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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - CONSOLIDATED BALANCE SHEETS (Details) (Details) - USD ($)
$ / shares in Units, $ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Current Assets        
Cash and cash equivalents $ 105,235 $ 191,410 $ 125,347 $ 424,714
Restricted cash and short-term receivables 228,202 74,162    
Trade accounts receivable 4,474 4,419    
Other receivables, prepaid expenses and accrued income 24,753 17,498    
Amounts due from related parties 0 9,967    
Short-term debt due from related party 0 20,000    
Inventories 8,650 8,317    
Vessel held-for-sale 0 132,110    
Assets held-for-sale 267,034 280,746    
Total current assets 638,348 738,629    
Long-term assets        
Restricted cash 180,361 425    
Investment in available-for-sale securities 0 0    
Investments in affiliates 541,565 746,263 766,024  
Cost method investment 7,347 7,347    
Newbuildings 13,561 344,543    
Asset under development 501,022 345,205    
Vessels and equipment, net 2,336,144 1,648,888    
Deferred charges 0 0    
Other non-current assets 50,850 68,442    
Total assets 4,269,198 3,899,742 2,591,666  
Current liabilities        
Current portion of long-term debt and short-term debt, net of deferred finance charges 491,398 112,853    
Trade accounts payable 53,281 10,811    
Accrued expenses 53,333 31,124    
Amounts due to related parties 7,128 0    
Other current liabilities 148,077 46,417    
Liabilities held-for-sale 201,213 160,192    
Total current liabilities 954,430 361,397    
Long-term liabilities        
Long-term debt, net of deferred finance charges 1,344,509 1,241,133    
Long-term debt due to related parties 0 0    
Other long-term liabilities 54,080 59,790    
Total liabilities 2,353,019 1,662,320    
EQUITY        
Share capital 93,546,663 common shares of $1.00 each issued and outstanding (2014: 93,414,672 and 2013: 80,579,295) 93,547 93,415    
Treasury shares (12,269) 0    
Additional paid-in capital 1,317,806 1,307,087    
Contributed surplus 200,000 200,000    
Accumulated other comprehensive (loss) gain (12,592) (6,579) (10,728)  
Retained earnings 308,874 641,844    
Total stockholders' equity 1,895,366 2,235,767    
Non-controlling interests 20,813 1,655    
Total equity 1,916,179 2,237,422 $ 1,771,727 1,755,947
Total liabilities and equity $ 4,269,198 $ 3,899,742    
Common shares, shares issued (in shares) 93,546,663 93,414,672 80,579,295  
Common shares, shares outstanding (in shares) 93,546,663 93,414,672 80,579,295  
Common shares, par value (in dollars per share) $ 1.00 $ 1.00 $ 1.00  
As Previously Reported        
Current Assets        
Cash and cash equivalents $ 105,235 $ 191,410 $ 125,347 424,714
Restricted cash and short-term receivables 228,202 74,162    
Trade accounts receivable 4,474 4,419    
Other receivables, prepaid expenses and accrued income 24,753 17,498    
Amounts due from related parties 0 9,967    
Short-term debt due from related party 0 20,000    
Inventories 8,650 8,317    
Vessel held-for-sale 0 132,110    
Assets held-for-sale 269,459 284,955    
Total current assets 640,773 742,838    
Long-term assets        
Restricted cash 180,361 425    
Investment in available-for-sale securities 25,530 275,307    
Investments in affiliates 313,021 335,372    
Cost method investment 204,172 204,172    
Newbuildings 13,561 344,543    
Asset under development 501,022 345,205    
Vessels and equipment, net 2,336,144 1,648,888    
Deferred charges 42,154 26,801    
Other non-current assets 50,850 68,442    
Total assets 4,307,588 3,991,993    
Current liabilities        
Current portion of long-term debt and short-term debt, net of deferred finance charges 501,618 116,431    
Trade accounts payable 53,281 10,811    
Accrued expenses 53,333 31,124    
Amounts due to related parties 7,128 0    
Other current liabilities 148,583 46,923    
Liabilities held-for-sale 203,638 164,401    
Total current liabilities 967,581 369,690    
Long-term liabilities        
Long-term debt, net of deferred finance charges 1,376,443 1,264,356    
Long-term debt due to related parties 0 0    
Other long-term liabilities 69,225 75,440    
Total liabilities 2,413,249 1,709,486    
EQUITY        
Share capital 93,546,663 common shares of $1.00 each issued and outstanding (2014: 93,414,672 and 2013: 80,579,295) 93,547 93,415    
Treasury shares (12,269) 0    
Additional paid-in capital 1,317,806 1,307,087    
Contributed surplus 200,000 200,000    
Accumulated other comprehensive (loss) gain (41,254) 5,171    
Retained earnings 315,696 675,179    
Total stockholders' equity 1,873,526 2,280,852    
Non-controlling interests 20,813 1,655    
Total equity 1,894,339 2,282,507    
Total liabilities and equity 4,307,588 3,991,993    
Adjustment        
Current Assets        
Cash and cash equivalents 0 0 $ 0 $ 0
Restricted cash and short-term receivables 0 0    
Trade accounts receivable 0 0    
Other receivables, prepaid expenses and accrued income 0 0    
Amounts due from related parties 0 0    
Short-term debt due from related party 0 0    
Inventories 0 0    
Vessel held-for-sale 0 0    
Assets held-for-sale (2,425) (4,209)    
Total current assets (2,425) (4,209)    
Long-term assets        
Restricted cash 0 0    
Investment in available-for-sale securities (25,530) (275,307)    
Investments in affiliates 228,544 410,891    
Cost method investment (196,825) (196,825)    
Newbuildings 0 0    
Asset under development 0 0    
Vessels and equipment, net 0 0    
Deferred charges (42,154) (26,801)    
Other non-current assets 0 0    
Total assets (38,390) (92,251)    
Current liabilities        
Current portion of long-term debt and short-term debt, net of deferred finance charges (10,220) (3,578)    
Trade accounts payable 0 0    
Accrued expenses 0 0    
Amounts due to related parties 0 0    
Other current liabilities (506) (506)    
Liabilities held-for-sale (2,425) (4,209)    
Total current liabilities (13,151) (8,293)    
Long-term liabilities        
Long-term debt, net of deferred finance charges (31,934) (23,223)    
Long-term debt due to related parties 0 0    
Other long-term liabilities (15,145) (15,650)    
Total liabilities (60,230) (47,166)    
EQUITY        
Share capital 93,546,663 common shares of $1.00 each issued and outstanding (2014: 93,414,672 and 2013: 80,579,295) 0 0    
Treasury shares 0 0    
Additional paid-in capital 0 0    
Contributed surplus 0 0    
Accumulated other comprehensive (loss) gain 28,662 (11,750)    
Retained earnings (6,822) (33,335)    
Total stockholders' equity 21,840 (45,085)    
Non-controlling interests 0 0    
Total equity 21,840 (45,085)    
Total liabilities and equity $ (38,390) $ (92,251)