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VESSELS UNDER FINANCE LEASE, NET | 6 Months Ended
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Jun. 30, 2021
Leases [Abstract] |
VESSELS UNDER FINANCE LEASE, NET | VESSELS UNDER FINANCE LEASE, NET Movements in the six months ended June 30, 2021 are summarized as follows:
(in thousands of $) | Cost | Accumulated Depreciation | Vessels under Finance Lease, net
Balance at December 31, 2020 | 777,939 |  | (80,559) |  | 697,380 |
Depreciation | — |  | (20,484) |  | (20,484) |
Balance at June 30, 2021 | 777,939 |  | (101,043) |  | 676,896 |
As at June 30, 2021, seven vessels were accounted for as vessels under finance lease, which consist of four 13,800 TEU container vessels and three 10,600 TEU container vessels. The vessels are leased for an original term ranging from six to 11 years, with options to purchase each vessel after six years.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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