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RELATED PARTY TRANSACTIONS (Tables) | 6 Months Ended
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Jun. 30, 2021
Related Party Transactions [Abstract] |
Schedule of amounts due from and to related parties, excluding direct financing lease balances | The Condensed Consolidated Balance Sheets include the following amounts due from and to related parties and associated companies, excluding investment in direct financing lease balances (refer to Note 9: Investments in sales-type leases, direct financing leases and leaseback assets).
(in thousands of $) | June 30, 2021 |  | December 31, 2020
Amounts due from: |  |  |
Frontline Shipping | — |  |  | 2,875 |
Frontline | 3,093 |  |  | 3,202 |
Seadrill | 2,773 |  |  | 3,613 |
Seatankers | 181 |  |  | — |
River Box | 5 |  |  | — |
SFL Hercules | 213 |  |  | — |
Golden Ocean | 1,230 |  |  | — |
Other related parties | — |  |  | 2 |
Allowance for expected credit losses* | (2,653) |  |  | (1,974) |
Total amount due from related parties | 4,842 |  |  | 7,718 |
Loans to related parties - associated companies, long-term |  |  |
River Box | 45,000 |  |  | 45,000 |
SFL Hercules | 80,000 |  |  | 78,910 |
Loans and long term receivables to related parties including associates | 125,000 |  |  | 123,910 |
Amounts due to: |  |  |
Frontline Shipping | 1,204 |  |  | 836 |
Frontline | 75 |  |  | 1,826 |
Golden Ocean | — |  |  | 23 |
Other related parties | 50 |  |  | 39 |
Total amount due to related parties | 1,329 |  |  | 2,724 |
* See Note 18: Allowance for expected credit losses.
Schedule of related party leasing revenues and repayments | A summary of leasing revenues and repayments from Frontline Shipping and Golden Ocean is as follows:
| Six months ended |  |  |
(in thousands of $) | June 30, 2021 |  | June 30, 2020 |  |  |
Golden Ocean: |  |  |  |  |  |
Operating lease income | 25,261 |  |  | 26,663 |  |  |  |
Profit share | 1,244 |  |  | — |  |  |  |
Frontline Shipping: |  |  |  |  |  |
Direct financing lease interest income | 766 |  |  | 946 |  |  |  |
Direct financing lease service revenue | 3,258 |  |  | 3,591 |  |  |  |
Direct financing lease repayments | 3,176 |  |  | 3,403 |  |  |  |
Profit share | 268 |  |  | 10,358 |  |  |  |
Schedule of fees with related parties | In addition to leasing revenues and repayments, the Company incurred the following fees with related parties:
| Six months ended |  |
(in thousands of $) | June 30, 2021 |  | June 30, 2020 |  |
Frontline: |  |  |  |  |
Vessel Management Fees | 4,249 |  |  | 4,592 |  |  |
Newbuilding Supervision Fees | 16 |  |  | — |  |  |
Commissions and Brokerage | 96 |  |  | 178 |  |  |
Administration Services Fees | 59 |  |  | 37 |  |  |
Golden Ocean: |  |  |  |  |
Vessel Management Fees | 10,136 |  |  | 10,192 |  |  |
Operating Management Fees | 355 |  |  | 466 |  |  |
Administration Services Fees | 33 |  |  | 32 |  |  |
Seatankers: |  |  |  |  |
Administration Services Fees* | 113 |  |  | 206 |  |  |
Office Facilities: |  |  |  |  |
Seatankers Management Norway AS | 54 |  |  | 47 |  |  |
Frontline Management AS | 118 |  |  | 96 |  |  |
Frontline Corporate Services Ltd. | 71 |  |  | 169 |  |  |
* In addition a credit note of $0.3 million was received during the six months ended June 30, 2021 in relation to 2020 fees paid.
Schedule of related party loans – associated companies | Related party loans – associated companies A summary of loans entered into with River Box and SFL Hercules are as follows:
(in millions of $) | River Box |  | SFL Hercules |
Loans granted | 45 |  |  | 145 |  |
Loans outstanding at June 30, 2021 | 45 |  |  | 80 |  |
The loans to River Box and SFL Hercules are fixed interest rate loans. These loans are repayable in full on October 1, 2023 (SFL Hercules) and November 16, 2033 (River Box) or earlier if the companies sell their assets. Interest income received on the loans to associated companies is as follows:
| Six months ended |  |
(in millions of $) | June 30, 2021 |  | June 30, 2020 |  |
River Box | 2.3 |  |  | — |  |  |
SFL Deepwater* | — |  |  | 2.5 |  |
SFL Hercules | 1.8 |  |  | 1.8 |  |  |
SFL Linus* | — |  |  | 2.7 |  |  |
*In October 2020, the Company was determined to be the primary beneficiary of SFL Linus and SFL Deepwater following changes to the financing agreements and as a result of defaults by Seadrill and therefore consolidated these entities from this date.
Schedule of interest income on related party loan notes | The Company received the following interest income on the loan notes:
| Six months ended |  |
(in thousands of $) | June 30, 2021 |  | June 30, 2020 |  |
Frontline Shipping | — |  |  | 82 |  |  |
Frontline | — |  |  | 97 |  |  |
Schedule of dividends and interest income received from shares held in and secured notes issued by related parties |
| Six months ended |  |
(in thousands of $) | June 30, 2021 |  | June 30, 2020 |  |
Dividends received |  |  |  |  |
ADS Maritime Holding | — |  |  | 1,508 |  |  |
Frontline | — |  |  | 2,376 |  |  |
Interest income received |  |  |  |  |
NorAm Drilling | — |  |  | 210 |  |  |
For additional information on the shares and corporate bonds held, refer to Note 5: Investments in debt and equity securities.

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