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VESSELS AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Summary Rollforward of Vessels and equipment
Movements in the three years ended December 31, 2014 may be summarized as follows:

(in thousands of $)
Cost

 
Accumulated Depreciation

 
Net Carrying Value

Balance at December 31, 2011
459,312

 
(147,020
)
 
312,292

Purchase of vessels and equipment
730

 
—

 
 

Disposal of vessels and equipment
(51,960
)
 
40,290

 
 
Other movements
443

 
(341
)
 
 
Depreciation
—

 
(18,508
)
 
 
Balance at December 31, 2012
408,525

 
(125,579
)
 
282,946

Purchase of vessels and equipment
374

 
—

 
 

Other movements
(531
)
 
449

 
 

Depreciation
—

 
(18,434
)
 
 

Balance at December 31, 2013
408,368

 
(143,564
)
 
264,804

Purchase of vessels and equipment
542

 
—

 
 

Transfers from Newbuildings
56,740

 
—

 
 
Effect of de-consolidation of subsidiaries
(224,602
)
 
49,803

 
 
Other movements
(936
)
 
854

 
 

Depreciation
—

 
(11,082
)
 
 

Impairment loss
(62,153
)
 
49,728

 
 
Disposals
(117,297
)
 
50,223

 
 
Balance at December 31, 2014
60,662

 
(4,038
)
 
56,624