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OTHER OPERATING GAINS | 12 Months Ended
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Dec. 31, 2019
GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS [Abstract] |
OTHER OPERATING GAINS |
10. | OTHER OPERATING GAINS
(in thousands of $) |  | 2019 |  |  | 2018 |  |  | 2017 |
Insurance recoveries |  | 3,737 |  |  | — |  |  | — |
Other gains |  | 628 |  |  | — |  |  | — |
Gain on termination of vessel leases |  | — |  |  | 10,324 |  |  | 2,379 |
Gain (loss) on pool arrangements |  | (943 | ) |  | (118 | ) |  | 2 |
|  | 3,422 |  |  | 10,206 |  |  | 2,381 |
In the year ended December 31, 2019, the Company recorded a $3.7 million insurance recovery for loss of hire related to an explosion on the Front Altair. A further $0.6 million gain was recognized in the year ended December 31, 2019 in relation to the settlement of miscellaneous claims. In the year ended December 31, 2019, the Company recorded a $1.5 million loss (2018: $0.2 million) related to the pooling arrangement with SFL between two of its Suezmax tankers Front Odin and Front Njord and two SFL vessels Glorycrown and Everbright. A gain of $0.6 million was recorded in the year ended December 31, 2019 (2018: $0.1 million) related to other pooling arrangements. In the year ended December 31, 2018, the Company terminated the leases on six VLCCs, recognizing a gain of $10.3 million. In the year ended December 31, 2017, the Company terminated the leases on two VLCCs and two Suezmax tankers, recognizing a gain of $2.4 million. Further information on the gain on termination of vessel leases can be found in Note 19.

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- Definition Entire disclosure of gains (losses) on the sale of assets and the amortization of deferred gains. + References No definition available. + Details
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