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RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended
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Dec. 31, 2019
Related Party Transactions [Abstract] |
Schedule of leasing transactions with Ship Finance | A summary of leasing transactions with SFL in the years ended December 31, 2019, 2018 and 2017 are as follows;
(in thousands of $) |  | 2019 |  |  | 2018 |  |  | 2017 |
Charter hire paid (principal and interest) |  | 11,745 |  |  | 47,324 |  |  | 75,055 |
Lease termination payments |  | — |  |  | (22,391 | ) |  | (19,006 | )
Lease interest expense |  | 6,940 |  |  | 16,400 |  |  | 25,980 |
Contingent rental income |  | (2,607 | ) |  | (19,738 | ) |  | (26,148 | )
Remaining lease obligation |  | 87,930 |  |  | 99,784 |  |  | 299,016 |
Schedule of net amounts earned (incurred) from related parties excluding Ship Finance | A summary of net amounts earned from (paid to) related parties for the years ended December 31, 2019, 2018 and 2017 are as follows:
(in thousands of $) |  | 2019 |  |  | 2018 |  |  | 2017 |
Seatankers Management Co. Ltd |  | 18,878 |  |  | 7,152 |  |  | 3,420 |
SFL |  | 1,591 |  |  | 2,001 |  |  | 3,473 |
Golden Ocean |  | 6,851 |  |  | 7,138 |  |  | 6,671 |
Seatankers Management Norway AS |  | (705 | ) |  | (735 | ) |  | (767 | )
Arcadia Petroleum Limited |  | 3,197 |  |  | — |  |  | — |
Seadrill Limited |  | 367 |  |  | 279 |  |  | 470 |
Archer Limited |  | 418 |  |  | 317 |  |  | 238 |
Flex LNG Ltd |  | 1,195 |  |  | 1,788 |  |  | 4,432 |
North Atlantic Drilling Ltd |  | — |  |  | 29 |  |  | 37 |
Avance Gas |  | 518 |  |  | — |  |  | — |
Other related parties |  | 197 |  |  | 101 |  |  | 67 |
Schedule of related party receivables | A summary of balances due from related parties at December 31, 2019 and 2018 is as follows:
(in thousands of $) |  | 2019 |  |  | 2018 |
SFL |  | 4,982 |  |  | 1,653 |
Seatankers Management Co. Ltd |  | 5,490 |  |  | 2,657 |
Archer Limited |  | 94 |  |  | 173 |
Golden Ocean |  | 3,593 |  |  | 2,370 |
Seadrill Limited |  | 554 |  |  | 538 |
Arcadia Petroleum Limited |  | — |  |  | — |
Flex LNG Ltd |  | 391 |  |  | 210 |
North Atlantic Drilling Ltd |  | 25 |  |  | 116 |
Avance Gas |  | 240 |  |  |
Other related parties |  | 212 |  |  | 178 |
|  | 15,581 |  |  | 7,895 |
Schedule of Related Party Payables | A summary of balances due to related parties at December 31, 2019 and 2018 is as follows:
(in thousands of $) |  | 2019 |  |  | 2018 |
SFL Corporation Ltd |  | 9,193 |  |  | 8,886 |
Seatankers Management Co. Ltd |  | 4,037 |  |  | 3,236 |
Golden Ocean |  | 6,241 |  |  | 5,558 |
Flex LNG Ltd |  | 636 |  |  | 1,058 |
Avance Gas |  | 79 |  |  | — |
|  | 20,186 |  |  | 18,738 |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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