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VESSELS AND EQUIPMENT, NET | 6 Months Ended
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Jun. 30, 2021
Property, Plant and Equipment [Abstract] |
VESSELS AND EQUIPMENT, NET | VESSELS AND EQUIPMENT, NET Movements in the six months ended June 30, 2021 are summarized as follows;
(in thousands of $) | Cost | Accumulated Depreciation | Net Carrying Value
Balance at December 31, 2020 | 3,867,871 |  | (560,727) |  | 3,307,144 |
Depreciation |  | (67,451) |  |
Additions to vessels and equipment | 4,611 |  |  |
Transfers from Newbuildings | 96,683 |  |  |
Balance at June 30, 2021 | 3,969,165 |  | (628,178) |  | 3,340,987 |
In the six months ended June 30, 2021, the Company took delivery of two LR2 tankers, Front Fusion and Front Future, from SWS. The Company also completed the installation of EGCSs on one vessel during the period.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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