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OTHER OPERATING GAINS | 6 Months Ended
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Jun. 30, 2021
Operating Income (Loss) [Abstract] |
OTHER OPERATING GAINS | OTHER OPERATING GAINS Other operating gains for the six months ended June 30, 2021 and June 30, 2020 are as follows:
(in thousands of $) | 2021 | 2020
Gain on termination of vessel lease | — |  | 7,409 |
Gain on sale of vessel | — |  | 12,354 |
Gain on settlement of claim | — |  | 3,422 |
Gain on pool arrangements | 1,048 |  | 766 |
Other gains | 85 |  | 268 |
Other operating gains | 1,133 |  | 24,219 |
In February 2020, the Company agreed with SFL to terminate the long-term charter for the 2002-built VLCC Front Hakata upon the sale and delivery of the vessel by SFL to an unrelated third party. Frontline received a compensation payment of $3.2 million from SFL for the termination of the current charter and recognized a gain on termination of $7.4 million. The charter with SFL terminated in February 2020. In March 2020, the Company recorded a $3.4 million gain on settlement of a claim. In April, 2020, the Company sold one VLCC previously recorded as an investment in finance lease at a purchase price of $25.5 million. The vessel was delivered to its buyers in June 2020 and the Company recorded a gain on sale of $12.4 million. In the six months ended June 30, 2021, the Company recorded a gain on pool arrangements of $1.0 million (2020: gain of $0.8 million) and a further $0.1 million (2020: $0.3 million) in relation to other miscellaneous settlements.

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