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EQUITY METHOD INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments [Table Text Block]
As at December 31, the Company had the following participation in investments that are recorded using the equity method:
(% of ownership)
 
2016

 
2015

United Freight Carriers LLC ("UFC")
 
50.00
%
 
50.00
%
Golden Opus Inc. ("G. Opus")
 
50.00
%
 
50.00
%
Seateam Management Pte. Ltd ("Seateam")
 
22.19
%
 
21.25
%
Capesize Chartering Ltd ("CCL")
 
25.00
%
 
20.00
%

Movements in equity method investments for the years ended December 31, 2016 and 2015 are summarized as follows:
(in thousands of $)
 
UFC

 
G. Opus

 
Seateam

 
Total

At December 31, 2014
 
—

 
—

 
—

 
—

Acquired as a result of the Merger
 
630

 
10,379

 
337

 
11,346

Dividends received from associated companies
 
—

 
—

 
(88
)
 
(88
)
Share of income / (loss)
 
140

 
(821
)
 
248

 
(433
)
Impairment loss
 
—

 
(4,600
)
 
—

 
(4,600
)
At December 31, 2015
 
770

 
4,958

 
497

 
6,225

Dividends received from associated companies
 
—

 
—

 
(256
)
 
(256
)
Share of income / (loss)
 
(149
)
 
(694
)
 
462

 
(381
)
Impairment loss
 
—

 
(2,142
)
 
—

 
(2,142
)
Equity contribution
 
—

 
750

 
—

 
750

Purchases
 
—

 
—

 
28

 
28

At December 31, 2016
 
621

 
2,872

 
731

 
4,224