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GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS (Tables)
 12 Months Ended
Dec. 31, 2016
GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS [Abstract]  
GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS
(in thousands of $)
 
2016

 
2015

 
2014

(Loss) gain on cancellation of newbuilding contracts
 
(2,772
)
 
30,756

 
68,989

Gain on sale of newbuilding contracts
 
—

 
78,167

 
—

Gain on lease termination
 
89

 
—

 
—

 
 
(2,683
)
 
108,923

 
68,989