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NEWBUILDINGS (Tables)
 12 Months Ended
Dec. 31, 2016
NEWBUILDINGS [Abstract]  
Summary roll forward of new build information
Movements in the three years ended December 31, 2016 may be summarized as follows:
(in thousands of $)
 
 
Balance at December 31, 2013
 
252,753

Newbuildings acquired, net, on consolidation of Golden Ocean
 
83,700

Newbuildings sold to Golden Ocean in April 2014
 
(41,617
)
Newbuildings sold to Golden Ocean in September 2014
 
(64,178
)
Additions, net, continuing basis
 
188,623

Additions, net, discontinued basis
 
270,130

Transfer to held for distribution
 
(250,118
)
Transfer to Vessels and equipment, net
 
(186,717
)
Interest capitalized, continuing basis
 
5,129

Interest capitalized, discontinued basis
 
2,087

Transfer to short term claim receivable
 
(32,742
)
Balance at December 31, 2014
 
227,050

Additions, net, continuing basis
 
677,103

Newbuildings acquired upon the Merger
 
16,523

Newbuildings acquired from related party
 
1,927

Newbuildings sold to Avance Gas
 
(517,398
)
Transfer to Vessels and equipment, net
 
(133,429
)
Interest capitalized, continuing basis
 
5,989

Transfer to short term claim receivable
 
(11,532
)
Balance at December 31, 2015
 
266,233

Additions, net, continuing basis
 
614,116

Transfer to Vessels and equipment, net
 
(532,766
)
Interest capitalized, continuing basis
 
6,994

Cancellations
 
(46,253
)
Balance at December 31, 2016
 
308,324