(LOSS) GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS

12 Months Ended

Dec. 31, 2011

(LOSS) GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS [Abstract]

(LOSS) GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS

9. (LOSS) GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS

(Loss) gain on sale of assets and amortization of deferred gains in each of the three years ended December 31 may be summarized as follows;

(in thousands of $)	2011			2010		2009
Net (loss) gain on lease terminations		(21,780	)		5,924		3,061
Loss on sale of SPCs to Frontline 2012		(306,972	)		-		-
Net gain on sale of vessels		9,271			95		-
Amortization of deferred gains		11,653			24,916		-
Other		(66	)		-		-
		(307,894	)		30,935		3,061