VESSELS AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2011

VESSELS AND EQUIPMENT. NET [Abstract]

Summary Rollforward of Vessels and equipment

Movements in the three years ended December 31, 2011 may be summarized as follows:

(in thousands of $)	Cost			Accumulated Depreciation			Net Carrying Value
Balance at December 31, 2008		519,016			(80,855	)		438,161
Purchase of vessels and equipment		219			-
Transfers from Newbuildings		220,549			-
Transfers from vessels under capital lease		58,307			-
Other movements		932			(665	)
Depreciation		-			(38,809	)
Balance at December 31, 2009		799,023			(120,329	)		678,694
Purchase of vessels and equipment		207,772			-
Transfers from Newbuildings		499,154			-
Transfers from vessels under capital lease		112,571			-
Other movements		(1,228	)		1,145
Depreciation		-			(60,023	)
Disposals		(8,452	)		491
Balance at December 31, 2010		1,608,840			(178,716	)		1,430,124
Purchase of vessels and equipment		56,591			-
Transfers from vessels under capital lease		53,733			-
Disposal of vessels to Frontline 2012		(927,009	)		62,144
Disposal of vessels and equipment (excluding to Frontline 2012)		(332,495	)		156,560
Other movements		(348	)		179
Depreciation		-			(65,744	)
Impairment loss		-			(121,443	)
Balance at December 31, 2011		459,312			(147,020	)		312,292