Golden Ocean Group Limited (GOGL) 20-F 16 Mar 23 2022 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	000-29106
Entity Registrant Name	Golden Ocean Group Limited
Entity Incorporation, State or Country Code	D0
Entity Address, Address Line One	Par-la-Ville Place
Entity Address, Address Line Two	14 Par-la-Ville Road
Entity Address, City or Town	Hamilton
Entity Address, Country	BM
Entity Address, Postal Zip Code	HM 08
Title of 12(b) Security	Common Shares, Par Value $0.05 Per Share
Trading Symbol	GOGL
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	200,485,621
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Central Index Key	0001029145
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	Par-la-Ville Place
Entity Address, Address Line Two	14 Par-la-Ville Road
Entity Address, City or Town	Hamilton
Entity Address, Country	BM
Entity Address, Postal Zip Code	HM 08
Contact Personnel Name	James Ayers
City Area Code	441
Local Phone Number	2956935
Contact Personnel Fax Number	(1) 441 295 3494

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	1318
Auditor Name	PricewaterhouseCoopers AS
Auditor Location	Oslo, Norway

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating revenues
Total operating revenues	$ 1,113,456	$ 1,203,181	$ 607,943
Gain on sale of assets	34,185	9,788	0
Other operating income (expenses), net - related party	(413)	(2,008)	2,965
Operating expenses
Voyage expenses and commissions	278,550	252,865	194,544
Ship operating expenses (including related party amounts of $4,916, $9,313 and $11,574 for the years ended December 31, 2022, 2021 and 2020 respectively)	225,971	208,894	191,235
Charter hire expenses (including related party amounts of $37,328, $60,885 and $63,468 for the years ended December 31, 2022, 2021 and 2020 respectively)	57,406	89,559	66,812
Administrative expenses	20,375	18,149	13,722
Impairment loss on vessels	0	4,187	721
Impairment loss on right of use assets	0	0	94,233
Depreciation	129,839	123,699	111,303
Total operating expenses	712,141	697,353	672,570
Net operating income (loss)	435,087	513,608	(61,662)
Other income (expenses)
Interest income	2,345	484	1,193
Interest expense (including related party amounts of nil, $3,395 and nil for the years ended December 31, 2022, 2021 and 2020 respectively)	(56,248)	(39,909)	(47,477)
Share of results of associated companies	40,793	24,482	(3,710)
Gain from disposal of associated companies	0	0	2,570
Gain (loss) on derivatives	39,968	30,465	(17,450)
Gain (loss) on marketable equity securities	503	(2,000)	(10,177)
Other financial items	(222)	477	(825)
Net other income (expenses)	27,139	13,999	(75,876)
Net income (loss) before income taxes	462,226	527,607	(137,538)
Income tax expense	379	389	131
Net income (loss)	$ 461,847	$ 527,218	$ (137,669)
Per share information:
Earnings (loss) per share : basic (in dollars per share)	$ 2.30	$ 2.74	$ (0.96)
Earnings (loss) per share : diluted (in dollars per share)	$ 2.29	$ 2.73	$ (0.96)
Time charter revenues
Operating revenues
Total operating revenues	$ 593,795	$ 603,959	$ 235,673
Voyage charter revenues
Operating revenues
Total operating revenues	518,398	597,812	370,130
Other revenues
Operating revenues
Total operating revenues	$ 1,263	$ 1,410	$ 2,140

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from related parties	$ 2,615	$ 14,656	$ 24,454
Ship operating expenses, related party amount	4,916	9,313	11,574
Charter hire expenses, related party amount	37,328	60,885	63,468
Interest expense, related party amount	0	3,395	0
Time charter revenues
Revenue from related parties	$ 2,033	$ 13,281	$ 19,528

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents		$ 134,784	$ 197,032
Restricted cash		3,289	12,985
Marketable securities		2,187	1,684
Trade accounts receivable, net		14,950	28,838
Other current assets		54,430	35,158
Related party receivables		2,334	8,615
Derivative instruments receivables		12,262	2,679
Inventories		45,434	43,383
Prepaid expenses		12,503	8,440
Voyages in progress		16,974	30,576
Total current assets		299,147	369,390
Vessels and equipment, net		2,665,785	2,880,321
Vessels held for sale		12,542	0
Newbuildings		91,898	35,678
Finance leases, right of use assets, net		83,589	98,535
Operating leases, right of use assets, net		15,646	19,965
Investments in associated companies		65,400	41,343
Related party receivables		837	6,187
Derivative instruments receivable		20,861	0
Other long-term assets		1,586	2,758
Total assets		3,257,291	3,454,177
Current liabilities
Current portion of long-term debt		92,865	105,864
Current portion of finance lease obligations - related party		18,387	21,755
Current portion of operating lease obligations (including related party balances of $2,010 and $2,537 as of December 31, 2022 and 2021 respectively)		5,546	13,860
Derivative instruments payables		1,313	10,364
Related party payables		9,492	13,934
Trade accounts payables		7,143	6,462
Accrued expenses		43,388	38,569
Other current liabilities		33,494	37,265
Total current liabilities		211,628	248,073
Long-term liabilities
Long-term debt		1,027,991	1,156,481
Non-current portion of finance lease obligations - related party		87,588	105,975
Non-current portion of operating lease obligations (including related party balances of $11,345 and $13,355 as of December 31, 2022 and 2021 respectively)		13,051	14,907
Total liabilities		1,340,258	1,525,436
Commitments and contingencies*	[1]
Equity
Share capital (Shares issued: 2022: 201,190,621. 2021: 201,190,621. Outstanding shares: 2022: 200,485,621. 2021: 200,435,621 shares. All shares are issued and outstanding at par value $0.05)		10,061	10,061
Treasury shares		(5,014)	(4,309)
Additional paid in capital		851	285
Contributed capital surplus		1,582,257	1,762,649
Accumulated earnings		328,878	160,055
Total equity		1,917,033	1,928,741
Total liabilities and equity		$ 3,257,291	$ 3,454,177
[1]*For details please refer to Note 29, "Commitments and contingencies"

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current liabilities
Current portion of operating lease obligations, related party amount	$ 2,010	$ 2,537
Long-term liabilities
Noncurrent portion of operation lease obligations, related party amount	$ 11,345	$ 13,355
Equity
Share capital, shares issued (in shares)	201,190,621	201,190,621
Share capital, shares outstanding (in shares)	200,485,621	200,435,621
Share capital, par value (in dollars per share)	$ 0.05	$ 0.05

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Cash Flows [Abstract]
Net income (loss)	$ 461,847	$ 527,218	$ (137,669)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	129,839	123,699	111,303
Amortization of deferred charges	3,618	2,677	2,778
Gain from sale of vessels	(34,185)	(9,788)	0
Impairment loss on vessels	0	4,187	721
Impairment loss on right of use assets	0	0	94,233
Share option expenses	566	620	264
Share of results of associated companies	(40,793)	(24,482)	3,710
Dividends received from associated companies	16,273	0	450
Gain from disposal of associated companies	0	0	(2,570)
Amortization of charter party-out contracts	0	1,859	12,148
Mark to market (gain) loss on derivatives	(39,496)	(19,435)	20,542
Mark to market (gain) loss on marketable securities	(503)	2,000	10,177
Non-cash lease expense	(5,851)	(10,496)	(6,459)
Other	(518)	(235)	(178)
Changes in operating assets and liabilities, net:
Trade accounts receivable	13,889	(6,134)	22,896
Related party payables and receivables balances	902	(570)	6,041
Other receivables	(19,043)	(6,407)	3,991
Inventories	(2,051)	(18,219)	3,070
Voyages in progress	13,603	(17,141)	8,472
Prepaid expenses	(4,063)	2,001	(4,105)
Trade accounts payables	681	(11,939)	6,000
Accrued expenses	11,981	12,256	(1,126)
Other current liabilities	(3,309)	8,727	(14,049)
Net cash provided by operating activities	503,387	560,398	140,640
Investing activities
Dividends received from marketable equity securities	8	26	76
Proceeds from sale of shares in associated companies	937	937	1,694
Loan advance to related parties	0	0	(1,000)
Repayment of loans receivable from related parties	5,350	0	5,350
Additions to newbuildings (including related party amounts of $455, $116,445 and nil for the years ended December 31, 2022, 2021 and 2020 respectively)	(56,028)	(152,460)	0
Purchase of vessels and equipment (including related party amounts of nil, $286,894 and nil for the years ended December 31, 2022, 2021 and 2020 respectively)	(5,003)	(292,539)	(25,271)
Proceeds from sale of vessels	127,552	54,012	0
Net cash provided by (used in) investing activities	72,816	(390,024)	(19,151)
Financing activities
Proceeds from long-term debt (including related party amounts of nil, $62,975 and nil for the years ended December 31, 2022, 2021 and 2020 respectively)	275,000	497,975	322,014
Repayment of long-term debt (including related party amounts of nil, $413,600 and nil for the years ended December 31, 2022, 2021 and 2020 respectively)	(417,217)	(628,900)	(390,138)
Repayment of finance leases (including related party amounts of $29,059, $32,237 and $47,181 for the years ended December 31, 2022, 2021 and 2020 respectively)	(29,059)	(32,237)	(48,972)
Debt fees paid	(2,750)	(4,466)	(3,040)
Net proceeds from share issuance	0	352,225	0
Share repurchases	(3,273)	0	0
Proceeds from exercise of share options	828	636	169
Lease incentives received	0	0	17,500
Distributions to shareholders	(471,676)	(320,692)	(7,164)
Net cash used in financing activities	(648,147)	(135,459)	(109,631)
Net change in cash, cash equivalents and restricted cash	(71,944)	34,915	11,858
Cash, cash equivalents and restricted cash at beginning of year	210,017	175,102	163,244
Cash, cash equivalents and restricted cash at end of year	138,073	210,017	175,102
Supplemental disclosure of cash flow information:
Interest expenses paid	45,190	30,850	36,351
Income taxes paid	$ 240	$ 153	$ 77

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investing activities
Additions to newbuildings, related party amount	$ 455	$ 116,445	$ 0
Purchase of vessels and equipment, related party amount	0	286,894	0
Financing activities
Proceeds from long-term debt, related party amount	0	62,975	0
Repayment of long-term debt, related party amount	0	413,600	0
Repayment of finance leases, related party amount	$ 29,059	$ 32,237	$ 47,181

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Share capital	Treasury shares	Additional paid in capital	Contributed capital surplus	Accumulated earnings (deficit)	Accumulated earnings (deficit) Revision of Prior Period, Accounting Standards Update, Adjustment
Outstanding number of shares: Balance at beginning of year (in shares) at Dec. 31, 2019		143,277,697
Increase (decrease) in Equity [Roll Forward]
Shares issued (in shares)		0
Repurchases of shares (in shares)		0
Distribution of treasury shares (in shares)		50,000
Outstanding number of shares: Balance at end of year (in shares) at Dec. 31, 2020	143,327,697	143,327,697
Balance at beginning of year at Dec. 31, 2019		$ 7,215	$ (5,669)	$ 715	$ 1,739,834	$ (228,704)	$ (234)
Increase (decrease) in Equity [Roll Forward]
Shares issued		0		0
Repurchases of shares			0
Distribution of treasury shares			283			(115)
Stock option expense				264
Other				0
Reclassified to contributed surplus				0
Distributions to shareholders					(7,164)	0
Reclassified from additional paid in capital					0
Net (loss) income						(137,669)
Balance at end of year at Dec. 31, 2020	$ 1,368,756	$ 7,215	(5,386)	979	1,732,670	(366,722)	0
Increase (decrease) in Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Shares issued (in shares)		56,917,924
Repurchases of shares (in shares)		0
Distribution of treasury shares (in shares)		190,000
Outstanding number of shares: Balance at end of year (in shares) at Dec. 31, 2021	200,435,621	200,435,621
Increase (decrease) in Equity [Roll Forward]
Shares issued		$ 2,846		349,379
Repurchases of shares			0
Distribution of treasury shares			1,077			(441)
Stock option expense				620
Other				(22)
Reclassified to contributed surplus				(350,671)
Distributions to shareholders					(320,692)	0
Reclassified from additional paid in capital					350,671
Net (loss) income						527,218
Balance at end of year at Dec. 31, 2021	$ 1,928,741	$ 10,061	(4,309)	285	1,762,649	160,055	$ 0
Increase (decrease) in Equity [Roll Forward]
Shares issued (in shares)		0
Repurchases of shares (in shares)		(400,000)
Distribution of treasury shares (in shares)		450,000
Outstanding number of shares: Balance at end of year (in shares) at Dec. 31, 2022	200,485,621	200,485,621
Increase (decrease) in Equity [Roll Forward]
Shares issued		$ 0		0
Repurchases of shares			(3,273)
Distribution of treasury shares			2,568			(1,740)
Stock option expense				566
Other				0
Reclassified to contributed surplus				0
Distributions to shareholders					(180,392)	(291,284)
Reclassified from additional paid in capital					0
Net (loss) income						461,847
Balance at end of year at Dec. 31, 2022	$ 1,917,033	$ 10,061	$ (5,014)	$ 851	$ 1,582,257	$ 328,878

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	ORGANIZATION AND BUSINESS Historical Structure and Business of the Company We were incorporated as Knightsbridge Tankers Limited in Bermuda as an exempted company under the Bermuda Companies Act of 1981 on September 18, 1996. We were originally established for the purpose of owning and operating five VLCCs. On October 7, 2014, we entered into the Merger Agreement, with the Former Golden Ocean, a dry bulk shipping company based in Bermuda and listed on the Oslo Stock Exchange ("OSE"), pursuant to which the two companies agreed to merge, with us as the surviving company. Following the completion of the Merger on March 31, 2015, we changed our name to Golden Ocean Group Limited. Our common shares commenced trading on the NASDAQ Global Select Market ("NASDAQ") in February 1997 and currently trade under the symbol "GOGL". We obtained a secondary listing on the OSE in April 2015. In 2021, we acquired 15 modern dry bulk vessels and three newbuildings for a total consideration of $752 million from affiliates of Hemen (the “Vessel Acquisitions”). The Vessel Acquisition was financed by $338 million in new equity capital and a $414 million debt facility provided by affiliates of Hemen. We own and operate dry bulk carriers of primarily four sizes: Newcastlemax vessels, which are between 200,000 and 210,000 dwt, Capesize vessels, which are between 105,000 and 200,000 dwt, Panamax vessels (including Kamsarmax), which are vessels between 65,000 and 105,000 dwt, and Ultramax vessels, which are between 55,000 and 65,000 dwt. We operate through subsidiaries located in Bermuda, Liberia, the Marshall Islands, Norway, Singapore and UK. We are also involved in the charter, purchase and sale of vessels. As of December 31, 2022, we owned 75 dry bulk vessels and had construction contracts for ten newbuildings. In addition, we had nine vessels chartered-in (of which seven and one are chartered in on finance leases and operating leases, respectively, from SFL Corporation Ltd. ("

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America. The consolidated financial statements include the assets and liabilities of us and our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation. Use of estimates The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires us to make estimates and assumptions that affect the amounts reported in our financial statements and accompanying notes. Such estimates and assumptions impact, among others, the following: judgements involved in identifying performance obligations in revenue contracts, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each performance obligation, impairment of assets, the amount of uncollectible accounts and accounts receivable, the amount to be paid for certain liabilities, including contingent liabilities, the amount of costs to be capitalized in connection with the construction of newbuildings and the determination of useful life of our vessels. Actual results could differ from those estimates. Fair values We have determined the estimated fair value amounts presented in these consolidated financial statements using available market information and appropriate methodologies. However, considerable judgment is required in interpreting market data to develop the estimates of fair value. The estimates presented in these consolidated financial statements are not necessarily indicative of the amounts that we could realize in a current market exchange. Estimating the fair value of assets and liabilities requires the use of estimates and significant judgments, among others, the following: the market assumptions used when valuing acquired time charter contracts, the expected revenues earned by vessels and the operating costs (including drydocking costs) of those vessels and the discount rate used in cash flow based valuations. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Reporting and functional currency Our functional currency is the United States dollar as all revenues are received in United States dollars and a majority of our expenditures are made in United States dollars. We and our subsidiaries report in United States dollars. Foreign currency Transactions in foreign currencies during the year are translated into United States dollars at the rates of exchange in effect at the date of the transaction. Foreign currency monetary assets and liabilities are translated using rates of exchange at the balance sheet date. Foreign currency non-monetary assets and liabilities are translated using historical rates of exchange. Foreign currency transaction gains or losses are included in the consolidated statements of operations. Revenue and expense recognition Revenue Recognition Our shipping revenues are primarily generated from time charters and voyage charters. In a time charter, the vessel is hired by the charterer for a specified period of time in exchange for consideration which is based on a daily hire rate. Generally, the charterer has the discretion over the ports visited, shipping routes and vessel speed. The contract/charter party generally provides typical warranties regarding the speed and performance of the vessel. The charter party generally has some owner protective restrictions such as that the vessel is sent only to safe ports by the charterer and carries only lawful or non-hazardous cargo. In a time charter contract, where we charter the ship out to a charterer, we are responsible for all the costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance and lubes. The charterer bears the voyage related costs such as bunker expenses, port charges, canal tolls during the hire period. The performance obligations in a time charter contract are satisfied over the term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to us. The charterer generally pays the charter hire in advance of the upcoming contract period. The time charter contracts are considered operating leases because (i) the vessel is an identifiable asset (ii) we do not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Time charter contracts are generally accounted for under ASC 842 leases and revenues are recorded over the term of the charter. When a time charter contract is linked to an index, we recognize revenue for the applicable period based on the actual index for that period. Variable lease payments included into our time-charter agreements, such as positioning bonuses or profit sharing for fuel savings from scrubbers, that do not depend on an index or rate are excluded from the calculation of lease payments and recognized in the period in which the variability is resolved. In a voyage charter contract, the charterer hires the vessel to transport a specific agreed-upon cargo for a single voyage. The consideration for such a contract is determined on the basis of a freight rate per metric ton of cargo carried or occasionally on a lump sum basis. The charterer is responsible for any short loading of cargo or "dead" freight. The voyage charter party generally has standard payment terms of 90 or 95% freight paid within three Certain of our voyage charter contracts contain a lease. Voyage charters contain a lease component if the contract (i) specifies a specific vessel asset; and (ii) has terms that allow the charterer to exercise substantive decision-making rights, which have an economic value to the charterer and therefore allow the charterer to direct how and for what purpose the vessel is used. Voyage charter revenues and expenses are recognized ratably over the estimated length of each voyage, which the Company has assessed commence on loading of the cargo. ASC 842 Leases provides a practical expedient for lessors in which the lessor may elect, by class of underlying asset, to not separate non-lease components from the associated lease component and, instead, to account for these components as a single component if both of the following are met: (1) the timing and pattern of transfer of the non-lease component(s) and associated lease component are the same and (2) the lease component, if accounted for separately, would be classified as an operating lease. When a lessor, we have elected this expedient for our time charter contracts and voyage charter contracts that qualify as leases and thus not separate the non-lease component, or service element, from the lease. Furthermore, ASC 842 Leases requires the Company to account for the combined component in accordance with ASC 606 revenues from contracts with customers if the non-lease components are the predominant components. Under this guidance the Company has assessed that the lease components were the predominant component for all of its time charter contracts. Furthermore, for certain of its voyage charter contracts the lease components were the predominant components. Voyage and other contracts not qualifying as leases are accounted for under the provisions of ASC 606. We have determined that our voyage charter contracts consist of a single performance obligation of transporting the cargo within a specified period. Therefore, the performance obligation is met evenly as the voyage progresses, and the revenue is recognized on a straight line basis over the voyage days from the commencement of loading to completion of discharge. The voyage charters generally have variable consideration in the form of demurrage or despatch, which is recognized as we satisfy the performance obligations under the contract. We estimate demurrage or despatch at contract inception using either the expected value or most likely amount approaches. Such estimate is reviewed and updated over the term of the voyage charter contract. In a voyage contract, we bear all voyage related costs such as fuel costs, port charges and canal tolls. To recognize costs incurred to fulfill a contract as an asset, the following criteria shall be met: (i) the costs relate directly to the contract, (ii) the costs generate or enhance resources of the entity that will be used in satisfying performance obligations in the future and (iii) the costs are expected to be recovered. The costs incurred during the period prior to commencement of loading the cargo, primarily bunkers, are deferred as they represent setup costs and recorded as a current asset and are subsequently amortized on a straight-line basis as we satisfy the performance obligations under the contract. Costs incurred to obtain a contract, such as commissions, are also deferred and expensed over the same period. Costs related to the voyage which are incurred during the period between loading and discharging the cargo, are expensed as incurred. Several of our Capesize vessels operated under a pool arrangement for Capesize vessels with Capesize Chartering Ltd. ("CCL") in 2021 and 2020. All vessels were redelivered to us in 2021. Revenues and expenses for our owned vessels generated through this pool arrangement were presented gross. We considered ourselves the principal under the charter parties with the customers for the vessels that operated under this pool arrangement, primarily because we considered ourselves to have control over the service to be transferred for the customer under the charter parties. CCL, as pool manager, calculated the total pool revenues, pool expenses and pool results based on each participant’s reported results. Based on the aggregated pool results as defined under the pool agreement and a pre-determined pool key, reflecting a vessel’s earning capacity, CCL calculated and allocated a pool result for each vessel. The difference between the calculated pool result for our owned vessels and the actual result from the charter party with the third party customer was a settlement amount with CCL in 2021 and 2020. This settlement amount allocated under the pool arrangement, is presented as other operating income (expenses), net, in our consolidated statements of operations. Our Ultramax vessels operated under a revenue sharing agreement ("RSA"), for Supramax vessels managed by C Transport Maritime S.A.M. ("CTM"), formerly known as C Transport Holding Ltd, in 2021 and 2020. All vessels were redelivered to us in 2021. Under this RSA, up to 2021 CTM performed both commercial and operational functions related to the contracts with the third party customers. CTM as manager, recorded all revenues and voyage expenses for all vessels under the arrangement which include vessels owned by third parties. The revenues and voyage expenses were pooled together, allocated and the net result were distributed to each participant under the arrangement in accordance with an agreed-upon formula. Under this RSA, CTM also operated and therefore controlled the use of our owned vessels included under the arrangement. As a result, the RSA for our vessels with CTM was considered to meet the definition of a lease. We accounted for the transactions with CTM as variable rate operating leases and recognized revenues for the applicable periods based on the net amount to be distributed by CTM. Other revenues primarily comprise revenues earned from the commercial management of related party vessels. Other revenues are recognized on an accruals basis as the services are provided and performance obligations are met. Gains and losses on the sale of vessels Gains and losses on the sale of vessels are recognized when the vessel has been delivered and all risks have been transferred and are determined by comparing the net proceeds received with the carrying value of the vessel. Charter hire expense Charter hire expense is charged to the consolidated statement of operations on a straight-line basis over the lease term. Contingent rental expense (income) Any contingent elements of rental expense (income), such as profit share or interest rate adjustments included in our leases, are recognized when the contingent conditions have materialized. Drydocking Normal vessel repair and maintenance costs are expensed when incurred. We recognize the cost of a drydocking at the time the drydocking takes place, applying the "expense as incurred" method. Impairment of vessels, newbuildings and right of use assets The carrying values of our vessels, newbuildings and right of use assets are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. Indicators of impairment are identified based on a combination of factors which include amongst other, development of secondhand vessel values based on external appraisals of our ships, development of forward freight rates, spot rates and operating cash flow. If impairment indicators exist, we assess the recoverability of the carrying value of each asset on an individual basis. We assess recoverability of the carrying value of owned vessels and newbuildings on an individual basis by estimating the future undiscounted cash flows expected to result from the asset, including any remaining construction costs for newbuildings, and eventual disposal. Fair value for our owned vessels and newbuildings is estimated based on values achieved for the sale/purchase of similar vessels and external appraisals. In addition, owned vessels held for sale are reported at the lower of carrying amount and fair value less estimated costs to sell. Recoverability of right of use assets is assessed on an asset by asset basis by estimating the future undiscounted cash flows from the right of use assets earned over the remaining lease term of our operating and finance leases. For owned vessels, newbuildings and right of use assets, if the future net undiscounted cash flows are less than the carrying value of the asset, or the current carrying value plus future newbuilding commitments, an impairment loss is recorded equal to the difference between the asset's carrying value and estimated fair value derived from cash flow based valuations. Interest expense Interest costs are expensed as incurred except for interest costs that are capitalized. For any newbuildings that are constructed, we capitalize interest expenses during construction of newbuildings based on accumulated expenditures for the applicable project at our current rate of borrowing. The capitalization of interest expenses ceases when the newbuilding is considered substantially completed. The amount of interest expense capitalized in an accounting period shall be determined by applying an interest rate (the "capitalization rate") to the average amount of accumulated expenditures for the asset during the period. The capitalization rates used in an accounting period are based on the rates applicable to borrowings outstanding during the period. We do not capitalize amounts beyond the actual interest expense inc urred in the period. Earnings per share Basic earnings per share is computed based on the income available to common stockholders and the weighted average number of shares outstanding. Treasury shares are weighted for the portion of the period they are outstanding. Diluted earnings per share includes the effect of the assumed conversion of potentially dilutive instruments. Cash and cash equivalents All demand and time deposits and highly liquid, low risk investments with original maturities of three months or less at the date of purchase are considered equivalent to cash. Cash includes cash on hand and in the Company's bank accounts. The Company is required to maintain a minimum cash balance in accordance with its debt facility agreements with various banks. Such amounts are included in Cash and cash equivalents. Restricted cash Restricted cash consists of cash, which may only be used for certain purposes under our contractual arrangements and primarily comprises collateral deposits for derivative trading. Marketable securities Our marketable securities are investments in equity securities with readily determinable fair values. These investments are measured at fair value and any resulting unrealized gains and losses are recorded in the consolidated statement of operations. Derivatives Our derivative instruments include interest-rate swaps, foreign currency swaps, forward freight agreements and bunker derivatives. These derivatives are considered to be economic hedges. However, none of these derivative instruments have been designated as hedges for accounting purposes. These transactions involve the conversion of floating rates into fixed rates over the life of the transactions without changes in the fair values are recognized as assets or liabilities. Changes in the fair value of these derivatives are recorded in Gain (loss) on derivatives in our consolidated statement of operations. Cash outflows and inflows resulting from economic derivative contracts are presented as cash flows from operations in the consolidated statement of cash flows. Financial instruments In determining the fair value of our financial instruments, we use a variety of methods and assumptions that are based on market conditions and risks, including determining the impact of nonperformance risks, existing at each balance sheet date. For the majority of financial instruments, including most derivatives and long-term debt, standard market conventions and techniques such as options pricing models are used to determine fair value. All methods of assessing fair value result in a general approximation of value, and such value may never actually be realized. Receivables Trade receivables, other receivables and long-term receivables are presented net of allowances for doubtful balances and credit losses. The company creates the allowance for expected credit losses to reflect the risk of estimated loss during the lifetime of receivables. The Company makes significant judgements and assumptions to estimate its expected losses. The allowance for credit losses can be determined using various methods, such as loss-rate methods, probability-of-default method or methods that utilize an aging schedule. At each reporting date, the allowance for credit losses is recorded as a reduction of receivables. Net income is adjusted to reflect the change in estimate from prior period. On January 1, 2020, we adopted ASU No 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, using a modified retrospective approach. The Company recorded a net decrease to retained earnings of $0.22 million as of January 1, 2020 for the cumulative effect of adopting the standard. If trade accounts receivable become uncollectible, they are charged as an operating expense. Allowance for doubtful balances is deducted from the allowance for credit losses and recorded separately as a reduction of accounts receivable. Allowance for doubtful balances are recorded in the period in which the financial assets are deemed uncollectible. Interest income on interest bearing receivables is recognized on an accrual basis using prevailing contractual interest rates. Inventories Inventories, which are comprised principally of fuel and lubricating oils, are stated at the lower of cost and net realizable value. Cost is determined on a first-in, first-out basis. Vessels, newbuildings and depreciation Vessels are stated at cost less accumulated depreciation. Newbuildings represent the accumulated costs to the balance sheet date which we have paid by way of purchase installments and other capital expenditures together with capitalized interest and associated finance costs. Depreciation is calculated based on cost less estimated residual value, using the straight-line method, over the useful life of each vessel. For newbuildings no charge for depreciation is made until the vessel is available for use. The useful life of each vessel is deemed to be 25 years. The residual value is calculated by multiplying the lightweight tonnage of the vessel by the market price of scrap per tonne. The market price of scrap per tonne is calculated as the 10-year historical average up to the date we take ownership of the vessel, across the two main recycling market s (Indian sub-continent and Bangladesh). Re sidual values are reviewed annually. Finance leases We charter in certain vessels and equipment under leasing agreements. Leases of vessels and equipment where we have substantially all the risks and rewards of ownership are classified as finance leases and we recognize on the balance sheet the right to use those assets and a corresponding liability. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We make significant judgments and assumptions to estimate our incremental borrowing rate that a lessee would have to pay to borrow on a 100% collateralized basis over a term similar to the lease term and in an amount equal to the lease payments in a similar economic environment. We perform the following steps in estimating our incremental borrowing rate: (i) gather observable debt yields of our recently issued debt facilities; and (ii) make adjustments to the yields of the actual debt facilities to reflect changes in collateral level, terms, the risk-free interest rate, and credit ratings. Each lease payment is allocated between liability and finance charges to achieve a constant rate on the finance balance outstanding. The interest element of the finance cost is expensed to the Consolidated Statement of Operations over the lease period. Variable lease payments that depend on an index or a rate are included in the calculation of lease payments and are measured using the prevailing index or rate at the measurement date. Future changes in an index or a rate are recognized as part of lease-related cost in each year. Depreciation of vessels and equipment under finance lease is included within "Depreciation" in the Consolidated Statement of Operations. Vessels and equipment under finance lease are depreciated on a straight-line basis over the vessels' remaining economic useful life or on a straight-line basis over the expected term of the lease if shorter. Upon termination of a finance lease, any remaining assets and obligations related to the vessel are written off to the Statement of Operations. The net position, including any termination payments, are presented in Other operating gains (losses). Operating leases Our operating leases relate to vessels, offices and equipment under leasing agreements that do not meet the criteria to be classified as finance leases. We recognize on the balance sheet the right to use those assets and a corresponding liability in respect of all material lease contracts with a duration, or lease term, of 12-months or above. Similar to our finance leases, the discount rate used for calculating the cost of the operating leases is the incremental cost of borrowing. The amortization of right of use assets relating to operating leased vessels is presented under charter hire expenses in the statement of operations. Impairment loss related to operating leases is presented in the income statement as a separate line within operating expense under Impairment loss on right of use assets. For our time charter-in contracts, a non-lease component, or service element has been determined which is reported under ship operating expenses. We make significant judgements and assumptions to separate the lease component from the non-lease component of our time chartered-in vessels. For purposes of determining the standalone selling price of the vessel lease and technical management service components of our time charters, we have concluded that the residual approach would be the most appropriate method to use given that vessel lease rates are highly variable depending on shipping market conditions, the duration of such charters, and the age of the vessel. We believe that the standalone transaction price attributable to the technical management service component is more readily determinable than the price of the lease component and, accordingly, the price of the service component is estimated and the residual transaction price is attributed to the vessel lease component. The amortization of right of use assets relating to office leases is reported under administrative expenses in the statement of operations. Upon termination of an operating lease, any remaining assets and obligations related to the vessel are written off to the Statement of Operations. Value of long-term charter contracts We account for the fair value of acquired long-term charter contracts, as either a separate asset or liability. The fair value is calculated as the net present value of the difference in cash flows arising over the period of the contract when the expected cash flows from the contract are compared to expected cash flows from comparable contracts at the acquisition date. An asset is recorded for contracts, which are favorable to us and a liability has been recorded for contracts, which are unfavorable to us. The amortization of time charter out contracts is recorded and presented under time charter revenues and the amortization of time charter-in contracts is amortized and presented under charter hire expenses in the consolidated statement of operations. Equity method investments Investments in companies over which we have the ability to exercise significant influence but do not control are accounted for using the equity method. We record our investments in equity-method investees in the consolidated balance sheets as "Investment in associated companies" and our share of the investees' earnings or losses in the consolidated statements of operations as "Share of results of associated companies". The excess, if any, of purchase price over book value of our investments in equity method investees is included in the accompanying consolidated balance sheets in "Investment in associated companies". The carrying values of equity method investments are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may no longer be recoverable. Such indicators may include depressed spot rates and depressed second-hand vessel values. We assess recoverability of the carrying value of each individual equity method investments by estimating the fair value of the net assets of the company. An impairment loss is recorded equal to the difference between the investments carrying value and fair value. Fair value of investment is estimated based on values achieved for the sale/purchase of similar vessels and appraised valuations of the investments underlying assets. Sales of shares of an investee is accounted for as gains or losses under non-operating items equal to the difference at the time of sale between selling price and carrying amount of the shares sold. Deferred charges Loan costs, including debt arrangement fees, are capitalized and amortized on a straight-line basis over the term of the relevant loan. The straight line basis of amortization approximates the effective interest method. If a loan is repaid early, any unamortized portion of the related deferred charges is charged against income in the period in which the loan is repaid. Amortization of deferred charges is included in interest expense. Debt issuance costs are presented in the balance sheet as a direct deduction from the carrying amount of the related debt. Distributions to shareholders Distributions to shareholders are applied first to retained earnings. When retained earnings are not sufficient, distributions are applied to the contributed capital surplus account. Stock-based compensation Stock based compensation represents the cost of vested and non-vested shares and share options granted to employees and to directors, for their services, and is included in “General and administrative expenses” in the consolidated statements of operations. The fair value of share options grants is determined with reference to option pricing models, and depends on the terms of the granted options. The fair value is recognized as compensation expense over the requisite service period for all awards that vest based on the ’straight-line method’ which treats such awards as a single award and results in recognition of the cost ratably over the entire vesting period. Treasury shares When the Company repurchases its share capital, the amount of the consideration paid is recognized as a deduction from equity and classified as treasury shares, pending future use. Treasury shares are recognized and measured at historic costs. In the event of a future resale, any price above the repurchase price would be allocated to additional paid in capital. The weighted average treasury shares reduce the number of shares outstanding used in calculating earnings per share. Comprehensive income The statement of comprehensive income presents the change in equity (net assets) during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by shareholders and distributions to shareholders. Reclassification adjustments are presented out of other comprehensive income on the face of the statement in which the components of other comprehensive income are presented or in the notes to the financial statements. The Company follows the provisions of ASC 220 “Comprehensive Income”, and presents items of net income (loss), items of other comprehensive income (“OCI”) and total comprehensive income in two separate and consecutive statements.

RECENTLY ISSUED ACCOUNTING STAN

RECENTLY ISSUED ACCOUNTING STANDARDS	12 Months Ended
	Dec. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS Accounting Standards Updates, recently adopted In March 2020, the FASB issued ASU 2020-04 (ASC 848 Reference Rate Reform), which provides optional expedients and exceptions for applying U.S. GAAP guidance to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update are elective and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Relief provided by ASU 2020-04, as amended by ASU 2022-06, Reference Rate Reform (ASC 848) – Deferral of the Sunset Date of Topic 848 – issued in December 2022, is optional and expires December 31, 2024. The Company has determined that reference rate reforms will primarily impact its floating rate debt facilities and the interest rate derivatives to which it is a party.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Bermuda We are incorporated in Bermuda. Under current Bermuda law, we are not required to pay taxes in Bermuda on either income or capital gains. We have received written assurance from the Minister of Finance in Bermuda that, in the event of any such taxes being imposed, we will be exempted from taxation until March 31, 2035. United States We do not accrue U.S. income taxes as we are not engaged in a U.S. trade or business and are exempted from a gross basis tax under Section 883 of the U.S. Internal Revenue Code. A reconciliation between the income tax expense resulting from applying the U.S. Federal statutory income tax rate and the reported income tax expense has not been presented herein as it would not provide additional useful information to users of the financial statements as our net income is subject to neither Bermuda nor U.S. tax. Singapore We are eligible and participate under the Maritime Sector Incentive-Approved International Shipping Enterprise (MSI- AIS) award in Singapore. All qualified shipping income derived from the shipping activity in our Singapore subsidiary is exempt from taxation for the duration of our MSI-AIS approval. The MSI-AIS approval was in June 2015 for a period of ten years. Other Jurisdictions Our subsidiaries in Norway and United Kingdom are subject to income tax. The tax paid by subsidiaries of the Company that are subject to income tax is not material to our consolidated financial statements and related disclosures.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our chief operating decision maker (the ''CODM''), measures performance based on our overall return to shareholders based on consolidated net income. The CODM does not review a measure of operating result at a lower level than the consolidated group and we only have one reportable segment. Our vessels operate worldwide and therefore management does not evaluate performance by geographical region as this information is not meaningful. For the year ended December 31, 2022, no customer accounted for 10% or more for our consolidated revenues. For the year ended December 31, 2021, one customer accounted for 10% or more of our consolidated revenues in the amount of $117.7 million. For the year ended December 31, 2020, no customer accounted for 10% or more of our consolidated revenues.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The components of the numerator and the denominator in the calculation of basic and diluted earnings per share are as follows: (in thousands of $) 2022 2021 2020 Net income (loss) 461,847 527,218 (137,669) (in thousands) 2022 2021 2020 Weighted average number of shares outstanding - basic 200,685 192,355 143,282 Dilutive impact of stock options 503 615 — Weighted average number of shares outstanding - diluted 201,188 192,970 143,282 In May 2022, 450,000 share options held by the management were exercised and as of December 31, 2022 there are 650,000 outstanding options which are dilutive under the treasury stock method by 503,047 shares. In 2022, the Company acquired an aggregate of 400,000 of our own shares, in open market transactions under our 2022 share buy-back program, of which 150,000 shares were acquired on the OSE and 250,000 shares were acquired on NASDAQ. The Company did not acquire any of its own shares in 2021 and 2020. All of the Company's own shares and distributions have been weighted for the portion of the period they were outstanding. As a result, the treasury shares reduced the weighted average number of shares outstanding in 2022, 2021 and 2020 by 506,096 , 786,425 and 990,765 shares, respectively.

OPERATING REVENUES

OPERATING REVENUES	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
OPERATING REVENUES	OPERATING REVENUES The following table shows the revenues earned from time charters, voyage charters and other revenues for the year ended December 31, 2022, 2021 and 2020: (in thousands of $) 2022 2021 2020 Time charter revenues 593,795 603,959 235,673 Voyage charter revenues 518,398 597,812 370,130 Other revenues 1,263 1,410 2,140 Total operating revenues 1,113,456 1,203,181 607,943 In 2022, 2021 and 2020, we recognized a total of $29.3 million , $49.1 million and $16.6 million , re spectively, in demurrage which is included under voyage charter revenues. Most of our voyage contracts are considered service contracts which fall under the provisions of ASC 606 because we, as the shipowner, retain control over the operations of the vessel such as directing the routes taken or the vessel speed. However, some of our voyage charter contracts could be considered to contain a lease. A voyage charter contains a lease component if the contract (i) specifies a specific vessel asset; and (ii) has terms that allow the charterer to exercise substantive decision-making rights, which have an economic value to the charterer and therefore allow the charterer to direct how and for what purpose the vessel is used. When a lessor, we have elected the practical expedient for our time charter contracts and voyage charter contracts that qualify as leases to not separate the non-lease component, or service element, from the lease. Furthermore, ASC 842 requires us to account for the combined component in accordance with ASC 606 revenues from contracts with customers if the non-lease components are the predominant components. Under this guidance we h ave assessed that the lease components were the predominant component for all of our time charter contracts. Furthermore, for certain of our voyage charter contracts the lease components were the predominant components. For the year ended December 31, 2022 the split between lease and non-lease component was as follows: (in thousands of $) Lease Non-lease Total Time charter revenues 579,673 14,122 593,795 Voyage charter revenues 49,746 468,652 518,398 Other revenues — 1,263 1,263 Total operating revenues 629,419 484,037 1,113,456 Variable lease income included into our time-charter agreements amou nted to $18.9 million, $21.0 million and $3.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. For the year ended December 31, 2021 the split between lease and non-lease component was as follows: (in thousands of $) Lease Non-lease Total Time charter revenues 603,959 — 603,959 Voyage charter revenues 192,895 404,917 597,812 Other revenues — 1,410 1,410 Total operating revenues 796,854 406,327 1,203,181 For the year ended December 31, 2020 the split between lease and non-lease component was as follows: (in thousands of $) Lease Non-lease Total Time charter revenues 235,673 — 235,673 Voyage charter revenues 26,111 344,019 370,130 Other revenues — 2,140 2,140 Total operating revenues 261,784 346,159 607,943 Certain voyage expenses are capitalized between the previous discharge port, or contract date if later, and the next load port and amortized between load port and discharge port. $29.5 million of contract assets were capitalized in the year ended December 31, 2022 under "Other current assets", of which $24.7 million was amortized up to December 31, 2022, leaving a remaining balance of $4.9 million. In 2022, $3.2 million of contract assets were amortized in relation to voyages in progress at the end of December 31, 2021. $20.2 million of contract assets were capitalized in the year ended December 31, 2021 under "Other current assets", of which $17.0 million was amortized up to December 31, 2021, leaving a remaining balance of $3.2 million. $3.2 million of contract assets were amortized in 2021 in relation to voyages in progress at the end of December 31, 2020. In 2020, we amortized an aggregate of $13.3 million of capitalized voyage expenses, or contract assets classified as other current assets. No impairment losses related to capitalized fulfillment costs were recognized in any of the periods. As of December 31 2022, we reported trade accounts receivable and the following contract assets in relation to our contracts with customers, including contracts containing lease components where the non-lease component was the predominant component and the revenues where therefore accounted for under ASC 606: (in thousands of $) 2022 2021 Voyages in progress (contract assets) 14,690 14,476 Trade accounts receivable 4,468 15,916 Other current assets (capitalized fulfillment costs) 4,894 3,249 Total 24,052 33,641 As of December 31, 2022, we recor ded $16.2 million (2021: $20.0 million) in to tal deferred charter revenue for consideration received or unearned revenue related to ongoing voyages at period end. In 2022, we recognized $20.0 million in revenue, which was deferred as at December 31, 2021, as the performance obligations were met . Credit loss allowance as of December 31, 2022 relating to the contract assets above amounted to $0.1 million . No impairment losses were recognized as of December 31, 2022. In 2021, we exited the CCL pool and, as such, no revenue was recognized relating to our vessels under the CCL RSA for the year ended December 31, 2022. Total revenues for 2021 and 2020 relating to our owned vessels that were under the CCL RSA or arrangements where we are considered the principal were $378.7 million and $264.1 million, respectively. In addition to these amounts, we retained or paid a net pro/contra amount based on a net settlement of our relative share of the pool results. The net pro/contra amounts relating to the pool arrangements where we were considered the principal were net negative $0.4 million a nd $2.0 million respectively, for 2022 and 2021 and positiv e $3.0 million in 2020. These amounts are presented under the line item “other operating income (expenses), net”. Total lease revenues for 2022, 2021 and 2020 relating to our owned Supramax vessels that were under the CTM RSA and which have been accounted for as operating leases we re nil, $17.3 million and $8.6 million, respectively.

GAIN ON SALE OF ASSETS

GAIN ON SALE OF ASSETS	12 Months Ended
	Dec. 31, 2022
Gain on Sale of Assets [Abstract]
GAIN ON SALE OF ASSETS	GAIN ON SALE OF ASSETS In November 2022, the Company entered into an agreement to sell a Panamax vessel, Golden Ice , to an unrelated third party for $14.6 million. Upon delivery of the vessel in December 2022, we recorded a gain of $2.8 million from the sale. In June 2022, we entered into an agreement to sell two Ultramax vessels, Golden Cecilie and Golden Cathrine , to an unrelated third party for $63.0 million en-bloc. Upon delivery of the vessels, we recorded a gain of $21.9 million from the sale in the third quarter of 2022. In February 2022, we entered into an agreement to sell three older Panamax vessels, Golden Empress , Golden Enterprise and Golden Endeavour , to an unrelated third party for $52.0 million en-bloc. Upon delivery of the vessels, we recorded a gain of $9.5 million from the sale in the second quarter of 2022. In October 2021, we announced the sale of two older Panamax vessels, Golden Opportunity and Golden Endurer , to unrelated third parties for an aggregate sale price of $37.2 million. We recorded a gain from sale of $4.9 million and $4.9 million related to Golden Opportunity and Golden Endurer , respectively. Both vessels were delivered to their new owners in November 2021.

IMPAIRMENT OF VESSELS

IMPAIRMENT OF VESSELS	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment Impairment or Disposal [Abstract]
IMPAIRMENT OF VESSELS	IMPAIRMENT OF VESSELS No impairment on vessels has been recorded in 2022. In January 2021, we entered into an agreement to sell Golden Saguenay , a Panamax vessel, to an unrelated third party for a total gross amount of $8.4 million. We recognized an impairment loss of $4.2 million from the sale in 2021. The vessel was delivered to its new owner in April 2021.

OPERATING LEASES

OPERATING LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
OPERATING LEASES	OPERATING LEASESAs of December 31, 2022, we leased in one vessel (2021: one vessel) from SFL and one vessel (2021: three vessels) from an unrelated third party, all of which are classified as operating leases. Additionally, as of December 31, 2022 and 2021, respectively, we had two operating leases for our offices in Oslo and Singapore. All of these leases had an initial duration above 12 months. In total we have leased in eight vessels from SFL, of which one of these vessels was classified as operating lease and remaining seven were classified as finance lease as of December 31, 2022. With reference to Note 27, "Related Party Transactions", these contracts were a result of a sale and leaseback transaction with SFL for eight Capesize vessels agreed in 2015. These vessels were sold en-bloc for an aggregate price of $272.0 million. The vessels were delivered to SFL in the third quarter of 2015 and were time chartered-in by one of our subsidiaries for a period of ten years. The daily time charter rate for SFL operating lease is $17,600, of which $7,000 is for operating expenses (including drydocking costs) up until the third quarter of 2022 when the daily time charter rate was reduced to $14,900 until the expiration of the contracts. In addition, 33% of our aggregate profit from revenues above the daily time charter rate for all eight vessels are calculated and paid on a quarterly basis to SFL. The daily hire payments will be adjusted if the actual three-month LIBOR should deviate from a base LIBOR of 0.4% per annum. For each 0.1% point increase/decrease in the interest rate level, the daily charter hire will increase or decrease by $50 per day in the first seven years and $25 per day in the remaining three years. This resulted in an average daily rate of $16,624 for SFL operating lease in 2022 and there was $3.0 million in total profit share for all eight SFL vessels in 2022 recorded as charter hire expense ($9.8 million and $37.9 thousand in 2021 and 2020, respectively). Contingent or variable lease expense for the eight SFL leases was recorded in 2022 as interest expense of $0.6 million. In 2021 and 2020 we recorded the variable lease expense of $2.0 million and $0.7 million, respectively. We have a purchase option of $112 million en-bloc after 10 years since inception of the leases in 2015. If such option is not exercised, SFL has the option to extend the charters by three years at a daily time charter rate of $14,900 per day. The lease term for these vessels has been determined to be 13 years. For the Ultramax vessel, Golden Hawk , which is chartered in from an unrelated third party, the daily rate is $13,200 until the expiration of the fixed term of the contract in the first quarter of 2022. Based on an agreement, if the 6-T/C Baltic Exchange Supramax Index exceeds the daily rate of $13,200, any such excess will be paid to the lessor but limited to the agreed compensation of $1.75 million. In 2021, the 6-T/C Baltic Exchange Supramax Index exceeded the daily rate of $13,200 and as of December 31, 2021, index linked compensation of $1.75 million was paid in full. In 2021, we extended Golden Hawk lease for approximately one year by using the first extension option in the contract. The daily rate during the first extension period was $13,700. Further, in 2022, we extended Golden Hawk lease for approximately one year by using the second extension option in the contract. The daily rate during the second extension period is $14,200. Admiral Schmidt and Vitus Bering are 2019-built 104,550 dwt ice-class vessels, chartered in 2019 on time charter for a firm period of three years, with four annual options exercisable by us to extend the lease. The contracts have been determined to be operating leases with a lease term of three years, respectively. The gross hire is determined based on a weighted average of the Baltic Panamax Index (BPI 4TC) and the Baltic Capesize Index (BCI 5TC) with a floor of $9,000 per day. In February 2022, we exercised the option to extend Admiral Schmidt and Vitus Bering contracts for one year each. In May 2022, we suspended time charter agreements with respect to Admiral Schmidt and Vitus Bering and redelivered the vessels to their owners, after understanding that those vessels were financed by owners as part of a sale-leaseback arrangement with a Russian-state owned entity. Exercise of extension options and suspension of the charter contract resulted in reassessment of the lease liability which was recorded as additions to right of use assets and right of use liabilities in the amount of $9.5 million during the first six months of 2022. As suspension agreement expired in November 2022 and vessels were not redelivered back to us, we are relieved from any duties, obligations, liabilities or commitments under the current contracts. Right of use assets, right of use liabilities and other contract related assets were written off and credited to charter hire expense in the total net positive amount of $2.0 million. Based on the charterparty contracts for Admiral Schmidt and Vitus Bering , for certain trades, a profit-sharing scheme between charterers and the owners comes into force. Up until May 2022, when vessels were redelivered, we did not incur any expenses due to profit sharing schemes (2021: $0.2 million) for these vessels. For operating leases mentioned above and vessels chartered in on short-term time charters, we have allocated the consideration due between the lease and non-lease components based upon the estimated stand- alone price of the services provided by the owner of the vessels. W e have presented a total of $17.3 million, $19.3 million and $19.2 million of the non-lease component, or service element, under ship operating expenses for 2022, 2021 and 2020, respectively. Furthermore, we are committed to making rental payments under operating leases for office premises. A lease expense of $0.6 million, $0.5 million and $0.5 million is recorded in Administrative expenses in the Consolidated Statement of Operations for 2022, 2021 and 2020, respectively. Our right of use assets for long-term operating leases were as follows: (in thousands of $) SFL Leases Golden Hawk Lease Admiral Schmidt and Vitus Bering Leases Office Leases Total Balance as of December 31, 2020 14,001 1,154 5,361 2,223 22,739 Additions and modification — 3,240 — 229 3,469 Amortization (1,820) (1,013) (3,053) (357) (6,243) Balance as of December 31, 2021 12,181 3,381 2,308 2,095 19,965 Additions — 3,081 9,484 — 12,565 Amortization (1,820) (2,698) (1,456) (574) (6,548) Modification — — (10,336) — (10,336) Balance as of December 31, 2022 10,361 3,764 — 1,521 15,646 The amortization of right of use assets relating to leased vessels is presented under charter hire expenses in the statement of operations. The amortization of right of use assets relating to office leases is presented under administrative expenses in the statement of operations. In 2022 and 2021, we recorded no impairment of right of use assets for operating leases. In 2020, we recorded a total of $24.2 million in impairment of right of use assets for operating leases. The loss recorded is equal to the difference between the carrying value of right of use assets and estimated fair value of the leased assets following an impairment review that was triggered by impairment indicators identified in the first quarter of 2020. Our lease obligations for long-term operating leases were as follows: (in thousands of $) SFL Leases Golden Hawk Lease Admiral Schmidt and Vitus Bering Leases Office Leases Total Balance as of December 31, 2020 18,559 4,747 16,470 2,261 42,037 Additions — — — — — Repayments (2,667) (4,357) (9,294) (201) (16,519) Modification — 3,240 — — 3,240 Foreign exchange translation — — — 9 9 Balance as of December 31, 2021 15,892 3,630 7,176 2,069 28,767 Additions — 3,081 9,484 — 12,565 Repayments (2,537) (2,874) (2,214) (606) (8,231) Modification — — (14,446) — (14,446) Foreign exchange translation — — — (58) (58) Balance as of December 31, 2022 13,355 3,837 — 1,405 18,597 Current portion 2,010 3,050 — 486 5,546 Non-current portion 11,345 787 — 919 13,051 Charter hire and office rent expense The future minimum operating lease expense payments (including lease and non-lease components) under our non-cancelable fixed rate operating leases as of December 31, 2022 are as follows: (in thousands of $) 2023 6,500 2024 4,169 2025 3,369 2026 2,809 2027 and thereafter 4,769 Total minimum lease payments 21,616 Less: Imputed interest (3,019) Present value of operating lease liabilities 18,597 The future minimum operating lease expense payments are based on the contractual cash outflows under non-cancelable contracts. The charter hire expense recognition is based upon the straight-line basis. As of December 31, 2022, the future rental payments include $1.7 million (2021: $2.2 million, 2020: $2.6 million) in relation to office rent costs and $19.9 million (2021: $30.4 million, 2020: $45.3 million) in relation to charter hire costs for leased in vessels. Total expense for operating leases reflected as charter hire expense was $57.2 million in 2022 (2021: $81.7 million, 2020: $29.0 million), which included $50.1 million for short-term leases (2021: $62.4 million, 2020: $23.5 million). Total cash paid in respect of operating leases was $66.7 million in 2022 (2021: $88.4 million, 2020: $35.7 million). The weighted average discount rate in relation to our operating leases was 5.02%, 5.36% and 5.20% for 2022, 2021 and 2020, respectively. The weighted average lease term was 4.7, 4.5 and 4.4 years in 2022, 2021 and 2020, respectively. Rental income As of December 31, 2022, we leased out five vessels on fixed time charter rates (2021: eight vessels) and 30 vessels (2021: 26 vessels) on index-linked time charter rates to third parties with initial periods ranging between one year and ten years. All of these leases are classified as operating leases. The future operating lease receipts under our operating leases as of December 31, 2022 are as follows: (in thousands of $) 2023 21,514 2024 — 2025 — 2026 — 2027 and thereafter — 21,514 An index-linked rate in time charter operating leases usually refers to freight rate indices issued by the Baltic Exchange, such as the Baltic Capesize Index and the Baltic Panamax Index, and as such essentially these contracts are operating in the spot market. Index-linked time charter rate operating leases in the table above are included at the minimum rate level of zero. As of December 31, 2022, the cost and accumulated depreciation of the 35 vessels which were leased out to third parties, were $1,826.7 million and $404.1 million, respectively.
OPERATING LEASES	OPERATING LEASESAs of December 31, 2022, we leased in one vessel (2021: one vessel) from SFL and one vessel (2021: three vessels) from an unrelated third party, all of which are classified as operating leases. Additionally, as of December 31, 2022 and 2021, respectively, we had two operating leases for our offices in Oslo and Singapore. All of these leases had an initial duration above 12 months. In total we have leased in eight vessels from SFL, of which one of these vessels was classified as operating lease and remaining seven were classified as finance lease as of December 31, 2022. With reference to Note 27, "Related Party Transactions", these contracts were a result of a sale and leaseback transaction with SFL for eight Capesize vessels agreed in 2015. These vessels were sold en-bloc for an aggregate price of $272.0 million. The vessels were delivered to SFL in the third quarter of 2015 and were time chartered-in by one of our subsidiaries for a period of ten years. The daily time charter rate for SFL operating lease is $17,600, of which $7,000 is for operating expenses (including drydocking costs) up until the third quarter of 2022 when the daily time charter rate was reduced to $14,900 until the expiration of the contracts. In addition, 33% of our aggregate profit from revenues above the daily time charter rate for all eight vessels are calculated and paid on a quarterly basis to SFL. The daily hire payments will be adjusted if the actual three-month LIBOR should deviate from a base LIBOR of 0.4% per annum. For each 0.1% point increase/decrease in the interest rate level, the daily charter hire will increase or decrease by $50 per day in the first seven years and $25 per day in the remaining three years. This resulted in an average daily rate of $16,624 for SFL operating lease in 2022 and there was $3.0 million in total profit share for all eight SFL vessels in 2022 recorded as charter hire expense ($9.8 million and $37.9 thousand in 2021 and 2020, respectively). Contingent or variable lease expense for the eight SFL leases was recorded in 2022 as interest expense of $0.6 million. In 2021 and 2020 we recorded the variable lease expense of $2.0 million and $0.7 million, respectively. We have a purchase option of $112 million en-bloc after 10 years since inception of the leases in 2015. If such option is not exercised, SFL has the option to extend the charters by three years at a daily time charter rate of $14,900 per day. The lease term for these vessels has been determined to be 13 years. For the Ultramax vessel, Golden Hawk , which is chartered in from an unrelated third party, the daily rate is $13,200 until the expiration of the fixed term of the contract in the first quarter of 2022. Based on an agreement, if the 6-T/C Baltic Exchange Supramax Index exceeds the daily rate of $13,200, any such excess will be paid to the lessor but limited to the agreed compensation of $1.75 million. In 2021, the 6-T/C Baltic Exchange Supramax Index exceeded the daily rate of $13,200 and as of December 31, 2021, index linked compensation of $1.75 million was paid in full. In 2021, we extended Golden Hawk lease for approximately one year by using the first extension option in the contract. The daily rate during the first extension period was $13,700. Further, in 2022, we extended Golden Hawk lease for approximately one year by using the second extension option in the contract. The daily rate during the second extension period is $14,200. Admiral Schmidt and Vitus Bering are 2019-built 104,550 dwt ice-class vessels, chartered in 2019 on time charter for a firm period of three years, with four annual options exercisable by us to extend the lease. The contracts have been determined to be operating leases with a lease term of three years, respectively. The gross hire is determined based on a weighted average of the Baltic Panamax Index (BPI 4TC) and the Baltic Capesize Index (BCI 5TC) with a floor of $9,000 per day. In February 2022, we exercised the option to extend Admiral Schmidt and Vitus Bering contracts for one year each. In May 2022, we suspended time charter agreements with respect to Admiral Schmidt and Vitus Bering and redelivered the vessels to their owners, after understanding that those vessels were financed by owners as part of a sale-leaseback arrangement with a Russian-state owned entity. Exercise of extension options and suspension of the charter contract resulted in reassessment of the lease liability which was recorded as additions to right of use assets and right of use liabilities in the amount of $9.5 million during the first six months of 2022. As suspension agreement expired in November 2022 and vessels were not redelivered back to us, we are relieved from any duties, obligations, liabilities or commitments under the current contracts. Right of use assets, right of use liabilities and other contract related assets were written off and credited to charter hire expense in the total net positive amount of $2.0 million. Based on the charterparty contracts for Admiral Schmidt and Vitus Bering , for certain trades, a profit-sharing scheme between charterers and the owners comes into force. Up until May 2022, when vessels were redelivered, we did not incur any expenses due to profit sharing schemes (2021: $0.2 million) for these vessels. For operating leases mentioned above and vessels chartered in on short-term time charters, we have allocated the consideration due between the lease and non-lease components based upon the estimated stand- alone price of the services provided by the owner of the vessels. W e have presented a total of $17.3 million, $19.3 million and $19.2 million of the non-lease component, or service element, under ship operating expenses for 2022, 2021 and 2020, respectively. Furthermore, we are committed to making rental payments under operating leases for office premises. A lease expense of $0.6 million, $0.5 million and $0.5 million is recorded in Administrative expenses in the Consolidated Statement of Operations for 2022, 2021 and 2020, respectively. Our right of use assets for long-term operating leases were as follows: (in thousands of $) SFL Leases Golden Hawk Lease Admiral Schmidt and Vitus Bering Leases Office Leases Total Balance as of December 31, 2020 14,001 1,154 5,361 2,223 22,739 Additions and modification — 3,240 — 229 3,469 Amortization (1,820) (1,013) (3,053) (357) (6,243) Balance as of December 31, 2021 12,181 3,381 2,308 2,095 19,965 Additions — 3,081 9,484 — 12,565 Amortization (1,820) (2,698) (1,456) (574) (6,548) Modification — — (10,336) — (10,336) Balance as of December 31, 2022 10,361 3,764 — 1,521 15,646 The amortization of right of use assets relating to leased vessels is presented under charter hire expenses in the statement of operations. The amortization of right of use assets relating to office leases is presented under administrative expenses in the statement of operations. In 2022 and 2021, we recorded no impairment of right of use assets for operating leases. In 2020, we recorded a total of $24.2 million in impairment of right of use assets for operating leases. The loss recorded is equal to the difference between the carrying value of right of use assets and estimated fair value of the leased assets following an impairment review that was triggered by impairment indicators identified in the first quarter of 2020. Our lease obligations for long-term operating leases were as follows: (in thousands of $) SFL Leases Golden Hawk Lease Admiral Schmidt and Vitus Bering Leases Office Leases Total Balance as of December 31, 2020 18,559 4,747 16,470 2,261 42,037 Additions — — — — — Repayments (2,667) (4,357) (9,294) (201) (16,519) Modification — 3,240 — — 3,240 Foreign exchange translation — — — 9 9 Balance as of December 31, 2021 15,892 3,630 7,176 2,069 28,767 Additions — 3,081 9,484 — 12,565 Repayments (2,537) (2,874) (2,214) (606) (8,231) Modification — — (14,446) — (14,446) Foreign exchange translation — — — (58) (58) Balance as of December 31, 2022 13,355 3,837 — 1,405 18,597 Current portion 2,010 3,050 — 486 5,546 Non-current portion 11,345 787 — 919 13,051 Charter hire and office rent expense The future minimum operating lease expense payments (including lease and non-lease components) under our non-cancelable fixed rate operating leases as of December 31, 2022 are as follows: (in thousands of $) 2023 6,500 2024 4,169 2025 3,369 2026 2,809 2027 and thereafter 4,769 Total minimum lease payments 21,616 Less: Imputed interest (3,019) Present value of operating lease liabilities 18,597 The future minimum operating lease expense payments are based on the contractual cash outflows under non-cancelable contracts. The charter hire expense recognition is based upon the straight-line basis. As of December 31, 2022, the future rental payments include $1.7 million (2021: $2.2 million, 2020: $2.6 million) in relation to office rent costs and $19.9 million (2021: $30.4 million, 2020: $45.3 million) in relation to charter hire costs for leased in vessels. Total expense for operating leases reflected as charter hire expense was $57.2 million in 2022 (2021: $81.7 million, 2020: $29.0 million), which included $50.1 million for short-term leases (2021: $62.4 million, 2020: $23.5 million). Total cash paid in respect of operating leases was $66.7 million in 2022 (2021: $88.4 million, 2020: $35.7 million). The weighted average discount rate in relation to our operating leases was 5.02%, 5.36% and 5.20% for 2022, 2021 and 2020, respectively. The weighted average lease term was 4.7, 4.5 and 4.4 years in 2022, 2021 and 2020, respectively. Rental income As of December 31, 2022, we leased out five vessels on fixed time charter rates (2021: eight vessels) and 30 vessels (2021: 26 vessels) on index-linked time charter rates to third parties with initial periods ranging between one year and ten years. All of these leases are classified as operating leases. The future operating lease receipts under our operating leases as of December 31, 2022 are as follows: (in thousands of $) 2023 21,514 2024 — 2025 — 2026 — 2027 and thereafter — 21,514 An index-linked rate in time charter operating leases usually refers to freight rate indices issued by the Baltic Exchange, such as the Baltic Capesize Index and the Baltic Panamax Index, and as such essentially these contracts are operating in the spot market. Index-linked time charter rate operating leases in the table above are included at the minimum rate level of zero. As of December 31, 2022, the cost and accumulated depreciation of the 35 vessels which were leased out to third parties, were $1,826.7 million and $404.1 million, respectively.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	12 Months Ended
	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	CASH, CASH EQUIVALENTS AND RESTRICTED CASHAs of December 31, 2022, 2021 and 2020, the following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position that sum to the total of the same such amounts shown in the statement of cash flows. (in thousands of $) 2022 2021 2020 Cash and cash equivalents 134,784 197,032 153,093 Short-term restricted cash 3,289 12,985 22,009 Total cash, cash equivalents and restricted cash shown in the statement of cash flows 138,073 210,017 175,102 According to our accounting policy, amounts included in cash and cash equivalents include cash balances that are required to be maintained by the financial covenants in our loan facilities. Under our debt facilities, we need to maintain free cash of the higher of $20 million or 5% of total interest bearing debt. We have covenanted to retain at least $61.3 million of cash and cash equivalents as of December 31, 2022 (as of December 31, 2021: $69.5 million and as of December 31, 2020: $59.8 million).

MARKETABLE EQUITY SECURITIES

MARKETABLE EQUITY SECURITIES	12 Months Ended
	Dec. 31, 2022
Marketable Securities [Abstract]
MARKETABLE EQUITY SECURITIES	MARKETABLE EQUITY SECURITIES Our marketable securities consist of equity securities in Eneti Inc, a company engaged in marine based renewable energy. Eneti Inc was until February 2021 named Scorpio Bulkers Inc., engaged in dry bulk shipping. Eneti Inc is listed on the New York Stock Exchange. (in thousands of $) 2022 2021 Balance at start of year 1,684 3,684 Unrealized gain (loss), net 503 (2,000) Total marketable equity securities 2,187 1,684 In 2022, we have received approximately $8.7 thousand in dividends from our investment in Eneti Inc.

TRADE ACCOUNTS RECEIVABLE, NET

TRADE ACCOUNTS RECEIVABLE, NET	12 Months Ended
	Dec. 31, 2022
TRADE ACCOUNTS RECEIVABLE, NET [Abstract]
TRADE ACCOUNTS RECEIVABLE, NET	TRADE ACCOUNTS RECEIVABLE, NET Trade accounts receivables are stated net of a provision for doubtful accounts and credit loss allowance. (in thousands of $) 2022 2021 2020 Trade accounts receivable 15,397 29,135 22,904 Provision for doubtful accounts (403) (253) (165) Allowance for expected credit losses (44) (44) (35) Total trade accounts receivable, net 14,950 28,838 22,704 Allowance for credit losses for trade accounts receivable amounted to $44 thousand as of December 31, 2022 and $44 thousand as of December 31, 2021. Movements in the provision for doubtful accounts in the three years ended December 31, 2022 are summarized as follows: (in thousands of $) Balance as of December 31, 2019 594 Additions charged to income 165 Deductions credited to trade receivables (594) Balance as of December 31, 2020 165 Additions charged to income 253 Deductions credited to trade receivables (165) Balance as of December 31, 2021 253 Additions charged to income 403 Deductions credited to trade receivables (253) Balance as of December 31, 2022 403

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER CURRENT ASSETS	OTHER CURRENT ASSETS (in thousands of $) 2022 2021 Capitalized fulfillment costs 4,894 3,541 Agent receivables 2,207 1,227 Advances 2,023 1,644 Claims receivables 5,967 4,342 Bunker receivables on time charter-out contracts 28,555 16,312 Other receivables 10,784 8,092 Total other current assets 54,430 35,158

VALUE OF CHARTER PARTY CONTRACT

VALUE OF CHARTER PARTY CONTRACTS	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
VALUE OF CHARTER PARTY CONTRACTS	VALUE OF CHARTER PARTY CONTRACTS The value of favorable charter-out contracts is summarized as follows: (in thousands of $) 2022 2021 2020 Opening balance — 4,073 16,221 Amortization charge — (4,073) (12,148) Total — — 4,073 Less: current portion — — (4,073) Non-current portion — — — Value of the favorable charter party contracts relates primarily to contracts acquired as part of the Merger. Time charter revenues in 2022, 2021 and 2020 have been reduced by nil, $4.1 million and $12.1 million, respectively, as a result of the amortization of these favorable charter-out contracts. As of December 31, 2022, the remaining value of these favorable charter-out contracts is nil. With reference to Note 16, "Vessels and Equipment, Net'', in co

VESSELS AND EQUIPMENT, NET

VESSELS AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
VESSELS AND EQUIPMENT, NET	VESSELS AND EQUIPMENT, NET (in thousands of $) Cost Accumulated Depreciation Net Book Value Balance as of December 31, 2020 2,726,105 (458,419) 2,267,686 Additions Vessel Acquisitions 640,991 — 640,991 Additions BWTS 2,911 — 2,911 Disposals (18,746) 4,103 (14,643) Transfer from newbuildings 116,446 — 116,446 Transfer to held for sale (27,635) 7,506 (20,129) Impairment loss (4,187) — (4,187) Depreciation — (108,754) (108,754) Balance as of December 31, 2021 3,435,885 (555,564) 2,880,321 Additions BWTS 6,044 — 6,044 Disposals and transfer to Vessels Held for Sale* (123,524) 30,358 (93,166) Transfer to Vessels Held for Sale** (17,627) 5,085 (12,542) Depreciation — (114,872) (114,872) Balance as of December 31, 2022 3,300,778 (634,993) 2,665,785 *this line includes vessels sold and delivered to new owners during 2022 **this line includes transfer to Vessels held for sale which are reflected on the balance sheet as of December 31, 2022 As of December 31, 2022, we owned 13 Newcastlemaxes, 35 Capesizes and 27 Panamaxes (as of December 31, 2021: 13 Newcastlemaxes, 35 Capesizes, 31 Panamaxes and two Ultramaxes). In November 2022, we entered into an agreement to sell two Panamax vessels, Golden Ice and Golden Strength , to an unrelated third party for an aggregate sales price of $30.3 million . Golden Ice was delivered to its new owner in December 2022, at which time we recorded a gain of $2.8 million. Golden Strength was delivered to its new owner in January 2023, and classified as held for sale as of December 31, 2022. We expect to record a gain of approximately $2.7 million in the first q uarter of 2023. In June 2022, we entered into an agreement to sell en-bloc two Ultramax vessels, Golden Cecilie and Golden Cathrine to an unrelated third party for $63.0 million. The vessels were delivered to their new owner in the third quarter of 2022, upon which we recorded a gain of $21.9 million from the sale. In February 2022, we entered into an agreement to sell en-bloc three older Panamax vessels, Golden Empress , Golden Enterprise and Golden Endeavour to an unrelated third party for $52 million. The vessels were delivered to their new owner in the second quarter of 2022 upon which we recorded a gain of $9.5 million from the sale. In February 2021, we entered into an agreement to acquire 15 modern dry bulk vessels and three newbuildings for a total consideration of $752 million from affiliates of Hemen, our largest shareholder, whereas $637.5 million related to vessels and $114.5 million related to newbuildings. The Vessel Acquisitions have been accounted for as an asset acquisition rather than a business combination as substantially all the fair value of the gross assets acquired on closing of the Vessel Acquisitions is concentrated in the value of the vessels, being a group of similar identifiable assets. We took delivery of all vessels and newbuildings in the first six months of 2021. In aggregate we capitalized $757.4 million under vessel and equipment related to the 15 vessels and three newbuildings, which includes $752 million consideration, $2.2 million relating to unfavorable contracts (reference to Note 15, "Value of Charter Party Contracts"), $2.1 million for newbuildings predelivery and technical supervision costs (reference to Note 17, "Newbuildings") and various other costs of $1.1 million. In 2021, we sold a total of three vessels, Golden Endurer , Golden Opportunity and Golden Saguenay . For Golden Endurer and Golden Opportunity, we recorded a total gain of $9.8 million, while for Golden Saguenay we recorded an impairment loss of $4.2 million. In 2020, we sold one vessel, Golden Shea , and recorded an impairment loss of $0.7 million. In 2022, we capitalized a total of $6.0 million in relation to the installation of ballast water treatment systems ("BWTS"). In 2021, we capitalized a total of $2.9 million in relation to the installation of BWTS. In 2020, we capitalized in total $1.2 million in relation to the installation of ballast water treatment system and $30.4 million in relation to the completed installation of scrubbers. Total depreciation expense for own vessels was $114.9 million, $108.8 million and $94.4 million in 2022, 2021 and 2020, respectively. For depreciation expense for finance leases, please refer to Note 18, "Finance Leases." In November 2022, we entered into an agreement to sell a Panamax vessel, Golden Strength , to an unrelated third party for $15.6 million. The vessel was delivered to its new owner in January 2023 and was classified as held for sale as of December 31, 2022. There were no vessels held for sale as of December 31, 2021.

NEWBUILDINGS

NEWBUILDINGS	12 Months Ended
	Dec. 31, 2022
Newbuildings [Abstract]
NEWBUILDINGS	NEWBUILDINGS The carrying value of our newbuildings at December 31, 2022 of $91.9 million. In June 2022, we entered into agreements to construct a total of three Kamsarmax vessels. The vessels are expected to be delivered to us during 2024. In the second half of 2021, we entered into an agreement for the construction of seven high-specification latest generation 85,000 dwt ECO-type Kamsarmax vessels. The contract price is payable in several installments between the fourth quarter of 2021 and the first quarter of 2024. Four out of these seven newbuildings are expected to be delivered in the first half of 2023, two are expected to be delivered to us by the end of 2023 and the last one expected to be delivered in 2024. In 2022, we paid installments, net of commissions, in total of $53.4 million. In 2021, we paid installments, net of commissions, of $35.6 million. In 2022 we capitalized interest expense of $2.4 million for our ten Kamsarmax newbuildings. Remaining Kamsarmax newbuildings commitments of $255.6 million will be partially financed with the proceeds from the sales of older vessels, including the sale of Golden Strength (refer to Note 30, ''Subsequent Events''), cash on hand, operating cash flows and debt financing to be established closer to the delivery of the newbuildings. As part of the Vessel Acquisitions in 2021 we acquired three newbuildings through acquisition of shares of three special purpose companies ("SPCs") with shipbuilding contracts ( Golden Spray , Golden Fast and Golden Furious ). Total consideration transferred for the shares in the SPCs amounted to $44.2 million, representing the purchase price, less remaining capital expenditure commitments, and in addition included $0.6 million working capital payment which was recorded as ‘Other assets’. Furth er, final payments to the shipyards for all three of these newbuildings amounted to $68.4 million, which was paid in 2021 net of $2.5 million penalty received from shipyards for late delivery of newbuildings (liquidated damages). In order to make a final settlement with the shipyards, we made a cash draw down on $413.6 million Sterna facility of $63.0 million. Out of total $2.5 million in liquidated damages received from the shipyards by us, $2.2 million were reimbursed to Hemen (for the period when newbuildings belonged to Hemen). In addition, we paid $2.1 million predelivery and technical supervision costs. Total newbuilding balance of $116.4 million was transferred to Vessel and Equipment upon delivery of newbuildings. Golden Spray , Golden Fast and Golden Furious were delivered in 2021 and there is no remaining newbuildings balance for Golden Spray , Golden Fast and Golden Furious as

FINANCE LEASES

FINANCE LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
FINANCE LEASES	FINANCE LEASES As of December 31, 2022, we held seven vessels under finance lease (December 31, 2021: seven vessels). With reference to Note 10, ''Operating Leases'', we have leased in eight vessels from SFL,a related party, one of these vessels was classified as operating lease and remaining seven were classified as finance lease as of December 31, 2022. The daily time charter rate for vessels classified as finance lease was $19,135, of which $7,000 is for operating expenses (including drydocking costs) up until the third quarter of 2022 when the daily time charter rate was reduced to $16,435 up until June 30, 2025. Subsequently, the daily time charter rate will be reduced to $14,900 until the expiration of the contracts. For the finance leases, the profit share mechanism is calculated based on a base rate of $14,900 adjusted for LIBOR based variable lease consideration. For further description of the calculation of the profit share element and payment structure, refer to Note 10, "Operating Leases". The average daily rate was calculated to be $18,159 for finance leases in 2022 and there was $3.0 million in profit share for all eight SFL vessels in 2022 ($9.8 million and $37.9 thousand in 2021 and 2020, respectively). Contingent or variable lease expense for the eight SFL leases was recorded in 2022 as interest expense of $0.6 million. In 2021 and 2020 we recorded the variable lease expense of $2.0 million and $0.7 million, respectively. For a description of purchase options, refer to Note 10, "Operating Leases". The lease term for these vessels has been determined to be 13 years. Our right of use asset for our finance leases were as follows: (in thousands of $) Balance as of January 1, 2021 113,480 Additions — Depreciation (14,945) Impairment — Balance as of December 31, 2021 98,535 Additions — Depreciation (14,946) Impairment — Balance as of December 31, 2022 83,589 In 2020, we recorded a total of $70.0 million in impairment of right of use assets for vessels under finance leases. The loss recorded is equal to the difference between the carrying value of right of use assets and estimated fair value of the leased assets following an impairment review that was triggered by the negative market developments in the start of 2020. Our lease obligations for our finance leases were as follows: (in thousands of $) Balance as of January 1, 2021 151,205 Additions — Repayments (32,237) Interest expense on obligations under finance lease 8,762 Balance as of January 1, 2022 127,730 Additions — Repayments (29,059) Interest expense on obligations under finance lease 7,304 Balance as of December 31, 2022 105,975 Current portion 18,387 Non-current portion 87,588 The weighted average discount rate in relation to our SFL finance leases was 6.3% and the weighted average lease term was 5.6 years as of December 31, 2022. The weighted average discount rate was 6.3% and the weighted average lease term was 6.6 years as of December 31, 2021. The outstanding obligations under finance leases as of December 31, 2022 are payable as follows: (in thousands of $) 2023 24,484 2024 24,553 2025 22,551 2026 20,617 2027 20,617 Thereafter 12,320 Minimum lease payments 125,142 Less: imputed interest (19,167) Present value of obligations under finance leases 105,975

VESSELS HELD FOR SALE

VESSELS HELD FOR SALE	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
VESSELS HELD FOR SALE	VESSELS AND EQUIPMENT, NET (in thousands of $) Cost Accumulated Depreciation Net Book Value Balance as of December 31, 2020 2,726,105 (458,419) 2,267,686 Additions Vessel Acquisitions 640,991 — 640,991 Additions BWTS 2,911 — 2,911 Disposals (18,746) 4,103 (14,643) Transfer from newbuildings 116,446 — 116,446 Transfer to held for sale (27,635) 7,506 (20,129) Impairment loss (4,187) — (4,187) Depreciation — (108,754) (108,754) Balance as of December 31, 2021 3,435,885 (555,564) 2,880,321 Additions BWTS 6,044 — 6,044 Disposals and transfer to Vessels Held for Sale* (123,524) 30,358 (93,166) Transfer to Vessels Held for Sale** (17,627) 5,085 (12,542) Depreciation — (114,872) (114,872) Balance as of December 31, 2022 3,300,778 (634,993) 2,665,785 *this line includes vessels sold and delivered to new owners during 2022 **this line includes transfer to Vessels held for sale which are reflected on the balance sheet as of December 31, 2022 As of December 31, 2022, we owned 13 Newcastlemaxes, 35 Capesizes and 27 Panamaxes (as of December 31, 2021: 13 Newcastlemaxes, 35 Capesizes, 31 Panamaxes and two Ultramaxes). In November 2022, we entered into an agreement to sell two Panamax vessels, Golden Ice and Golden Strength , to an unrelated third party for an aggregate sales price of $30.3 million . Golden Ice was delivered to its new owner in December 2022, at which time we recorded a gain of $2.8 million. Golden Strength was delivered to its new owner in January 2023, and classified as held for sale as of December 31, 2022. We expect to record a gain of approximately $2.7 million in the first q uarter of 2023. In June 2022, we entered into an agreement to sell en-bloc two Ultramax vessels, Golden Cecilie and Golden Cathrine to an unrelated third party for $63.0 million. The vessels were delivered to their new owner in the third quarter of 2022, upon which we recorded a gain of $21.9 million from the sale. In February 2022, we entered into an agreement to sell en-bloc three older Panamax vessels, Golden Empress , Golden Enterprise and Golden Endeavour to an unrelated third party for $52 million. The vessels were delivered to their new owner in the second quarter of 2022 upon which we recorded a gain of $9.5 million from the sale. In February 2021, we entered into an agreement to acquire 15 modern dry bulk vessels and three newbuildings for a total consideration of $752 million from affiliates of Hemen, our largest shareholder, whereas $637.5 million related to vessels and $114.5 million related to newbuildings. The Vessel Acquisitions have been accounted for as an asset acquisition rather than a business combination as substantially all the fair value of the gross assets acquired on closing of the Vessel Acquisitions is concentrated in the value of the vessels, being a group of similar identifiable assets. We took delivery of all vessels and newbuildings in the first six months of 2021. In aggregate we capitalized $757.4 million under vessel and equipment related to the 15 vessels and three newbuildings, which includes $752 million consideration, $2.2 million relating to unfavorable contracts (reference to Note 15, "Value of Charter Party Contracts"), $2.1 million for newbuildings predelivery and technical supervision costs (reference to Note 17, "Newbuildings") and various other costs of $1.1 million. In 2021, we sold a total of three vessels, Golden Endurer , Golden Opportunity and Golden Saguenay . For Golden Endurer and Golden Opportunity, we recorded a total gain of $9.8 million, while for Golden Saguenay we recorded an impairment loss of $4.2 million. In 2020, we sold one vessel, Golden Shea , and recorded an impairment loss of $0.7 million. In 2022, we capitalized a total of $6.0 million in relation to the installation of ballast water treatment systems ("BWTS"). In 2021, we capitalized a total of $2.9 million in relation to the installation of BWTS. In 2020, we capitalized in total $1.2 million in relation to the installation of ballast water treatment system and $30.4 million in relation to the completed installation of scrubbers. Total depreciation expense for own vessels was $114.9 million, $108.8 million and $94.4 million in 2022, 2021 and 2020, respectively. For depreciation expense for finance leases, please refer to Note 18, "Finance Leases." In November 2022, we entered into an agreement to sell a Panamax vessel, Golden Strength , to an unrelated third party for $15.6 million. The vessel was delivered to its new owner in January 2023 and was classified as held for sale as of December 31, 2022. There were no vessels held for sale as of December 31, 2021.

EQUITY METHOD INVESTMENTS

EQUITY METHOD INVESTMENTS	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENTS	EQUITY METHOD INVESTMENTS As of December 31, 2022, the Company had the following participation in investments that are recorded using the equity method: (% of ownership) 2022 2021 TFG Marine Pte Ltd ("TFG Marine") 10.00 % 10.00 % SwissMarine Pte. Ltd. ("SwissMarine")** 16.40 % 17.50 % United Freight Carriers LLC. ("UFC") 50.00 % 50.00 % Capesize Chartering Ltd. ("CCL")* — 25.00 % *Following the termination of the pool agreement, in February 2022 our 25% share in CCL was sold for $17.5 thousands . ** In March 2023, our ownership in SwissMarine was diluted from 16.4% to 15.9%. Movements in equity method investments for the years ended December 31, 2022 and 2021 are summarized as follows: (in thousands of $) Swiss Marine UFC TFG Marine Other Total Balance as of December 31, 2020 15,371 545 483 — 16,399 Share of income / (loss) 24,351 1,073 (483) 3 24,944 Balance as of December 31, 2021 39,722 1,618 — 3 41,343 Distributions received from associated companies (9,828) (6,445) — — (16,273) Loss on disposal of equity method investments (891) — — — (891) Share of income 22,434 9,039 10,211 — 41,684 Other — — — (463) (463) Balance a s of December 31, 2022 51,437 4,212 10,211 (460) 65,400 We have an equity investment of 16.4% in SwissMarine, a dry bulk freight operator. Our ownership in SwissMarine was diluted in March 2022 from 17.5% to 16.4% as a result of issuance of additional shares by SwissMarine to its employees. We have also provided a $10.7 million subordinated shareholder loan with a five-year term to SwissMarine, which was partially repaid by SwissMarine in 2020 and remaining balance of subordinated shareholder loan of $5.35 million was fully repaid by SwissMarine in 2022. We account for this investment under the equity method as we determined that we have a significant influence over the investee. In January 2020, we entered into a joint venture agreement with Frontline and its subsidiary Bandama Investments Ltd and Trafigura Pte Ltd to establish TFG Marine, a leading global supplier of marine fuels. As a result, we acquired a 10% interest in TFG Marine. We also provided a shareholder loan of $1.0 million to TFG Marine, with outstanding amount of $0.9 million as of December 31, 2022. The loan has a five-year term and bears interest of LIBOR plus a margin of 7%. With reference to Note 30, "Subsequent Events", the loan was fully repaid in February 2023. W e account for this investment under the equity method as we determined that we have a significant influence over the investee. We also have an equity investment of 50% of the shares in UFC, a dry cargo vessel operator and logistics service provider. We account for this investment under the equity method, and the book value of the investment amounted to $4.2 million as of December 31, 2022. Further, in 2022, we received dividends from UFC in total of $6.4 million.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT (in thousands of $) 2022 2021 $275.0 million term loan and revolving facility 263,943 — $304.0 million term loan and revolving facility 216,622 235,315 $93.75 million term loan 70,739 77,314 $131.79 million term loan 88,856 98,681 $155.3 million term loan 70,890 121,573 $120.0 million term loan 63,545 81,071 $420.0 million term loan — 280,387 $260.0 million lease financing 244,524 256,905 $175.0 million term loan and revolving facility 112,387 122,477 Total U.S. dollar denominated floating rate debt 1,131,506 1,273,723 Deferred charges (10,650) (11,378) Total debt 1,120,856 1,262,345 Current portion of debt (92,865) (105,864) Long-term portion of debt 1,027,991 1,156,481 Movements in 2022, 2021 and 2020 are summarized as follows: (in thousands of $) Floating rate debt Deferred charges Total Balance as of December 31, 2019 1,122,148 (8,278) 1,113,870 Loan repayments (390,138) — (390,138) Loan draw downs 322,012 — 322,012 Capitalization of debt issuance cost, net of amortization — (261) (261) Balance as of December 31, 2020 1,054,022 (8,539) 1,045,483 Loan repayments (628,900) — (628,900) Loan draw downs 848,601 — 848,601 Capitalization of debt issuance cost, net of amortization — (2,839) (2,839) Balance as of December 31, 2021 1,273,723 (11,378) 1,262,345 Loan repayments (417,217) — (417,217) Loan draw downs 275,000 — 275,000 Capitalized financing fees and expenses — (2,890) (2,890) Amortization of debt issuance cost — 3,618 3,618 Balance as of December 31, 2022 1,131,506 (10,650) 1,120,856 $275.0 million term loan facility In May 2022, we signed a loan agreement for a $275.0 million term loan and revolving facility to refinance our obligations under the $420.0 million loan facility described below. The $420 million loan facility was secured by 14 Capesize vessels was scheduled to mature in June 2023. The facility bears an interest of Secured Overnight Financing Rate ("SOFR") plus 190 basis points. All tranches under the $225.0 million term loan facility and revolving credit tranche of $50.0 million mature in May 2027, with a balloon payment of $170.0 million. Repayments are made on a quarterly basis from third quarter of 2022 onward. During 2022, $11.1 million was repaid and there was no available undrawn amount. $175.0 million term loan facility In August 2021, we entered into the $175.0 million loan facility refinancing six Newcastlemax vessels acquired from Hemen, previously financed under the $413.6 million loan agreement with Sterna Finance Ltd., a related party (the "Sterna Facility"). The $175 million loan facility has a five-year tenor and 19-year age adjusted repayment profile. The facility bears interest of LIBOR plus a margin of 190 basis points. It also includes a $50 million non-amortizing revolving credit tranche. All tranches under the term loan facility mature in August 2026, with a balloon payment of $77.1 million. Repayments of term loan are made on a quarterly basis from fourth quarter of 2021 onward. During 2022, $10.1 million (2021: $2.5 million) was repaid in regular repayments. In 2021, we repaid the full $50 million revolving credit tranche, consequently leaving an available undrawn amount of $50 million. $260.0 million lease financing In August 2021, we signed a sale-and-leaseback agreement for an amount of $260.0 million, refinancing the remaining nine vessels and three newbuildings financed by the Sterna Facility. The lease financing has a seven-year tenor, carries an interest rate of LIBOR plus a margin of 200 basis points, has a straight line amortization profile of 21 years and has purchase options throughout the term, with a purchase obligation at maturity. Repayments are made on a quarterly basis from fourth quarter of 2021 onward. During 2022, $12.4 million (2021: $3.1 million) was repaid and there was no available undrawn amount. $304.0 million term loan facility In November 2020, we entered into the $304.0 million term loan and revolving credit facility to refinance our obligations under $425.0 million credit facility that was scheduled to mature in March 2021. This loan facility has been entered into with six reputable shipping banks, five of which were part of the group of banks that financed the $425.0 million credit facility and is secured by 14 Capesize vessels. The term loan facility of $254.0 million has a tenor of five years and a 20-year age adjusted repayment profile, carrying an interest cost of LIBOR plus a margin of 235 basis points. All tranches under the term loan facility mature in November 2025, with a balloon payment of $165.2 million. Repayments of term loan are made on a quarterly basis from first quarter of 2021 onward. The facility includes a non-amortizing revolving credit tranche of $50.0 million with maturity date in November 2025. During 2022, $18.7 million (2021: $18.7 million) was repaid in regular repayments. In 2021, we repaid the full $50.0 million revolving credit tranche, consequently leaving an available undrawn amount of $50.0 million. $93.75 million loan facility This facility has a five-year tenor and a 19-year age adjusted amortization profile. The facility bears interest of LIBOR plus a margin of 215 basis points. Repayments are made on a quarterly basis from third quarter of 2019 onward. All tranches under the facility mature in second quarter of 2024, with a balloon payment of in total $62.5 million. During 2022, $6.6 million (2021: $6.6 million) was repaid and there was no available undrawn amount. The facility was refinanced in 2023 with the new $250.0 million credit facilit y (ple ase see Note 30, "Subsequent Events" for more information about the new facility). $131.79 million loan facility This facility has a five-year tenor and a 19-year age adjusted amortization profile. The facility bears interest of LIBOR plus a margin of 210 basis points. Repayments are made on a quarterly basis from third quarter of 2019 onward. All tranches under the facility mature in second quarter of 2024, with a balloon payment of in total $76.6 million. During 2022, $9.8 million (2021: $15.4 million) was repaid and there was no available undrawn amount. The facility was refinanced in 2023 with the new $250.0 million credit facility (ple ase see Note 30, "Subsequent Events" for more information about the new facility). $155.3 million loan facility In November 2019, we refinanced our $284.0 million loan facility that financed 15 vessels and was scheduled to mature in December 2019. A $155.3 million term loan facility was entered into with six reputable shipping banks, five of which were part of the group of banks that financed the $284.0 million facility. In connection with this refinancing, we prepaid the outstanding debt under the $284.0 million facility of $155.4 million. This facility bears interest of LIBOR plus a margin of 210 basis points. Repayments are made on a quarterly basis from first quarter of 2020 onward. All tranches under the facility mature in fourth quarter of 2024, with a balloon payment of in total $56.5 million. During 2022, $50.7 million (2021: $20.8 million) was repaid, which included repayment of debt in connection to the sale of Golden Endeavour , Golden Empress , Golden Enterprise , Golden Cecilie and Golden Cathrine , amounting to $41.1 million. There was no available undrawn amount. The facility was refinanced in 2023 with the new $250.0 million credit facility (ple ase see Note 30, "Subsequent Events" for more information about the new facility). $120.0 million term loan facility In May 2018, we entered into a $120.0 million term loan facility to refinance 10 vessels and repay $58.3 million due under the $34.0 million term loan facility and the $82.5 million term loan facilities with maturity in 2018 and prepay the full outstanding amounts under our related party seller credit loans of $65.5 million. This facility bears interest of LIBOR plus a margin of 225 basis points. Repayments are made on a quarterly basis from third quarter of 2018 onward. All tranches under the facility mature in April 2025, with a balloon payment of in total $52.4 million. During 2022, $17.5 million (2021: $18.6 million) was repaid, which included repayment of debt in connection to the sale of Golden Ice and Golden Strength , amounting to $11.4 million. There was no available undrawn amount. $420.0 million term loan facility In June 2014, we entered into a term loan facility of up to $420.0 million, dependent on the market values of the vessels at the time of draw down, consisting of 14 tranches of up to $30.0 million to finance, in part, 14 newbuilding vessels. Each tranche is repayable by quarterly installments based on a 20-years profile from the delivery date of each vessel and all amounts outstanding shall be repaid on June 30, 2020. The facility has an interest rate of LIBOR plus a margin of 250 basis points. In January 2016, following an accelerated repayment to comply with the minimum value covenant as of December 31, 2015, the quarterly repayment schedule was amended to $5.2 million, in total, for all 14 tranches. In February 2019, we extended our $420 million term loan facility for 14 vessels by three years from June 2020 to June 2023 at LIBOR plus a margin of 250 basis points and upsized the facility to partially finance the installation of scrubbers on up to 11 vessels. Each scrubber installation was financed with up to $3 million in a separate tranche to be repaid over three years, commencing January 1, 2020. In May 2022, we fully repaid the outstanding amounts under the $420.0 million term loan facility and drew down on the new $275.0 million term loan and revolving credit facility described above. In total, during 2022, $280.4 million was repaid (2021: $29.6 million). $425.0 million senior secured post-delivery term loan facility In February 2015, we entered into a senior secured post-delivery term loan facility of up to $425.0 million, depending on the market values of the vessels at the time of draw down, to partially finance 14 newbuilding vessels. The loan bore interest at LIBOR plus a margin of 220 basis points. In November 2020, we fully repaid the outstanding amounts under the $425.0 million credit facility and drew down on the $304.0 million term loan and revolving credit facility. In total, during 2020, $322.5 million was repaid. Financial covenants Our loan agreements contain loan-to-value clauses, which could require us to post additional collateral or prepay a portion of the outstanding borrowings should the value of the vessels securing borrowings under each of such agreements decrease below required levels. In addition, the loan agreements contain certain financial covenants, including the requirement to maintain a certain level of free cash, positive working capital as defined in the loan agreement and a value adjusted equity covenant. Under most of our debt facilities the aggregate value of the collateral vessels shall not fall below 135% of the loan outstanding, depending on the facility (for $175 million and $275 million loan facilities, the value should not fall below 130%. For $260 million lease financing, the value should not fall below 115%). We need to maintain free cash of at least $20 million or 5% of total interest bearing debt, maintain positive working capital and maintain a value adjusted equity of at least 25% of value adjusted total assets. With regards to free cash, we have covenanted to retain at least $61.3 million of cash and cash equivalents as of December 31, 2022 (December 31, 2021: $69.5 million) and in accordance with our accounting policy this is classified under cash and cash equivalents. In addition, none of our vessel owning subsidiaries may sell, transfer or otherwise dispose of their interests in the vessels they own without the prior written consent of the applicable lenders unless, in the case of a vessel sale, the outstanding borrowings under the credit facility applicable to that vessel are repaid in full. Failure to comply with any of the covenants in the loan agreements could result in a default, which would permit the lender to accelerate the maturity of the debt and to foreclose upon any collateral securing the debt. Under those circumstances, we might not have sufficient funds or other resources to satisfy our obligations. As of December 31, 2022 and December 31, 2021, we were in compliance with our covenants. Deferred charges Debt issuance costs of $10.7 million as of December 31, 2022 (2021: $11.4 million) are presented as a deduction from the carrying value of our debt. The outstanding debt as of December 31, 2022 is repayable as follows: (in thousands of $) 2023 92,865 2024 274,101 2025 277,443 2026 116,610 2027 187,870 Thereafter 182,617 Total U.S. dollar denominated floating rate debt 1,131,506 Deferred charges (10,650) Total debt 1,120,856 Assets pledged As of December 31, 2022, 74 vessels (2021: 81 vessels) with an aggregate carrying value of $2,665.8 million (2021: $2,880.3 million) were pledged as security for our floating rate debt. Weighted average interest

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES (in thousands of $) 2022 2021 Voyage expenses 18,197 11,204 Ship operating expenses 16,106 17,968 Administrative expenses 3,682 4,570 Tax expenses 381 394 Interest expenses 5,022 4,433 Total accrued expenses 43,388 38,569

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	OTHER CURRENT LIABILITIES (in thousands of $) 2022 2021 Deferred charter revenue 29,153 34,626 Payroll and employee tax 653 654 Bunker obligations on time charter out contracts 3,652 1,523 Other current liabilities 36 462 Total other current liabilities 33,494 37,265

DERIVATIVE INSTRUMENTS PAYABLE

DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE	DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE Our derivative instruments are not designated as hedging instruments and are summarized as follows: (in thousands of $) 2022 2021 Interest rate swaps 32,858 2,608 Foreign currency swaps — 71 Bunker derivatives 265 — Forward freight agreements — — Asset Derivatives - Fair Value 33,123 2,679 (in thousands of $) 2022 2021 Interest rate swaps — 10,364 Foreign currency swaps 10 — Bunker derivatives 1,303 — Forward freight agreements — — Liability Derivatives - Fair Value 1,313 10,364 During 2022, 2021 and 2020, the following were recognized and presented under “Gain (loss) on derivatives” in the consolidated statement of comprehensive income: (in thousands of $) 2022 2021 2020 Interest rate swaps Interest income (expense) (466) (8,349) (5,030) Unrealized fair value gain (loss) 40,614 19,802 (19,868) Foreign currency swaps Realized gain (loss) (194) 60 71 Unrealized fair value gain (loss) 113 (257) 519 Forward freight agreements Realized gain (loss) (579) 18,969 10,207 Options — — (1,313) Bunker derivatives Realized gain (loss) 1,518 410 (2,193) Unrealized fair value gain (loss) (1,038) (170) 157 39,968 30,465 (17,450)

SHARE CAPITAL, TREASURY SHARES

SHARE CAPITAL, TREASURY SHARES AND DIVIDENDS	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
SHARE CAPITAL, TREASURY SHARES AND DIVIDENDS	SHARE CAPITAL, TREASURY SHARES AND DIVIDENDS Authorized share capital: (in thousands of $ except per share amount) 2022 2021 2020 300 million common shares in 2022 and 2021 and 200 million common shares in 2020 with $0.05 par value 15,000 15,000 10,000 In March 2021, at our annual general meeting ("AGM"), the shareholders approved to increase our authorized share capital from $10,000,000 divided into 200,000,000 common shares of $0.05 par value to $15,000,000 divided into 300,000,000 common shares of $0.05 par value. In May 2021, at our AGM, our shareholders approved a reduction of the Additional Paid in Capital account,. As a result, $350.7 million in additional paid in capital was reclassified to contributed surplus in 2021. Issued and outstanding number of shares: (number of shares of $0.05 each) 2022 2021 2020 Issued shares: Balance at start of year 201,190,621 144,272,697 144,272,697 - Shares issued — 56,917,924 — - Issue of consideration shares to Hemen — — — - Settlement of options — — — Issued shares: Balance at the end of year 201,190,621 201,190,621 144,272,697 Outstanding number of shares: Balance at start of year 200,435,621 143,327,697 143,277,697 - Shares issued — 56,917,924 — - Repurchases of shares (400,000) — — - Distribution of treasury shares 450,000 190,000 50,000 Outstanding number of shares: Balance at end of year 200,485,621 200,435,621 143,327,697 In 2022, we acquired an aggregate of 400,000 of our own shares, in open market transactions under our 2022 share buy-back program. The shares were acquired on the OSE and on NASDAQ at an aggregate purchase price of $3.3 million. The Company did not acquire any of its own shares in 2021 and 2020. As of December 31, 2022 the Company held 705,000 treasury shares out of which 400,000 were repurchased under the 2022 share buy-back program and 305,000 were repurchased under the 2019 share buy-back program (December 31, 2021: 755,000 treasury shares, December 31, 2020: 945,000 treasury shares). In 2022, 450,000 share options held by the management were exercised. We settled the options by distributing the same amount of treasury shares acquired as part of 2019 share buy-back program, and recorded a loss of $1.7 million in the equity statement. In the year ended December 31, 2021, we issued 190,000 shares in connection with our 2016 share option plan (the "2016 Plan"). We settled the applicable options using the equal amount of treasury shares and recorded a loss of $0.4 million in the equity statement. In February 2021, we completed a private placement, which raised gross proceeds of NOK 2,873 million, or approximately $338 million through the placing of 54,207,547 new shares at a subscription price of NOK 53.00 per offer share. Net proceeds from the private placement after deduction of legal and other placement related costs amounted to $335.3 million. Hemen subscribed for 27,103,773 new shares, equivalent to approximately $169 million. In May 2021, we completed a subsequent offering following the private placement and issued 2,710,377 new shares at NOK 53.00 per share, raising gross proceeds of NOK 143.6 million (or approximately $16.9 million). Net proceeds from the subsequent offering after deduction of legal and other placement related costs amounted to $16.9 million. All shares were acquired by third parties. In 2022, 2021 and 2020, we paid $471.7 million, $320.7 million and $7.2 million in dividends to our shareholders, respectively, corresponding to a dividend per share of $2.35, $1.60 and $0.05. Refer to Note 30, "Subsequent Events", for any subsequent dividend declarations. As of December 31, 2022, 200,485,621 common shares were outstanding (December 31, 2021: 200,435,621 common shares, December 31, 2020: 143,327,697 common shares), which includes an adjustment for treasury shares in 2022, 2021 and 2020 of 705,000, 755,000 and 945,000, respectively.

SHARE OPTIONS

SHARE OPTIONS	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE OPTIONS	SHARE OPTIONS 2016 Share Option Plan: In November 2016, the Board approved the adoption of the 2016 Plan. The 2016 Plan permits share options to be granted to directors, officers and employees (the "Option holders"), of the Company and its subsidiaries. The plan has a 10-year term effective November 2016, unless otherwise determined by the Board. The share options entitle the Option holders to subscribe for common shares at a price per share equal to the exercise price as determined by the Board on the date the share options are granted. The share options have no voting or other shareholder rights. On April 24, 2020, 550,000 share options were granted to the Chief Executive Officer of Golden Ocean Management AS in accordance with the terms of the 2016 Plan. The share options will have a five-year term and vest equall y over three years with a subscription price per share as specified below. The total fair value for share option award is estimated to be $0.8 million. On September 14, 2020, 275,000 share options were granted to the Chief Financial Officer of Golden Ocean Management AS in accordance with the terms of the 2016 Plan. The share options will have a five-year term and vest equally over three years with a subscri ption price per share as specified below. The total fair value for share option award is estimated to be $0.4 million. On November 11, 2020, 275,000 share options were granted to the Chief Commercial Officer of Golden Ocean Management AS in accordan ce with the terms of the 2016 Plan. The share options will have a five-year term and vest equally over three years with a subscription price per share as specified below. The total fair value for share option award is estimated to be $0.4 million. 2020 Grant CEO 2020 Grant CFO 2020 Grant CCO Grant date April 24, 2020 September 14, 2020 November 11, 2020 Tranche 1 150,000 of the options are exercisable on April 6, 2021 at the earliest, at a subscription price of NOK 35 per share 75,000 of the options are exercisable on September 4, 2021 at the earliest, at a Subscription Price of NOK 32 per share 75,000 of the options are exercisable on December 1, 2021 at the earliest, at a Subscription Price of NOK 33 per share Tranche 2 150,000 of the options are exercisable on April 6, 2022 at the earliest, at a Subscription Price of NOK 52.50 per share 75,000 of the options are exercisable on September 4, 2022 at the earliest, at a Subscription Price of NOK 48 per share 75,000 of the options are exercisable on December 1, 2022 at the earliest, at a Subscription Price of NOK 49.50 per share Tranche 3 250,000 of the options are exercisable on April 6, 2023 at the earliest, at a Subscription Price of NOK 70.00 per share 125,000 of the options are exercisable on September 4, 2023 at the earliest, at a Subscription Price of NOK 64 per share 125,000 of the options are exercisable on December 1, 2023 at the earliest, at a Subscription Price of NOK 66 per share On November 10, 2016, the Board approved the issue of 700,000 share options to senior management in accordance with the terms of the 2016 Plan at an exercise price of $4.20, adjusted for any distribution of dividends made before the relevant options are exercised. The share options have a five years term and vest over a three years period equally at a rate of 1/3 of the number of share options granted on each annual anniversary of the date of grant, subject to the option holder continuing to provide services to the Company from the grant date through the applicable vesting date. As of December 31, 2022, there were no options vested and outstanding for this grant. Summary of assumptions for share options given in accordance with the terms of the Company's share option scheme from 2016: 2016 Grant 2020 Grant CEO 2020 Grant CFO 2020 Grant CCO Grant Date November 10, 2016 April 24, 2020 September 14, 2020 November 11, 2020 Expected Term (1) 5 years 5 years 5 years 5 years Expected Volatility (2) 71% 61% 62% 61% Expected Dividends (3) Nil Nil Nil Nil Dilution Adjustment (4) No No No No Risk-free Rate (5) 1.55 % 0.27 % 0.27 % 0.4 % Expected Forfeitures (6) Nil Nil Nil Nil The fair value of all share options listed above was calculated based on the Black-Scholes method. The significant assumptions used to estimate the fair value of the share options are set out below: • Expected Term (1) Given that the exercise price is adjustable for any distribution of dividends made before the relevant options are exercised and that most of the grants is given to top management, we expect that it is reasonable for holders of the granted options to avoid early exercise of the options. As a result, we assumed that the expected term of the options is their contractual term. • Expected Volatility (2) We used the historical volatility of the common shares to estimate the volatility of the prices of the shares underlying the share options. • Expected dividends (3) For all share options granted the share options exercise price is adjustable for distribution of dividend before the share options are exercised. Therefore, dividend protection features are incorporated to option pricing model by using a zero-dividend yield assumption. • Dilution Adjustment (4) The number of share options is considered immaterial as compared to the number of shares outstanding and no dilution adjustment was incorporated in the valuation model. • Risk-free Rate (5) We used the five-year US Government bond risk-free yield-to-maturity rate of as of respective grant date as an estimate for the risk-free rate to match the expected contractual term of the share options. • Expected Forfeitures (6) We expect that there will be no or very limited forfeitures of non-vested shares options during the terms. This is in line with our historical experience. The following table summarizes the option activity for the year ended December 31, 2022 and 2021: Number of options Weighted Average Exercise Price* Weighted Average Grant date Fair Value Management Total Total Outstanding as of December 31, 2020 1,200,000 1,290,000 $5.17 $1.63 Granted during 2021 — — — — Exercised during 2021 100,000 190,000 $3.35 $2.47 Forfeited during 2021 — — — — Exercisable as of December 31, 2021 300,000 300,000 $3.80 $2.06 Outstanding as of December 31, 2021 - Unvested 800,000 800,000 $6.88 $1.65 Total Outstanding as of December 31, 2021 1,100,000 1,100,000 $6.04 $1.76 Granted during 2022 — — — — Exercised during 2022 450,000 450,000 $3.97 $1.77 Forfeited during 2022 — — — — Exercisable as of December 31, 2022 150,000 150,000 $4.84 $1.39 Outstanding as of December 31, 2022 - Unvested 500,000 500,000 $6.70 $1.25 Total Outstanding as of December 31, 2022 650,000 650,000 $6.27 $1.28 • not adjusted for dividends As of December 31, 2022 and 2021, outstanding vested options amounted to 150,000 and 300,000, respectively. The following table summarizes certain information about the options outstanding as of December 31, 2022 and 2021: Options Outstanding and Unvested, Options Outstanding and Exercisable, Weighted Average Exercise Price of Outstanding Options Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life $6.70 500,000 $6.70 2.55 150,000 $4.84 2.79 Options Outstanding and Unvested, Options Outstanding and Exercisable, Weighted Average Exercise Price of Outstanding Options Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life $6.88 800,000 $6.88 3.55 300,000 $3.80 3.55 For the year ended December 31, 2022 and 2021 the share based compensation was $0.6 million and $0.6 million, respectively, and are included in "Administrative expenses" in the consolidated statement of operations. In 2022 and 2021, we settled the exercise of 450,000 and 190,000 share options, respectively, by distributing the same amount of treasury shares. As of December 31, 2022 and 2021, the estimated cost relating to non-vested share options not yet recognized was $0.3 million and $0.9 million respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS We transact business with the following related parties, consisting of companies in which Hemen and companies associated with Hemen have a significant interest: Frontline plc and its subsidiaries (referred to as "Frontline"), SFL, Seatankers Management Co. Ltd and companies affiliated with it (referred to as "Seatankers") and Front Ocean Management AS. We may also transact business with our associated companies. SFL In April 2015, we agreed to a sale and leaseback transaction with SFL for eight Capesize vessels. These vessels were sold en-bloc for an aggregate price of $272.0 million. The vessels were delivered to SFL in the third quarter of 2015 and were time chartered-in by on e of our subsidiaries for a period of ten years. We have a purchase option of $112 million en-bloc after ten years and, if such option is not exercised, SFL will have the option to extend the charters by three years at $14,900 per day. Refer to Note 10, "Operating Leases", and Note 18, "Finance Leases", for addit ional information related to these contracts. The management agreement with SFL was terminated in July 2021 and we are no longer the commercial manager for SFL vessels as of December 31, 2022. In the first six months of 2021, we were the commercial manager for eight (full 2020: 9) dry bulk and 16 (full 2020: 16) container vessels owned and operated by SFL. Pursuant to the management agreements in 2021, we received $125 per day per vessel for managing four of the eight dry bulk vessels, $75 per day per vessel for managing three of the eight dry bulk vessels and $37.5 per day per vessel for managing the remaining one dry bulk vessels (2020: $125 per day for four, $75 per day for three and $37.5 per day for the remaining two) and $75 per day per vessel for managing the 16 container vessels (2020: $75 per day per vessel for managing the 16 container vessels, 2019: $75 per day per vessel for managing the 14 container vessels). Seatankers We are the commercial manager of 10 (2021: 12) dry bulk vessel owned and operated by Seatankers. Pursuant to the management agreements, we receive $125 (2021: $125, 2020: $125) per day per vessel for managing the dry bulk vessels. From time to time we may also charter in dry bulk vessel owned by Seatankers on short-term time ch arters. Capesize Chartering With reference to Note 2, "Summary of Significant Accounting Policies", s everal of our Capesize vessels operated under a pool arrangement for Capesize vessels with CCL in 2021 and 2020. In August 2021 we announced termination of our relationship with CCL and all vessels exited the CCL pool in 2021. During 2021, 34 of our Capesize and Newcastlemax vessels that traded in the CCL pool contributed with an average of 256 days per vessel. United Freight Carriers With reference to Note 20, "Equity Method Investments", we also have an equity investment of 50% of the shares in UFC, a dry cargo vessel operator and logistics service provider that primarily focuses its activity around smaller bulk carriers with deadweight of up to 50,000 tonnes. SwissMarine With reference to Note 20, "Equity Method Investments", in 2019 we made an equity investment in SwissMarine, a dry bulk freight operator of which we have determined to have significant influence. In 2019, we provided SwissMarine with a $10.7 million subordinated shareholder loan, non-amortizing, with a five-year term. The loan bears interests equivalent to the 12-month LIBOR plus a margin of 2%. In May 2020, the subordinated shareholder loan was partially repaid by SwissMarine. Total repayment amounted to $5.7 million, which included principal loan amount of $5.35 million and interest of $0.3 million. Remaining subordinated shareholder loan of $5.35 million was fully repaid by SwissMarine in the first quarter of 2022 and there is no outstanding balance as of December 31, 2022. Total repayment amounted to $5.6 million, which included principal amount of $5.35 million and interest of $0.2 million. In addition, we have entered into several time charter agreements with SwissMarine and total time charter revenues from SwissMarine amounted to $2.0 million in the year ended December 31, 2022 (December 31, 2021: $13.3 million). TFG Marine With referen ce to Note 20, "Equity Method Investments", in 2020 we made an equity investment in TFG Marine, in which we have determined to have significant influence. We provided a shareholder loan of $1.0 million to TFG Marine. In 2020, the shareholder loan in the total amount of $75,000 was converted to equity of TFG Marine, reducing the balance of the loan to $0.9 million. The loan has a five-year term and bears interest of LIBOR plus a margin of 7%. We also entered into a bunker supply arrangement with TFG Marine, under which we have paid $202.0 million to TF G Marine in relation to bunker procurement in 2022 (2021: $174.3 million) and $9.2 million remains due as of December 31, 2022 (December 31, 2021: $6.6 million ). Upon purchase, bunkers were recorded as assets on the Consolidated Balance Sheet and, once consumed during voyage charter, were expensed using first-in, first-out basis. Practically it is not possible to accurately split out P&L related party voyage expense, and a such we have not summarized voyage expenses charged by related party in the table below. In 2020, we issued a $20.0 million guarantee in respect of the performance of our subsidiaries under a bunker supply arrangement with the joint venture. In May 2022, we increased this guarantee under a bunker supply agreement with TFG Marine from $20.0 million to $30.0 million. As of December 31, 2022, there are no exposures under this guarantee and liability recorded relating to the exposure. In addition, should TFG Marine be required to provide a parent company guarantee to its bunker suppliers or finance providers then for any guarantee that is provided by Trafigura and becomes payable, we shall pay an amount equal to our equity proportion of that amount payable. The maximum liability under this guarantee is $4.0 million. There are no amounts payable under this guarantee as of December 31, 2022. Management Agreements Technical Supervision Services We receive technical supervision services from Frontline Management (Bermuda) Limited ("Frontline Management"). Pursuant to the terms of the agreement, Frontline Management receives an annual management fee of $26,714 per vessel (2021: $27,375 per vessel). This fee is subject to annual review. Frontline Management is also our newbuilding supervisor and charges us for costs incurred in relation to the supervision. Ship Management The Ship management of our vessels is provided by external ship managers. Seateam Management Pte. Ltd. ("Seateam"), which provides ship management services to us, was a related party up to October 2020 when we sold our 22.19% ownership interest. Other Management Services We aim to operate efficiently through utilizing Frontline or other companies with the same main shareholder and these costs are allocated based on a cost plus mark-up model. We receive services in relation to sales and purchase activities, bunker procurement and administrative services in relation to the corporate headquarter. We may also provide certain financial management services to companies with the same main shareholder. Acquisition of vessels from affiliates of Hemen In connection with the Vessel Acquisitions in February 2021, we drew down an aggregate of $413.6 million in debt under loan agreement with Sterna Finance Ltd. The loan had an 18-month tenor, bears an interest rate of LIBOR plus a margin of 2.35% in the first year, LIBOR plus a margin of 4.7% from 13th to 18th month and shall be repaid in accordance with a 17-year linear repayment profile. $63.0 million was drawn in cash for the three acquired newbuildings, and was used for payment of a final installments to the shipyards. $350.6 million related to 15 acquired vessels was drawn non-cash. The loan was fully refinanced in 2021. A summary of net amounts charged by related parties in 2022, 2021 and 2020 is as follows: (in thousands of $) 2022 2021 2020 Frontline 3,902 4,171 3,216 SFL 30,914 42,911 38,459 Seateam — — 2,552 Seatankers 8,756 27,978 31,955 CCL 395 2,028 23 Front Ocean Management AS 1,781 — — 45,748 77,088 76,205 Net amounts charged by related parties comprise general management and commercial management fees, charter hire, settlement with CCL, interest costs and technical supervision fees. A summary of net amounts charged to related parties in 2022, 2021 and 2020 is as follows: (in thousands of $) 2022 2021 2020 Frontline — 52 — SFL 96 468 957 Seatankers 486 817 954 Northern Drilling — 38 50 SwissMarine 2,033 13,281 19,528 CCL — — 2,965 2,615 14,656 24,454 Net amounts charged to related parties mainly comprise commercial management and general management fees and settlement with CCL. A summary of related parties income (expense) amounts included into Consolidated Statements of Operations is as follows: (in thousands of $) 2022 2021 2020 Time charter revenues 2,033 13,281 19,528 Other revenues 582 1,375 1,961 Other operating income (expenses) (413) (2,008) 2,965 Ship operating expenses 1 (4,916) (9,313) (11,574) Charter hire expenses 2 (37,328) (60,885) (63,468) Administrative expenses (2,636) (1,487) (1,163) Interest on credit facilities — (3,395) — (42,678) (62,432) (51,751) (1) Excluding newbuilding supervision fee of $0.5 million, which was capitalized as part of newbuildings (2) Including charter hire expenses for SFL leases which is subsequently credited to Depreciation and Interest expense A summary of balances due from related parties as of December 31, 2022 and 2021 is as follows: (in thousands of $) 2022 2021 Frontline 1,506 2,604 UFC 497 — SwissMarine — 281 Seatankers 352 5,751 Credit loss allowance (21) (21) 2,334 8,615 A summary of short-term balances owed to related parties as of December 31, 2022 and 2021 is as follows: (in thousands of $) 2022 2021 CCL 40 2,378 TFG Marine 9,219 6,563 Other 233 4,993 9,492 13,934 As of December 31, 2022 and December 31, 2021, receivables and payables with related parties mainly comprise unpaid fees for services rendered from and to related parties. In addition to the balances stated above, we have recorded operating lease liabilities and finance lease liabilities related to the eight vessels ch artered from SFL. R efer to Note 10, "Operating Leases", and Note 18, "Finance Leases", for additional information.

FINANCIAL ASSETS AND LIABILITIE

FINANCIAL ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL ASSETS AND LIABILITIES	FINANCIAL ASSETS AND LIABILITIES Interest rate risk management Our interest rate swaps are intended to reduce the risk associated with fluctuations in interest rates payments. As of December 31, 2022, we have interest rate swaps whereby the floating rate (3-months LIBOR) on a notional principal amount of $500 million (December 31, 2021 : $500 million) are swapped to fixed rate. Credit risk exists to the extent that the counterparties are unable to perform under the swap contracts but this risk is considered remote as the counterparties are well established banks, which may also participate in loan facilities to which the interest rate swaps are related. Our interest rate swap contracts as of December 31, 2022 of which none are designated as hedging instruments are summarized as follows: (in thousands of $) Notional Amount Inception Date Maturity Date Fixed Interest Rate Receiving floating, pay fixed 50,000 August 2017 August 2025 2.41 % Receiving floating, pay fixed 50,000 August 2017 August 2025 2.58 % Receiving floating, pay fixed 50,000 August 2019 August 2024 1.39 % Receiving floating, pay fixed 50,000 September 2019 September 2024 1.29 % Receiving floating, pay fixed 100,000 October 2019 October 2025 2.51 % Receiving floating, pay fixed 50,000 March 2020 March 2027 0.94 % Receiving floating, pay fixed 50,000 March 2020 March 2027 0.74 % Receiving floating, pay fixed 50,000 April 2022* December 2027 2.17 % Receiving floating, pay fixed 50,000 July 2022* September 2030 1.77 % 500,000 *SOFR-based forward-looking swaps: first payment date for the interest rate swaps is September 2024. Forward freight agreements We take positions from time to time in the freight forward market, either as a hedge to a physical contract or as a speculative position. All such contracts are fully settled in cash through what we consider reputable clearing houses on a daily basis, as such there are no balances relating to FFAs on the Consolidated Balance Sheets. Credit risk exists to the extent that our counterparties are unable to perform under the FFA contracts but this risk is considered remote as well as participants post collateral security for their positions. As of December 31, 2022, we had long positions through FFA of net 735 days with maturity in 2023. Bunker derivatives We enter into cargo contracts from time to time. We are therefore exposed to fluctuations in bunker prices, as the cargo contract price is based on an assumed bunker price for the trade. To hedge the risk of fluctuating bunker prices, we sometimes enter into bunker swap agreements. There is no guarantee that the hedge removes all the risk from the bunker exposure, due to possible differences in location and timing of the bunkering between the physical and financial position. The counterparties to such contracts are major banking and financial institutions. Credit risk exists to the extent that the counterparties are unable to perform under the bunker contracts but this risk is considered remote as the counterparties are usually what we consider well established banks or other well-known institutions in the market. As of December 31, 2022, we had outstanding bunker swap agreements for about 26.8 thousand metric tonnes. As of December 31, 2021, we had no outstanding bunker swap agreements. Foreign currency risk The majority of our transactions, assets and liabilities are denominated in United States dollars, our functional currency. However, we incur expenditure in currencies other than the functional currency, mainly in Norwegian Kroner and Singapore Dollars for personnel costs and administrative expenses, and Euro for some of our scrubber equipment investments. There is a risk that currency fluctuations in transactions incurred in currencies other than the functional currency will have a negative effect of the value of our cash flows. Due to the exposure of currency fluctuations we may enter into foreign currency swaps to mitigate such risk exposures. The counterparties to such contracts are what we consider major banking and financial institutions. Credit risk exists to the extent that the counterparties are unable to perform under the contracts but this risk is considered remote as the counterparties are what we consider well established banks. As of December 31, 2022, we had contracts to swap USD to NOK for a notional amount of $0.2 million. As of December 31, 2021, we had contracts to swap USD to NOK for a notional amount of $2.4 million. Fair values The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The same guidance requires that assets and liabilities carried at fair value should be classified and disclosed in one of the following three categories based on the inputs used to determine its fair value: Level 1: Quoted market prices in active markets for identical assets or liabilities; Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data; Level 3: Unobservable inputs that are not corroborated by market data. In addition, ASC 815, “ Derivatives and Hedging ” requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the statement of financial position. The carrying value and estimated fair value of our financial instruments as of December 31, 2022 and December 31, 2021 are as follows: 2022 2022 2021 2021 (in thousands of $) Level Fair Carrying Value Fair Carrying Assets Cash and cash equivalents 1 134,784 134,784 197,032 197,032 Restricted cash 1 3,289 3,289 12,985 12,985 Marketable securities 1 2,187 2,187 1,684 1,684 Related party shareholder loans 2 837 837 6,187 6,187 Derivative assets 2 33,123 33,123 2,679 2,679 Liabilities Long-term debt - floating 2 1,131,506 1,131,506 1,273,723 1,273,723 Derivative liabilities 2 1,313 1,313 10,364 10,364 There have been no transfers between different levels in the fair value hierarchy in 2022 and 2021. The following methods and assumptions were used to estimate the fair value of each class of financial instrument: • The carrying value of cash and cash equivalents, which are highly liquid, approximate fair value. • Restricted cash and investments – the balances relate entirely to restricted cash and the carrying values in the balance sheet approximate their fair value. • Floating rate debt - the carrying value in the balance sheet approximates the fair value since it bears a variable interest rate, which is reset on a quarterly basis. • Shareholder loans - the carrying value in the balance sheet approximates the fair value since it bears a variable interest rate, which is reset on an annual basis. • Marketable securities - are listed equity securities for which the fair value is based on quoted market prices. • Derivatives - are based on the present value of the estimated future cash flows that we would receive or pay to terminate the agreements at the balance sheet date. Assets Measured at Fair Value on a Nonrecurring Basis During the year ended December 31, 2022, the value of Golden Ice , Golden Cecilie , Golden Cathrine , Golden Empress , Golden Enterprise and Golden Endeavour , two Ultramax vessels and four Panamax vessels sold to unrelated third parties in 2022, were measured at fair value. The fair values were based on level three inputs and the expected market values based on sales agreements. In June 2021, we closed the Vessel Acquisitions with Hemen and recorded the cost of vessels and newbuildings acquired based on the fair value of the total consideration paid. During the year ended December 31, 2021, fair value of unfavorable time charter contracts acquired as part of the Vessel Acquisitions, was measured at fair value. The fair value was based on level three inputs and calculated as the net present value of the difference in cash flows arising over the period of the contracts between the expected cash flows from the contracts and expected cash flows from comparable contracts at the acquisition date. During the year ended December 31, 2021, the values of Golden Saguenay , Golden Opportunity and Golden Endurer , all Panamax vessels sold in 2021 to unrelated parties, were measured at fair value. The fair values were based on level three inputs and the expected market values based on sales agreements. During the year ended December 31, 2020, our right of use assets were impaired and accordingly measured at fair value on a nonrecurring basis. The fair value was based on level three inputs. As at March 31, 2020, at the time when impairment tests were performed, operating lease right of use assets were measured at a combined fair value of $119.3 million and finance lease right of use assets were measured at a combined fair value of $25.0 million. The fair value of right of use assets is derived on an asset by asset basis by estimating the future undiscounted cash flows from the right of use assets earned over the remaining lease term of our operating and finance leases. In calculating discounted cash flows, we must make significant assumptions related to future charter rates, additional earnings due to scrubber installations, ship operating expenses, utilization and drydocking requirements. All of these assumptions are significant unobservable inputs based on historical trends as well as future expectations. Specifically, in estimating future charter rates, management takes into consideration rates currently in effect for existing time charters and estimated daily time charter equivalent rates for each vessel class for the number of days over the remaining lease term. The estimated daily time charter equivalent rates used are based on a combination of (i) forward freight market rates and (ii) an estimate of implied charter rates based on the broker values received from third party brokers. The implied rate is a calculated rate for each vessel based on the charter rate the vessel would need to achieve, given our estimated future operating costs and discount factors that once discounted would equate to the average broker values. Benefits from scrubber installations are calculated based on expected bunker fuel cost savings and estimated consumption per year. We then use the resultant undiscounted cash flows in our model. Recognizing that the transportation of dry bulk cargoes is cyclical and subject to significant volatility based on factors beyond our control, management believes the use of estimates based on the combination of internally forecasted rates and calculated average rates as of the reporting date to be reasonable. Estimated outflows for operating expenses and drydocking requirements are based on historical and budgeted costs and are adjusted for assumed inflation. Finally, utilization is based on historical levels achieved. As of March 31, 2020, at the date of impairment tests, significant unobservable inputs were as follows: Significant unobservable input Range (all vessels) Weighted average Forward freight market rates adjusted for scrubber earnings $8,554 to $15,419 per day $15,044 per day Implied charter rates adjusted for scrubber earnings $12,715 to $15,584 per day $13,857 per day Ship operating expenses per day, including drydocking costs $5,328 to $7,754 per day $6,918 per day Offhire 1 to 38 days per year 5.61 days per year The weighted average was calculated by weighting the data based on fair value of vessels. Assets Measured at Fair Value on a Recurring Basis Marketable securities are equity securities in Eneti Inc. and for which the fair value as of the balance sheet date is the aggregate market value based on quoted market prices (level 1). The fair value (level 2) of interest rate swap, currency swap, bunker and freight derivative agreements is the present value of the estimated future cash flows that we would receive or pay to terminate the agreements at the balance sheet date, taking into account, as applicable, fixed interest rates on interest rate swaps, current interest rates, forward rate curves, current and future bunker prices and the credit worthiness of both us and the derivative counterparty. Concentrations of risk There is a concentration of credit risk with respect to cash and cash equivalents to the extent that substantially all of the amounts are carried with SEB and DNB. However, we believe this risk is remote, as these financial institutions are established and reputable establishments with no prior history of default. We do not require collateral or other security to support financial instruments subject to credit risk.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We insure the legal liability risks for our shipping activities with Assuranceforeningen SKULD and Assuranceforeningen Gard Gjensidig, both mutual protection and indemnity associations. We are subject to calls payable to the associations based on our claims record in addition to the claims records of all other members of the associations. A contingent liability exists to the extent that the claims records of the members of the associations in the aggregate show significant deterioration, which result in additional calls on the members. To the best of our knowledge, there are no legal or arbitration proceedings existing or pending which have had or may have significant effects on our financial position or profitability and no such proceedings are pending or known to be contemplated. As of December 31, 2022, we have seven vessels held under finance lease and two vessels held under operating lease. Refer to Note 10, "Operating Leases", and Note 18, "Finance Leases", for additional information. We sold eight vessels to SFL in 2015 and leased them back on charters for an initial period of ten years. We have a purchase option of $112 million en-bloc after ten years and, if such option is not exercised, SFL will have the option to extend the charters by three years at $14,900 per day. As of December 31, 2022, we had ten Kamsarmax vessels under construction. Total outstanding contractual commitments of $255.6 million are due by the fourth quarter of 2024, out of which $159.0 million are due in 2023. As of December 31, 2022, the Company had committed to install scrubbers on three vessels with an estimated remaining financial commitment of $1.2 million, excluding installation costs. As of December 31, 2022, we had firm com mitments to install ballast water treatment systems with an estimated financial commitment, excluding installation costs, of $1.0 million. With reference to Note 20, "Equity Method Investments", we issued a $20 million guarantee in respect of the performance of our subsidiaries under a bunker supply arrangement with TFG Marine. In May 2022, we increased this guarantee under the bunker supply arrangement with TFG Marine from $20 million to $30 million. As of December 31, 2022, there are no exposures under this guarantee. In addition, should TFG Marine be required to provide a parent company guarantee to its bunker suppliers or finance providers then for any guarantee that is provided by Trafigura and becomes payable, we shall pay an amount equal to its equity proportion of that amount payable. The maximum liability under this guarantee is $4.0 million. There are no amounts payable under this guarantee as of December 31, 2022.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In January 2023, the Panamax vessel Golden Strength was delivered to its new owner and we expect to record a gain of approximately $2.7 million in the first quarter of 2023. In January 2023, we signed a loan agreement for a $250.0 million credit facility with a group of leading shipping banks to refinance a $93.75 million credit facility, $131.79 million credit facility and $155.3 million credit facility with total outstanding debt balance of $230.4 million as of December 31, 2022. The new financing has an interest rate of SOFR plus 185 basis points. In February 2023, TFG Marine fully repaid the outstanding loan of $0.9 million, in addition to dividends of $4.9 million related to 2022. On February 16, 2023, we announced a cash dividend of $0.20 per share in respect of the fourth quarter of 2022, which was paid on or about March 9, 2023, to shareholders of record on February 28, 2023. Shareholders holding the Company’s shares through Euronext VPS received this cash dividend later, on or about March 13, 2023. In February 2023, we signed agreements for the acquisition of six scrubber fitted Newcastlemax vessels from an unrelated third party for a total consideration of $291.0 million. The transaction is expected to be closed by June 2023. The vessels have an average age of around 2.5 years and will be chartered back to the seller for a period of approximately 36 months at an average fixed net TCE rate of $21,000 per day. In March 2023, we entered into a $233.0 million two-year credit facility to part finance the transaction. The facility has an interest of SOFR plus a margin of 190

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America. The consolidated financial statements include the assets and liabilities of us and our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires us to make estimates and assumptions that affect the amounts reported in our financial statements and accompanying notes. Such estimates and assumptions impact, among others, the following: judgements involved in identifying performance obligations in revenue contracts, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each performance obligation, impairment of assets, the amount of uncollectible accounts and accounts receivable, the amount to be paid for certain liabilities, including contingent liabilities, the amount of costs to be capitalized in connection with the construction of newbuildings and the determination of useful life of our vessels. Actual results could differ from those estimates.
Fair values	Fair values We have determined the estimated fair value amounts presented in these consolidated financial statements using available market information and appropriate methodologies. However, considerable judgment is required in interpreting market data to develop the estimates of fair value. The estimates presented in these consolidated financial statements are not necessarily indicative of the amounts that we could realize in a current market exchange. Estimating the fair value of assets and liabilities requires the use of estimates and significant judgments, among others, the following: the market assumptions used when valuing acquired time charter contracts, the expected revenues earned by vessels and the operating costs (including drydocking costs) of those vessels and the discount rate used in cash flow based valuations. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.
Reporting and functional currency and Foreign currency	Reporting and functional currency Our functional currency is the United States dollar as all revenues are received in United States dollars and a majority of our expenditures are made in United States dollars. We and our subsidiaries report in United States dollars. Foreign currency Transactions in foreign currencies during the year are translated into United States dollars at the rates of exchange in effect at the date of the transaction. Foreign currency monetary assets and liabilities are translated using rates of exchange at the balance sheet date. Foreign currency non-monetary assets and liabilities are translated using historical rates of exchange. Foreign currency transaction gains or losses are included in the consolidated statements of operations.
Revenue and expense recognition, Gains and losses on the sale of vessels, Charter hire expense and Contingent rental expense (income)	Revenue and expense recognition Revenue Recognition Our shipping revenues are primarily generated from time charters and voyage charters. In a time charter, the vessel is hired by the charterer for a specified period of time in exchange for consideration which is based on a daily hire rate. Generally, the charterer has the discretion over the ports visited, shipping routes and vessel speed. The contract/charter party generally provides typical warranties regarding the speed and performance of the vessel. The charter party generally has some owner protective restrictions such as that the vessel is sent only to safe ports by the charterer and carries only lawful or non-hazardous cargo. In a time charter contract, where we charter the ship out to a charterer, we are responsible for all the costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance and lubes. The charterer bears the voyage related costs such as bunker expenses, port charges, canal tolls during the hire period. The performance obligations in a time charter contract are satisfied over the term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to us. The charterer generally pays the charter hire in advance of the upcoming contract period. The time charter contracts are considered operating leases because (i) the vessel is an identifiable asset (ii) we do not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Time charter contracts are generally accounted for under ASC 842 leases and revenues are recorded over the term of the charter. When a time charter contract is linked to an index, we recognize revenue for the applicable period based on the actual index for that period. Variable lease payments included into our time-charter agreements, such as positioning bonuses or profit sharing for fuel savings from scrubbers, that do not depend on an index or rate are excluded from the calculation of lease payments and recognized in the period in which the variability is resolved. In a voyage charter contract, the charterer hires the vessel to transport a specific agreed-upon cargo for a single voyage. The consideration for such a contract is determined on the basis of a freight rate per metric ton of cargo carried or occasionally on a lump sum basis. The charterer is responsible for any short loading of cargo or "dead" freight. The voyage charter party generally has standard payment terms of 90 or 95% freight paid within three Certain of our voyage charter contracts contain a lease. Voyage charters contain a lease component if the contract (i) specifies a specific vessel asset; and (ii) has terms that allow the charterer to exercise substantive decision-making rights, which have an economic value to the charterer and therefore allow the charterer to direct how and for what purpose the vessel is used. Voyage charter revenues and expenses are recognized ratably over the estimated length of each voyage, which the Company has assessed commence on loading of the cargo. ASC 842 Leases provides a practical expedient for lessors in which the lessor may elect, by class of underlying asset, to not separate non-lease components from the associated lease component and, instead, to account for these components as a single component if both of the following are met: (1) the timing and pattern of transfer of the non-lease component(s) and associated lease component are the same and (2) the lease component, if accounted for separately, would be classified as an operating lease. When a lessor, we have elected this expedient for our time charter contracts and voyage charter contracts that qualify as leases and thus not separate the non-lease component, or service element, from the lease. Furthermore, ASC 842 Leases requires the Company to account for the combined component in accordance with ASC 606 revenues from contracts with customers if the non-lease components are the predominant components. Under this guidance the Company has assessed that the lease components were the predominant component for all of its time charter contracts. Furthermore, for certain of its voyage charter contracts the lease components were the predominant components. Voyage and other contracts not qualifying as leases are accounted for under the provisions of ASC 606. We have determined that our voyage charter contracts consist of a single performance obligation of transporting the cargo within a specified period. Therefore, the performance obligation is met evenly as the voyage progresses, and the revenue is recognized on a straight line basis over the voyage days from the commencement of loading to completion of discharge. The voyage charters generally have variable consideration in the form of demurrage or despatch, which is recognized as we satisfy the performance obligations under the contract. We estimate demurrage or despatch at contract inception using either the expected value or most likely amount approaches. Such estimate is reviewed and updated over the term of the voyage charter contract. In a voyage contract, we bear all voyage related costs such as fuel costs, port charges and canal tolls. To recognize costs incurred to fulfill a contract as an asset, the following criteria shall be met: (i) the costs relate directly to the contract, (ii) the costs generate or enhance resources of the entity that will be used in satisfying performance obligations in the future and (iii) the costs are expected to be recovered. The costs incurred during the period prior to commencement of loading the cargo, primarily bunkers, are deferred as they represent setup costs and recorded as a current asset and are subsequently amortized on a straight-line basis as we satisfy the performance obligations under the contract. Costs incurred to obtain a contract, such as commissions, are also deferred and expensed over the same period. Costs related to the voyage which are incurred during the period between loading and discharging the cargo, are expensed as incurred. Several of our Capesize vessels operated under a pool arrangement for Capesize vessels with Capesize Chartering Ltd. ("CCL") in 2021 and 2020. All vessels were redelivered to us in 2021. Revenues and expenses for our owned vessels generated through this pool arrangement were presented gross. We considered ourselves the principal under the charter parties with the customers for the vessels that operated under this pool arrangement, primarily because we considered ourselves to have control over the service to be transferred for the customer under the charter parties. CCL, as pool manager, calculated the total pool revenues, pool expenses and pool results based on each participant’s reported results. Based on the aggregated pool results as defined under the pool agreement and a pre-determined pool key, reflecting a vessel’s earning capacity, CCL calculated and allocated a pool result for each vessel. The difference between the calculated pool result for our owned vessels and the actual result from the charter party with the third party customer was a settlement amount with CCL in 2021 and 2020. This settlement amount allocated under the pool arrangement, is presented as other operating income (expenses), net, in our consolidated statements of operations. Our Ultramax vessels operated under a revenue sharing agreement ("RSA"), for Supramax vessels managed by C Transport Maritime S.A.M. ("CTM"), formerly known as C Transport Holding Ltd, in 2021 and 2020. All vessels were redelivered to us in 2021. Under this RSA, up to 2021 CTM performed both commercial and operational functions related to the contracts with the third party customers. CTM as manager, recorded all revenues and voyage expenses for all vessels under the arrangement which include vessels owned by third parties. The revenues and voyage expenses were pooled together, allocated and the net result were distributed to each participant under the arrangement in accordance with an agreed-upon formula. Under this RSA, CTM also operated and therefore controlled the use of our owned vessels included under the arrangement. As a result, the RSA for our vessels with CTM was considered to meet the definition of a lease. We accounted for the transactions with CTM as variable rate operating leases and recognized revenues for the applicable periods based on the net amount to be distributed by CTM. Other revenues primarily comprise revenues earned from the commercial management of related party vessels. Other revenues are recognized on an accruals basis as the services are provided and performance obligations are met. Gains and losses on the sale of vessels Gains and losses on the sale of vessels are recognized when the vessel has been delivered and all risks have been transferred and are determined by comparing the net proceeds received with the carrying value of the vessel. Charter hire expense Charter hire expense is charged to the consolidated statement of operations on a straight-line basis over the lease term. Contingent rental expense (income) Any contingent elements of rental expense (income), such as profit share or interest rate adjustments included in our leases, are recognized when the contingent conditions have materialized.
Drydocking	Drydocking Normal vessel repair and maintenance costs are expensed when incurred. We recognize the cost of a drydocking at the time the drydocking takes place, applying the "expense as incurred" method.
Impairment of vessels, newbuildings and right of use assets	Impairment of vessels, newbuildings and right of use assets The carrying values of our vessels, newbuildings and right of use assets are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. Indicators of impairment are identified based on a combination of factors which include amongst other, development of secondhand vessel values based on external appraisals of our ships, development of forward freight rates, spot rates and operating cash flow. If impairment indicators exist, we assess the recoverability of the carrying value of each asset on an individual basis. We assess recoverability of the carrying value of owned vessels and newbuildings on an individual basis by estimating the future undiscounted cash flows expected to result from the asset, including any remaining construction costs for newbuildings, and eventual disposal. Fair value for our owned vessels and newbuildings is estimated based on values achieved for the sale/purchase of similar vessels and external appraisals. In addition, owned vessels held for sale are reported at the lower of carrying amount and fair value less estimated costs to sell. Recoverability of right of use assets is assessed on an asset by asset basis by estimating the future undiscounted cash flows from the right of use assets earned over the remaining lease term of our operating and finance leases. For owned vessels, newbuildings and right of use assets, if the future net undiscounted cash flows are less than the carrying value of the asset, or the current carrying value plus future newbuilding commitments, an impairment loss is recorded equal to the difference between the asset's carrying value and estimated fair value derived from cash flow based valuations.
Interest expense	Interest expenseInterest costs are expensed as incurred except for interest costs that are capitalized. For any newbuildings that are constructed, we capitalize interest expenses during construction of newbuildings based on accumulated expenditures for the applicable project at our current rate of borrowing. The capitalization of interest expenses ceases when the newbuilding is considered substantially completed. The amount of interest expense capitalized in an accounting period shall be determined by applying an interest rate (the "capitalization rate") to the average amount of accumulated expenditures for the asset during the period. The capitalization rates used in an accounting period are based on the rates applicable to borrowings outstanding during the period. We do not capitalize amounts beyond the actual interest expense incurred in the period.
Earnings per share	Earnings per share Basic earnings per share is computed based on the income available to common stockholders and the weighted average number of shares outstanding. Treasury shares are weighted for the portion of the period they are outstanding. Diluted earnings per share includes the effect of the assumed conversion of potentially dilutive instruments.
Cash and cash equivalents	Cash and cash equivalents All demand and time deposits and highly liquid, low risk investments with original maturities of three months or less at the date of purchase are considered equivalent to cash. Cash includes cash on hand and in the Company's bank accounts. The Company is required to maintain a minimum cash balance in accordance with its debt facility agreements with various banks. Such amounts are included in Cash and cash equivalents.
Restricted cash	Restricted cash Restricted cash consists of cash, which may only be used for certain purposes under our contractual arrangements and primarily comprises collateral deposits for derivative trading.
Marketable securities	Marketable securitiesOur marketable securities are investments in equity securities with readily determinable fair values. These investments are measured at fair value and any resulting unrealized gains and losses are recorded in the consolidated statement of operations.
Derivatives	Derivatives Our derivative instruments include interest-rate swaps, foreign currency swaps, forward freight agreements and bunker derivatives. These derivatives are considered to be economic hedges. However, none of these derivative instruments have been designated as hedges for accounting purposes. These transactions involve the conversion of floating rates into fixed rates over the life of the transactions without changes in the fair values are recognized as assets or liabilities. Changes in the fair value of these derivatives are recorded in Gain (loss) on derivatives in our consolidated statement of operations. Cash outflows and inflows resulting from economic derivative contracts are presented as cash flows from operations in the consolidated statement of cash flows.
Financial instruments	Financial instruments In determining the fair value of our financial instruments, we use a variety of methods and assumptions that are based on market conditions and risks, including determining the impact of nonperformance risks, existing at each balance sheet date. For the majority of financial instruments, including most derivatives and long-term debt, standard market conventions and techniques such as options pricing models are used to determine fair value. All methods of assessing fair value result in a general approximation of value, and such value may never actually be realized.
Receivables	Receivables Trade receivables, other receivables and long-term receivables are presented net of allowances for doubtful balances and credit losses. The company creates the allowance for expected credit losses to reflect the risk of estimated loss during the lifetime of receivables. The Company makes significant judgements and assumptions to estimate its expected losses. The allowance for credit losses can be determined using various methods, such as loss-rate methods, probability-of-default method or methods that utilize an aging schedule. At each reporting date, the allowance for credit losses is recorded as a reduction of receivables. Net income is adjusted to reflect the change in estimate from prior period. On January 1, 2020, we adopted ASU No 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, using a modified retrospective approach. The Company recorded a net decrease to retained earnings of $0.22 million as of January 1, 2020 for the cumulative effect of adopting the standard. If trade accounts receivable become uncollectible, they are charged as an operating expense. Allowance for doubtful balances is deducted from the allowance for credit losses and recorded separately as a reduction of accounts receivable. Allowance for doubtful balances are recorded in the period in which the financial assets are deemed uncollectible.
Inventories	Inventories Inventories, which are comprised principally of fuel and lubricating oils, are stated at the lower of cost and net realizable value. Cost is determined on a first-in, first-out basis.
Vessels, newbuildings and depreciation	Vessels, newbuildings and depreciation Vessels are stated at cost less accumulated depreciation. Newbuildings represent the accumulated costs to the balance sheet date which we have paid by way of purchase installments and other capital expenditures together with capitalized interest and associated finance costs. Depreciation is calculated based on cost less estimated residual value, using the straight-line method, over the useful life of each vessel. For newbuildings no charge for depreciation is made until the vessel is available for use. The useful life of each vessel is deemed to be 25 years. The residual value is calculated by multiplying the lightweight tonnage of the vessel by the market price of scrap per tonne. The market price of scrap per tonne is calculated as the 10-year historical average up to the date we take ownership of the vessel, across the two main recycling market s (Indian sub-continent and Bangladesh). Re sidual values are reviewed annually.
Finance leases and Operating leases	Finance leases We charter in certain vessels and equipment under leasing agreements. Leases of vessels and equipment where we have substantially all the risks and rewards of ownership are classified as finance leases and we recognize on the balance sheet the right to use those assets and a corresponding liability. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We make significant judgments and assumptions to estimate our incremental borrowing rate that a lessee would have to pay to borrow on a 100% collateralized basis over a term similar to the lease term and in an amount equal to the lease payments in a similar economic environment. We perform the following steps in estimating our incremental borrowing rate: (i) gather observable debt yields of our recently issued debt facilities; and (ii) make adjustments to the yields of the actual debt facilities to reflect changes in collateral level, terms, the risk-free interest rate, and credit ratings. Each lease payment is allocated between liability and finance charges to achieve a constant rate on the finance balance outstanding. The interest element of the finance cost is expensed to the Consolidated Statement of Operations over the lease period. Variable lease payments that depend on an index or a rate are included in the calculation of lease payments and are measured using the prevailing index or rate at the measurement date. Future changes in an index or a rate are recognized as part of lease-related cost in each year. Depreciation of vessels and equipment under finance lease is included within "Depreciation" in the Consolidated Statement of Operations. Vessels and equipment under finance lease are depreciated on a straight-line basis over the vessels' remaining economic useful life or on a straight-line basis over the expected term of the lease if shorter. Upon termination of a finance lease, any remaining assets and obligations related to the vessel are written off to the Statement of Operations. The net position, including any termination payments, are presented in Other operating gains (losses). Operating leases Our operating leases relate to vessels, offices and equipment under leasing agreements that do not meet the criteria to be classified as finance leases. We recognize on the balance sheet the right to use those assets and a corresponding liability in respect of all material lease contracts with a duration, or lease term, of 12-months or above. Similar to our finance leases, the discount rate used for calculating the cost of the operating leases is the incremental cost of borrowing. The amortization of right of use assets relating to operating leased vessels is presented under charter hire expenses in the statement of operations. Impairment loss related to operating leases is presented in the income statement as a separate line within operating expense under Impairment loss on right of use assets. For our time charter-in contracts, a non-lease component, or service element has been determined which is reported under ship operating expenses. We make significant judgements and assumptions to separate the lease component from the non-lease component of our time chartered-in vessels. For purposes of determining the standalone selling price of the vessel lease and technical management service components of our time charters, we have concluded that the residual approach would be the most appropriate method to use given that vessel lease rates are highly variable depending on shipping market conditions, the duration of such charters, and the age of the vessel. We believe that the standalone transaction price attributable to the technical management service component is more readily determinable than the price of the lease component and, accordingly, the price of the service component is estimated and the residual transaction price is attributed to the vessel lease component. The amortization of right of use assets relating to office leases is reported under administrative expenses in the statement of operations.
Value of long-term charter contracts	Value of long-term charter contracts We account for the fair value of acquired long-term charter contracts, as either a separate asset or liability. The fair value is calculated as the net present value of the difference in cash flows arising over the period of the contract when the expected cash flows from the contract are compared to expected cash flows from comparable contracts at the acquisition date. An asset is recorded for contracts, which are favorable to us and a liability has been recorded for contracts, which are unfavorable to us.
Equity method investments	Equity method investments Investments in companies over which we have the ability to exercise significant influence but do not control are accounted for using the equity method. We record our investments in equity-method investees in the consolidated balance sheets as "Investment in associated companies" and our share of the investees' earnings or losses in the consolidated statements of operations as "Share of results of associated companies". The excess, if any, of purchase price over book value of our investments in equity method investees is included in the accompanying consolidated balance sheets in "Investment in associated companies". The carrying values of equity method investments are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may no longer be recoverable. Such indicators may include depressed spot rates and depressed second-hand vessel values. We assess recoverability of the carrying value of each individual equity method investments by estimating the fair value of the net assets of the company. An impairment loss is recorded equal to the difference between the investments carrying value and fair value. Fair value of investment is estimated based on values achieved for the sale/purchase of similar vessels and appraised valuations of the investments underlying assets. Sales of shares of an investee is accounted for as gains or losses under non-operating items equal to the difference at the time of sale between selling price and carrying amount of the shares sold.
Deferred charges	Deferred chargesLoan costs, including debt arrangement fees, are capitalized and amortized on a straight-line basis over the term of the relevant loan. The straight line basis of amortization approximates the effective interest method. If a loan is repaid early, any unamortized portion of the related deferred charges is charged against income in the period in which the loan is repaid. Amortization of deferred charges is included in interest expense. Debt issuance costs are presented in the balance sheet as a direct deduction from the carrying amount of the related debt.
Distributions to shareholders	Distributions to shareholdersDistributions to shareholders are applied first to retained earnings. When retained earnings are not sufficient, distributions are applied to the contributed capital surplus account.
Stock-based compensation	Stock-based compensation Stock based compensation represents the cost of vested and non-vested shares and share options granted to employees and to directors, for their services, and is included in “General and administrative expenses” in the consolidated statements of operations. The fair value of share options grants is determined with reference to option pricing models, and depends on the terms of the granted options. The fair value is recognized as compensation expense over the requisite service period for all awards that vest based on the ’straight-line method’ which treats such awards as a single award and results in recognition of the cost ratably over the entire vesting period.
Treasury shares	Treasury shares When the Company repurchases its share capital, the amount of the consideration paid is recognized as a deduction from equity and classified as treasury shares, pending future use. Treasury shares are recognized and measured at historic costs. In the event of a future resale, any price above the repurchase price would be allocated to additional paid in capital. The weighted average treasury shares reduce the number of shares outstanding used in calculating earnings per share.
Comprehensive income	Comprehensive income The statement of comprehensive income presents the change in equity (net assets) during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by shareholders and distributions to shareholders. Reclassification adjustments are presented out of other comprehensive income on the face of the statement in which the components of other comprehensive income are presented or in the notes to the financial statements. The Company follows the provisions of ASC 220 “Comprehensive Income”, and presents items of net income (loss), items of other comprehensive income (“OCI”) and total comprehensive income in two separate and consecutive statements.
Recently Issued Accounting Standards	RECENTLY ISSUED ACCOUNTING STANDARDS Accounting Standards Updates, recently adopted In March 2020, the FASB issued ASU 2020-04 (ASC 848 Reference Rate Reform), which provides optional expedients and exceptions for applying U.S. GAAP guidance to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update are elective and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Relief provided by ASU 2020-04, as amended by ASU 2022-06, Reference Rate Reform (ASC 848) – Deferral of the Sunset Date of Topic 848 – issued in December 2022, is optional and expires December 31, 2024. The Company has determined that reference rate reforms will primarily impact its floating rate debt facilities and the interest rate derivatives to which it is a party.

EARNING PER SHARE (Tables)

EARNING PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The components of the numerator and the denominator in the calculation of basic and diluted earnings per share are as follows: (in thousands of $) 2022 2021 2020 Net income (loss) 461,847 527,218 (137,669) (in thousands) 2022 2021 2020 Weighted average number of shares outstanding - basic 200,685 192,355 143,282 Dilutive impact of stock options 503 615 — Weighted average number of shares outstanding - diluted 201,188 192,970 143,282

OPERATING REVENUES (Tables)

OPERATING REVENUES (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table shows the revenues earned from time charters, voyage charters and other revenues for the year ended December 31, 2022, 2021 and 2020: (in thousands of $) 2022 2021 2020 Time charter revenues 593,795 603,959 235,673 Voyage charter revenues 518,398 597,812 370,130 Other revenues 1,263 1,410 2,140 Total operating revenues 1,113,456 1,203,181 607,943 For the year ended December 31, 2022 the split between lease and non-lease component was as follows: (in thousands of $) Lease Non-lease Total Time charter revenues 579,673 14,122 593,795 Voyage charter revenues 49,746 468,652 518,398 Other revenues — 1,263 1,263 Total operating revenues 629,419 484,037 1,113,456 Variable lease income included into our time-charter agreements amou nted to $18.9 million, $21.0 million and $3.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. For the year ended December 31, 2021 the split between lease and non-lease component was as follows: (in thousands of $) Lease Non-lease Total Time charter revenues 603,959 — 603,959 Voyage charter revenues 192,895 404,917 597,812 Other revenues — 1,410 1,410 Total operating revenues 796,854 406,327 1,203,181 For the year ended December 31, 2020 the split between lease and non-lease component was as follows: (in thousands of $) Lease Non-lease Total Time charter revenues 235,673 — 235,673 Voyage charter revenues 26,111 344,019 370,130 Other revenues — 2,140 2,140 Total operating revenues 261,784 346,159 607,943
Contract with Customer, Asset and Liability	As of December 31 2022, we reported trade accounts receivable and the following contract assets in relation to our contracts with customers, including contracts containing lease components where the non-lease component was the predominant component and the revenues where therefore accounted for under ASC 606: (in thousands of $) 2022 2021 Voyages in progress (contract assets) 14,690 14,476 Trade accounts receivable 4,468 15,916 Other current assets (capitalized fulfillment costs) 4,894 3,249 Total 24,052 33,641

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Amortization of Finance Lease Assets and Obligations	Our right of use assets for long-term operating leases were as follows: (in thousands of $) SFL Leases Golden Hawk Lease Admiral Schmidt and Vitus Bering Leases Office Leases Total Balance as of December 31, 2020 14,001 1,154 5,361 2,223 22,739 Additions and modification — 3,240 — 229 3,469 Amortization (1,820) (1,013) (3,053) (357) (6,243) Balance as of December 31, 2021 12,181 3,381 2,308 2,095 19,965 Additions — 3,081 9,484 — 12,565 Amortization (1,820) (2,698) (1,456) (574) (6,548) Modification — — (10,336) — (10,336) Balance as of December 31, 2022 10,361 3,764 — 1,521 15,646 Our lease obligations for long-term operating leases were as follows: (in thousands of $) SFL Leases Golden Hawk Lease Admiral Schmidt and Vitus Bering Leases Office Leases Total Balance as of December 31, 2020 18,559 4,747 16,470 2,261 42,037 Additions — — — — — Repayments (2,667) (4,357) (9,294) (201) (16,519) Modification — 3,240 — — 3,240 Foreign exchange translation — — — 9 9 Balance as of December 31, 2021 15,892 3,630 7,176 2,069 28,767 Additions — 3,081 9,484 — 12,565 Repayments (2,537) (2,874) (2,214) (606) (8,231) Modification — — (14,446) — (14,446) Foreign exchange translation — — — (58) (58) Balance as of December 31, 2022 13,355 3,837 — 1,405 18,597 Current portion 2,010 3,050 — 486 5,546 Non-current portion 11,345 787 — 919 13,051
Summary of Future Minimum Rental Payments Under Non-Cancelable Operating Leases	The future minimum operating lease expense payments (including lease and non-lease components) under our non-cancelable fixed rate operating leases as of December 31, 2022 are as follows: (in thousands of $) 2023 6,500 2024 4,169 2025 3,369 2026 2,809 2027 and thereafter 4,769 Total minimum lease payments 21,616 Less: Imputed interest (3,019) Present value of operating lease liabilities 18,597
Schedule of Future Minimum Operating Lease Revenue Receipts Under Non-Cancelable Operating Leases	The future operating lease receipts under our operating leases as of December 31, 2022 are as follows: (in thousands of $) 2023 21,514 2024 — 2025 — 2026 — 2027 and thereafter — 21,514

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	12 Months Ended
	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	As of December 31, 2022, 2021 and 2020, the following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position that sum to the total of the same such amounts shown in the statement of cash flows. (in thousands of $) 2022 2021 2020 Cash and cash equivalents 134,784 197,032 153,093 Short-term restricted cash 3,289 12,985 22,009 Total cash, cash equivalents and restricted cash shown in the statement of cash flows 138,073 210,017 175,102

MARKETABLE EQUITY SECURITIES (T

MARKETABLE EQUITY SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Marketable Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	(in thousands of $) 2022 2021 Balance at start of year 1,684 3,684 Unrealized gain (loss), net 503 (2,000) Total marketable equity securities 2,187 1,684

TRADE ACCOUNTS RECEIVABLE, NET

TRADE ACCOUNTS RECEIVABLE, NET (Tables)	12 Months Ended
	Dec. 31, 2022
TRADE ACCOUNTS RECEIVABLE, NET [Abstract]
Schedule of Trade Receivables	Trade accounts receivables are stated net of a provision for doubtful accounts and credit loss allowance. (in thousands of $) 2022 2021 2020 Trade accounts receivable 15,397 29,135 22,904 Provision for doubtful accounts (403) (253) (165) Allowance for expected credit losses (44) (44) (35) Total trade accounts receivable, net 14,950 28,838 22,704
Schedule of Changes in Allowance For Doubtful Accounts	Movements in the provision for doubtful accounts in the three years ended December 31, 2022 are summarized as follows: (in thousands of $) Balance as of December 31, 2019 594 Additions charged to income 165 Deductions credited to trade receivables (594) Balance as of December 31, 2020 165 Additions charged to income 253 Deductions credited to trade receivables (165) Balance as of December 31, 2021 253 Additions charged to income 403 Deductions credited to trade receivables (253) Balance as of December 31, 2022 403

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	(in thousands of $) 2022 2021 Capitalized fulfillment costs 4,894 3,541 Agent receivables 2,207 1,227 Advances 2,023 1,644 Claims receivables 5,967 4,342 Bunker receivables on time charter-out contracts 28,555 16,312 Other receivables 10,784 8,092 Total other current assets 54,430 35,158

VALUE OF CHARTER PARTY CONTRA_2

VALUE OF CHARTER PARTY CONTRACTS (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Value of Favorable Charter Party Contracts	The value of favorable charter-out contracts is summarized as follows: (in thousands of $) 2022 2021 2020 Opening balance — 4,073 16,221 Amortization charge — (4,073) (12,148) Total — — 4,073 Less: current portion — — (4,073) Non-current portion — — —

VESSELS AND EQUIPMENT, NET (Tab

VESSELS AND EQUIPMENT, NET (Table)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Summary Rollforward of Vessels and Equipment	(in thousands of $) Cost Accumulated Depreciation Net Book Value Balance as of December 31, 2020 2,726,105 (458,419) 2,267,686 Additions Vessel Acquisitions 640,991 — 640,991 Additions BWTS 2,911 — 2,911 Disposals (18,746) 4,103 (14,643) Transfer from newbuildings 116,446 — 116,446 Transfer to held for sale (27,635) 7,506 (20,129) Impairment loss (4,187) — (4,187) Depreciation — (108,754) (108,754) Balance as of December 31, 2021 3,435,885 (555,564) 2,880,321 Additions BWTS 6,044 — 6,044 Disposals and transfer to Vessels Held for Sale* (123,524) 30,358 (93,166) Transfer to Vessels Held for Sale** (17,627) 5,085 (12,542) Depreciation — (114,872) (114,872) Balance as of December 31, 2022 3,300,778 (634,993) 2,665,785 *this line includes vessels sold and delivered to new owners during 2022 **this line includes transfer to Vessels held for sale which are reflected on the balance sheet as of December 31, 2022

FINANCE LEASES (Tables)

FINANCE LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Changes in Right-of-Use Assets and Lease Liabilities	Our right of use asset for our finance leases were as follows: (in thousands of $) Balance as of January 1, 2021 113,480 Additions — Depreciation (14,945) Impairment — Balance as of December 31, 2021 98,535 Additions — Depreciation (14,946) Impairment — Balance as of December 31, 2022 83,589 In 2020, we recorded a total of $70.0 million in impairment of right of use assets for vessels under finance leases. The loss recorded is equal to the difference between the carrying value of right of use assets and estimated fair value of the leased assets following an impairment review that was triggered by the negative market developments in the start of 2020. Our lease obligations for our finance leases were as follows: (in thousands of $) Balance as of January 1, 2021 151,205 Additions — Repayments (32,237) Interest expense on obligations under finance lease 8,762 Balance as of January 1, 2022 127,730 Additions — Repayments (29,059) Interest expense on obligations under finance lease 7,304 Balance as of December 31, 2022 105,975 Current portion 18,387 Non-current portion 87,588
Schedule of Outstanding Obligations Under Finance Leases	The outstanding obligations under finance leases as of December 31, 2022 are payable as follows: (in thousands of $) 2023 24,484 2024 24,553 2025 22,551 2026 20,617 2027 20,617 Thereafter 12,320 Minimum lease payments 125,142 Less: imputed interest (19,167) Present value of obligations under finance leases 105,975

EQUITY METHOD INVESTMENTS (Tabl

EQUITY METHOD INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	As of December 31, 2022, the Company had the following participation in investments that are recorded using the equity method: (% of ownership) 2022 2021 TFG Marine Pte Ltd ("TFG Marine") 10.00 % 10.00 % SwissMarine Pte. Ltd. ("SwissMarine")** 16.40 % 17.50 % United Freight Carriers LLC. ("UFC") 50.00 % 50.00 % Capesize Chartering Ltd. ("CCL")* — 25.00 % *Following the termination of the pool agreement, in February 2022 our 25% share in CCL was sold for $17.5 thousands . ** In March 2023, our ownership in SwissMarine was diluted from 16.4% to 15.9%. Movements in equity method investments for the years ended December 31, 2022 and 2021 are summarized as follows: (in thousands of $) Swiss Marine UFC TFG Marine Other Total Balance as of December 31, 2020 15,371 545 483 — 16,399 Share of income / (loss) 24,351 1,073 (483) 3 24,944 Balance as of December 31, 2021 39,722 1,618 — 3 41,343 Distributions received from associated companies (9,828) (6,445) — — (16,273) Loss on disposal of equity method investments (891) — — — (891) Share of income 22,434 9,039 10,211 — 41,684 Other — — — (463) (463) Balance a s of December 31, 2022 51,437 4,212 10,211 (460) 65,400

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	(in thousands of $) 2022 2021 $275.0 million term loan and revolving facility 263,943 — $304.0 million term loan and revolving facility 216,622 235,315 $93.75 million term loan 70,739 77,314 $131.79 million term loan 88,856 98,681 $155.3 million term loan 70,890 121,573 $120.0 million term loan 63,545 81,071 $420.0 million term loan — 280,387 $260.0 million lease financing 244,524 256,905 $175.0 million term loan and revolving facility 112,387 122,477 Total U.S. dollar denominated floating rate debt 1,131,506 1,273,723 Deferred charges (10,650) (11,378) Total debt 1,120,856 1,262,345 Current portion of debt (92,865) (105,864) Long-term portion of debt 1,027,991 1,156,481
Schedule of Debt	Movements in 2022, 2021 and 2020 are summarized as follows: (in thousands of $) Floating rate debt Deferred charges Total Balance as of December 31, 2019 1,122,148 (8,278) 1,113,870 Loan repayments (390,138) — (390,138) Loan draw downs 322,012 — 322,012 Capitalization of debt issuance cost, net of amortization — (261) (261) Balance as of December 31, 2020 1,054,022 (8,539) 1,045,483 Loan repayments (628,900) — (628,900) Loan draw downs 848,601 — 848,601 Capitalization of debt issuance cost, net of amortization — (2,839) (2,839) Balance as of December 31, 2021 1,273,723 (11,378) 1,262,345 Loan repayments (417,217) — (417,217) Loan draw downs 275,000 — 275,000 Capitalized financing fees and expenses — (2,890) (2,890) Amortization of debt issuance cost — 3,618 3,618 Balance as of December 31, 2022 1,131,506 (10,650) 1,120,856
Schedule of Maturities of Long-term Debt	The outstanding debt as of December 31, 2022 is repayable as follows: (in thousands of $) 2023 92,865 2024 274,101 2025 277,443 2026 116,610 2027 187,870 Thereafter 182,617 Total U.S. dollar denominated floating rate debt 1,131,506 Deferred charges (10,650) Total debt 1,120,856

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses	(in thousands of $) 2022 2021 Voyage expenses 18,197 11,204 Ship operating expenses 16,106 17,968 Administrative expenses 3,682 4,570 Tax expenses 381 394 Interest expenses 5,022 4,433 Total accrued expenses 43,388 38,569

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	(in thousands of $) 2022 2021 Deferred charter revenue 29,153 34,626 Payroll and employee tax 653 654 Bunker obligations on time charter out contracts 3,652 1,523 Other current liabilities 36 462 Total other current liabilities 33,494 37,265

DERIVATIVE INSTRUMENTS PAYABL_2

DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Our derivative instruments are not designated as hedging instruments and are summarized as follows: (in thousands of $) 2022 2021 Interest rate swaps 32,858 2,608 Foreign currency swaps — 71 Bunker derivatives 265 — Forward freight agreements — — Asset Derivatives - Fair Value 33,123 2,679 (in thousands of $) 2022 2021 Interest rate swaps — 10,364 Foreign currency swaps 10 — Bunker derivatives 1,303 — Forward freight agreements — — Liability Derivatives - Fair Value 1,313 10,364
Derivative Instruments, Gain (Loss)	During 2022, 2021 and 2020, the following were recognized and presented under “Gain (loss) on derivatives” in the consolidated statement of comprehensive income: (in thousands of $) 2022 2021 2020 Interest rate swaps Interest income (expense) (466) (8,349) (5,030) Unrealized fair value gain (loss) 40,614 19,802 (19,868) Foreign currency swaps Realized gain (loss) (194) 60 71 Unrealized fair value gain (loss) 113 (257) 519 Forward freight agreements Realized gain (loss) (579) 18,969 10,207 Options — — (1,313) Bunker derivatives Realized gain (loss) 1,518 410 (2,193) Unrealized fair value gain (loss) (1,038) (170) 157 39,968 30,465 (17,450)

SHARE CAPITAL, TREASURY SHARE_2

SHARE CAPITAL, TREASURY SHARES AND DIVIDENDS (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Stock by Class	Authorized share capital: (in thousands of $ except per share amount) 2022 2021 2020 300 million common shares in 2022 and 2021 and 200 million common shares in 2020 with $0.05 par value 15,000 15,000 10,000 Issued and outstanding number of shares: (number of shares of $0.05 each) 2022 2021 2020 Issued shares: Balance at start of year 201,190,621 144,272,697 144,272,697 - Shares issued — 56,917,924 — - Issue of consideration shares to Hemen — — — - Settlement of options — — — Issued shares: Balance at the end of year 201,190,621 201,190,621 144,272,697 Outstanding number of shares: Balance at start of year 200,435,621 143,327,697 143,277,697 - Shares issued — 56,917,924 — - Repurchases of shares (400,000) — — - Distribution of treasury shares 450,000 190,000 50,000 Outstanding number of shares: Balance at end of year 200,485,621 200,435,621 143,327,697

SHARE OPTIONS (Tables)

SHARE OPTIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Number of Share Options Outstanding and Share Option Transactions	2020 Grant CEO 2020 Grant CFO 2020 Grant CCO Grant date April 24, 2020 September 14, 2020 November 11, 2020 Tranche 1 150,000 of the options are exercisable on April 6, 2021 at the earliest, at a subscription price of NOK 35 per share 75,000 of the options are exercisable on September 4, 2021 at the earliest, at a Subscription Price of NOK 32 per share 75,000 of the options are exercisable on December 1, 2021 at the earliest, at a Subscription Price of NOK 33 per share Tranche 2 150,000 of the options are exercisable on April 6, 2022 at the earliest, at a Subscription Price of NOK 52.50 per share 75,000 of the options are exercisable on September 4, 2022 at the earliest, at a Subscription Price of NOK 48 per share 75,000 of the options are exercisable on December 1, 2022 at the earliest, at a Subscription Price of NOK 49.50 per share Tranche 3 250,000 of the options are exercisable on April 6, 2023 at the earliest, at a Subscription Price of NOK 70.00 per share 125,000 of the options are exercisable on September 4, 2023 at the earliest, at a Subscription Price of NOK 64 per share 125,000 of the options are exercisable on December 1, 2023 at the earliest, at a Subscription Price of NOK 66 per share Summary of assumptions for share options given in accordance with the terms of the Company's share option scheme from 2016: 2016 Grant 2020 Grant CEO 2020 Grant CFO 2020 Grant CCO Grant Date November 10, 2016 April 24, 2020 September 14, 2020 November 11, 2020 Expected Term (1) 5 years 5 years 5 years 5 years Expected Volatility (2) 71% 61% 62% 61% Expected Dividends (3) Nil Nil Nil Nil Dilution Adjustment (4) No No No No Risk-free Rate (5) 1.55 % 0.27 % 0.27 % 0.4 % Expected Forfeitures (6) Nil Nil Nil Nil The following table summarizes the option activity for the year ended December 31, 2022 and 2021: Number of options Weighted Average Exercise Price* Weighted Average Grant date Fair Value Management Total Total Outstanding as of December 31, 2020 1,200,000 1,290,000 $5.17 $1.63 Granted during 2021 — — — — Exercised during 2021 100,000 190,000 $3.35 $2.47 Forfeited during 2021 — — — — Exercisable as of December 31, 2021 300,000 300,000 $3.80 $2.06 Outstanding as of December 31, 2021 - Unvested 800,000 800,000 $6.88 $1.65 Total Outstanding as of December 31, 2021 1,100,000 1,100,000 $6.04 $1.76 Granted during 2022 — — — — Exercised during 2022 450,000 450,000 $3.97 $1.77 Forfeited during 2022 — — — — Exercisable as of December 31, 2022 150,000 150,000 $4.84 $1.39 Outstanding as of December 31, 2022 - Unvested 500,000 500,000 $6.70 $1.25 Total Outstanding as of December 31, 2022 650,000 650,000 $6.27 $1.28 • not adjusted for dividends The following table summarizes certain information about the options outstanding as of December 31, 2022 and 2021: Options Outstanding and Unvested, Options Outstanding and Exercisable, Weighted Average Exercise Price of Outstanding Options Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life $6.70 500,000 $6.70 2.55 150,000 $4.84 2.79 Options Outstanding and Unvested, Options Outstanding and Exercisable, Weighted Average Exercise Price of Outstanding Options Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life $6.88 800,000 $6.88 3.55 300,000 $3.80 3.55
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of all share options listed above was calculated based on the Black-Scholes method. The significant assumptions used to estimate the fair value of the share options are set out below: • Expected Term (1) Given that the exercise price is adjustable for any distribution of dividends made before the relevant options are exercised and that most of the grants is given to top management, we expect that it is reasonable for holders of the granted options to avoid early exercise of the options. As a result, we assumed that the expected term of the options is their contractual term. • Expected Volatility (2) We used the historical volatility of the common shares to estimate the volatility of the prices of the shares underlying the share options. • Expected dividends (3) For all share options granted the share options exercise price is adjustable for distribution of dividend before the share options are exercised. Therefore, dividend protection features are incorporated to option pricing model by using a zero-dividend yield assumption. • Dilution Adjustment (4) The number of share options is considered immaterial as compared to the number of shares outstanding and no dilution adjustment was incorporated in the valuation model. • Risk-free Rate (5) We used the five-year US Government bond risk-free yield-to-maturity rate of as of respective grant date as an estimate for the risk-free rate to match the expected contractual term of the share options. • Expected Forfeitures (6) We expect that there will be no or very limited forfeitures of non-vested shares options during the terms. This is in line with our historical experience.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	A summary of net amounts charged by related parties in 2022, 2021 and 2020 is as follows: (in thousands of $) 2022 2021 2020 Frontline 3,902 4,171 3,216 SFL 30,914 42,911 38,459 Seateam — — 2,552 Seatankers 8,756 27,978 31,955 CCL 395 2,028 23 Front Ocean Management AS 1,781 — — 45,748 77,088 76,205 Net amounts charged by related parties comprise general management and commercial management fees, charter hire, settlement with CCL, interest costs and technical supervision fees. A summary of net amounts charged to related parties in 2022, 2021 and 2020 is as follows: (in thousands of $) 2022 2021 2020 Frontline — 52 — SFL 96 468 957 Seatankers 486 817 954 Northern Drilling — 38 50 SwissMarine 2,033 13,281 19,528 CCL — — 2,965 2,615 14,656 24,454 Net amounts charged to related parties mainly comprise commercial management and general management fees and settlement with CCL. A summary of related parties income (expense) amounts included into Consolidated Statements of Operations is as follows: (in thousands of $) 2022 2021 2020 Time charter revenues 2,033 13,281 19,528 Other revenues 582 1,375 1,961 Other operating income (expenses) (413) (2,008) 2,965 Ship operating expenses 1 (4,916) (9,313) (11,574) Charter hire expenses 2 (37,328) (60,885) (63,468) Administrative expenses (2,636) (1,487) (1,163) Interest on credit facilities — (3,395) — (42,678) (62,432) (51,751) (1) Excluding newbuilding supervision fee of $0.5 million, which was capitalized as part of newbuildings (2) Including charter hire expenses for SFL leases which is subsequently credited to Depreciation and Interest expense A summary of balances due from related parties as of December 31, 2022 and 2021 is as follows: (in thousands of $) 2022 2021 Frontline 1,506 2,604 UFC 497 — SwissMarine — 281 Seatankers 352 5,751 Credit loss allowance (21) (21) 2,334 8,615 A summary of short-term balances owed to related parties as of December 31, 2022 and 2021 is as follows: (in thousands of $) 2022 2021 CCL 40 2,378 TFG Marine 9,219 6,563 Other 233 4,993 9,492 13,934

FINANCIAL ASSETS AND LIABILIT_2

FINANCIAL ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swaps Designated as Hedging Instruments	Our interest rate swap contracts as of December 31, 2022 of which none are designated as hedging instruments are summarized as follows: (in thousands of $) Notional Amount Inception Date Maturity Date Fixed Interest Rate Receiving floating, pay fixed 50,000 August 2017 August 2025 2.41 % Receiving floating, pay fixed 50,000 August 2017 August 2025 2.58 % Receiving floating, pay fixed 50,000 August 2019 August 2024 1.39 % Receiving floating, pay fixed 50,000 September 2019 September 2024 1.29 % Receiving floating, pay fixed 100,000 October 2019 October 2025 2.51 % Receiving floating, pay fixed 50,000 March 2020 March 2027 0.94 % Receiving floating, pay fixed 50,000 March 2020 March 2027 0.74 % Receiving floating, pay fixed 50,000 April 2022* December 2027 2.17 % Receiving floating, pay fixed 50,000 July 2022* September 2030 1.77 % 500,000 *SOFR-based forward-looking swaps: first payment date for the interest rate swaps is September 2024.
Carrying Value and Fair Value of Financial Instruments	The carrying value and estimated fair value of our financial instruments as of December 31, 2022 and December 31, 2021 are as follows: 2022 2022 2021 2021 (in thousands of $) Level Fair Carrying Value Fair Carrying Assets Cash and cash equivalents 1 134,784 134,784 197,032 197,032 Restricted cash 1 3,289 3,289 12,985 12,985 Marketable securities 1 2,187 2,187 1,684 1,684 Related party shareholder loans 2 837 837 6,187 6,187 Derivative assets 2 33,123 33,123 2,679 2,679 Liabilities Long-term debt - floating 2 1,131,506 1,131,506 1,273,723 1,273,723 Derivative liabilities 2 1,313 1,313 10,364 10,364
Schedule of Significant Unobservable Inputs	As of March 31, 2020, at the date of impairment tests, significant unobservable inputs were as follows: Significant unobservable input Range (all vessels) Weighted average Forward freight market rates adjusted for scrubber earnings $8,554 to $15,419 per day $15,044 per day Implied charter rates adjusted for scrubber earnings $12,715 to $15,584 per day $13,857 per day Ship operating expenses per day, including drydocking costs $5,328 to $7,754 per day $6,918 per day Offhire 1 to 38 days per year 5.61 days per year

ORGANIZATION AND BUSINESS (Deta

ORGANIZATION AND BUSINESS (Details) $ in Millions		1 Months Ended	12 Months Ended		37 Months Ended
	Sep. 18, 1996 crude_oil_carrier	Feb. 28, 2021 USD ($)	Dec. 31, 2022 vessel dwt subsidiary newbuilding	Dec. 31, 2021 USD ($) vessel newbuilding	Feb. 28, 2021 USD ($)	Oct. 07, 2014 company
Business background [Line Items]
Number of crude oil carriers | crude_oil_carrier	5
Number of companies involved in the merger | company						2
Number of vessel types | vessel			4
Number of owned vessels | vessel			75
Number of newbuildings under constructuion | newbuilding			10
Number of vessels chartered-In | vessel			9
Number of vessels under operating lease from third parties | vessel			2
Number of subsidiaries | subsidiary			1
Newcastlemax Vessels | Minimum
Business background [Line Items]
Vessel tonnage | dwt			200,000
Newcastlemax Vessels | Maximum
Business background [Line Items]
Vessel tonnage | dwt			210,000
Capesize Vessels | Minimum
Business background [Line Items]
Vessel tonnage | dwt			105,000
Capesize Vessels | Maximum
Business background [Line Items]
Vessel tonnage | dwt			200,000
Panamax Vessels | Minimum
Business background [Line Items]
Vessel tonnage | dwt			65,000
Panamax Vessels | Maximum
Business background [Line Items]
Vessel tonnage | dwt			105,000
Ultramax Vessel | Minimum
Business background [Line Items]
Vessel tonnage | dwt			55,000
Ultramax Vessel | Maximum
Business background [Line Items]
Vessel tonnage | dwt			65,000
Unrelated Third Parties
Business background [Line Items]
Number of vessels under operating lease from third parties | vessel			1
Hemen Holdings Ltd
Business background [Line Items]
Number of newbuildings acquired | newbuilding				3
Hemen Holdings Ltd | Dry Bulk Carriers
Business background [Line Items]
Number of vessels acquired | vessel				15
Consideration | $					$ 637.5
Debt assumed | $		$ 413.6		$ 413.6
Hemen Holdings Ltd | Dry Bulk Carriers And Newbuildings
Business background [Line Items]
Consideration | $		$ 752		752	$ 752
Equity capital | $				338
Debt assumed | $				$ 414
SFL
Business background [Line Items]
Number of vessels under operating lease from third parties | vessel			7
Number of vessels leased out under capital leases to third parties | vessel			1

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) market	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Property, Plant and Equipment [Line Items]
Decrease to retained earnings	$ (1,917,033)	$ (1,928,741)	$ (1,368,756)
Useful life	25 years
Average years used in market price scrap per ton calculation	10 years
Number of recycling markets | market	2
Accumulated earnings (deficit)
Property, Plant and Equipment [Line Items]
Decrease to retained earnings	$ (328,878)	$ (160,055)	366,722	$ 228,704
Cumulative Effect, Period of Adoption, Adjustment | Accumulated earnings (deficit)
Property, Plant and Equipment [Line Items]
Decrease to retained earnings			$ 220
Minimum
Property, Plant and Equipment [Line Items]
Standard payment terms, percent	90%
Days freight paid after completion of loading	3 days
Maximum
Property, Plant and Equipment [Line Items]
Standard payment terms, percent	95%
Days freight paid after completion of loading	5 days

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Revenue from External Customer [Line Items]
Number of reportable segments | segment	1
Total operating revenues	$ 1,113,456	$ 1,203,181	$ 607,943
Customer One
Revenue from External Customer [Line Items]
Total operating revenues		$ 117,700

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)		$ 461,847	$ 527,218	$ (137,669)
Weighted average number of shares outstanding - basic (in shares)		200,685,000	192,355,000	143,282,000
Dilutive impact of stock options (in shares)		503,047	615,000	0
Weighted average number of shares outstanding - diluted (in shares)		201,188,000	192,970,000	143,282,000
Options outstanding (in shares)		650,000	1,100,000	1,290,000
Exercised (in shares)	450,000	450,000	190,000
Treasury shares acquired (in shares)		400,000	0	0
Reduction to weighted average number of shares outstanding (in shares)		506,096	786,425	990,765
Oslo Stock Exchange
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Treasury shares acquired (in shares)		150,000
Nasdaq
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Treasury shares acquired (in shares)		250,000

OPERATING REVENUES - Schedule o

OPERATING REVENUES - Schedule of Revenues Earned From Time Charters, Voyage Charters and Other Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Lease	$ 629,419	$ 796,854	$ 261,784
Non-lease	484,037	406,327	346,159
Total	1,113,456	1,203,181	607,943
Time charter revenues
Disaggregation of Revenue [Line Items]
Lease	579,673	603,959	235,673
Non-lease	14,122	0	0
Total	593,795	603,959	235,673
Operating lease, variable lease income	18,900	21,000	3,000
Voyage charter revenues
Disaggregation of Revenue [Line Items]
Lease	49,746	192,895	26,111
Non-lease	468,652	404,917	344,019
Total	518,398	597,812	370,130
Other revenues
Disaggregation of Revenue [Line Items]
Lease	0	0	0
Non-lease	1,263	1,410	2,140
Total	$ 1,263	$ 1,410	$ 2,140

OPERATING REVENUES - Narrative

OPERATING REVENUES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 484,037,000	$ 406,327,000	$ 346,159,000
Capitalized voyage expense during the period	29,500,000	20,200,000
Capitalized contract cost, accumulated amortization	24,700,000	17,000,000
Capitalized fulfillment costs	4,900,000	3,200,000
Capitalized contract cost, amortization	3,200,000	3,200,000	13,300,000
Capitalized contract cost, impairment loss	0	0	0
Deferred charter revenue	29,153,000	34,626,000
Contract with customer, liability, revenue recognized	20,000,000
Allowance for credit loss	100,000
Total operating revenues	1,113,456,000	1,203,181,000	607,943,000
Other operating income (expenses), net - related party	$ (413,000)	(2,008,000)	2,965,000
Operating Lease Income Comprehensive Income Extensible List Not Disclosed Flag	operating leases
CCL
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 378,700,000	264,100,000
Supramax Vessels
Disaggregation of Revenue [Line Items]
Lease revenue	0	17,300,000	8,600,000
Demurrage
Disaggregation of Revenue [Line Items]
Revenues	29,300,000	49,100,000	$ 16,600,000
Ongoing Voyages
Disaggregation of Revenue [Line Items]
Deferred charter revenue	$ 16,200,000	$ 20,000,000

OPERATING REVENUES - Schedule_2

OPERATING REVENUES - Schedule of Contract Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Voyages in progress (contract assets)	$ 14,690	$ 14,476
Trade accounts receivable	4,468	15,916
Other current assets (capitalized fulfillment costs)	4,894	3,249
Total	$ 24,052	$ 33,641

GAIN ON SALE OF ASSETS (Details

GAIN ON SALE OF ASSETS (Details) $ in Thousands	1 Months Ended					3 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($)	Nov. 30, 2022 USD ($)	Jun. 30, 2022 USD ($) vessel	Feb. 28, 2022 USD ($) vessel	Oct. 31, 2021 USD ($) vessel	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) vessel	Dec. 31, 2020 USD ($) vessel
Property, Plant and Equipment [Line Items]
Number of vessels sold | vessel									3	1
Cash consideration					$ 37,200
Gain from sale of vessels								$ 34,185	$ 9,788	$ 0
Panamax Vessel
Property, Plant and Equipment [Line Items]
Number of vessels sold | vessel				3	2
Cash consideration		$ 14,600		$ 52,000
Gain from sale of vessels	$ 2,800						$ 9,500
Ultramax Vessel
Property, Plant and Equipment [Line Items]
Number of vessels sold | vessel			2
Cash consideration			$ 63,000
Gain from sale of vessels						$ 21,900
Golden Opportunity
Property, Plant and Equipment [Line Items]
Gain from sale of vessels					$ 4,900
Golden Endurer
Property, Plant and Equipment [Line Items]
Gain from sale of vessels					$ 4,900

IMPAIRMENT OF VESSELS (Details)

IMPAIRMENT OF VESSELS (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Oct. 31, 2021	Jan. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Cash consideration	$ 37,200
Impairment loss on vessels			$ 0	$ 4,187	$ 721
Golden Saguenay
Property, Plant and Equipment [Line Items]
Cash consideration		$ 8,400
Impairment loss on vessels				$ 4,200

OPERATING LEASES - Narrative (D

OPERATING LEASES - Narrative (Details)	1 Months Ended		3 Months Ended		9 Months Ended	12 Months Ended
	Aug. 31, 2021 vessel	Apr. 30, 2015 USD ($) vessel	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2022 USD ($) vessel contract	Dec. 31, 2021 USD ($) vessel contract	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($) vessel T	Dec. 31, 2015 USD ($) vessel
Lessee, Lease, Description [Line Items]
Number of vessels sold and leased back | vessel	9
Additions and modification						$ 12,565,000			$ 3,469,000
Right-of-use liabilities, additions and modifications						9,500,000
Charter hire expense						57,406,000			89,559,000	$ 66,812,000
Service element under ship operating expense						17,300,000			19,300,000	19,200,000
Operating lease, expense						57,200,000			81,700,000	29,000,000
Impairment loss on right of use assets						0			0	24,200,000
Total minimum lease payments						21,616,000	$ 21,616,000	$ 21,616,000
Short-term lease cost						50,100,000			62,400,000	23,500,000
Operating lease, payments						$ 66,700,000			$ 88,400,000	$ 35,700,000
Operating lease, weighted average discount rate, percent						5.02%	5.02%	5.02%	5.36%	5.20%
Operating lease, weighted average remaining lease term						4 years 8 months 12 days	4 years 8 months 12 days	4 years 8 months 12 days	4 years 6 months	4 years 4 months 24 days
Number of vessels chartered-out on fixed rate time charters | vessel						5	5	5	8
Number of vessels leased out index linked time charters | vessel						30	30	30	26
Number of owned vessels | vessel						35	35	35	34
General and Administrative Expense
Lessee, Lease, Description [Line Items]
Operating lease, expense						$ 600,000			$ 500,000	$ 500,000
Minimum
Lessee, Lease, Description [Line Items]
Lease term						1 year	1 year	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term									10 years
MV Admiral Schmidt And Vitus Bering
Lessee, Lease, Description [Line Items]
Daily time charter rate											$ 9,000
Profit share expense						$ 0			$ 200,000
Charter contract term											3 years
Number of annual options to extend charter period | vessel											4
Lease term											3 years
Charter hire expense										2,000,000
Golden Hawk Lease
Lessee, Lease, Description [Line Items]
Daily time charter rate				$ 13,200		13,200
Daily time charter rate extension						14,200			13,700
Maximum amount of reimbursement payable						1,750,000	$ 1,750,000	$ 1,750,000
Amount of reimbursement paid									1,750,000
Additions and modification						3,081,000			3,240,000
MV Admiral Schmidt And Vitus Bering
Lessee, Lease, Description [Line Items]
Vessels deadweight capacity | T											104,550
Office Leases
Lessee, Lease, Description [Line Items]
Additions and modification						0			229,000
Total minimum lease payments						1,700,000	1,700,000	1,700,000	2,200,000	2,600,000
Charter Hire Expenses
Lessee, Lease, Description [Line Items]
Total minimum lease payments						19,900,000	$ 19,900,000	19,900,000	30,400,000	45,300,000
Admiral Schmidt and Vitus Bering Leases
Lessee, Lease, Description [Line Items]
Additions and modification						9,484,000			$ 0
Vessels leased to third parties
Lessee, Lease, Description [Line Items]
Number of vessels sold and leased back | vessel							1		3
Property, plant and equipment, gross						1,826,700,000	$ 1,826,700,000	1,826,700,000	$ 1,637,300,000
Accumulated depreciation						404,100,000	$ 404,100,000	$ 404,100,000	$ 308,100,000
SFL
Lessee, Lease, Description [Line Items]
Number of vessels sold and leased back | vessel							1		1
Number of finance leases | vessel							7
Daily time charter rate						19,135
Variable interest rate level												0.10%
Number of vessels sold and leased back | vessel							8
Variable lease expense						600,000			$ 2,000,000	700,000
SFL | KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum
Lessee, Lease, Description [Line Items]
Number of vessels sold and leased back | vessel		8					8					8
Number of operating leases							1	2	2
Aggregate price sold en-bloc		$ 272,000,000
Duration of time charter		10 years
Daily time charter rate						16,624						$ 17,600
Daily operating expense rate					$ 7,000							7,000
Daily time charter rate			$ 14,900									$ 14,900
Profit share percentage												33%
Daily time charter rate, adjusted												$ 50
Charter term, contractual												7 years
Daily time charter rate, adjusted												$ 25
Charter term, contractual												3 years
Profit share expense						$ 3,000,000			$ 9,800,000	$ 37,900
Number of vessels sold and leased back | vessel							8
Purchase option net of sellers credit		$ 112,000,000										$ 112,000,000
Charter contract term												10 years
Charter term extension		3 years										3 years
Daily time charter rate extension		$ 14,900										$ 14,900
Total minimum lease period												13 years
SFL | KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum | London Interbank Offered Rate (LIBOR)
Lessee, Lease, Description [Line Items]
Basis spread on variable rate												0.40%

OPERATING LEASES - Schedule of

OPERATING LEASES - Schedule of Operating Lease, Right of Use Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Right Of Use Assets [Roll Forward]
Operating lease, right-of-use asset, beginning balance	$ 19,965	$ 22,739
Additions and modification	12,565	3,469
Amortization	(6,548)	(6,243)
Modification	(10,336)
Operating lease, right-of-use asset, beginning balance	15,646	19,965
SFL
Schedule Of Right Of Use Assets [Roll Forward]
Operating lease, right-of-use asset, beginning balance	12,181	14,001
Additions and modification	0	0
Amortization	(1,820)	(1,820)
Modification	0
Operating lease, right-of-use asset, beginning balance	10,361	12,181
Golden Hawk Lease
Schedule Of Right Of Use Assets [Roll Forward]
Operating lease, right-of-use asset, beginning balance	3,381	1,154
Additions and modification	3,081	3,240
Amortization	(2,698)	(1,013)
Modification	0
Operating lease, right-of-use asset, beginning balance	3,764	3,381
Admiral Schmidt and Vitus Bering Leases
Schedule Of Right Of Use Assets [Roll Forward]
Operating lease, right-of-use asset, beginning balance	2,308	5,361
Additions and modification	9,484	0
Amortization	(1,456)	(3,053)
Modification	(10,336)
Operating lease, right-of-use asset, beginning balance	0	2,308
Office Leases
Schedule Of Right Of Use Assets [Roll Forward]
Operating lease, right-of-use asset, beginning balance	2,095	2,223
Additions and modification	0	229
Amortization	(574)	(357)
Modification	0
Operating lease, right-of-use asset, beginning balance	$ 1,521	$ 2,095

OPERATING LEASES - Schedule o_2

OPERATING LEASES - Schedule of Operating Lease Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Change In Operating Lease Obligations [Roll Forward]
Operating lease obligation, beginning balance	$ 28,767	$ 42,037
Additions	12,565	0
Repayments	(8,231)	(16,519)
Modification	(14,446)	3,240
Foreign exchange translation	(58)	9
Operating lease obligation, ending balance	18,597	28,767
Current portion	5,546	13,860
Non-current portion	13,051	14,907
SFL
Change In Operating Lease Obligations [Roll Forward]
Operating lease obligation, beginning balance	15,892	18,559
Additions	0	0
Repayments	(2,537)	(2,667)
Modification	0	0
Foreign exchange translation	0	0
Operating lease obligation, ending balance	13,355	15,892
Current portion	2,010
Non-current portion	11,345
Golden Hawk Lease
Change In Operating Lease Obligations [Roll Forward]
Operating lease obligation, beginning balance	3,630	4,747
Additions	3,081	0
Repayments	(2,874)	(4,357)
Modification	0	3,240
Foreign exchange translation	0	0
Operating lease obligation, ending balance	3,837	3,630
Current portion	3,050
Non-current portion	787
Admiral Schmidt and Vitus Bering Leases
Change In Operating Lease Obligations [Roll Forward]
Operating lease obligation, beginning balance	7,176	16,470
Additions	9,484	0
Repayments	(2,214)	(9,294)
Modification	(14,446)	0
Foreign exchange translation	0	0
Operating lease obligation, ending balance	0	7,176
Current portion	0
Non-current portion	0
Office Leases
Change In Operating Lease Obligations [Roll Forward]
Operating lease obligation, beginning balance	2,069	2,261
Additions	0	0
Repayments	(606)	(201)
Modification	0	0
Foreign exchange translation	(58)	9
Operating lease obligation, ending balance	1,405	$ 2,069
Current portion	486
Non-current portion	$ 919

OPERATING LEASES - Charterhire

OPERATING LEASES - Charterhire and Office Rent Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	$ 6,500
2024	4,169
2025	3,369
2026	2,809
2027 and thereafter	4,769
Total minimum lease payments	21,616
Less: Imputed interest	(3,019)
Present value of operating lease liabilities	$ 18,597	$ 28,767	$ 42,037

OPERATING LEASES - Schedule o_3

OPERATING LEASES - Schedule of Future Minimum Operating Lease Revenue Receipts (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 21,514
2024	0
2025	0
2026	0
2027 and thereafter	0
Total	$ 21,514

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 134,784	$ 197,032	$ 153,093
Short-term restricted cash	3,289	12,985	22,009
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	138,073	210,017	175,102	$ 163,244
Minimum cash requirement	$ 20,000
Minimum cash requirement percentage	5%
Cash and cash equivalents covenanted to be retained	$ 61,300	$ 69,500	$ 59,800
Recourse Debt
Restricted Cash and Cash Equivalents Items [Line Items]
Minimum cash requirement	$ 20,000
Minimum cash requirement percentage	5%

MARKETABLE EQUITY SECURITIES -

MARKETABLE EQUITY SECURITIES - Summary of Available-For-Sale Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Available-for-sale Securities [Roll Forward]
Balance at start of year	$ 1,684	$ 3,684
Unrealized gain (loss), net	503	(2,000)	$ (10,177)
Total marketable equity securities	$ 2,187	$ 1,684	$ 3,684

MARKETABLE EQUITY SECURITIES _2

MARKETABLE EQUITY SECURITIES - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Marketable Securities [Abstract]
Dividends received	$ 8,700

TRADE ACCOUNTS RECEIVABLE, NE_2

TRADE ACCOUNTS RECEIVABLE, NET - Summary of Trade Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
TRADE ACCOUNTS RECEIVABLE, NET [Abstract]
Trade accounts receivable	$ 15,397	$ 29,135	$ 22,904
Provision for doubtful accounts	(403)	(253)	(165)
Allowance for expected credit losses	(44)	(44)	(35)
Trade accounts receivable, net	$ 14,950	$ 28,838	$ 22,704

TRADE ACCOUNTS RECEIVABLE, NE_3

TRADE ACCOUNTS RECEIVABLE, NET - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Allowance for expected credit losses	$ 44	$ 44	$ 35

TRADE ACCOUNTS RECEIVABLE, NE_4

TRADE ACCOUNTS RECEIVABLE, NET - Summary of Changes in Allowance For Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance for doubtful accounts balance, beginning balance	$ 253	$ 165	$ 594
Additions charged to income	403	253	165
Deductions credited to trade receivables	(253)	(165)	(594)
Allowance for doubtful accounts balance, ending balance	$ 403	$ 253	$ 165

OTHER CURRENT ASSETS (Details)

OTHER CURRENT ASSETS (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Capitalized fulfillment costs	$ 4,894,000	$ 3,541,000
Agent receivables	2,207,000	1,227,000
Advances	2,023,000	1,644,000
Claims receivables	5,967,000	4,342,000
Bunker receivables on time charter-out contracts	28,555,000	16,312,000
Other receivables	10,784,000	8,092,000
Total other current assets	54,430,000	35,158,000
Allowance for credit losses	46,300	46,300
Allowance for doubtful accounts	$ 0	$ 0

VALUE OF CHARTER PARTY CONTRA_3

VALUE OF CHARTER PARTY CONTRACTS - Movement in Favorable Charter Party Contracts (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (Decrease) In Favorable Charter Party Contracts [Roll Forward]
Opening balance	$ 0	$ 4,073,000	$ 16,221,000
Amortization charge	0	(4,073,000)	(12,148,000)
Total	0	0	4,073,000
Less: current portion	0	0	(4,073,000)
Non-current portion	$ 0	$ 0	$ 0

VALUE OF CHARTER PARTY CONTRA_4

VALUE OF CHARTER PARTY CONTRACTS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Amortization of charter party-out contracts	$ 0	$ 4,073,000	$ 12,148,000
Charter-out contracts	0	$ 0	$ 4,073,000	$ 16,221,000
Hemen Holdings Ltd
Property, Plant and Equipment [Line Items]
Unfavorable time charter-out contracts	2,200,000
Charter-out contracts	$ 0

VESSELS AND EQUIPMENT, NET - Su

VESSELS AND EQUIPMENT, NET - Summary of Changes in Vessels and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Vessels and equipment [Roll Forward]
Impairment loss	$ 0	$ (4,187)	$ (721)
Depreciation	(129,839)	(123,699)	(111,303)
Vessels and Equipment
Vessels and equipment [Roll Forward]
Cost, beginning of period	3,435,885	2,726,105
Accumulated depreciation beginning balance	(555,564)	(458,419)
Vessels and equipment, net, beginning period	2,880,321	2,267,686
Disposals	(123,524)	(18,746)
Disposals, accumulated depreciation	30,358	4,103
Vessels and equipment, disposals, net	(93,166)	(14,643)
Transfer from newbuildings		116,446
Transfers from newbuildings, accumulated depreciation		0
Transfers from newbuildings, net		116,446
Transfer to held for sale	(17,627)	(27,635)
Transfers to held for sale, accumulated depreciation	5,085	7,506
Transfers to held for sale, net	(12,542)	(20,129)
Impairment loss		(4,187)
Depreciation	(114,872)	(108,754)
Balance, end of period	3,300,778	3,435,885	2,726,105
Accumulated depreciation ending balance	(634,993)	(555,564)	(458,419)
Vessels and equipment, net, ending period	2,665,785	2,880,321	$ 2,267,686
Vessels and Equipment | Hemen
Vessels and equipment [Roll Forward]
Additions		640,991
Vessels and Equipment | BWTS
Vessels and equipment [Roll Forward]
Additions	$ 6,044	$ 2,911

VESSELS AND EQUIPMENT, NET - Ad

VESSELS AND EQUIPMENT, NET - Additional Information (Details) $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

37 Months Ended

Dec. 31, 2022 USD ($) vessel

Nov. 30, 2022 USD ($) vessel

Jun. 30, 2022 USD ($) vessel

Feb. 28, 2022 USD ($) vessel

Oct. 31, 2021 USD ($)

Feb. 28, 2021 USD ($) vessel

Jan. 31, 2021 USD ($)

Mar. 31, 2023 USD ($)

Sep. 30, 2022 USD ($)

Jun. 30, 2022 USD ($)

Dec. 31, 2022 USD ($) vessel

Dec. 31, 2021 USD ($) vessel newbuilding

Dec. 31, 2020 USD ($) vessel

Feb. 28, 2021 USD ($) vessel

Property, Plant and Equipment [Line Items]

Number of vessels sold | vessel

3

1

Proceeds from sale of vessels

$ 37,200

Gain (loss) on sale of vessels

$ 34,185

$ 9,788

$ 0

Technical supervision and other costs

500

Depreciation

$ 114,900

$ 108,800

94,400

Hemen Holdings Ltd

Property, Plant and Equipment [Line Items]

Number of newbuildings acquired | newbuilding

3

Unfavorable time charter-out contracts cost

$ 2,200

Additional capitalized cost, unfavorable time charter-out contracts

2,100

Technical supervision and other costs

$ 1,100

Dry Bulk Carriers | Hemen Holdings Ltd

Property, Plant and Equipment [Line Items]

Number of vessels acquired under heads of agreement | vessel

15

15

Consideration for vessels and newbuildings acquired

$ 637,500

Dry Bulk Carriers And Newbuildings | Hemen Holdings Ltd

Property, Plant and Equipment [Line Items]

Consideration for vessels and newbuildings acquired

$ 752,000

$ 752,000

752,000

Newbuildings | Hemen Holdings Ltd

Property, Plant and Equipment [Line Items]

Consideration for vessels and newbuildings acquired

$ 114,500

Newcastlemax Vessels

Property, Plant and Equipment [Line Items]

Number of vessels at year end | vessel

13

13

13

Capesize Vessels

Property, Plant and Equipment [Line Items]

Number of vessels at year end | vessel

35

35

35

Panamax Vessels

Property, Plant and Equipment [Line Items]

Number of vessels at year end | vessel

27

27

31

Ultramax Vessel

Property, Plant and Equipment [Line Items]

Number of vessels at year end | vessel

2

Number of vessels sold | vessel

2

Proceeds from sale of vessels

$ 63,000

Gain (loss) on sale of vessels

$ 21,900

Golden Ice and Golden Strength

Property, Plant and Equipment [Line Items]

Number of vessels sold | vessel

2

Proceeds from sale of vessels

$ 30,300

Golden Cecilie and Golden Cathrine

Property, Plant and Equipment [Line Items]

Number of vessels sold | vessel

2

Proceeds from sale of vessels

$ 63,000

Gain (loss) on sale of vessels

$ 21,900

Golden Empress, Golden Enterprise, and Golden Endeavor

Property, Plant and Equipment [Line Items]

Number of vessels sold | vessel

3

Proceeds from sale of vessels

$ 52,000

Gain (loss) on sale of vessels

$ 9,500

Golden Spray, Golden Fast and Golden Furious

Property, Plant and Equipment [Line Items]

Number of newbuildings acquired | vessel

3

Technical supervision and other costs

$ 2,100

Golden Spray, Golden Fast and Golden Furious | Hemen Holdings Ltd

Property, Plant and Equipment [Line Items]

Number of newbuildings acquired | vessel

3

3

Vessels and Equipment | Hemen Holdings Ltd

Property, Plant and Equipment [Line Items]

Aggregate capitalized costs

$ 757,400

Ballast Water Treatment System

Property, Plant and Equipment [Line Items]

Aggregate capitalized costs

$ 6,000

2,900

1,200

Scrubbers

Property, Plant and Equipment [Line Items]

Aggregate capitalized costs

30,400

Golden Endurer and Golden Opportunity

Property, Plant and Equipment [Line Items]

Gain (loss) on sale of vessels

9,800

Golden Saguenay

Property, Plant and Equipment [Line Items]

Proceeds from sale of vessels

$ 8,400

Gain (loss) on sale of vessels

$ (4,200)

Golden Shea

Property, Plant and Equipment [Line Items]

Gain (loss) on sale of vessels

$ (700)

Golden Ice

Property, Plant and Equipment [Line Items]

Gain (loss) on sale of vessels

$ 2,800

Golden Strength | Forecast

Property, Plant and Equipment [Line Items]

Gain (loss) on sale of vessels

$ 2,700

NEWBUILDINGS (Details)

NEWBUILDINGS (Details) $ in Thousands	1 Months Ended	12 Months Ended			37 Months Ended
	Feb. 28, 2021 USD ($) vessel	Dec. 31, 2022 USD ($) dwt newbuilding	Dec. 31, 2021 USD ($) vessel newbuilding	Dec. 31, 2020 USD ($)	Feb. 28, 2021 vessel	Dec. 31, 2024 vessel	Dec. 31, 2023 vessel	Jun. 30, 2023 vessel	Jun. 30, 2022 vessel
Property, Plant and Equipment [Line Items]
Newbuildings		$ 91,898	$ 35,678
Number of newbuildings under constructuion | newbuilding		10
Additions to newbuildings		$ 56,028	152,460	$ 0
Reduction of cost due to late delivery			$ 2,500
Technical supervision and other costs		500
Hemen Holdings Ltd
Property, Plant and Equipment [Line Items]
Number of newbuildings acquired | newbuilding			3
Technical supervision and other costs	$ 1,100
Kamsarmax
Property, Plant and Equipment [Line Items]
Newbuildings		$ 91,900
Number of newbuildings under constructuion | vessel			7						3
Vessel tonnage | dwt		85,000
Additions to newbuildings		$ 53,400	$ 35,600
Capitalized interest		2,400
Number of newbuildings | vessel			10
Committed amount		$ 255,600
Kamsarmax | Forecast
Property, Plant and Equipment [Line Items]
Number of newbuildings under constructuion | vessel						1	2	4
Dry Bulk Carriers | Hemen Holdings Ltd
Property, Plant and Equipment [Line Items]
Debt assumed	413,600		$ 413,600
Debt assumed, in cash	$ 63,000		63,000
Golden Spray, Golden Fast and Golden Furious
Property, Plant and Equipment [Line Items]
Additions to newbuildings			$ 68,400
Number of newbuildings acquired | vessel			3
Number of SPCs acquired | vessel			3
Value of share consideration paid in connection with purchase of vessel			$ 44,200
Working capital payment			600
Liquidated damages			2,500
Technical supervision and other costs			2,100
Transfers to vessels and equipment			116,400
Golden Spray, Golden Fast and Golden Furious | Hemen Holdings Ltd
Property, Plant and Equipment [Line Items]
Number of newbuildings acquired | vessel	3				3
Liquidated damages reimbursed			$ 2,200

FINANCE LEASES - Narrative (Det

FINANCE LEASES - Narrative (Details)		1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended							33 Months Ended
	Jun. 30, 2025 USD ($)	Apr. 30, 2015 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2022 USD ($) vessel contract	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($) contract vessel	Dec. 31, 2020 USD ($)	Dec. 31, 2015 USD ($) vessel	Jun. 30, 2025 USD ($)
Lessee, Lease, Description [Line Items]
Number of vessels under finance lease | vessel					7	7	7	7	7		8
Finance lease ROU impairment								$ 0	$ 0	$ 70,000,000
Weighted average discount rate (percent)					6.30%	6.30%	6.30%	6.30%	6.30%
Weighted average lease term					5 years 7 months 6 days	5 years 7 months 6 days	5 years 7 months 6 days	5 years 7 months 6 days	6 years 7 months 6 days
SFL
Lessee, Lease, Description [Line Items]
Number of finance leases | vessel							7
Daily time charter rate								$ 19,135
Number of vessels sold and leased back | vessel							8
Variable lease expense								600,000	$ 2,000,000	700,000
SFL | KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum
Lessee, Lease, Description [Line Items]
Number of operating leases						2	1		2
Daily time charter rate			$ 14,900								$ 14,900
Daily operating expense rate				$ 7,000							7,000
Profit share								3,000,000	$ 9,800,000	$ 37,900
Number of vessels sold and leased back | vessel							8
Total minimum lease period					13 years
Purchase option net of sellers credit		$ 112,000,000									112,000,000
Daily time charter rate extension		$ 14,900									$ 14,900
SFL | KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum | Charter Hire Expenses
Lessee, Lease, Description [Line Items]
Finance leases average daily rate								18,159
SFL | KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum | Forecast
Lessee, Lease, Description [Line Items]
Daily time charter rate	$ 14,900											$ 16,435
Ship Finance International Ltd
Lessee, Lease, Description [Line Items]
Purchase option net of sellers credit					$ 112,000,000	$ 112,000,000	$ 112,000,000	112,000,000
Charter term, extension					3 years
Daily time charter rate extension								$ 14,900

FINANCE LEASES - Right-of-Use F

FINANCE LEASES - Right-of-Use Finance Lease Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change In Right-Of-Use Finance Lease Assets [Roll Forward]
Vessel under capital leases, beginning balance	$ 98,535	$ 113,480
Additions	0	0
Depreciation	(14,946)	(14,945)
Impairment	0	0	$ (70,000)
Vessel under capital leases, ending balance	$ 83,589	$ 98,535	$ 113,480

FINANCE LEASES - Changes in Lea

FINANCE LEASES - Changes in Lease Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Changes In Finance Lease Liability [Roll Forward]
Beginning balance	$ 127,730	$ 151,205
Additions	0	0
Repayments	(29,059)	(32,237)
Interest expense on obligations under finance lease	7,304	8,762
Ending balance	105,975	127,730
Current portion	18,387	21,755
Non-current portion	$ 87,588	$ 105,975

FINANCE LEASES - Outstanding Ob

FINANCE LEASES - Outstanding Obligations Finance Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finance Lease, Liability, Payment, Due [Abstract]
2023	$ 24,484
2024	24,553
2025	22,551
2026	20,617
2027	20,617
Thereafter	12,320
Minimum lease payments	125,142
Less: imputed interest	(19,167)
Present value of obligations under finance leases	$ 105,975	$ 127,730	$ 151,205

VESSELS HELD FOR SALE (Details)

VESSELS HELD FOR SALE (Details) $ in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2022 USD ($)	Dec. 31, 2022 vessel
Property, Plant and Equipment [Abstract]
Proceeds from sale of vessels | $	$ 15.6
Number of vessels held for sale | vessel		0

EQUITY METHOD INVESTMENTS - Mov

EQUITY METHOD INVESTMENTS - Movement in Equity Method Investments (Details) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2023	Mar. 31, 2022	Jan. 31, 2020
Equity Method Investment [Roll Forward]
Beginning balance		$ 41,343,000
Distributions received from associated companies		(16,273,000)	$ 0	$ (450,000)
Ending balance		$ 65,400,000	$ 41,343,000
TFG Marine
Schedule of Equity Method Investments [Line Items]
Ownership percentage		10%	10%				10%
Equity Method Investment [Roll Forward]
Beginning balance		$ 0	$ 483,000
Share of income / (loss)		10,211,000	(483,000)
Distributions received from associated companies		0
Loss on disposal of equity method investments		0
Other		0
Ending balance		$ 10,211,000	$ 0	483,000
SwissMarine
Schedule of Equity Method Investments [Line Items]
Ownership percentage	17.50%	16.40%	17.50%			16.40%
Equity Method Investment [Roll Forward]
Beginning balance		$ 39,722,000	$ 15,371,000
Share of income / (loss)		22,434,000	24,351,000
Distributions received from associated companies		(9,828,000)
Loss on disposal of equity method investments		(891,000)
Other		0
Ending balance		$ 51,437,000	$ 39,722,000	15,371,000
SwissMarine | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Ownership percentage					15.90%
UFC
Schedule of Equity Method Investments [Line Items]
Ownership percentage		50%	50%
Equity Method Investment [Roll Forward]
Beginning balance		$ 1,618,000	$ 545,000
Share of income / (loss)		9,039,000	1,073,000
Distributions received from associated companies		(6,445,000)
Loss on disposal of equity method investments		0
Other		0
Ending balance		$ 4,212,000	$ 1,618,000	545,000
CCL
Schedule of Equity Method Investments [Line Items]
Ownership percentage		0%	25%
Ownership percentage sold	25%
Proceeds from sale of equity method investments	$ 17,500
Other Investments
Equity Method Investment [Roll Forward]
Beginning balance		$ 3,000	$ 0
Share of income / (loss)		0	3,000
Distributions received from associated companies		0
Loss on disposal of equity method investments		0
Other		(463,000)
Ending balance		(460,000)	3,000	0
Total
Equity Method Investment [Roll Forward]
Beginning balance		41,343,000	16,399,000
Share of income / (loss)		41,684,000	24,944,000
Distributions received from associated companies		(16,273,000)
Loss on disposal of equity method investments		(891,000)
Other		(463,000)
Ending balance		$ 65,400,000	$ 41,343,000	$ 16,399,000

EQUITY METHOD INVESTMENTS - Add

EQUITY METHOD INVESTMENTS - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	May 31, 2020	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Feb. 28, 2022	Jan. 31, 2020
Schedule of Equity Method Investments [Line Items]
Investments in associated companies			$ 65,400	$ 41,343
Dividends received from associated companies			16,273	0	$ 450
Cash dividends received from equity method investees			$ 16,300	$ 0	500
SwissMarine
Schedule of Equity Method Investments [Line Items]
Ownership percentage		16.40%	16.40%	17.50%		17.50%
Subordinated shareholder loan			$ 10,700
Debt term			5 years
Repayments of loans receivable from related party	$ 5,700	$ 5,600	$ 5,350
Investments in associated companies			51,437	$ 39,722	15,371
Dividends received from associated companies			$ 9,828
TFG Marine
Schedule of Equity Method Investments [Line Items]
Ownership percentage			10%	10%			10%
Subordinated shareholder loan							$ 1,000
Debt term			5 years
Balance outstanding of shareholders loan			$ 900
Investments in associated companies			10,211	$ 0	483
Dividends received from associated companies			$ 0
TFG Marine | London Interbank Offered Rate (LIBOR)
Schedule of Equity Method Investments [Line Items]
Variable interest rate			7%
UFC
Schedule of Equity Method Investments [Line Items]
Ownership percentage			50%	50%
Investments in associated companies			$ 4,212	$ 1,618	$ 545
Dividends received from associated companies			$ 6,445

DEBT - Summary of Debt (Details

DEBT - Summary of Debt (Details) - USD ($)	Dec. 31, 2022	May 31, 2022	Dec. 31, 2021	Aug. 31, 2021	Dec. 31, 2020	Nov. 30, 2020	Dec. 31, 2019	Nov. 30, 2019	May 31, 2019	Feb. 28, 2019	May 31, 2018	Jun. 30, 2014
Debt Instrument [Line Items]
Principal amount	$ 230,400,000
Long-term debt	1,131,506,000		$ 1,273,723,000
Deferred charges	(10,650,000)		(11,378,000)		$ (8,539,000)		$ (8,278,000)
Long-term Debt, Total	1,120,856,000		1,262,345,000		$ 1,045,483,000		$ 1,113,870,000
Current portion of long-term debt	(92,865,000)		(105,864,000)
Noncurrent portion	1,027,991,000		1,156,481,000
$275.0 million term loan and revolving facility
Debt Instrument [Line Items]
Principal amount	275,000,000	$ 275,000,000
Long-term debt	263,943,000		0
$304.0 million term loan and revolving facility
Debt Instrument [Line Items]
Principal amount	304,000,000					$ 304,000,000
Long-term debt	216,622,000		235,315,000
$93.75 million term loan
Debt Instrument [Line Items]
Principal amount	93,750,000								$ 93,750,000
Long-term debt	70,739,000		77,314,000
$131.79 million term loan
Debt Instrument [Line Items]
Principal amount	131,790,000								$ 131,790,000
Long-term debt	88,856,000		98,681,000
$155.3 million term loan
Debt Instrument [Line Items]
Principal amount	155,300,000							$ 155,300,000
Long-term debt	70,890,000		121,573,000
$120.0 million term loan
Debt Instrument [Line Items]
Principal amount	120,000,000										$ 120,000,000
Long-term debt	63,545,000		81,071,000
$420.0 million term loan
Debt Instrument [Line Items]
Principal amount	420,000,000	$ 420,000,000								$ 420,000,000		$ 420,000,000
Long-term debt	0		280,387,000
$260.0 million lease financing
Debt Instrument [Line Items]
Principal amount	260,000,000			$ 260,000,000
Long-term debt	244,524,000		256,905,000
$175.0 million term loan and revolving facility
Debt Instrument [Line Items]
Principal amount	175,000,000			$ 175,000,000
Long-term debt	$ 112,387,000		$ 122,477,000

DEBT - Summary of Movements in

DEBT - Summary of Movements in Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movement In Debt Balance [Roll Forward]
Long term debt, beginning balance	$ 1,273,723
Deferred charges, beginning balance	(11,378)	$ (8,539)	$ (8,278)
Total, beginning balance	1,262,345	1,045,483	1,113,870
Loan repayments	(417,217)	(628,900)	(390,138)
Repayment of debt issuance cost	0	0	0
Loan draw downs	275,000	848,601	322,012
Proceeds from debt issuance cost	0	0	0
Capitalization of debt issuance cost, net of amortization		(2,839)	(261)
Capitalized financing fees and expenses	(2,890)
Amortization of debt issuance cost	3,618	2,677	2,778
Long term debt, ending balance	1,131,506	1,273,723
Deferred charges, ending balance	(10,650)	(11,378)	(8,539)
Total, ending balance	1,120,856	1,262,345	1,045,483
Secured Debt
Movement In Debt Balance [Roll Forward]
Long term debt, beginning balance	1,273,723	1,054,022	1,122,148
Loan repayments	(417,217)	(628,900)	(390,138)
Loan draw downs	275,000	848,601	322,012
Long term debt, ending balance	$ 1,131,506	$ 1,273,723	$ 1,054,022

DEBT - Loan Facilities Addition

DEBT - Loan Facilities Additional Information (Details)

1 Months Ended

12 Months Ended

25 Months Ended

37 Months Ended

Mar. 01, 2023

Nov. 30, 2020 USD ($) financial_institution vessel

May 31, 2022 USD ($) vessel

Aug. 31, 2021 USD ($) newbuilding vessel

Nov. 30, 2020 USD ($) financial_institution vessel

Nov. 30, 2019 USD ($) vessel

May 31, 2019 USD ($)

Feb. 28, 2019 USD ($) vessel

May 31, 2018 USD ($) vessel

Jan. 31, 2016 USD ($)

Feb. 28, 2015 USD ($) vessel

Jun. 30, 2014 USD ($) tranche vessel

Dec. 31, 2022 USD ($) vessel

Dec. 31, 2021 USD ($) vessel

Dec. 31, 2020 USD ($)

Jan. 31, 2023 USD ($)

Feb. 28, 2021 USD ($)

Dec. 31, 2019 USD ($)

Debt Instrument [Line Items]

Principal amount

$ 230,400,000

Number of vessels serving as security | vessel

74

81

Repayments of long-term debt

$ 417,217,000

$ 628,900,000

$ 390,138,000

Number of vessels sold and leased back | vessel

9

Number of newbuilding sold and leased back | newbuilding

3

Lease term

7 years

Adjusted profile term

21 years

Loan repayments

$ 417,217,000

628,900,000

390,138,000

Number of vessels with commitment to install scrubbers | vessel

3

Long term debt

$ 1,120,856,000

1,262,345,000

1,045,483,000

$ 1,113,870,000

Dry Bulk Carriers | Hemen Holdings Ltd

Debt Instrument [Line Items]

Debt assumed

$ 413,600,000

$275.0 million term loan and revolving facility

Debt Instrument [Line Items]

Principal amount

$ 275,000,000

275,000,000

Number of vessels serving as security | vessel

14

Balloon payment

$ 170,000,000

Repayments of long-term debt

11,100,000

Remaining borrowing capacity

0

$275.0 million term loan and revolving facility | Term Loan

Debt Instrument [Line Items]

Principal amount

225,000,000

$275.0 million term loan and revolving facility | Revolving Credit Facility

Debt Instrument [Line Items]

Principal amount

50,000,000

$420.0 million term loan

Debt Instrument [Line Items]

Principal amount

$ 420,000,000

$ 420,000,000

$ 420,000,000

420,000,000

Number of vessels financed | vessel

14

14

Loan repayments

280,400,000

29,600,000

Number of tranches | tranche

14

Debt instrument, value per tranche, value

$ 30,000,000

Payment terms

20 years

Periodic payments

$ 5,200,000

Debt refinance extension term

3 years

Number of vessels with commitment to install scrubbers | vessel

11

Scrubber installation finance cost

$ 3,000,000

Scrubber installation repayment period

3 years

$175.0 million term loan and revolving facility

Debt Instrument [Line Items]

Principal amount

$ 175,000,000

175,000,000

Balloon payment

$ 77,100,000

Repayments of long-term debt

10,100,000

2,500,000

Remaining borrowing capacity

50,000,000

Number of vessels financed | vessel

6

Tenor term

5 years

Adjusted profile term

19 years

$50 Million Revolving Credit Tranche Of $175 Term Loan Facility

Debt Instrument [Line Items]

Principal amount

$ 50,000,000

Repayments of long-term debt

50,000,000

$260.0 million lease financing

Debt Instrument [Line Items]

Principal amount

$ 260,000,000

260,000,000

Repayments of long-term debt

12,400,000

3,100,000

Remaining borrowing capacity

0

$304.0 million term loan and revolving facility

Debt Instrument [Line Items]

Principal amount

$ 304,000,000

$ 304,000,000

304,000,000

Number of vessels serving as security | vessel

14

14

Repayments of long-term debt

18,700,000

18,700,000

Remaining borrowing capacity

50,000,000

Number of financial institutions | financial_institution

6

6

Number of financial institutions under previous agreement | financial_institution

5

5

Term Loan Facility $254 Million

Debt Instrument [Line Items]

Principal amount

$ 254,000,000

$ 254,000,000

Balloon payment

$ 165,200,000

165,200,000

Tenor term

5 years

Adjusted profile term

20 years

Revolving Credit Facility $50 Million

Debt Instrument [Line Items]

Principal amount

$ 50,000,000

50,000,000

Repayments of long-term debt

50,000,000

$425.0 Term Loan Facility

Debt Instrument [Line Items]

Principal amount

425,000,000

425,000,000

$ 425,000,000

Number of vessels financed | vessel

14

Loan repayments

$ 322,500,000

Long term debt

$ 425,000,000

425,000,000

$93.75 million term loan

Debt Instrument [Line Items]

Principal amount

$ 93,750,000

93,750,000

Balloon payment

$ 62,500,000

Tenor term

5 years

Adjusted profile term

19 years

Loan repayments

6,600,000

6,600,000

Term loan facility, amount available, undrawn

0

$250.0M Credit Facility | Subsequent Event

Debt Instrument [Line Items]

Principal amount

$ 250,000,000

$131.79 million term loan

Debt Instrument [Line Items]

Principal amount

$ 131,790,000

131,790,000

Balloon payment

$ 76,600,000

Tenor term

5 years

Adjusted profile term

19 years

Loan repayments

9,800,000

15,400,000

Term loan facility, amount available, undrawn

0

$155.3 million term loan

Debt Instrument [Line Items]

Principal amount

$ 155,300,000

155,300,000

Balloon payment

56,500,000

Loan repayments

50,700,000

20,800,000

Term loan facility, amount available, undrawn

0

$155.3 million term loan | Golden Endeavour, Golden Empress, Golden Enterprise, Golden Cecilie, and Golden Cathrine

Debt Instrument [Line Items]

Loan repayments

41,100,000

$284 Term Loan Facility

Debt Instrument [Line Items]

Principal amount

$ 284,000,000

Number of vessels financed | vessel

15

Loan repayments

$ 155,400,000

$120.0 million term loan

Debt Instrument [Line Items]

Principal amount

$ 120,000,000

120,000,000

Balloon payment

$ 52,400,000

Number of vessels financed | vessel

10

Loan repayments

17,500,000

$ 18,600,000

Term loan facility, amount available, undrawn

0

$120.0 million term loan | Golden Ice and Golden Strength

Debt Instrument [Line Items]

Loan repayments

$ 11,400,000

$33.9 Term Loan Facility

Debt Instrument [Line Items]

Principal amount

$ 34,000,000

Loan repayments

58,300,000

$82.5 Term Loan Facility

Debt Instrument [Line Items]

Principal amount

82,500,000

Other Debt Obligations

Debt Instrument [Line Items]

Principal amount

$ 65,500,000

$304.0 Term Loan Facility

Debt Instrument [Line Items]

Proceeds from lines of credit

$ 304,000,000

Secured Overnight Financing Rate (SOFR) | Subsequent Event

Debt Instrument [Line Items]

Variable interest rate

1.90%

Secured Overnight Financing Rate (SOFR) | $275.0 million term loan and revolving facility

Debt Instrument [Line Items]

Variable interest rate

1.90%

Secured Overnight Financing Rate (SOFR) | $250.0M Credit Facility | Subsequent Event

Debt Instrument [Line Items]

Variable interest rate

1.85%

London Interbank Offered Rate (LIBOR) | $420.0 million term loan

Debt Instrument [Line Items]

Variable interest rate

2.50%

2.50%

London Interbank Offered Rate (LIBOR) | $175.0 million term loan and revolving facility

Debt Instrument [Line Items]

Variable interest rate

1.90%

London Interbank Offered Rate (LIBOR) | $260.0 million lease financing

Debt Instrument [Line Items]

Variable interest rate

2%

London Interbank Offered Rate (LIBOR) | Term Loan Facility $254 Million

Debt Instrument [Line Items]

Variable interest rate

2.35%

London Interbank Offered Rate (LIBOR) | $425.0 Term Loan Facility

Debt Instrument [Line Items]

Variable interest rate

2.20%

London Interbank Offered Rate (LIBOR) | $93.75 million term loan

Debt Instrument [Line Items]

Variable interest rate

2.15%

London Interbank Offered Rate (LIBOR) | $131.79 million term loan

Debt Instrument [Line Items]

Variable interest rate

2.10%

London Interbank Offered Rate (LIBOR) | $155.3 million term loan

Debt Instrument [Line Items]

Variable interest rate

2.10%

London Interbank Offered Rate (LIBOR) | $120.0 million term loan

Debt Instrument [Line Items]

Variable interest rate

2.25%

DEBT - Financial Covenants Addi

DEBT - Financial Covenants Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	May 31, 2022	Dec. 31, 2021	Aug. 31, 2021
Debt Instrument [Line Items]
Minimum value percentage	135%
Principal amount	$ 230,400,000
Minimum cash requirement	$ 20,000,000
Minimum cash requirement percentage	5%
Market adjusted equity	25%
Restricted cash	$ 61,300,000		$ 69,500,000
$175.0 million term loan and revolving facility
Debt Instrument [Line Items]
Principal amount	175,000,000			$ 175,000,000
$275.0 million term loan and revolving facility
Debt Instrument [Line Items]
Principal amount	$ 275,000,000	$ 275,000,000
$175.0M And $275.0M Loan And Revolving Facility
Debt Instrument [Line Items]
Minimum value percentage	130%
$260.0 million lease financing
Debt Instrument [Line Items]
Minimum value percentage	115%
Principal amount	$ 260,000,000			$ 260,000,000

DEBT - Deferred Charges Additio

DEBT - Deferred Charges Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Deferred charges	$ 10.7	$ 11.4

DEBT - Summary of Debt Maturiti

DEBT - Summary of Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2023	$ 92,865
2024	274,101
2025	277,443
2026	116,610
2027	187,870
Thereafter	182,617
Total	1,131,506	$ 1,273,723
Deferred charges	(10,650)	(11,378)	$ (8,539)	$ (8,278)
Long-term Debt, Total	$ 1,120,856	$ 1,262,345	$ 1,045,483	$ 1,113,870

DEBT - Assets Pledged and Weigh

DEBT - Assets Pledged and Weighted Average Interest Rate Additional Information (Details) $ in Thousands	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($) vessel
Debt Instrument [Line Items]
Number of vessels serving as security | vessel	74	81
Vessels and equipment, net	$ 2,665,785	$ 2,880,321
Weighted average interest rate	2.01%	2.21%
Collateral Pledged
Debt Instrument [Line Items]
Vessels and equipment, net	$ 2,665,800	$ 2,880,300

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Voyage expenses	$ 18,197	$ 11,204
Ship operating expenses	16,106	17,968
Administrative expenses	3,682	4,570
Tax expenses	381	394
Interest expenses	5,022	4,433
Total accrued expenses	$ 43,388	$ 38,569

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Deferred charter revenue	$ 29,153	$ 34,626
Payroll and employee tax	653	654
Bunker obligations on time charter out contracts	3,652	1,523
Other current liabilities	36	462
Total other current liabilities	$ 33,494	$ 37,265

DERIVATIVE INSTRUMENTS PAYABL_3

DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Asset Derivatives - Fair Value	$ 33,123	$ 2,679
Liability Derivatives - Fair Value	1,313	10,364
Gain (loss) on derivatives	39,968	30,465	$ (17,450)
Interest rate swaps
Derivative [Line Items]
Asset Derivatives - Fair Value	32,858	2,608
Liability Derivatives - Fair Value	0	10,364
Interest income (expense)	(466)	(8,349)	(5,030)
Unrealized fair value gain (loss)	40,614	19,802	(19,868)
Foreign currency swaps
Derivative [Line Items]
Asset Derivatives - Fair Value	0	71
Liability Derivatives - Fair Value	10	0
Unrealized fair value gain (loss)	113	(257)	519
Realized gain (loss)	(194)	60	71
Bunker derivatives
Derivative [Line Items]
Asset Derivatives - Fair Value	265	0
Liability Derivatives - Fair Value	1,303	0
Unrealized fair value gain (loss)	(1,038)	(170)	157
Realized gain (loss)	1,518	410	(2,193)
Forward freight agreements
Derivative [Line Items]
Asset Derivatives - Fair Value	0	0
Liability Derivatives - Fair Value	0	0
Realized gain (loss)	(579)	18,969	10,207
Options	$ 0	$ 0	$ (1,313)

SHARE CAPITAL, TREASURY SHARE_3

SHARE CAPITAL, TREASURY SHARES AND DIVIDENDS - Summary of Authorized Capital (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Common stock, shares, authorized (in shares)	300,000,000	300,000,000	300,000,000	200,000,000
Share capital, par value (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05
Common stock, value, authorized	$ 15,000,000	$ 15,000,000	$ 15,000,000	$ 10,000,000

SHARE CAPITAL, TREASURY SHARE_4

SHARE CAPITAL, TREASURY SHARES AND DIVIDENDS - Additional Information (Details) kr / shares in Units, $ / shares in Units, kr in Millions	1 Months Ended					12 Months Ended
	May 31, 2022 shares	May 31, 2021 USD ($) shares	May 31, 2021 NOK (kr) kr / shares shares	Feb. 28, 2021 USD ($) shares	Feb. 28, 2021 NOK (kr) kr / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) $ / shares shares
Class of Stock [Line Items]
Common stock, value, authorized | $						$ 15,000,000	$ 15,000,000	$ 10,000,000	$ 15,000,000
Common stock, shares, authorized (in shares)						300,000,000	300,000,000	200,000,000	300,000,000
Share capital, par value (in dollars per share) | $ / shares						$ 0.05	$ 0.05	$ 0.05	$ 0.05
Treasury shares acquired (in shares)						400,000	0	0
Treasury stock, purchase price | $						$ 3,273,000	$ 0	$ 0
Treasury shares held (in shares)						705,000	755,000	945,000
Exercised (in shares)	450,000					450,000	190,000
Net proceeds from share issuance | $						$ 0	$ 352,225,000	$ 0
Dividends to shareholders | $						$ 471,700,000	$ 320,700,000	$ 7,200,000
Dividends per share (in dollars per share) | $ / shares						$ 2.35	$ 1.60	$ 0.05
Share capital, shares outstanding (in shares)						200,485,621	200,435,621	143,327,697
2022 Share Buy-Back Program
Class of Stock [Line Items]
Treasury shares held (in shares)						400,000
2019 Share Buy-Back Program
Class of Stock [Line Items]
Treasury shares held (in shares)						305,000
2016 Share Option Scheme
Class of Stock [Line Items]
Shares issued for equity incentive plan (in shares)							190,000
Repurchases of shares | $							$ 400,000
Private Placement
Class of Stock [Line Items]
Net proceeds from share issuance		$ 16,900,000	kr 143.6	$ 338,000,000	kr 2,873
Shares issued (in shares)		2,710,377	2,710,377	54,207,547	54,207,547
Sale of stock, price (NOK per share) | kr / shares			kr 53		kr 53
Consideration received on sale of stock | $		$ 16,900,000		$ 335,300,000
Private Placement | Hemen Holdings Ltd
Class of Stock [Line Items]
Shares issued (in shares)				27,103,773	27,103,773
Consideration received on sale of stock | $				$ 169,000,000
Contributed capital surplus
Class of Stock [Line Items]
Reclassified from additional paid in capital | $						$ 0	350,671,000	$ 0
Accumulated earnings (deficit)
Class of Stock [Line Items]
Loss on treasury shares distributed | $						$ 1,740,000	$ 441,000	$ 115,000

SHARE CAPITAL, TREASURY SHARE_5

SHARE CAPITAL, TREASURY SHARES AND DIVIDENDS - Summary of Share Capital (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Class of Stock [Line Items]
Share capital, par value (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05
Increase (Decrease) In Share Capital, Shares Issued [Roll Forward]
Issued shares: Balance at start of year (in shares)	201,190,621
Issued shares: Balance at end of year (in shares)	201,190,621	201,190,621
Increase (Decrease) In Share Capital, Shares Outstanding [Roll Forward]
Outstanding number of shares: Balance at beginning of year (in shares)	200,435,621	143,327,697
Outstanding number of shares: Balance at end of year (in shares)	200,485,621	200,435,621	143,327,697
2016 Share Option Scheme
Increase (Decrease) In Share Capital, Shares Issued [Roll Forward]
Settlement of options (in shares)		190,000
Share capital
Increase (Decrease) In Share Capital, Shares Issued [Roll Forward]
Issued shares: Balance at start of year (in shares)	201,190,621	144,272,697	144,272,697
Shares issued (in shares)	0	56,917,924	0
Issued shares: Balance at end of year (in shares)	201,190,621	201,190,621	144,272,697
Increase (Decrease) In Share Capital, Shares Outstanding [Roll Forward]
Outstanding number of shares: Balance at beginning of year (in shares)	200,435,621	143,327,697	143,277,697
Shares issued (in shares)	0	56,917,924	0
Repurchases of shares (in shares)	(400,000)	0	0
Distribution of treasury shares (in shares)	450,000	190,000	50,000
Outstanding number of shares: Balance at end of year (in shares)	200,485,621	200,435,621	143,327,697
Share capital | 2016 Share Option Scheme
Increase (Decrease) In Share Capital, Shares Issued [Roll Forward]
Settlement of options (in shares)	0	0	0
Share capital | Hemen Holdings Ltd
Increase (Decrease) In Share Capital, Shares Issued [Roll Forward]
Issue of consideration shares to Hemen (in shares)	0	0	0

SHARE OPTIONS - Additional Info

SHARE OPTIONS - Additional Information (Details) - USD ($)					1 Months Ended		12 Months Ended
	Nov. 11, 2020	Sep. 14, 2020	Apr. 24, 2020	Nov. 10, 2016	May 31, 2022	Nov. 30, 2016	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of share options	$ 400,000	$ 400,000	$ 800,000
Amount outstanding for options vested							$ 150,000	$ 300,000
Share based compensation cost							$ 600,000	$ 600,000
Exercised (in shares)					450,000		450,000	190,000
Compensation costs not yet recognized							$ 300,000	$ 900,000
2016 Share Option Scheme | Share Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of scheme						10 years
Term of share options	5 years	5 years	5 years	5 years
Vesting period	3 years	3 years		3 years
Vesting rate				33.33%
2016 Share Option Scheme | Share Option | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate						33.33%
2016 Share Option Scheme | Share Option | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate						33.33%
2016 Share Option Scheme | Share Option | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate						33.33%
Senior Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercised (in shares)							450,000	100,000
Share Option | Chief Executive Officer | 2016 Share Option Scheme
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share options approved for issuance to senior management (in shares)			550,000
Vesting period			3 years
Share Option | Chief Financial Officer | 2016 Share Option Scheme
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share options approved for issuance to senior management (in shares)		275,000
Share Option | Chief Commercial Officer | 2016 Share Option Scheme
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share options approved for issuance to senior management (in shares)	275,000
Share Option | Senior Management | 2016 Share Option Scheme
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share options approved for issuance to senior management (in shares)				700,000
Exercise price (in dollars per share)				$ 4.20

SHARE OPTIONS - Summary of 2020

SHARE OPTIONS - Summary of 2020 Awards (Details)	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Nov. 11, 2020 kr / shares shares	Sep. 14, 2020 kr / shares shares	Apr. 24, 2020 kr / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)	150,000	300,000
Share price (krone per share) | $ / shares	$ 4.84	$ 3.80
Share-based Payment Arrangement, Tranche One | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)					150,000
Share price (krone per share) | kr / shares					kr 35
Share-based Payment Arrangement, Tranche One | Chief Financial Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)				75,000
Share price (krone per share) | kr / shares				kr 32
Share-based Payment Arrangement, Tranche One | Chief Commercial Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)			75,000
Share price (krone per share) | kr / shares			kr 33
Share-based Payment Arrangement, Tranche Two | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)					150,000
Share price (krone per share) | kr / shares					kr 52.50
Share-based Payment Arrangement, Tranche Two | Chief Financial Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)				75,000
Share price (krone per share) | kr / shares				kr 48
Share-based Payment Arrangement, Tranche Two | Chief Commercial Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)			75,000
Share price (krone per share) | kr / shares			kr 49.50
Share-based Payment Arrangement, Tranche Three | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)					250,000
Share price (krone per share) | kr / shares					kr 70
Share-based Payment Arrangement, Tranche Three | Chief Financial Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)				125,000
Share price (krone per share) | kr / shares				kr 64
Share-based Payment Arrangement, Tranche Three | Chief Commercial Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding and Exercisable, Number of options (in shares)			125,000
Share price (krone per share) | kr / shares			kr 66

SHARE OPTIONS - Summary of Assu

SHARE OPTIONS - Summary of Assumptions for Share Options (Details) - Stock Compensation Plan - 2016 Share Option Scheme	Nov. 11, 2020	Sep. 14, 2020	Apr. 24, 2020	Nov. 10, 2016
November 10, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term				5 years
Expected volatility				71%
Risk-free rate				155%
April 24, 2020 | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term			5 years
Expected volatility			61%
Risk-free rate			27%
September 14, 2020 | Chief Financial Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term		5 years
Expected volatility		62%
Risk-free rate		27%
November 11, 2020 | Chief Commercial Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	5 years
Expected volatility	61%
Risk-free rate	40%

SHARE OPTIONS - Summary of Numb

SHARE OPTIONS - Summary of Number of Share Options Outstanding (Details) - $ / shares	1 Months Ended	12 Months Ended
	May 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Number of Options
Total Outstanding (in shares)		1,100,000	1,290,000
Granted (in shares)		0	0
Exercised (in shares)	450,000	450,000	190,000
Forfeited (in shares)		0	0
Exercisable (in shares)		150,000	300,000
Outstanding - Unvested (in shares)		500,000	800,000
Total Oustanding (in shares)		650,000	1,100,000
Weighted Average Exercise Price
Total Outstanding (in dollars per share)		$ 6.04	$ 5.17
Granted (in dollars per share)		0	0
Exercised (in dollars per share)		3.97	3.35
Forfeited (in dollars per share)		0	0
Exercisable (in dollars per share)		4.84	3.80
Outstanding - Unvested (in dollars per share)		6.70	6.88
Total Outstanding (in dollars per share)		6.27	6.04
Weighted Average Grant date Fair Value
Outstanding (in dollars per share)		1.76	1.63
Granted (in dollars per share)		0	0
Exercised (in dollars per share)		1.77	2.47
Forfeited (in dollars per share)		0	0
Exercisable (in dollars per share)		1.39	2.06
Outstanding - Unvested (in dollars per share)		1.25	1.65
Outstanding (in dollars per share)		$ 1.28	$ 1.76
Management
Number of Options
Total Outstanding (in shares)		1,100,000	1,200,000
Granted (in shares)		0	0
Exercised (in shares)		450,000	100,000
Forfeited (in shares)		0	0
Exercisable (in shares)		150,000	300,000
Outstanding - Unvested (in shares)		500,000	800,000
Total Oustanding (in shares)		650,000	1,100,000

SHARE OPTIONS - Summary of Shar

SHARE OPTIONS - Summary of Share Options Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Weighted Average Exercise Price of Outstanding Options (in dollars per share)	$ 6.70	$ 6.88
Outstanding - Unvested (in shares)	500,000	800,000
Weighted Average Exercise Price (in dollars per share)	$ 6.70	$ 6.88
Options Outstanding and Unvested, Weighted Average Remaining Contractual Life	2 years 6 months 18 days	3 years 6 months 18 days
Options Outstanding and Exercisable, Number of options (in shares)	150,000	300,000
Options Outstanding and Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.84	$ 3.80
Options Outstanding and Exercisable, Weighted Average Remaining Contractual Life	2 years 9 months 14 days	3 years 6 months 18 days

RELATED PARTY TRANSACTIONS - Sh

RELATED PARTY TRANSACTIONS - Ship Finance Limited (Details)	1 Months Ended		6 Months Ended	12 Months Ended
	Aug. 31, 2021 vessel	Apr. 30, 2015 USD ($) vessel	Jun. 30, 2021 USD ($) vessel	Dec. 31, 2022 vessel	Dec. 31, 2021 vessel	Dec. 31, 2020 USD ($) vessel	Dec. 31, 2019 USD ($) vessel	Dec. 31, 2015 USD ($) vessel
Related Party Transaction [Line Items]
Number of vessels sold and leased back | vessel	9
SFL
Related Party Transaction [Line Items]
Number of vessels sold and leased back | vessel				1	1
SFL | Dry Bulk Carriers
Related Party Transaction [Line Items]
Number of vessels under commercial management | vessel			8			9
Commercial management fee revenue per day for first seven dry bulk vessels | $			$ 125
Number of vessels for which management fee is $125 dollars per day | vessel			4			4
Commercial management fee revenue, rate 2 | $			$ 75			$ 75
Number of vessels for which management fee is $75 dollars per day | vessel			3			3
Commercial management fee revenue, rate 3 | $			$ 37.5			$ 37.5
Commercial management fee revenue per day for managing vessels | $						$ 125
Number of vessels for which management fee is $37.5 dollars per day | vessel			1			2
SFL | Container Carriers
Related Party Transaction [Line Items]
Number of vessels under commercial management | vessel			16			16	14
Commercial management fee revenue per day for managing vessels | $			$ 75			$ 75	$ 75
SFL | KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum
Related Party Transaction [Line Items]
Number of vessels sold and leased back | vessel		8		8				8
Aggregate price sold en-bloc | $		$ 272,000,000
Duration of time charter		10 years
Purchase option net of sellers credit | $		$ 112,000,000						$ 112,000,000
Purchase option timing from lease inception		10 years
Charter term extension		3 years						3 years
Daily time charter rate extension | $		$ 14,900						$ 14,900

RELATED PARTY TRANSACTIONS - Se

RELATED PARTY TRANSACTIONS - Seatankers, Capesize Chartering, and United Freight Carriers (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($) vessel	Dec. 31, 2020 USD ($)
CCL
Related Party Transaction [Line Items]
Number of vessels acquired		34
Dry Bulk Carriers | Seatankers
Related Party Transaction [Line Items]
Number of vessels under commercial management	10	12
Commercial management fee revenue per day for managing vessels | $	$ 125	$ 125	$ 125

RELATED PARTY TRANSACTIONS - Sw

RELATED PARTY TRANSACTIONS - Swiss Marine (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	May 31, 2020	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Related party receivables			$ 2,334,000	$ 8,615,000
Shareholder loan			2,334,000	8,615,000
Revenue from related parties			2,615,000	14,656,000	$ 24,454,000
SwissMarine
Related Party Transaction [Line Items]
Repayments of loans receivable from related party	$ 5,700,000	$ 5,600,000	5,350,000
Proceeds from repayments of shareholder loan, principal	5,350,000	5,350,000
Proceeds from repayments of shareholder loan, interest	$ 300,000	$ 200,000
SwissMarine
Related Party Transaction [Line Items]
Subordinated shareholder loan, term						5 years
Shareholder loan			0	281,000
Revenue from related parties			$ 2,033,000	$ 13,281,000	$ 19,528,000
SwissMarine | London Interbank Offered Rate (LIBOR)
Related Party Transaction [Line Items]
Spread on variable rate (percent)						2%
SwissMarine | Shareholder Loan
Related Party Transaction [Line Items]
Related party receivables						$ 10,700,000

RELATED PARTY TRANSACTIONS - TF

RELATED PARTY TRANSACTIONS - TFG Marine (Details) - USD ($)	1 Months Ended	12 Months Ended
	May 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 31, 2020
Related Party Transaction [Line Items]
Shareholder loan		$ 2,334,000	$ 8,615,000
Related party payables		9,492,000	13,934,000
Performance Guarantee
Related Party Transaction [Line Items]
Maximum liability under this guarantee		4,000,000
Amount payable under guarantee		0
TFG Marine
Related Party Transaction [Line Items]
Shareholder loan				$ 900,000	$ 1,000,000
Shareholder loan converted to equity				$ 75,000
Subordinated shareholder loan, term				5 years
Related party payables		9,219,000	6,563,000
TFG Marine | Bunker Procurement
Related Party Transaction [Line Items]
Guarantee issued in respect of subsidiary performance under bunker supply agreement		202,000,000	174,300,000
Related party payables		$ 9,200,000	$ 6,600,000
TFG Marine | Bunker Supply Agreement Guarantee
Related Party Transaction [Line Items]
Guarantee issued in respect of subsidiary performance under bunker supply agreement	$ 30,000,000			$ 20,000,000
TFG Marine | London Interbank Offered Rate (LIBOR)
Related Party Transaction [Line Items]
Spread on variable rate (percent)				7%

RELATED PARTY TRANSACTIONS - Ma

RELATED PARTY TRANSACTIONS - Management Agreements (Details) - $ / vessel	1 Months Ended	12 Months Ended
	Oct. 31, 2020	Dec. 31, 2022	Dec. 31, 2021
Frontline
Related Party Transaction [Line Items]
Management fee to be paid per annum		26,714	27,375
Seateam
Related Party Transaction [Line Items]
Equity method ownership percentage sold	22.19%

RELATED PARTY TRANSACTIONS - Ac

RELATED PARTY TRANSACTIONS - Acquisition of Vessels From Affiliates of Hemen (Details) $ in Millions	1 Months Ended	12 Months Ended	37 Months Ended
	Feb. 28, 2021 USD ($) vessel	Dec. 31, 2021 USD ($) vessel newbuilding	Feb. 28, 2021 vessel
Golden Spray, Golden Fast and Golden Furious
Related Party Transaction [Line Items]
Number of newbuildings acquired | vessel		3
Hemen Holdings Ltd
Related Party Transaction [Line Items]
Tenor period	18 months
Debt term	17 years		17 years
Number of newbuildings acquired | newbuilding		3
Hemen Holdings Ltd | Golden Spray, Golden Fast and Golden Furious
Related Party Transaction [Line Items]
Number of newbuildings acquired | vessel	3		3
Hemen Holdings Ltd | Dry Bulk Carriers
Related Party Transaction [Line Items]
Debt assumed | $	$ 413.6	$ 413.6
Debt assumed, in cash | $	63	$ 63
Debt assumed, sellers credit | $	$ 350.6
Number of vessels acquired under heads of agreement | vessel	15		15
Hemen Holdings Ltd | Dry Bulk Carriers | London Interbank Offered Rate (LIBOR) | Minimum
Related Party Transaction [Line Items]
Variable interest rate	2.35%
Hemen Holdings Ltd | Dry Bulk Carriers | London Interbank Offered Rate (LIBOR) | Maximum
Related Party Transaction [Line Items]
Variable interest rate	4.70%

RELATED PARTY TRANSACTIONS - Su

RELATED PARTY TRANSACTIONS - Summary of Net Amounts Charged By Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Net amounts charged by related parties	$ 45,748	$ 77,088	$ 76,205
Frontline
Related Party Transaction [Line Items]
Net amounts charged by related parties	3,902	4,171	3,216
SFL
Related Party Transaction [Line Items]
Net amounts charged by related parties	30,914	42,911	38,459
Seateam
Related Party Transaction [Line Items]
Net amounts charged by related parties	0	0	2,552
Seatankers
Related Party Transaction [Line Items]
Net amounts charged by related parties	8,756	27,978	31,955
CCL
Related Party Transaction [Line Items]
Net amounts charged by related parties	395	2,028	23
Front Ocean Management AS
Related Party Transaction [Line Items]
Net amounts charged by related parties	$ 1,781	$ 0	$ 0

RELATED PARTY TRANSACTIONS - _2

RELATED PARTY TRANSACTIONS - Summary of Net Amounts Charged To Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Net amounts charged to related parties	$ 2,615	$ 14,656	$ 24,454
Frontline
Related Party Transaction [Line Items]
Net amounts charged to related parties	0	52	0
SFL
Related Party Transaction [Line Items]
Net amounts charged to related parties	96	468	957
Seatankers
Related Party Transaction [Line Items]
Net amounts charged to related parties	486	817	954
Northern Drilling
Related Party Transaction [Line Items]
Net amounts charged to related parties	0	38	50
SwissMarine
Related Party Transaction [Line Items]
Net amounts charged to related parties	2,033	13,281	19,528
CCL
Related Party Transaction [Line Items]
Net amounts charged to related parties	$ 0	$ 0	$ 2,965

RELATED PARTY TRANSACTIONS - _3

RELATED PARTY TRANSACTIONS - Summary of Related Parties Income/ (Expense) Amounts Included Into Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Time charter revenues	$ 2,615	$ 14,656	$ 24,454
Other revenues	582	1,375	1,961
Other operating income (expenses)	(413)	(2,008)	2,965
Ship operating expenses	(4,916)	(9,313)	(11,574)
Charter hire expenses	(37,328)	(60,885)	(63,468)
Administrative expenses	(2,636)	(1,487)	(1,163)
Interest on credit facilities	0	(3,395)	0
Income (loss) from related party transaction	(42,678)	(62,432)	(51,751)
Technical supervision and other costs	500
Time charter revenues
Related Party Transaction [Line Items]
Time charter revenues	$ 2,033	$ 13,281	$ 19,528

RELATED PARTY TRANSACTIONS - _4

RELATED PARTY TRANSACTIONS - Summary of Balances Due From Related Parties (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Due from related parties	$ 2,334,000	$ 8,615,000
Frontline
Related Party Transaction [Line Items]
Due from related parties	1,506,000	2,604,000
UFC
Related Party Transaction [Line Items]
Due from related parties	497,000	0
SwissMarine
Related Party Transaction [Line Items]
Due from related parties	0	281,000
Seatankers
Related Party Transaction [Line Items]
Due from related parties	352,000	5,751,000
Credit loss allowance
Related Party Transaction [Line Items]
Due from related parties	$ 21,000	$ 21,000

RELATED PARTY TRANSACTIONS - _5

RELATED PARTY TRANSACTIONS - Summary of Short-Term Balance Due to Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Short-term balances due to related parties	$ 9,492	$ 13,934
CCL
Related Party Transaction [Line Items]
Short-term balances due to related parties	40	2,378
TFG Marine
Related Party Transaction [Line Items]
Short-term balances due to related parties	9,219	6,563
Other
Related Party Transaction [Line Items]
Short-term balances due to related parties	$ 233	$ 4,993

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details) - vessel	1 Months Ended		12 Months Ended
	Aug. 31, 2021	Apr. 30, 2015	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2015
Related Party Transaction [Line Items]
Number of vessels sold and leased back	9
SFL
Related Party Transaction [Line Items]
Number of vessels sold and leased back			1	1
SFL | KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum
Related Party Transaction [Line Items]
Number of vessels sold and leased back		8	8		8

FINANCIAL ASSETS AND LIABILIT_3

FINANCIAL ASSETS AND LIABILITIES - Interest Rate Risk Management (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Interest rate swaps
Derivative [Line Items]
Notional Amount	$ 500,000	$ 500,000
Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional Amount	500,000
Designated as Hedging Instrument | 2.41% Interest rate swap
Derivative [Line Items]
Notional Amount	$ 50,000
Fixed Interest Rate	2.41%
Designated as Hedging Instrument | 2.58% Interest rate swap
Derivative [Line Items]
Notional Amount	$ 50,000
Fixed Interest Rate	2.58%
Designated as Hedging Instrument | 1.39% Interest rate swap
Derivative [Line Items]
Notional Amount	$ 50,000
Fixed Interest Rate	1.39%
Designated as Hedging Instrument | 1.29% Interest rate swap
Derivative [Line Items]
Notional Amount	$ 50,000
Fixed Interest Rate	1.29%
Designated as Hedging Instrument | 2.51% Interest rate swap
Derivative [Line Items]
Notional Amount	$ 100,000
Fixed Interest Rate	2.51%
Designated as Hedging Instrument | 0.94% Interest rate swap
Derivative [Line Items]
Notional Amount	$ 50,000
Fixed Interest Rate	0.94%
Designated as Hedging Instrument | 0.74% Interest rate swap
Derivative [Line Items]
Notional Amount	$ 50,000
Fixed Interest Rate	0.74%
Designated as Hedging Instrument | 2.17% Interest rate swap
Derivative [Line Items]
Notional Amount	$ 50,000
Fixed Interest Rate	2.17%
Designated as Hedging Instrument | 1.77% Interest rate swap
Derivative [Line Items]
Notional Amount	$ 50,000
Fixed Interest Rate	1.77%

FINANCIAL ASSETS AND LIABILIT_4

FINANCIAL ASSETS AND LIABILITIES - Forward Freight Agreements (Details)	12 Months Ended
	Dec. 31, 2022
Long | Capesize, Forward Freight Agreements, Maturing in 2023
Derivative [Line Items]
Aggregate maturity period	735 days

FINANCIAL ASSETS AND LIABILIT_5

FINANCIAL ASSETS AND LIABILITIES - Bunker Derivatives (Details)	12 Months Ended
	Dec. 31, 2022 t
Bunker derivatives
Derivative [Line Items]
Outstanding bunker derivatives	26,800

FINANCIAL ASSETS AND LIABILIT_6

FINANCIAL ASSETS AND LIABILITIES - Foreign Currency Risk (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
NOK | Foreign currency swaps
Derivative [Line Items]
Notional amount	$ 0.2	$ 2.4

FINANCIAL ASSETS AND LIABILIT_7

FINANCIAL ASSETS AND LIABILITIES - Fair Values (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Liabilities
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Derivative instruments payables	Derivative instruments payables
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Derivative instruments receivables, Derivative instruments receivable	Derivative instruments receivables, Derivative instruments receivable
Fair Value | Level 1
Assets
Cash and cash equivalents	$ 134,784	$ 197,032
Restricted cash	3,289	12,985
Marketable securities	2,187	1,684
Fair Value | Level 2
Assets
Related party shareholder loans	837	6,187
Derivative assets	33,123	2,679
Liabilities
Derivative liabilities	1,313	10,364
Fair Value | Level 2 | Secured Debt
Liabilities
Long-term debt - floating	1,131,506	1,273,723
Carrying Value | Level 1
Assets
Cash and cash equivalents	134,784	197,032
Restricted cash	3,289	12,985
Marketable securities	2,187	1,684
Carrying Value | Level 2
Assets
Related party shareholder loans	837	6,187
Derivative assets	33,123	2,679
Liabilities
Derivative liabilities	1,313	10,364
Carrying Value | Level 2 | Secured Debt
Liabilities
Long-term debt - floating	$ 1,131,506	$ 1,273,723

FINANCIAL ASSETS AND LIABILIT_8

FINANCIAL ASSETS AND LIABILITIES - Assets Measured at Fair Value on a Nonrecurring Basis (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2020 USD ($) $ / d
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of operating lease right-of-use asset | $	$ 15,646	$ 19,965	$ 22,739
Fair value of finance lease right-of-use-asset | $	$ 83,589	$ 98,535
Level 3 | Nonrecurring | Minimum | Forward freight market rates adjusted for scrubber earnings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input				8,554,000
Level 3 | Nonrecurring | Minimum | Implied charter rates adjusted for scrubber earnings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input				12,715,000
Level 3 | Nonrecurring | Minimum | Ship operating expenses per day, including drydocking costs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input				5,328,000
Level 3 | Nonrecurring | Minimum | Offhire
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, duration				1 day
Level 3 | Nonrecurring | Maximum | Forward freight market rates adjusted for scrubber earnings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input				15,419,000
Level 3 | Nonrecurring | Maximum | Implied charter rates adjusted for scrubber earnings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input				15,584,000
Level 3 | Nonrecurring | Maximum | Ship operating expenses per day, including drydocking costs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input				7,754,000
Level 3 | Nonrecurring | Maximum | Offhire
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, duration				38 days
Level 3 | Nonrecurring | Weighted Average | Forward freight market rates adjusted for scrubber earnings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input				15,044,000
Level 3 | Nonrecurring | Weighted Average | Implied charter rates adjusted for scrubber earnings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input				13,857,000
Level 3 | Nonrecurring | Weighted Average | Ship operating expenses per day, including drydocking costs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input				6,918,000
Level 3 | Nonrecurring | Weighted Average | Offhire
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, duration				5 years 7 months 9 days
Fair Value | Level 3 | Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of operating lease right-of-use asset | $				$ 119,300
Fair value of finance lease right-of-use-asset | $				$ 25,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2015 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2015 USD ($) vessel	May 31, 2022 USD ($)	Dec. 31, 2021 USD ($) vessel
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of vessels under finance lease | vessel			7	8		7
Number of vessels under operating lease from third parties | vessel			2
Charter term, total				10 years
Number of vessels under construction | vessel			10
Outstanding contractual commitments			$ 255,600,000
Outstanding contractual commitments, 2023			$ 159,000,000
Number of vessels with commitment to install scrubbers | vessel			3
Remaining financial commitment			$ 1,200,000
Commitments, fair value disclosure			1,000,000
Performance Guarantee
Unrecorded Unconditional Purchase Obligation [Line Items]
Maximum liability under this guarantee			4,000,000
Amount payable under guarantee			$ 0
Frontline And Trafigura | Performance Guarantee
Unrecorded Unconditional Purchase Obligation [Line Items]
Guarantee issued with respect to performance of subsidiary					$ 30,000,000	$ 20,000,000
SFL
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of vessels under operating lease from third parties | vessel			7
Daily time charter rate			$ 19,135
SFL | KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase option net of sellers credit	$ 112,000,000			$ 112,000,000
Charter contract term				10 years
Charter term extension	3 years			3 years
Daily time charter rate		$ 14,900		$ 14,900

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands		1 Months Ended		12 Months Ended			25 Months Ended
	Mar. 01, 2023	Feb. 28, 2023 USD ($) vessel	Jan. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Feb. 16, 2023 $ / shares
Subsequent Event [Line Items]
Gain on sale of assets				$ 34,185	$ 9,788	$ 0
Principal amount				230,400
Dividends				$ 16,273	$ 0	$ 450
Subsequent Event
Subsequent Event [Line Items]
Dividends payable (in USD per share) | $ / shares									$ 0.20
Subsequent Event | Golden Strength
Subsequent Event [Line Items]
Gain on sale of assets			$ 2,700
Subsequent Event | Newcastlemax Vessels
Subsequent Event [Line Items]
Number of vessels acquired | vessel		6
Consideration		$ 291,000
Average age of acquired assets (in years)		2 years 6 months
Duration of time charter		36 months
Average fixed net time charter rate		$ 21
Subsequent Event | TFG Marine
Subsequent Event [Line Items]
Repayments of loans receivable from related party		900
Dividends		$ 4,900
Subsequent Event | Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Variable interest rate	1.90%
Subsequent Event | $250.0M Credit Facility
Subsequent Event [Line Items]
Principal amount			250,000				$ 250,000
Subsequent Event | $250.0M Credit Facility | Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Variable interest rate							1.85%
Subsequent Event | $233.0M Credit Facility
Subsequent Event [Line Items]
Principal amount								$ 233,000
Expiration period of line of credit facility	2 years
Subsequent Event | $93.75M Credit Facility
Subsequent Event [Line Items]
Principal amount			93,750				$ 93,750
Subsequent Event | $131.79M Credit Facility
Subsequent Event [Line Items]
Principal amount			131,790				131,790
Subsequent Event | $155.3M Credit Facility
Subsequent Event [Line Items]
Principal amount			$ 155,300				$ 155,300