SFL (SFL) 6-K4 Sep 142014 Q2 Current report (foreign)Financial data

Company Profile

DOCUMENT_AND_ENTITY_INFORMATIO

DOCUMENT AND ENTITY INFORMATION	6 Months Ended
DOCUMENT AND ENTITY INFORMATION	Jun. 30, 2014
Document and Entity Information [Abstract]	'
Entity Registrant Name	'Ship Finance International LTD
Entity Central Index Key	'0001289877
Current Fiscal Year End Date	'--12-31
Entity Filer Category	'Large Accelerated Filer
Document Type	'6-K
Document Period End Date	30-Jun-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q2
Amendment Flag	'false
Entity Well-known Seasoned Issuer	'Yes
Entity Voluntary Filers	'No
Entity Current Reporting Status	'Yes

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	6 Months Ended		12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Operating revenues	'	'	'
Direct financing lease interest income - related parties	$23,164	$28,489	$55,385
Direct financing and sales-type lease interest income - other	0	3,018	4,231
Finance lease service revenues - related parties	23,530	26,650	52,390
Finance lease service revenues - other	0	825	1,846
Profit sharing revenues from related parties	14,290	100	770
Time charter revenues - related parties	4,846	1,935	5,647
Time charter revenues - other	37,045	38,937	77,778
Bareboat charter revenues - related parties	9,071	9,103	18,324
Bareboat charter revenues - other	24,539	21,177	42,705
Voyage charter revenues - other	16,866	0	9,724
Other operating income	2,305	844	2,060
Total operating revenues	155,656	131,078	270,860
Gain on sale of assets and termination of charters	15,197	18,025	18,025
Operating expenses	'	'	'
Vessel operating expenses - related parties	24,807	27,869	54,916
Vessel operating expenses - other	32,935	19,360	50,618
Depreciation	31,661	28,337	58,436
Administrative expenses - related parties	495	233	439
Administrative expenses - other	3,523	3,678	7,110
Total operating expenses	93,421	79,477	171,519
Net operating income	77,432	69,626	117,366
Non-operating income / (expense)	'	'	'
Interest income â€“ related parties, associated companies	11,866	9,788	19,575
Interest income â€“ related parties, other	1,868	0	482
Interest income - other	7,652	5,012	10,023
Interest expense - other	-42,573	-44,184	-87,225
Gain/(loss) on purchase of bonds	-21	-1,109	-1,218
Other financial items, net	-7,151	2,779	2,003
Net income before equity in earnings of associated companies	49,073	41,912	61,006
Equity in earnings of associated companies	14,019	15,530	28,200
Net income	$63,092	$57,442	$89,206
Per share information:	'	'	'
Basic earnings per share (in dollars per share)	$0.68	$0.67	$1
Weighted average number of shares outstanding, basic	93,277	85,694	89,508
Diluted earnings per share (in dollars per share)	$0.64	$0.60	$0.99
Weighted average number of shares outstanding, diluted	116,668	107,996	95,424

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]	'	'	'
Net income	$63,092	$57,442	$89,206
Fair value adjustments to hedging financial instruments	-8,996	32,908	41,827
Fair value adjustments to hedging financial instruments in associated companies	-913	4,128	2,897
Reclassification into net income of previous fair value adjustments to hedging financial instruments	5,196	502	2,102
Fair value adjustments to available for sale securities	-346	218	699
Other items of comprehensive (loss)/income	3	-68	-58
Other comprehensive income, net of tax	-5,056	37,688	47,467
Comprehensive income	$58,036	$95,130	$136,673

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Current assets	'	'
Cash and cash equivalents	$49,480	$58,641
Available for sale securities	61,889	76,925
Trade accounts receivable	6,121	8,362
Due from related parties	30,204	13,249
Other receivables	28,795	79,301
Inventories	5,557	6,607
Prepaid expenses and accrued income	3,616	3,971
Investment in direct financing and sales-type leases, current portion	44,978	45,148
Total current assets	230,640	292,204
Vessels and equipment, net	1,185,825	1,089,616
Newbuildings	146,814	126,008
Investment in direct financing and sales-type leases, long-term portion	838,431	858,260
Investment in associated companies	40,962	40,987
Loans to related parties - associated companies, long-term	478,259	530,715
Loans to related parties - others, long-term	45,701	48,847
Loans to others, long-term	1,234	1,235
Deferred charges	37,600	41,478
Financial instruments (long-term): at fair value	7,320	16,633
Total assets	3,012,786	3,045,983
Current liabilities	'	'
Short-term debt and current portion of long-term debt	396,963	389,888
Trade accounts payable	1,060	3,502
Due to related parties	1,939	13,965
Accrued expenses	13,041	13,832
Financial instruments (short-term): at fair value	2,568	5,705
Other current liabilities	11,569	5,548
Total current liabilities	427,140	432,440
Long-term liabilities	'	'
Long-term debt	1,333,052	1,346,991
Financial instruments (long-term): at fair value	59,980	56,490
Other long-term liabilities	16,592	18,129
Total liabilities	1,836,764	1,854,050
Commitments and contingent liabilities	'	'
Stockholders' equity	'	'
Share capital ($1 par value; 125,000,000 shares authorized; 93,359,000 and 93,260,000 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively)	93,359	93,260
Additional paid-in capital	284,829	285,632
Contributed surplus	583,888	581,569
Accumulated other comprehensive loss	-38,994	-34,851
Accumulated other comprehensive loss â€“ associated companies	-3,192	-2,279
Retained earnings	256,132	268,602
Total stockholders' equity	1,176,022	1,191,933
Total liabilities and stockholders' equity	$3,012,786	$3,045,983

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Stockholders' equity	'	'	'	'
Share capital, par value (in dollars per share)	$1	$1	'	'
Share Capital, shares authorized	125,000,000	125,000,000	'	'
Share Capital, shares issued	93,359,000	93,260,000	'	'
Share Capital, shares outstanding	93,359,000	93,260,000	93,260,000	85,225,000

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Operating activities	'	'	'
Net income	$63,092	$57,442	$89,206
Adjustments to reconcile net income to net cash provided by operating activities:	'	'	'
Depreciation	31,661	28,337	58,436
Amortization of deferred charges	5,424	5,303	11,305
Amortization of seller's credit	-957	-996	-1,983
Equity in earnings of associated companies	-14,019	-15,530	-28,200
Gain on sale of assets and termination of charters	-15,197	-18,025	-18,025
Adjustment of derivatives to fair value recognized in net income	2,705	-4,658	-7,950
Gain/(loss) on purchase of bonds	21	1,109	1,218
Interest receivable in form of notes	-1,532	-1,326	-2,767
Other, net	-1,960	-1,626	-1,396
Changes in operating assets and liabilities	'	'	'
Trade accounts receivable	2,241	-4,296	-4,313
Due from related parties	-4,650	53,537	49,189
Other receivables	-5,444	-1,738	-740
Inventories	1,051	-312	-3,656
Prepaid expenses and accrued income	355	-436	-3,236
Trade accounts payable	-2,442	-1,161	2,047
Accrued expenses	-791	-154	271
Other current liabilities	-2,481	752	718
Net cash provided by operating activities	57,077	96,222	140,124
Investing activities	'	'	'
Repayments from investments in direct financing and sales-type leases	-21,921	-26,387	-51,220
Additions to newbuildings	-84,239	-64,019	-109,337
Purchase of vessels	-122,870	0	0
Proceeds from sale of vessels and termination of charters	-90,746	-40,366	-83,583
Proceeds from sale of investment in associated company	-44,402	126,097	81,308
Proceeds/(costs) of other long-term investments	50,000	0	0
Purchase of available for sale securities	16,064	-9,668	-18,140
Net cash (used in)/provided by investing activities	16,024	-133,031	-73,982
Financing activities	'	'	'
Shares issued, net of issuance costs	463	128,880	128,880
Payments in lieu of issuing shares for exercised share options	-1,196	-448	-448
Repurchase of bonds	-75,262	-248,109	-254,132
Proceeds from issuance of short-term and long-term debt	397,332	514,747	705,347
Repayments of short-term and long-term debt	-325,783	-333,066	-530,186
Debt fees paid	-2,254	-8,343	-8,390
Cash dividends paid	-75,562	-36,371	-109,114
Net cash used in financing activities	-82,262	17,290	-68,043
Net (decrease)/increase in cash and cash equivalents	-9,161	-19,519	-1,901
Cash and cash equivalents at start of the year	58,641	60,542	60,542
Cash and cash equivalents at end of the year	49,480	41,023	58,641
Supplemental disclosure of cash flow information:	'	'	'
Interest paid, net of capitalized interest	$39,952	$39,926	$77,630

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Contributed Surplus [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated other comprehensive loss associated companies [Member]	Retained Earnings [Member]
In Thousands, except Share data, unless otherwise specified	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Contributed Surplus [Member]	Accumulated Other Comprehensive Income (Loss) [Member]		Retained Earnings [Member]
Balance, at beginning of year at Dec. 31, 2012	$994,768	$85,225	$144,258	$561,372	($79,421)	($5,176)	$288,510
Balance, at beginning of year (in shares) at Dec. 31, 2012	85,225,000	85,225,000	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Shares issued (in shares)	8,035,000	8,035,000	'	'	'	'	'
Shares issued	128,915	8,035	120,880	'	'	'	'
Payments in lieu of issuing shares for exercised share options	-448	'	-448	'	'	'	'
Amortization of stock based compensation	140	'	140	'	'	'	'
Equity component of convertible bond issuance, net	20,722	'	20,722	'	'	'	'
Amortization of deferred equity contributions	6,385	'	'	6,385	'	'	'
Loss on hedging financial instruments reclassified into earnings	502	'	'	'	502	'	'
Fair value adjustments to hedging financial instruments	37,036	'	'	'	32,908	4,128	'
Fair value adjustments to available for sale securities	218	'	'	'	218	'	'
Other items of comprehensive (loss)/income	-68	'	'	'	-68	'	'
Net income	57,442	'	'	'	'	'	57,442
Dividends declared	-36,371	'	'	'	'	'	-36,371
Balance, at end of year at Jun. 30, 2013	1,209,241	93,260	285,552	567,757	-45,861	-1,048	309,581
Balance, at end of year (in shares) at Jun. 30, 2013	93,260,000	93,260,000	'	'	'	'	'
Balance, at beginning of year at Dec. 31, 2012	994,768	85,225	144,258	561,372	-79,421	-5,176	288,510
Balance, at beginning of year (in shares) at Dec. 31, 2012	85,225,000	85,225,000	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Shares issued (in shares)	8,035,000	8,035,000	'	'	'	'	'
Shares issued	128,915	8,035	120,880	'	'	'	'
Payments in lieu of issuing shares for exercised share options	-448	'	-448	'	'	'	'
Amortization of stock based compensation	220	'	220	'	'	'	'
Equity component of convertible bond issuance, net	20,722	'	20,722	'	'	'	'
Amortization of deferred equity contributions	20,197	'	'	20,197	'	'	'
Loss on hedging financial instruments reclassified into earnings	2,102	'	'	'	2,102	'	'
Fair value adjustments to hedging financial instruments	44,724	'	'	'	41,827	2,897	'
Fair value adjustments to available for sale securities	699	'	'	'	699	'	'
Other items of comprehensive (loss)/income	-58	'	'	'	-58	'	'
Net income	89,206	'	'	'	'	'	89,206
Dividends declared	-109,114	'	'	'	'	'	-109,114
Balance, at end of year at Dec. 31, 2013	1,191,933	93,260	285,632	581,569	-34,851	-2,279	268,602
Balance, at end of year (in shares) at Dec. 31, 2013	93,260,000	93,260,000	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Shares issued (in shares)	99,000	99,000	'	'	'	'	'
Shares issued	463	99	364	'	'	'	'
Payments in lieu of issuing shares for exercised share options	-1,196	'	-1,196	'	'	'	'
Amortization of stock based compensation	29	'	29	'	'	'	'
Equity component of convertible bond issuance, net	0	'	0	'	'	'	'
Amortization of deferred equity contributions	2,319	'	'	2,319	'	'	'
Loss on hedging financial instruments reclassified into earnings	5,196	'	'	'	5,196	'	'
Fair value adjustments to hedging financial instruments	-9,909	'	'	'	-8,996	-913	'
Fair value adjustments to available for sale securities	-346	'	'	'	-346	'	'
Other items of comprehensive (loss)/income	3	'	'	'	3	'	'
Net income	63,092	'	'	'	'	'	63,092
Dividends declared	-75,562	'	'	'	'	'	-75,562
Balance, at end of year at Jun. 30, 2014	$1,176,022	$93,359	$284,829	$583,888	($38,994)	($3,192)	$256,132
Balance, at end of year (in shares) at Jun. 30, 2014	93,359,000	93,359,000	'	'	'	'	'

INTERIM_FINANCIAL_DATA

INTERIM FINANCIAL DATA	6 Months Ended
INTERIM FINANCIAL DATA	Jun. 30, 2014
INTERIM FINANCIAL DATA [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	'
	INTERIM FINANCIAL DATA
	The unaudited condensed interim financial statements of Ship Finance International Limited (“Ship Finance” or the “Company”) have been prepared on the same basis as the Company’s audited financial statements and, in the opinion of management, include all material adjustments, consisting only of normal recurring adjustments considered necessary in order to make the interim financial statements not misleading, in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The accompanying condensed interim unaudited financial statements should be read in conjunction with the annual financial statements and notes included in the Annual Report on Form 20-F for the year ended December 31, 2013. The results of operations for the interim period ended June 30, 2014 are not necessarily indicative of the results for the entire year ending December 31, 2014.
	Basis of accounting
	The condensed consolidated financial statements are prepared in accordance with US GAAP. The condensed consolidated financial statements include the assets and liabilities and results of operations of the Company and its subsidiaries including variable interest entities in which the Ship Finance is deemed to be the primary beneficiary. All inter-company balances and transactions have been eliminated on consolidation.
	The condensed consolidated financial statements are prepared in accordance with the accounting policies described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2013.
	New Accounting Pronouncements
	Accounting Standards Update No. 2014-09-Revenue from Contracts with Customers (Topic 606). The Financial Accounting Standards Board (FASB) and the International Accounting Standard Board (IASB) initiated a joint project to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS. To meet those objectives, the FASB is amending the FASB Accounting Standards Codification and creating a new Topic 606, Revenue from Contracts with Customers, and the IASB is issuing IFRS 15, Revenue from Contracts with Customers. The issuance of these documents completes the joint effort by the FASB and the IASB to meet those objectives and improve financial reporting by creating common revenue recognition guidance for US GAAP and IFRS. The amendments in this Update are effective for the Company for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Company is currently considering the impact of these amendments on its consolidated financial statements.

GAIN_ON_SALE_OF_ASSETS_AND_TER

GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS	6 Months Ended
GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS	Jun. 30, 2014
Gain (Loss) on Disposition of Assets [Abstract]	'
GAIN ON SALE OF ASSETS	'
	GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS

	In March 2014, the Company agreed to a settlement of a claim relating to four Handysize dry bulk carriers which were redelivered in 2012, before the expiry of their charters. The total settlement amount is approximately $30 million, of which approximately $20 million was received in the period and the remaining balance is scheduled to be paid in two installments during 2014. The Company recorded gains of $15.2 million relating to amounts received in the six months ended June 30, 2014.

AVAILABLE_FOR_SALE_SECURITIES

AVAILABLE FOR SALE SECURITIES	6 Months Ended
	Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
AVAILABLE FOR SALE SECURITIES	'
	AVAILABLE FOR SALE SECURITIES
	Marketable securities held by the Company are debt securities considered to be available-for-sale securities.



	(in thousands of $)	June 30, 2014	December 31, 2013

	Amortized cost	60,967	75,657

	Accumulated net unrealized gain	922	1,268

	Carrying value	61,889	76,925


	The Company's investment in marketable securities consists of investments in secured notes. The net unrealized accumulated gain on available-for-sale securities included in other comprehensive income as at June 30, 2014 was $0.9 million (December 31, 2013: net unrealized accumulated gain of $1.3 million).

VESSELS_AND_EQUIPMENT_NET

VESSELS AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]	'
VESSELS AND EQUIPMENT, NET	'
	VESSELS AND EQUIPMENT, NET


	(in thousands of $)	June 30,		December 31,
		2014		2013
	Cost	1,488,475		1,360,605

	Accumulated depreciation	(302,650	)	(270,989	)
	Vessels and equipment, net	1,185,825		1,089,616


	During the period, the Company acquired nine second hand container vessels at a total cost of $127.9 million.

NEWBUILDINGS

NEWBUILDINGS	6 Months Ended
NEWBUILDINGS	Jun. 30, 2014
NEWBUILDINGS [Abstract]	'
NEWBUILDINGS	'
	NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS

	During the period, the Company paid a total installment of $68 million in relation to four 8,700 TEU newbuilding container vessels, currently under construction in Korea. In addition, a total deposit of $9.3 million was paid in relation to two second hand 82,000 dwt Kamsarmax dry-bulk carriers it agreed to acquire in May 2014. The Company also cancelled the three remaining 4,800 twenty-foot equivalent units (“TEU”) newbuilding container vessels under construction in China due to excessive delays. The installments paid to the shipyard for two out of the three cancellations were fully refunded by June 30, 2014. The shipyard also agreed to pay interest thereon which was received subsequent to the period end.

INVESTMENTS_IN_DIRECT_FINANCIN

INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES	6 Months Ended
	Jun. 30, 2014
Net Investment in Direct Financing and Sales Type Leases [Abstract]	'
INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES	'
	INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES
	As at June 30, 2014, 20 of the Company's double-hull VLCCs and Suezmax tankers were chartered to Frontline Shipping Limited (“Frontline Shipping”) and Frontline Shipping II Limited (“Frontline Shipping II”) on long-term, fixed rate time charters which extend for various periods depending on the age of the vessels, ranging from approximately four to 13 years. Frontline Shipping and Frontline Shipping II are subsidiaries of Frontline Ltd. (“Frontline”), a related party, and the terms of the charters do not provide them with an option to terminate the charters before the end of their terms.
	One of the Company’s offshore supply vessels is chartered on a long-term bareboat charter to DESS Cyprus Limited, a wholly-owned subsidiary of Deep Sea Supply Plc., a related party. Another of the Company's offshore supply vessels is chartered on a long term bareboat charter to Deep Sea Supply Shipowning II B.V., a wholly owned subsidiary of Deep Sea Supply BTG B.V., which is a joint venture owned 50% by Deep Sea Supply Plc. and 50% by BTG Pactual Oil & Gas Empreendimentos e Particapacoes S.A., or BTG Pactual. We refer to Deep Sea Supply Plc. and Deep Sea Supply BTG B.V. together as “Deep Sea”. The terms of the charters provide the charterer with various call options to acquire the vessels at certain dates throughout the charters, which expire in 2020.
	The above assets (22 vessels) of the Company were accounted for as direct financing leases, all of which are leased to related parties. The following lists the components of the investments in direct financing leases as at June 30, 2014.


	(in thousands of $)	June 30, 2014		December 31, 2013

	Total minimum lease payments to be received	1,420,226		1,490,111

	Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	(408,932	)	(432,463	)
	Net minimum lease payments receivable	1,011,294		1,057,648

	Estimated residual values of leased property (un-guaranteed)	278,152		278,152

	Less: unearned income	(295,057	)	(318,910	)
		994,389		1,016,890

	Less: deferred deemed equity contribution	(104,057	)	(106,377	)
	Less: unamortized gains	(6,923	)	(7,105	)
	Total investment in direct financing and sales-type leases	883,409		903,408


	Current portion	44,978		45,148

	Long-term portion	838,431		858,260

		883,409		903,408

INVESTMENT_IN_ASSOCIATED_COMPA

INVESTMENT IN ASSOCIATED COMPANIES	6 Months Ended
	Jun. 30, 2014
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]	'
INVESTMENT IN ASSOCIATED COMPANIES	'
	INVESTMENT IN ASSOCIATED COMPANIES
	The Company has certain wholly-owned subsidiaries which are accounted for using the equity method, as it has been determined under ASC 810 that they are variable interest entities in which Ship Finance is not the primary beneficiary.
	At June 30, 2014, June 30, 2013 and December 31, 2013, the Company has the following participation in investments that are recorded using the equity method:



		June 30, 2014			June 30, 2013			December 31, 2013

	SFL West Polaris Limited (“SFL West Polaris”)	100	%		100	%		100	%
	SFL Deepwater Ltd (“SFL Deepwater”)	100	%		100	%		100	%
	Bluelot Shipping Company Limited (“Bluelot”)	—			100	%		100	%

	SFL Corte Real Limited (“Corte Real”)	—			100	%		100	%

	SFL Hercules Ltd ("SFL Hercules")	100	%		100	%		100	%
	SFL Linus Ltd ("SFL Linus")	100	%		100	%		100	%

	Summarized balance sheet information of the Company’s equity method investees is as follows:



		As of June 30, 2014
	(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
								Real			Polaris		Deepwater
	Current assets	206,247			—			—			33,298		74,020		45,939		52,990

	Non-current assets	1,821,527			—			—			442,708		411,647		414,065		553,107

	Total assets	2,027,774			—			—			476,006		485,667		460,004		606,097

	Current liabilities	215,193			—			—			38,583		85,065		37,282		54,263

	Non-current liabilities	1,771,619			—			—			432,169		372,421		415,000		552,029

	Total Liabilities	1,986,812			—			—			470,752		457,486		452,282		606,292

	Total stockholders’ equity	40,962			—			—			5,254		28,181		7,722		(195	)




		As of December 31, 2013
	(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
								Real			Polaris		Deepwater
	Current assets	205,916			9,780			9,857			34,412		94,981		56,886		—

	Non-current assets	1,516,033			—			—			458,558		432,755		429,720		195,000

	Total assets	1,721,949			9,780			9,857			492,970		527,736		486,606		195,000

	Current liabilities	159,847			3,523			3,646			38,337		85,240		29,101		—

	Non-current liabilities	1,521,115			—			—			451,384		418,554		453,860		197,317

	Total Liabilities	1,680,962			3,523			3,646			489,721		503,794		482,961		197,317

	Total stockholders’ equity	40,987			6,257			6,211			3,249		23,942		3,645		(2,317	)

	Summarized statement of operations information of the Company’s equity method investees is as follows:



		Six months ended June 30, 2014
(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
							Real			Polaris		Deepwater
Operating revenues	52,653			1,171			2,492			11,151		12,936		12,686		12,217

Net operating revenues	49,601			232			431			11,136		12,924		12,672		12,206

Net income/ (loss)	14,019			232			431			2,005		4,239		4,077		3,035




	Six months ended June 30, 2013
(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
							Real			Polaris		Deepwater
Operating revenues	64,339			9,858			9,883			12,168		31,804		626		—

Net operating revenues	46,803			1,112			1,112			12,150		31,804		625		—

Net income	15,530			1,112			1,112			1,163		12,381		(238	)	—




	Year ended December 31, 2013
(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
							Real			Polaris		Deepwater
Operating revenues	122,792			19,490			19,624			23,701		46,145		13,832		—

Net operating revenues	88,121			2,261			2,262			23,681		46,109		13,808		—

Net income	28,200			2,261			2,261			2,324		17,747		3,645		(38	)


SFL West Polaris is a 100% owned subsidiary of Ship Finance, incorporated in 2008 for the purpose of holding an ultra deepwater drillship and leasing that vessel to Seadrill Polaris Ltd. (“Seadrill Polaris”), a wholly-owned subsidiary of Seadrill Limited (“Seadrill”) whose performance under the leasing arrangement is fully guaranteed by Seadrill. The vessel is chartered on a bareboat basis and the terms of the charter provide the charterer with various call options to acquire the vessel at certain dates throughout the charter. In addition, SFL West Polaris has a put option to sell the vessel to Seadrill Polaris at a fixed price at the end of the charter, which expires in 2023. Because the main asset of SFL West Polaris is the subject of a lease which includes both fixed price call options and a fixed price put option, it has been determined that this subsidiary of Ship Finance is a variable interest entity in which Ship Finance is not the primary beneficiary. In December 2012, SFL West Polaris entered into a $420.0 million five year term loan and revolving credit facility, which was used in January 2013 to refinance the outstanding balance under a $700.0 million facility entered into in 2008, and for general corporate purposes. At June 30, 2014, the balance outstanding under this facility was $369.0 million. The Company guaranteed $94.0 million of this debt at June 30, 2014.

SFL Deepwater is a 100% owned subsidiary of Ship Finance, incorporated in 2008 for the purpose of holding two ultra deepwater drilling rigs and leasing those rigs to Seadrill Deepwater Charterer Ltd. (“Seadrill Deepwater”) and Seadrill Offshore AS (“Seadrill Offshore”), two wholly-owned subsidiaries of Seadrill whose performances under the leasing arrangements are fully guaranteed by Seadrill. One of the rigs, West Hercules, was transferred from SFL Deepwater to SFL Hercules, a 100% owned subsidiary of Ship Finance, in June 2013 at the carrying value of the Investment in finance lease. The remaining rig, West Taurus, is chartered on a bareboat basis and the terms of the charter provide Seadrill Deepwater with various call options to acquire the rig at certain dates throughout the charter. In addition, there is an obligation for the charterer to purchase the rig at a fixed price at the end of the charter, which expires in 2023. Because the main asset of SFL Deepwater is the subject of a lease which includes both fixed price call options and a fixed price purchase obligation, it has been determined that this subsidiary of Ship Finance is a variable interest entity in which Ship Finance is not the primary beneficiary. In October 2013, SFL Deepwater entered into a $390.0 million five year term loan and revolving credit facility, which was used in November 2013 to refinance the outstanding balance under a $1,400 million loan facility entered into in September 2008, and for general corporate purposes. At June 30, 2014, the balance outstanding under the new facility was $343.3 million. The Company guaranteed $90.0 million of this debt at June 30, 2014.

SFL Hercules is a 100% owned subsidiary of Ship Finance which was incorporated in January 2012 for the purpose of acquiring the ultra deepwater drilling rig West Hercules from SFL Deepwater and carry on leasing the rig to Seadrill Offshore on the same terms as originally established under the lease by SFL Deepwater. The vessel is chartered on a bareboat basis and the performance of Seadrill Offshore under the leasing arrangement is fully guaranteed by Seadrill. The terms of the charter provide the charterer with various call options to acquire the vessel at certain dates throughout the charter. In addition, there is an obligation for the charterer to purchase the rig at a fixed price at the end of the charter, which expires in 2023. Because the main asset of SFL Hercules is the subject of a lease which includes both fixed price call options and a fixed price purchase obligation, it has been determined that this subsidiary of Ship Finance is a variable interest entity in which Ship Finance is not the primary beneficiary. In May 2013, SFL Hercules entered into a $375.0 million secured term loan and revolving credit facility with a syndicate of banks. The facility was drawn in June 2013 and the proceeds were used to fund the acquisition of the ultra deepwater drilling rig West Hercules, which was transferred from SFL Deepwater at the carrying value of its Investment in finance lease receivable. At June 30, 2014, the balance outstanding under this facility was $297.5 million. In addition, $50 million was available under the revolving part of the facility at June 30, 2014. The Company guaranteed $85.0 million of this debt at June 30, 2014.

SFL Linus is a 100% owned subsidiary of Ship Finance, acquired from North Atlantic Drilling Ltd ("NADL"), a related party, in 2013. SFL Linus holds a newbuilding harsh environment jack-up drilling rig which upon delivery in February 2014 was leased to North Atlantic Linus Charterer Ltd. (“North Atlantic Charterer”), fully guaranteed by its parent company NADL. The vessel is chartered on a bareboat basis and the terms of the charter provide the charterer with various call options to acquire the vessel at certain dates throughout the charter. In addition, SFL Linus has a put option to sell the vessel to North Atlantic Charterer at a fixed price at the end of the charter, which expires in 2029. Because the main asset of SFL Linus is the subject of a lease which includes both fixed price call options and a fixed price put option, it has been determined that this subsidiary of Ship Finance is a variable interest entity in which Ship Finance is not the primary beneficiary. In October 2013, SFL Linus entered into a $475.0 million five year term loan and revolving credit facility to partly finance the acquisition of the rig. The facility was drawn when the rig was delivered to SFL Linus and the charter commenced in February 2014. At June 30, 2014, the balance outstanding under this facility was $475.0 million. The facility was fully guaranteed by Ship Finance until the rig commenced a sub-charter in May 2014. Thereafter, Ship Finance guarantees $90.0 million of the debt.

Bluelot and Corte Real are 100% owned subsidiaries of Ship Finance, each incorporated in 2010 for the purpose of leasing in, a 13,800 TEU container vessel on a bareboat charter basis, respectively the CMA CGM Magellan and the CMA CGM Corte Real, and leasing the vessel out on a time-charter basis to CMA CGM. In November and December 2013, CMA CGM exercised its options to acquire the two vessel-owning entities, and the charter agreements were terminated in January and March 2014, respectively. Accordingly, the two $25 million investment loans, which were included in "Other receivables" at December 31, 2013, were repaid to the Company upon the termination of the charters. The business activities of Bluelot and Corte Real were discontinued upon the redelivery of their respective vessels to CMA CGM. Consequently, the subsidiaries ceased to be accounted for using the equity method and were consolidated as at June 30, 2014.

SFL West Polaris, SFL Deepwater, SFL Hercules and SFL Linus have loan facilities for which Ship Finance provides limited guarantees, as indicated above. The loan facilities for SFL West Polaris, SFL Deepwater and SFL Hercules contain financial covenants, with which both Ship Finance and Seadrill must comply. As at June 30, 2014, Ship Finance and Seadrill were in compliance with all of the covenants under these long-term debt facilities. The SFL Linus loan facility contains financial covenants, with which both Ship Finance and NADL must comply. As at June 30, 2014, Ship Finance and NADL were in compliance with all of the covenants under this long-term debt facility.

SHORTTERM_AND_LONGTERM_DEBT

SHORT-TERM AND LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2014
Long-term Debt, by Current and Noncurrent [Abstract]	'
SHORT-TERM AND LONG-TERM DEBT	'
	SHORT-TERM AND LONG-TERM DEBT


	(in thousands of $)	June 30, 2014		December 31, 2013

	Long-term debt:
	NOK500 million senior unsecured floating rate bonds due 2014	—		71,854

	3.75% senior unsecured convertible bonds due 2016	125,000		125,000

	NOK600 million senior unsecured floating rate bonds due 2017	93,231		92,843

	3.25% senior unsecured convertible bonds due 2018	350,000		350,000

	NOK900 million senior unsecured floating rate bonds due 2019	145,388		—

	U.S. dollar denominated floating rate debt (LIBOR plus margin) due through 2026	1,016,396		1,097,182

		1,730,015		1,736,879

	Less: Current portion of long-term debt	(396,963	)	(389,888	)
		1,333,052		1,346,991


	The outstanding debt as of June 30, 2014 is repayable as follows:



	(in thousands of $)
	Year ending December 31

	2014 (remaining six months)	156,289

	2015	262,936

	2016	179,591

	2017	183,886

	2018	658,074

	Thereafter	289,239

	Total debt	1,730,015

	The weighted average interest rate for floating rate debt denominated in U.S. dollars and Norwegian kroner (“NOK”) was 4.84% per annum at June 30, 2014 (December 31, 2013: 4.86%). This rate takes into consideration the effect of related interest rate swaps. At June 30, 2014, the three month US Dollar London Interbank Offered Rate, or LIBOR, was 0.231% (December 31, 2013: 0.246%) and the Norwegian Interbank Offered Rate, or NIBOR, was 1.75% (December 31, 2013: 1.69%).
	8.5% Senior Notes due 2013
	On December 15, 2003, the Company issued $580.0 million of 8.5% Senior Notes which were subsequently redeemed in full on March 1, 2013. The Company recorded losses of $1.1 million on the repurchase of the notes in 2013. The redemption of the outstanding notes in 2013 was partly funded by the issue in January 2013 of $350 million 3.25% senior unsecured convertible bonds due 2018 (see below).

	NOK500 million senior unsecured bonds due 2014
	On October 7, 2010, the Company issued a senior unsecured bond loan totaling NOK500.0 million in the Norwegian credit market. The bonds bore a quarterly interest at NIBOR plus a margin and the remaining balance of NOK432.5 million was redeemed in full at their maturity date of April 7, 2014. The net amount outstanding at June 30, 2014, was NOKnil, equivalent to $nil (December 31, 2013: NOK436.5 million, equivalent to $71.9 million).
	3.75% senior unsecured convertible bonds due 2016
	On February 10, 2011, the Company issued a senior unsecured convertible bond loan totaling $125.0 million. Interest on the bonds is fixed at 3.75% per annum and is payable in cash semi-annually in arrears on February 10 and August 10. The bonds are convertible into Ship Finance International Limited common shares at any time up to 10 banking days prior to February 10, 2016. The conversion price at the time of issue was $27.05 per share, representing a 35% premium to the share price at the time. Since then, dividend distributions have reduced the conversion price to $19.36. The Company has the right to call the bonds after March 3, 2014, if the value of the shares underlying each bond exceeds, for a specified period of time, 130% of the principal amount of the bond.

	NOK600 million senior unsecured bonds due 2017
	On October 19, 2012, the Company issued a senior unsecured bond loan totaling NOK600 million in the Norwegian credit market. The bonds bear quarterly interest at NIBOR plus a margin and are redeemable in full on October 19, 2017. The bonds may, in their entirety, be redeemed at the Company's option from April 19, 2017, upon giving bondholders at least 30 business days notice and paying 100.5% of par value plus accrued interest. Subsequent to their issue, the Company purchased bonds with principal amounts totaling NOK36.0 million in 2013, which were being held as treasury bonds. In April 2014, the Company sold NOK8.0 million of the bonds being held as treasury bonds. At June 30, 2014, the net amount of NOK572.0 million was outstanding, equivalent to $93.2 million (December 31, 2013: NOK564 million, equivalent to $92.8 million).
	3.25% senior unsecured convertible bonds due 2018
	On January 30, 2013, the Company issued a senior unsecured convertible bond loan totaling $350.0 million. Interest on the bonds is fixed at 3.25% per annum and is payable in cash quarterly in arrears on February 1, May 1, August 1 and November 1. The bonds are convertible into Ship Finance International Limited common shares at any time up to 10 banking days prior to February 1, 2018. The conversion price at the time of issue was $21.945 per share, representing a 33% premium to the share price at the time. Since then, dividend distributions have reduced the conversion price to $19.549. In conjunction with the bond issue, the Company loaned up to 6,060,606 of its common shares to an affiliate of one of the underwriters of the issue, in order to assist investors in the bonds to hedge their position. The shares that were lent by the Company were borrowed from Hemen Holding Ltd., the largest shareholder of the Company for a one-time loan fee of $1.0 million.
	As required by ASC 470-20 "Debt with conversion and other options", the Company calculated the equity component of the convertible bond taking into account both the fair value of the conversion option and the fair value of the share lending arrangement. The equity component was valued at $20.7 million in 2013 and this amount was recorded as "Additional paid-in capital", with a corresponding adjustment to "Deferred charges" which are amortized to "Interest expense" over the appropriate period. The amortization of this item amounted to $2.1 million for the six months ended June 30, 2014.

	NOK900 million senior unsecured bonds due 2019
	On March 19, 2014, the Company issued a senior unsecured bond loan totaling NOK900 million in the Norwegian credit market. The bonds bear quarterly interest at NIBOR plus a margin and are redeemable in full on March 19, 2019. The bonds may, in their entirety, be redeemed at the Company's option from September 19, 2018, upon giving bondholders at least 30 business days notice and paying 100.5% of par value plus accrued interest. Subsequent to their issue, the Company purchased bonds with principal amounts totalling NOK8.0 million during the six months ended June 30, 2014. At June 30, 2014, the net amount of NOK892 million was outstanding, equivalent to $145.4 million (December 31, 2013: NOKnil, equivalent to $nil).
	$210 million secured term loan facility
In April 2006, five wholly-owned subsidiaries of the Company entered into a $210.0 million secured term loan facility with a syndicate of banks to partly fund the acquisition of five new container vessels. The terms of the loan were initially linked to long-term charters of the vessels, and the Company did not provide a corporate guarantee for the facility. In April 2012, those long-term charters were terminated and the terms of the loan agreement were amended. Although the facility continues without recourse to the Company, as part of the amended agreement the Company now guarantees that revenues received by the vessel-owning subsidiaries will achieve certain minimum levels. This performance guarantee has been reduced to a maximum amount of $10.5 million in aggregate as of June 30, 2014. The facility bears interest at LIBOR plus a margin and has a term of twelve years from the date of drawdown for each vessel. The net amount outstanding at June 30, 2014, was $173.1 million (December 31, 2013: $174.8 million).
$149 million secured term loan facility
In August 2007, five wholly-owned subsidiaries of the Company entered into a $149.0 million secured term loan facility with a syndicate of banks. The proceeds of the facility were used to partly fund the acquisition of five new offshore supply vessels, which served as the security for this facility. One of the vessels was sold in January 2008 and the loan facility is currently secured by the remaining four vessels. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of seven years. The net amount outstanding at June 30, 2014, was $69.7 million (December 31, 2013: $73.9 million).
$77 million secured term loan facility
In January 2008, two wholly-owned subsidiaries of the Company entered into a $77.0 million secured term loan facility with a syndicate of banks. The proceeds of the facility were used to partly fund the acquisition of two offshore supply vessels, which also serve as the security for this facility. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of seven years. The net amount outstanding at June 30, 2014, was $35.9 million (December 31, 2013: $39.1 million).
$30 million secured revolving credit facility
In February 2008, a wholly-owned subsidiary of the Company entered into a $30.0 million secured revolving credit facility with a bank. The proceeds of the facility were used to partly fund the acquisition of a 1,700 TEU container vessel, which also serves as security for this facility. The facility bears interest at LIBOR plus a margin and has a term of seven years. At June 30, 2014, the available amount under the facility was fully drawn. The net amount outstanding at June 30, 2014 was $4.0 million (December 31, 2013: $5.0 million).
$49 million secured term loan and revolving credit facility
In March 2008, two wholly-owned subsidiaries of the Company entered into a $49.0 million secured term loan and revolving credit facility with a bank. The proceeds of the facility were used to partly fund the acquisition of two newbuilding chemical tankers, which also serve as the security for this facility. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of ten years. At June 30, 2014, the available amount under the revolving part of the facility was $0.2 million. The net amount outstanding at June 30, 2014, was $28.3 million (December 31, 2013: $25.6 million).
$43 million secured term loan facility
In February 2010, a wholly-owned subsidiary of the Company entered into a $42.6 million secured term loan facility with a bank, secured against a Suezmax tanker. The facility bears interest at LIBOR plus a margin and has a term of approximately five years. The net amount outstanding at June 30, 2014, was $30.5 million (December 31, 2013: $32.0 million).
$725 million secured term loan and revolving credit facility
In March 2010, the Company entered into a $725.0 million secured term loan and revolving credit facility with a syndicate of banks that was secured by 26 vessels chartered to Frontline. Nine of these vessels were sold during 2011, 2012 and 2013 and the facility is secured against the remaining 17 vessels at June 30, 2014. The facility bears interest at LIBOR plus a margin and is repayable over a term of five years. At June 30, 2014, the available amount under the revolving part of the facility was $78.7 million. The net amount outstanding at June 30, 2014, was $171.9 million (December 31, 2013: $158.8 million).
$43 million secured term loan facility
In March 2010, a wholly-owned subsidiary of the Company entered into a $42.6 million secured term loan facility with a bank, secured against a Suezmax tanker. The facility bears interest at LIBOR plus a margin and has a term of five years. The net amount outstanding at June 30, 2014, was $30.5 million (December 31, 2013: $32.0 million).
$54 million secured term loan facility
In November 2010, two wholly-owned subsidiaries of the Company entered into a $53.7 million secured term loan facility with a bank, secured by two Supramax drybulk carriers. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of eight years. The net amount outstanding at June 30, 2014, was $40.0 million (December 31, 2013: $42.0 million).

$95 million secured term loan and revolving credit facility
In February 2011, a wholly-owned subsidiary of the Company entered into a $95.0 million secured term loan and revolving credit facility with a bank, secured by a jack-up drilling rig. The facility bears interest at LIBOR plus a margin and has a term of seven years. At June 30, 2014, the available amount under the revolving part of the facility was fully drawn. The net amount outstanding at June 30, 2014, was $62.5 million (December 31, 2013: $47.5 million).
$75 million secured term loan facility
In March 2011, three wholly-owned subsidiaries of the Company entered into a $75.4 million secured term loan facility with a bank, secured by three newbuilding Supramax drybulk carriers, two of which were delivered in 2011 and one which was delivered in 2012. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of approximately eight years. The net amount outstanding at June 30, 2014, was $59.6 million (December 31, 2013: $62.5 million).
$171 million secured term loan facility
In May 2011, eight wholly-owned subsidiaries of the Company entered into a $171.0 million secured loan facility with a syndicate of banks. The facility is supported by China Export & Credit Insurance Corporation, or SINOSURE, who has provided an insurance policy in favour of the banks for part of the outstanding loan. The facility is secured by a 1,700 TEU container vessel, and seven Handysize drybulk carriers. The facility bears interest at LIBOR plus a margin and has a term of approximately ten years from delivery of each vessel. The net amount outstanding at June 30, 2014, was $140.3 million (December 31, 2013: $146.3 million).
$55 million secured securities financing agreement
In June 2011, the Company entered into a $55.0 million securities financing agreement with a bank. The facility may be used to fund up to 50% of the acquisition cost of securities we may acquire from time to time. The facility bears interest at US Federal funds rate plus a margin and will be secured against the relevant securities. The facility had not been utilized as at June 30, 2014. The amount available under this facility at June 30, 2014, was $19.9 million (December 31, 2013: $28.2 million).
$167 million secured term loan and revolving credit facility
In July 2011, five wholly-owned subsidiaries entered into a $166.8 million secured term loan and revolving credit facility agreement with a syndicate of banks. The proceeds of the facility were used to refinance a facility which matured in June 2012. The facility bears interest at LIBOR plus a margin, has a term of six years from drawdown and was secured against five VLCCs. Two of the VLCCs were sold in 2013 and the facility is now secured against the three remaining VLCCs. At June 30, 2014, the available amount under the revolving part of the facility was fully drawn. The net amount outstanding at June 30, 2014, was $78.0 million (December 31, 2013: $74.5 million).
$184 million secured term loan facility
In March 2012, four wholly-owned subsidiaries of the Company entered into a $184.0 million secured term loan facility with a bank, secured by four newbuilding container vessels. The facility bears interest at LIBOR plus a margin and had a term of approximately twelve years from delivery of each vessel. The facility was for both pre- and post-delivery financing. Two of the newbuilding contracts were cancelled in December 2013 and February 2014, respectively. The two remaining newbuilding contracts were cancelled in April and May 2014, respectively, and all amounts outstanding under the facility have been prepaid and the facility cancelled as at June 30, 2014. The net amount outstanding at June 30, 2014, was $nil (December 31, 2013: $64.4 million).

$53 million secured term loan facility
In November 2012, two wholly-owned subsidiaries of the Company entered into a $53.2 million secured term loan facility with a bank, secured against two car carriers. The facility bears interest at LIBOR plus a margin and has a term of approximately five years. The net amount outstanding at June 30, 2014 was $47.1 million (December 31, 2013: $48.8 million).
$70 million secured term loan facility
In June 2013, the Company entered into a $70.0 million secured term loan facility with a syndicate of banks in order to partly finance the pre-delivery costs of the harsh-environment jack-up drilling rig West Linus, secured against the newbuilding contract for the rig. The facility bore an interest at LIBOR plus a margin and was repayable upon delivery of the rig which occurred on February 18, 2014. The facility was repaid with the proceeds from the $475.0 million five year post-delivery term loan and revolving credit facility which SFL Linus entered into in October 2013. The net amount outstanding at June 30, 2014, was $nil (December 31, 2013: $70.0 million).
$45 million secured term loan facility and revolving credit facility
In June 2014, seven wholly-owned subsidiaries of the Company entered into a $45.0 million secured term loan facility with a bank. The facility is secured by seven 4,100 TEU container vessels. The facility bears interest at LIBOR plus a margin and has a term of approximately five years from drawdown. At June 30, 2014, the available amount under the revolving part of the facility was fully drawn. The net amount outstanding at June 30, 2014, was $45.0 million (December 31, 2013: $nil).

The aggregate book value of assets pledged as security against borrowings at June 30, 2014, was $1,966 million (December 31, 2013: $1,994 million).

Agreements related to long-term debt provide limitations on the amount of total borrowings and secured debt, and acceleration of payment under certain circumstances, including failure to satisfy certain financial covenants. As of June 30, 2014, the Company is in compliance with all of the covenants under its long-term debt facilities. The $149.0 million secured term loan facility entered into in August 2007 contains certain financial covenants on Deep Sea Supply BTG B.V. and the $77.0 million secured term loan facility entered into in January 2008 contains certain financial covenants on Deep Sea Supply Plc. and Deep Sea Supply BTG B.V. As at June 30, 2014, Deep Sea Supply Plc. and Deep Sea Supply BTG B.V. were in compliance with all covenants under the respective loan agreements.

FINANCIAL_INSTRUMENTS

FINANCIAL INSTRUMENTS

6 Months Ended

Jun. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

FINANCIAL INSTRUMENTS

In certain situations, the Company may enter into financial instruments to reduce the risk associated with fluctuations in interest rates and exchange rates. The Company has a portfolio of swaps which swap floating rate interest to fixed rate, and which also fix the Norwegian kroner to US dollar exchange rate applicable to the interest payable and principal repayment on the NOK denominated bonds due 2017 and 2019. From a financial perspective, these swaps hedge interest rate and exchange rate exposure. The counterparties to such contracts are Nordea Bank Finland Plc, ABN AMRO Bank N.V., BNP Paribas, NIBC Bank N.V., Scotiabank Europe Plc, Skandinaviska Enskilda Banken AB (publ), ING Bank N.V., Lloyds Banking Group Plc, Credit Agricole Corporate and Investment Bank, Danske Bank A/S and Swedbank AB (publ). 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 all banks which have provided the Company with loans to which the swaps relate.

The following table presents the fair values of the Company’s derivative instruments that were designated as cash flow hedges and qualified as part of a hedging relationship, and those that were not designated:

(in thousands of $)

June 30, 2014

December 31, 2013

Designated derivative instruments - Assets:

Interest rate swaps

646

6,565

Cross currency interest rate swaps

—

Non-designated derivative instruments - Assets:

Interest rate swaps

6,674

10,068

Cross currency interest rate swaps

—

Total derivative instruments - non-current assets

7,320

16,633

(in thousands of $)

June 30, 2014

December 31, 2013

Designated derivative instruments -short-term liabilities:

Interest rate swaps

1,987

2,279

Cross currency interest rate swaps

—

3,358

Non-designated derivative instruments -short-term liabilities:

Interest rate swaps

581

—

Cross currency interest rate swaps

—

Total derivative instruments - short-term liabilities

2,568

5,705

(in thousands of $)

June 30, 2014

December 31, 2013

Designated derivative instruments - long-term liabilities:

Interest rate swaps

42,691

44,006

Cross currency interest rate swaps

14,974

8,915

Non-designated derivative instruments - long-term liabilities:

Interest rate swaps

1,782

3,183

Cross currency interest rate swaps

533

386

Total derivative instruments - long-term liabilities

59,980

56,490

Interest rate risk management

The Company manages its debt portfolio with interest rate swap agreements denominated in U.S. dollars and Norwegian kroner to achieve an overall desired position of fixed and floating interest rates. At June 30, 2014, the Company and its consolidated subsidiaries had entered into interest rate swap transactions, involving the payment of fixed rates in exchange for LIBOR or NIBOR, as summarized below. The summary includes all swap transactions, most of which are hedges against specific loans.

(in thousands of $)

Notional Principal as at June 30, 2014

Inception date

Maturity date

Fixed interest rate

$167,895 (reducing to $122,632)

Mar-10

Mar-15

1.96% - 2.22%

$69,713 (reducing to $69,713)

Sep-12

Sep-14

4.85%

$35,686 (reducing to $24,794)

Mar-08

Aug-18

4.05% - 4.15%

$40,002 (reducing to $23,394)

Apr-11

Dec-18

2.13% - 2.80%

$59,591 (reducing to $34,044)

May-11

Jan-19

0.80% - 2.58%

$100,000 (remaining at $100,000)

Aug-11

Aug-21

2.50% - 2.93%

$173,142 (reducing to $153,804)

Apr-12

May-19

3.67% - 3.77%

$176,333 (reducing to $79,733)

May-12

Aug-22

1.76% - 1.85%

$105,436 (equivalent to NOK600 million)

Oct-12

Oct-17

5.92% - 6.23%

$46,550 (reducing to $32,142)

Feb-13

Dec-17

0.81% - 0.82%

$100,000 (remaining at $100,000)

Mar-13

Apr-23

1.85% - 1.97%

$151,008 (equivalent to NOK900 million)

Mar-14

Mar-19

6.03%

* These swaps relate to the NOK600 million and NOK900 million senior unsecured bonds due 2017 and 2019 respectively, and the fixed interest rates paid are exchanged for the NIBOR plus the margin on the bonds. For the remaining swaps the fixed interest rate paid is exchanged for LIBOR, excluding margin on the underlying loans.

As at June 30, 2014, the total notional principal amount subject to such swap agreements was $1,225.4 million (December 31, 2013: $1,188.0 million).

Foreign currency risk management

The Company has entered into currency swap transactions, involving the payment of U.S. dollars in exchange for Norwegian kroner, which are designated as hedges against the NOK600 million senior unsecured bonds due 2017 and NOK900 million senior unsecured bonds due 2019.

Principal Receivable

Principal Payable

Inception date

Maturity date

NOK600 million

105.4

million

Oct-12

Oct-17

NOK900 million

151

million

Mar-14

Mar-19

Apart from the NOK600 million and NOK900 million senior unsecured bonds due 2017 and 2019, respectively, the majority of the Company’s transactions, assets and liabilities are denominated in U.S. dollars, the functional currency of the Company. Other than the corresponding currency swap transactions summarized above, the Company has not entered into forward contracts for either transaction or translation risk. Accordingly, there is a risk that currency fluctuations could have an adverse effect on the Company’s cash flows, financial condition and results of operations.

Fair Values

The carrying value and estimated fair value of the Company’s financial assets and liabilities at June 30, 2014 and December 31, 2013 are as follows:

June 30, 2014

December 31, 2013

(in thousands of $)

Carrying value

Fair value

Carrying value

Fair value

Non-derivatives:

Available for sale securities

61,889

76,925

Floating rate NOK bonds due 2014

—

71,854

72,032

Floating rate NOK bonds due 2017

93,231

97,152

92,483

93,752

Floating rate NOK bonds due 2019

145,388

145,387

—

3.75% unsecured convertible bonds due 2016

125,000

135,516

125,000

130,589

3.25% unsecured convertible bonds due 2018

350,000

398,598

350,000

359,307

Derivatives:

Interest rate/ currency swap contracts - short-term and long-term receivables

7,320

16,633

Interest rate/ currency swap contracts - short-term payables

2,568

5,705

Interest rate/ currency swap contracts - long-term payables

59,980

56,490

The above long-term receivables relating to interest rate/ currency swap contracts at June 30, 2014, include $6.7 million which relates to non-designated swap contracts (December 31, 2013: $10.1 million), with the balance relating to designated hedges. The above short-term payables relating to interest rate/ currency swap contracts at June 30, 2014, include $0.6 million which relates to non-designated swap contracts (December 31, 2013: $0.1 million), with the balance relating to designated hedges. The above long-term payables relating to interest rate/ currency swap contracts at June 30, 2014, include $2.3 million which relates to non-designated swap contracts (December 31, 2013: $3.6 million), with the balance relating to designated hedges.

In accordance with the accounting policy relating to interest rate and currency swaps described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2013, where the Company has designated the swap as a hedge, and to the extent that the hedge is effective, changes in the fair values of interest rate swaps are recognized in other comprehensive income. Changes in the fair value of other swaps and the ineffective portion of swaps designated as hedges are recognized in the Consolidated Statement of Operations.

The above fair values of financial assets and liabilities as at June 30, 2014, were measured as follows:

Fair value measurements using

(in thousands of $)

June 30, 2014

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable Inputs

Unobservable

Identical Assets/Liabilities

(Level 2)

Inputs

(Level 1)

(Level 3)

Assets:

Available for sale securities

61,889

39,811

22,078

Interest rate/ currency swap contracts - long-term receivables

7,320

Total assets

69,209

39,811

7,320

22,078

Liabilities:

Floating rate NOK bonds due 2017

97,152

Floating rate NOK bonds due 2019

145,387

3.75% unsecured convertible bonds due 2016

135,516

3.25% unsecured convertible bonds due 2018

398,598

Interest rate/ currency swap contracts – short-term payables

2,568

Interest rate/ currency swap contracts – long-term payables

59,980

Total liabilities

839,201

776,653

62,548

—

Fair value is measured in accordance with FASB ASC Topic 820 “Fair Value Measurement and Disclosures”. ASC 820 establishes a fair value hierarchy as follows:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable market based inputs other than quoted prices or unobservable inputs that are corroborated by market data.

Level 3 - Unobservable inputs for assets or liabilities that are not corroborated by market data.

Listed available-for-sale securities are recorded at fair value, being their market value as at the balance sheet date. The fair value of unlisted available for sale securities, which at June 30, 2014, comprise unlisted corporate bonds, is a Level 3 input and is determined from an analysis of projected cash flows, based on factors including the terms, provisions and other characteristics of the bonds, credit ratings and default risk of the issuing entity, the fundamental financial and other characteristics of that entity, and the current economic environment and trading activity in the debt market.

The estimated fair values for the floating rate NOK denominated bonds due 2017 and 2019, the 3.75% and the 3.25% unsecured convertible bonds due 2016 and 2018 respectively, are all based on their quoted market prices as at the balance sheet date.

The fair value of interest rate and currency swap contracts is calculated using a well-established independent valuation technique applied to contracted cash flows and LIBOR/NIBOR interest rates as at June 30, 2014.

Concentrations of risk

There is a concentration of credit risk with respect to cash and cash equivalents to the extent that most of the amounts are carried with Skandinaviska Enskilda Banken, ABN AMRO, Danske Bank and Nordea. However, the Company believes this risk is remote.

Since the Company was spun-off from Frontline in 2004, Frontline has accounted for a major proportion of our consolidated operating revenues. In the six months ended June 30, 2014, Frontline accounted for approximately 38% of our consolidated operating revenues (for the six months ended June 30, 2013: 41%, for the year ended December 31, 2013: 38%). There is thus a concentration of revenue risk with Frontline. The consolidated operating revenues for the six months ended June 30, 2014, do not include the operating revenues of $52.7 million (for the six months ended June 30, 2013: $64.3 million, for the year ended December 31, 2013: $122.8 million) reported by our subsidiaries accounted for using the equity method, none of which were earned from Frontline.

SHARE_CAPITAL_ADDITIONAL_PAIDI

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS	6 Months Ended
	Jun. 30, 2014
Stockholders' Equity Note [Abstract]	'
SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS	'
	SHARE CAPITAL ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS


	Authorized share capital is as follows:


	(in thousands of $, except share data)	June 30, 2014	December 31, 2013

	125,000,000 common shares of $1.00 par value each	125,000	125,000


	Issued and fully paid share capital is as follows:


	(in thousands of $, except share data)	June 30, 2014	December 31, 2013

	93,359,000 common shares of $1.00 par value each (December 31, 2013: 93,260,000 shares)	93,359	93,260


	The Company’s common shares are listed on the New York Stock Exchange.

	During the six months ended June 30, 2014, the Company issued a total of 99,000 shares in order to satisfy options exercised by two employees and one director. The weighted average exercise price of the options was $4.68 per share. resulting in a premium on issue of $0.4 million. In addition, during the period, an officer exercised options and in lieu of issuing new shares, the Company made a payment totaling $1.2 million, equal to the intrinsic value of the options on the date of exercise. This amount is accounted for as a repurchase of the Company's shares and the payment is recorded as a reduction of additional paid-in capital.

	The Company has accounted for the acquisition of vessels from Frontline at Frontline’s historical carrying value. The difference between the historical carrying values and the net investment in the leases has been recorded as a deferred deemed equity contribution, which is presented as a reduction in net investment in direct financing leases in the balance sheet. This accounting treatment arises from the related party nature of both the initial transfer of the vessels and the subsequent leases. The deferred deemed equity contribution is amortized to contributed surplus over the life of the lease arrangements, as lease payments are applied to the principal balance of the lease receivable. In the six months ended June 30, 2014, the Company has credited contributed surplus with $2.3 million of such deemed equity contributions (year ended December 31, 2013: $20.2 million).

SHARE_OPTION_PLAN

SHARE OPTION PLAN	6 Months Ended
SHARE OPTION PLAN	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
SHARE OPTION PLAN	'
	SHARE OPTION PLAN
	No options were granted in the six months ended June 30, 2014.
	As of June 30, 2014 there were no unrecognized compensation costs related to non-vested options granted under the Company's existing share option scheme (December 31, 2013: $29,100).

EARNINGS_PER_SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	EARNINGS PER SHARE
	The computation of basic earnings per share (“EPS”) is based on the weighted average number of shares outstanding during the period. Diluted EPS includes the effect of the assumed conversion of potentially dilutive instruments.
	The components of the numerator for the calculation of basic and diluted EPS are as follows:



		Six months ended June 30,		Year ended December 31,
	(in thousands of $)	2014	2013	2013

	Basic:
	Net income available to stockholders	63,092	57,442	89,206

	Diluted:
	Net income available to stockholders	63,092	57,442	89,206

	Interest expense on convertible bonds	11,203	7,102	5,092

		74,295	64,544	94,298


	The components of the denominator for the calculation of basic and diluted EPS are as follows:


		Six months ended June 30,		Year ended December 31,
	(in thousands)	2014	2013	2013

	Basic earnings per share:
	Weighted average number of common shares outstanding	93,277	85,694	89,508

	Diluted earnings per share:
	Weighted average number of common shares outstanding	93,277	85,694	89,508

	Effect of dilutive share options	58	82	163

	Effect of dilutive convertible debt	23,333	22,220	5,753

		116,668	107,996	95,424

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	RELATED PARTY TRANSACTIONS
	The Company, which was formed in 2003 as a wholly-owned subsidiary of Frontline, was partially spun-off in 2004 and its shares commenced trading on the New York Stock Exchange in June 2004. A significant proportion of the Company’s business continues to be transacted with related parties.
	The Company has transactions with the following related parties being companies in which our principal shareholders Hemen Holding Ltd. and Farahead Investment Inc. (hereafter jointly referred to as “Hemen”) and companies associated with Hemen have a significant direct or indirect interest:

	•Frontline
	•Frontline Shipping and Frontline Shipping II (collectively Frontline Charterers)
	•Seadrill
	•NADL
	•Golden Ocean Group Limited (“Golden Ocean”)
	•Deep Sea
	•Golar LNG Limited (“Golar”)
	•United Freight Carriers LLC ("UFC")

	The Condensed Consolidated Balance Sheets include the following amounts due from and to related parties and associated companies, excluding direct financing lease balances (Note 6):


	(in thousands of $)	30-Jun-14		31-Dec-13

	Amounts due from:
	Frontline Charterers	13,424		—

	Frontline	6,101		10,016

	UFC	786		770

	NADL	—		2,163

	Seadrill	100		300

	Current accounts due from associated companies	9,104		—

	Other related parties	689		—

	Total amount due from related parties	30,204		13,249

	Loans to related parties - associated companies, long-term
	SFL West Polaris	99,171		100,383

	SFL Deepwater	109,088		115,222

	SFL Hercules	145,000		120,110

	SFL Linus	125,000		195,000

	Total loans to related parties - associated companies, long-term	478,259		530,715

	Loans to related parties - others, long-term
	Frontline Ltd	45,701		48,847

	Total loans to related parties - others, long-term	45,701		48,847

	Amounts due to:
	Frontline Charterers	229		815

	Frontline Management	1,589		1,011

	Bluelot	—		6,064

	Corte Real	—		6,018

	Deep Sea	89		—

	Other related parties	32		57

Total amount due to related parties	1,939		13,965

SFL West Polaris, SFL Deepwater, SFL Hercules and SFL Linus are wholly-owned subsidiaries which are not fully consolidated but are accounted for under the equity method as at June 30, 2014 within the financial statements (see Note 7). As described below in "Related party loans", at June 30, 2014 the long-term loans from Ship Finance to SFL West Polaris, SFL Deepwater, SFL Hercules and SFL Linus, are presented net of their respective current accounts to the extent that it is an amount due to the associates.
The amounts due to Bluelot and Corte Real in 2013 were balances on the current accounts between those companies and Ship Finance.
Related party leasing and service contracts
As at June 30, 2014, 20 of the Company’s vessels which were leased to the Frontline Charterers (December 31, 2013: 20) and two of its offshore supply vessels which were leased to subsidiaries of Deep Sea (December 31, 2013: two) have been recorded as direct financing leases. In addition, under operating leases at June 30, 2014 were four offshore supply vessels which were leased to subsidiaries of Deep Sea (December 31, 2013: four) and four vessels which were leased to UFC (December 31, 2013: four).
At June 30, 2014, the combined balance of net investments in direct financing leases with the Frontline Charterers and Deep Sea was $883.4 million (December 31, 2013: $1,016.9 million) of which $45.0 million (December 31, 2013: $45.1 million) represents short-term maturities.

At June 30, 2014, the net book value of assets leased under operating leases to UFC and Deep Sea was $205.8 million (December 31, 2013: $212.9 million).

A summary of leasing revenues earned from the Frontline Charterers, UFC and Deep Sea is as follows:



	Six months ended				Year ended

Payments (in millions of $)	30-Jun-14		30-Jun-13		31-Dec-13

Operating lease income	13.9		11		24

Direct financing lease interest income	23.2		28.5		55.4

Finance lease service revenue	23.5		26.7		52.4

Direct financing lease repayments	22.5		24.2		47.4

Cash sweep and profit share income	14.3		0.1		0.8


In addition, the Company paid the following fees:


	Six months ended				Year ended

Payments (in millions of $)	June 30, 2014		June 30, 2013		December 31, 2013

Frontline Charterers:
Vessel Management Fees	24.5		27.5		54.2

Management Supervision Fees	1.6		1.2		2.4

Administration Services and other	0.3		0.2		0.4

Golden Ocean:
Operating Management Fees	0.4		0.3		0.7

Office Facilities:
Golar Management UK Limited	0.1		0.1		0.2

Frontline Management AS	0.2		0.2		0.3

Related party loans – associated companies
In 2010, Ship Finance entered into agreements with the wholly owned subsidiaries SFL West Polaris and SFL Deepwater granting fixed interest loans to them of $145.0 million and $290.0 million, respectively. These loans are repayable in full on July 11, 2023, and October 1, 2023, respectively, or earlier if the companies sell their drilling units. In June 2013, SFL Deepwater repaid $145.0 million of its debt to Ship Finance following the transfer of one of its rigs to SFL Hercules. In June 2013, Ship Finance granted a loan of $145.0 million to SFL Hercules on the same terms as that of SFL Deepwater. In addition, Ship Finance entered into a loan agreement with the wholly owned subsidiary SFL Linus in the amount $195.0 million. In February 2014, SFL Linus repaid $70.0 million of its debt to Ship Finance and began paying a fixed interest on the remaining balance which is repayable in full on June 30, 2029 or earlier if the subsidiary sells its drilling unit.
Ship Finance is entitled to take excess cash from these companies, and such amounts are recorded within their current accounts with Ship Finance. The loan agreements specify that the balance on the current accounts will have no interest applied and will be settled by offset against the eventual repayments of the fixed interest loans to the extent that it is a receivable from Ship Finance. In the six months ended June 30, 2014, the Company accrued interest income on these loans of $3.3 million from SFL West Polaris (six months ended June 30, 2013: $3.3 million; year ended December 31, 2013: $6.5 million), $3.3 million from SFL Deepwater (six months ended June 30, 2013: $6.3 million, year ended December 31, 2013: $9.6 million), $3.3 million from SFL Hercules (six months ended June 30, 2013: $0.2 million, year ended December 31, 2013: $3.5 million) and $2.1 million from SFL Linus (six months ended June 30, 2013: $nil, year ended December 31, 2013: $nil).

COMMITMENTS_AND_CONTINGENT_LIA

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENT LIABILITIES	'
	COMMITMENTS AND CONTINGENT LIABILITIES
	Assets Pledged


	(in millions of $)	June 30, 2014
	Book value of consolidated assets pledged under ship mortgages	$1,966

	The Company and its equity-accounted subsidiaries have funded their acquisition of vessels, jack-up rig and ultra deepwater drilling units through a combination of equity, short-term debt and long-term debt. Providers of long-term loan facilities usually require that the loans be secured by mortgages against the assets being acquired. As at June 30, 2014, the Company ($1.7 billion) and its equity-accounted subsidiaries ($1.5 billion) had a combined outstanding indebtedness of $3.2 billion (December 31, 2013: $2.9 billion) under various credit facilities. Substantially all of the Company’s vessels and rigs have been pledged under mortgages in respect of this outstanding indebtedness excluding two 1,700 TEU container vessels built in 2005 and two 5,800 TEU container vessels. Additionally, the four newbuilding 8,700 TEU container vessels currently under construction and the two 82,000 dwt Kamsarmax dry-bulk carriers built in 2012 which the Company has paid deposits on, are not pledged under mortgages.
	Other Contractual Commitments
	The Company has arranged insurance for the legal liability risks for its shipping activities with Assuranceforeningen SKULD, Assuranceforeningen Gard Gjensidig and Britannia Steam Ship Insurance Association Limited, all mutual protection and indemnity associations. On certain of the vessels insured, the Company is subject to calls payable to the associations based on the Company’s 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 may result in additional calls on the members.

	The Company has provided guarantees for the secured term loan facilities relating to SFL West Polaris, SFL Deepwater, SFL Hercules and SFL Linus which are wholly-owned subsidiaries of the Company accounted for using the equity method. The assets and liabilities of these subsidiaries including their loan facilities are presented on the Company's balance sheet on a net basis within ‘Investment in associated companies’. As of June 30, 2014, the guarantees provided by the Company to the providers of these entities’ loan facilities were limited to $359 million (December 31, 2013: $280 million) on an aggregate basis. As of June 30, 2014, the combined outstanding balance of these entities’ loan facilities was $1.5 billion (December 31, 2013: $1.1 billion).

	At June 30, 2014, the Company had contractual commitments under acquisition agreements and newbuilding contracts totaling $256.7 million (December 31, 2013: $794.8 million).

	The Company is routinely party both as plaintiff and defendant to lawsuits in various jurisdictions under charter hire obligations arising from the operation of its vessels in the ordinary course of business. The Company believes that the resolution of such claims will not have a material adverse effect on its results of operations or financial position. The Company has not recognized any contingent gains or losses arising from the pending results of any such lawsuits.

CONSOLIDATED_VARIABLE_INTEREST

CONSOLIDATED VARIABLE INTEREST ENTITIES	6 Months Ended
CONSOLIDATED VARIABLE INTEREST ENTITIES	Jun. 30, 2014
CONSOLIDATED VARIABLE INTEREST ENTITIES [Abstract]	'
CONSOLIDATED VARIABLE INTEREST ENTITIES	'
	CONSOLIDATED VARIABLE INTEREST ENTITIES

	The Company’s consolidated financial statements include 18 variable interest entities, all of which are wholly-owned subsidiaries. These subsidiaries own vessels with existing charters during which related and third parties have fixed price options to purchase the respective vessels, at dates varying from September 2014 to March 2020. It has been determined that the Company is the primary beneficiary of these entities, as none of the purchase options are deemed to be at bargain prices and none of the charters include sales options.
	At June 30, 2014, the vessels of two of these entities are accounted for as direct financing leases with a combined carrying value of $69.6 million, unearned lease income of $18.4 million and estimated residual values of $21.7 million. The outstanding loan balances in these two entities total $35.9 million, of which the short-term portion is $35.9 million.
	The other 16 fully consolidated variable interest entities each own vessels which are accounted for as operating lease assets, with a total net book value at June 30, 2014, of $388.0 million. The outstanding loan balances in these entities total $205.5 million, of which the short-term portion is $82.3 million.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS

	In May 2014, the Company agreed to acquire two 82,000 dwt Kamsarmax dry-bulk carriers built in 2012, in combination with long-term time-charters to a state-owned Chinese charterer. The vessels were delivered in July 2014 and August 2014.

	In May 2014, Ship Finance agreed long-term time-charters for four 8,700 TEU newbuilding container vessels, currently under construction in Korea. The charterer is a major container line company, and the charter period will be seven years from delivery of each vessel. Two of the vessels are expected to be delivered to us in 2014, and the remaining two in the first quarter of 2015.
	In July 2014, the Company agreed to sell the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce to an unrelated third party. The Company has simultaneously agreed to terminate the corresponding charter parties with a subsidiary of Frontline. The vessels are expected to be delivered to the new owners in the fourth quarter of 2014 and the Company expects to receive cash proceeds of approximately $77.5 million, including approximately $10.5 million upfront payment from Frontline. In addition, we will receive approximately $48.3 million in 7.25% amortizing notes from Frontline. The amortization profile and maturity of the notes will match the current charters for the three vessels, with reduced rates until 2015 and full rates from 2016.
	In August 2014, the Company refinanced the outstanding balances under two of our existing loan facilities, the $149 million and the $77 million secured term loan facilities and arranged a new long- term facility of $101.4 million.

INTERIM_FINANCIAL_DATA_Policie

INTERIM FINANCIAL DATA (Policies)	6 Months Ended
INTERIM FINANCIAL DATA (Policies)	Jun. 30, 2014
INTERIM FINANCIAL DATA [Abstract]	'
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Basis of accounting
	The condensed consolidated financial statements are prepared in accordance with US GAAP. The condensed consolidated financial statements include the assets and liabilities and results of operations of the Company and its subsidiaries including variable interest entities in which the Ship Finance is deemed to be the primary beneficiary. All inter-company balances and transactions have been eliminated on consolidation.
	The condensed consolidated financial statements are prepared in accordance with the accounting policies described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2013.
	New Accounting Pronouncements
	Accounting Standards Update No. 2014-09-Revenue from Contracts with Customers (Topic 606). The Financial Accounting Standards Board (FASB) and the International Accounting Standard Board (IASB) initiated a joint project to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS. To meet those objectives, the FASB is amending the FASB Accounting Standards Codification and creating a new Topic 606, Revenue from Contracts with Customers, and the IASB is issuing IFRS 15, Revenue from Contracts with Customers. The issuance of these documents completes the joint effort by the FASB and the IASB to meet those objectives and improve financial reporting by creating common revenue recognition guidance for US GAAP and IFRS. The amendments in this Update are effective for the Company for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Company is currently considering the impact of these amendments on its consolidated financial statements.

AVAILABLE_FOR_SALE_SECURITIES_

AVAILABLE FOR SALE SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
Available-for-sale debt securities	'
	Marketable securities held by the Company are debt securities considered to be available-for-sale securities.



	(in thousands of $)	June 30, 2014	December 31, 2013

	Amortized cost	60,967	75,657

	Accumulated net unrealized gain	922	1,268

	Carrying value	61,889	76,925

VESSELS_AND_EQUIPMENT_NET_Tabl

VESSELS AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]	'
Vessels and equipment	'


	(in thousands of $)	June 30,		December 31,
		2014		2013
	Cost	1,488,475		1,360,605

	Accumulated depreciation	(302,650	)	(270,989	)
	Vessels and equipment, net	1,185,825		1,089,616

INVESTMENTS_IN_DIRECT_FINANCIN1

INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES (Tables)	6 Months Ended
	Jun. 30, 2014
Net Investment in Direct Financing and Sales Type Leases [Abstract]	'
Components of the investments in direct financing and sales-type leases	'
	The following lists the components of the investments in direct financing leases as at June 30, 2014.


	(in thousands of $)	June 30, 2014		December 31, 2013

	Total minimum lease payments to be received	1,420,226		1,490,111

	Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	(408,932	)	(432,463	)
	Net minimum lease payments receivable	1,011,294		1,057,648

	Estimated residual values of leased property (un-guaranteed)	278,152		278,152

	Less: unearned income	(295,057	)	(318,910	)
		994,389		1,016,890

	Less: deferred deemed equity contribution	(104,057	)	(106,377	)
	Less: unamortized gains	(6,923	)	(7,105	)
	Total investment in direct financing and sales-type leases	883,409		903,408


	Current portion	44,978		45,148

	Long-term portion	838,431		858,260

		883,409		903,408

INVESTMENT_IN_ASSOCIATED_COMPA1

INVESTMENT IN ASSOCIATED COMPANIES (Tables)	6 Months Ended
	Jun. 30, 2014
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]	'
Percentage participation using the equity method of accounting	'
	At June 30, 2014, June 30, 2013 and December 31, 2013, the Company has the following participation in investments that are recorded using the equity method:



		June 30, 2014			June 30, 2013			December 31, 2013

	SFL West Polaris Limited (“SFL West Polaris”)	100	%		100	%		100	%
	SFL Deepwater Ltd (“SFL Deepwater”)	100	%		100	%		100	%
	Bluelot Shipping Company Limited (“Bluelot”)	—			100	%		100	%

	SFL Corte Real Limited (“Corte Real”)	—			100	%		100	%

	SFL Hercules Ltd ("SFL Hercules")	100	%		100	%		100	%
	SFL Linus Ltd ("SFL Linus")	100	%		100	%		100	%
Summarized financial statement information of equity method investees	'
	Summarized balance sheet information of the Company’s equity method investees is as follows:



		As of June 30, 2014
	(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
								Real			Polaris		Deepwater
	Current assets	206,247			—			—			33,298		74,020		45,939		52,990

	Non-current assets	1,821,527			—			—			442,708		411,647		414,065		553,107

	Total assets	2,027,774			—			—			476,006		485,667		460,004		606,097

	Current liabilities	215,193			—			—			38,583		85,065		37,282		54,263

	Non-current liabilities	1,771,619			—			—			432,169		372,421		415,000		552,029

	Total Liabilities	1,986,812			—			—			470,752		457,486		452,282		606,292

	Total stockholders’ equity	40,962			—			—			5,254		28,181		7,722		(195	)




		As of December 31, 2013
	(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
								Real			Polaris		Deepwater
	Current assets	205,916			9,780			9,857			34,412		94,981		56,886		—

	Non-current assets	1,516,033			—			—			458,558		432,755		429,720		195,000

	Total assets	1,721,949			9,780			9,857			492,970		527,736		486,606		195,000

	Current liabilities	159,847			3,523			3,646			38,337		85,240		29,101		—

	Non-current liabilities	1,521,115			—			—			451,384		418,554		453,860		197,317

	Total Liabilities	1,680,962			3,523			3,646			489,721		503,794		482,961		197,317

	Total stockholders’ equity	40,987			6,257			6,211			3,249		23,942		3,645		(2,317	)

	Summarized statement of operations information of the Company’s equity method investees is as follows:



		Six months ended June 30, 2014
	(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
								Real			Polaris		Deepwater
	Operating revenues	52,653			1,171			2,492			11,151		12,936		12,686		12,217

	Net operating revenues	49,601			232			431			11,136		12,924		12,672		12,206

	Net income/ (loss)	14,019			232			431			2,005		4,239		4,077		3,035




		Six months ended June 30, 2013
	(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
								Real			Polaris		Deepwater
	Operating revenues	64,339			9,858			9,883			12,168		31,804		626		—

	Net operating revenues	46,803			1,112			1,112			12,150		31,804		625		—

Net income	15,530			1,112			1,112			1,163		12,381		(238	)	—




	Year ended December 31, 2013
(in thousands of $)	TOTAL			Bluelot			Corte			SFL West		SFL		SFL Hercules		SFL Linus
							Real			Polaris		Deepwater
Operating revenues	122,792			19,490			19,624			23,701		46,145		13,832		—

Net operating revenues	88,121			2,261			2,262			23,681		46,109		13,808		—

Net income	28,200			2,261			2,261			2,324		17,747		3,645		(38	)

SHORTTERM_AND_LONGTERM_DEBT_Ta

SHORT-TERM AND LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2014
Long-term Debt, by Current and Noncurrent [Abstract]	'
Schedule of short-term and long-term debt	'


	(in thousands of $)	June 30, 2014		December 31, 2013

	Long-term debt:
	NOK500 million senior unsecured floating rate bonds due 2014	—		71,854

	3.75% senior unsecured convertible bonds due 2016	125,000		125,000

	NOK600 million senior unsecured floating rate bonds due 2017	93,231		92,843

	3.25% senior unsecured convertible bonds due 2018	350,000		350,000

	NOK900 million senior unsecured floating rate bonds due 2019	145,388		—

	U.S. dollar denominated floating rate debt (LIBOR plus margin) due through 2026	1,016,396		1,097,182

		1,730,015		1,736,879

	Less: Current portion of long-term debt	(396,963	)	(389,888	)
		1,333,052		1,346,991

Schedule of maturities of debt	'
	The outstanding debt as of June 30, 2014 is repayable as follows:



	(in thousands of $)
	Year ending December 31

	2014 (remaining six months)	156,289

	2015	262,936

	2016	179,591

	2017	183,886

	2018	658,074

	Thereafter	289,239

	Total debt	1,730,015

FINANCIAL_INSTRUMENTS_Tables

FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Fair values of derivative instruments designated and not designated as cash flow hedges	'
	The following table presents the fair values of the Company’s derivative instruments that were designated as cash flow hedges and qualified as part of a hedging relationship, and those that were not designated:



	(in thousands of $)	June 30, 2014			December 31, 2013

	Designated derivative instruments - Assets:
	Interest rate swaps	646			6,565

	Cross currency interest rate swaps	—			—

	Non-designated derivative instruments - Assets:
	Interest rate swaps	6,674			10,068

	Cross currency interest rate swaps	—			—

	Total derivative instruments - non-current assets	7,320			16,633


	(in thousands of $)	June 30, 2014			December 31, 2013

	Designated derivative instruments -short-term liabilities:

	Interest rate swaps	1,987			2,279

	Cross currency interest rate swaps	—			3,358

	Non-designated derivative instruments -short-term liabilities:
	Interest rate swaps	581			—

	Cross currency interest rate swaps	—			68

	Total derivative instruments - short-term liabilities	2,568			5,705

	(in thousands of $)	June 30, 2014			December 31, 2013

	Designated derivative instruments - long-term liabilities:
	Interest rate swaps	42,691			44,006

	Cross currency interest rate swaps	14,974			8,915

	Non-designated derivative instruments - long-term liabilities:
	Interest rate swaps	1,782			3,183

	Cross currency interest rate swaps	533			386

	Total derivative instruments - long-term liabilities	59,980			56,490

Schedule of interest rate swap transactions designated as hedges against specific loans	'
	The summary includes all swap transactions, most of which are hedges against specific loans.



	(in thousands of $)
	Notional Principal as at June 30, 2014	Inception date		Maturity date		Fixed interest rate

	$167,895 (reducing to $122,632)	Mar-10		Mar-15		1.96% - 2.22%
	$69,713 (reducing to $69,713)	Sep-12		Sep-14		4.85%
	$35,686 (reducing to $24,794)	Mar-08		Aug-18		4.05% - 4.15%
	$40,002 (reducing to $23,394)	Apr-11		Dec-18		2.13% - 2.80%
	$59,591 (reducing to $34,044)	May-11		Jan-19		0.80% - 2.58%
	$100,000 (remaining at $100,000)	Aug-11		Aug-21		2.50% - 2.93%
	$173,142 (reducing to $153,804)	Apr-12		May-19		3.67% - 3.77%
	$176,333 (reducing to $79,733)	May-12		Aug-22		1.76% - 1.85%
	$105,436 (equivalent to NOK600 million)	Oct-12		Oct-17		5.92% - 6.23%	*
	$46,550 (reducing to $32,142)	Feb-13		Dec-17		0.81% - 0.82%
	$100,000 (remaining at $100,000)	Mar-13		Apr-23		1.85% - 1.97%
	$151,008 (equivalent to NOK900 million)	Mar-14		Mar-19		6.03%	*
Schedule of currency swap transactions	'
	The Company has entered into currency swap transactions, involving the payment of U.S. dollars in exchange for Norwegian kroner, which are designated as hedges against the NOK600 million senior unsecured bonds due 2017 and NOK900 million senior unsecured bonds due 2019.



	Principal Receivable	Principal Payable				Inception date		Maturity date

	NOK600 million	$	105.4	million		Oct-12		Oct-17
	NOK900 million	$	151	million		Mar-14		Mar-19
Schedule of carrying value and estimated fair value of financial assets and liabilities	'
	The carrying value and estimated fair value of the Company’s financial assets and liabilities at June 30, 2014 and December 31, 2013 are as follows:



		June 30, 2014			June 30, 2014			December 31, 2013	December 31, 2013

	(in thousands of $)	Carrying value			Fair value			Carrying value	Fair value

	Non-derivatives:
	Available for sale securities	61,889			61,889			76,925	76,925

	Floating rate NOK bonds due 2014	—			—			71,854	72,032

	Floating rate NOK bonds due 2017	93,231			97,152			92,483	93,752

	Floating rate NOK bonds due 2019	145,388			145,387			—	—

	3.75% unsecured convertible bonds due 2016	125,000			135,516			125,000	130,589

	3.25% unsecured convertible bonds due 2018	350,000			398,598			350,000	359,307

	Derivatives:
	Interest rate/ currency swap contracts - short-term and long-term receivables	7,320			7,320			16,633	16,633

	Interest rate/ currency swap contracts - short-term payables	2,568			2,568			5,705	5,705

	Interest rate/ currency swap contracts - long-term payables	59,980			59,980			56,490	56,490

Schedule of financial assets and liabilities measured at fair value on a recurring basis	'
	The above fair values of financial assets and liabilities as at June 30, 2014, were measured as follows:



					Fair value measurements using
	(in thousands of $)	June 30, 2014			Quoted Prices in			Significant Other	Significant
					Active Markets for			Observable Inputs	Unobservable
					Identical Assets/Liabilities			(Level 2)	Inputs
					(Level 1)				(Level 3)
	Assets:
	Available for sale securities	61,889			39,811				22,078

	Interest rate/ currency swap contracts - long-term receivables	7,320						7,320

	Total assets	69,209			39,811			7,320	22,078

	Liabilities:
	Floating rate NOK bonds due 2017	97,152			97,152

	Floating rate NOK bonds due 2019	145,387			145,387

	3.75% unsecured convertible bonds due 2016	135,516			135,516

	3.25% unsecured convertible bonds due 2018	398,598			398,598

	Interest rate/ currency swap contracts – short-term payables	2,568						2,568

	Interest rate/ currency swap contracts – long-term payables	59,980						59,980

	Total liabilities	839,201			776,653			62,548	—

SHARE_CAPITAL_ADDITIONAL_PAIDI1

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Tables)	6 Months Ended
	Jun. 30, 2014
Stockholders' Equity Note [Abstract]	'
Schedule of Share Capital	'
	Authorized share capital is as follows:


	(in thousands of $, except share data)	June 30, 2014	December 31, 2013

	125,000,000 common shares of $1.00 par value each	125,000	125,000


	Issued and fully paid share capital is as follows:


	(in thousands of $, except share data)	June 30, 2014	December 31, 2013

	93,359,000 common shares of $1.00 par value each (December 31, 2013: 93,260,000 shares)	93,359	93,260

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Components of calculation of earnings per share	'
	The components of the numerator for the calculation of basic and diluted EPS are as follows:



		Six months ended June 30,		Year ended December 31,
	(in thousands of $)	2014	2013	2013

	Basic:
	Net income available to stockholders	63,092	57,442	89,206

	Diluted:
	Net income available to stockholders	63,092	57,442	89,206

	Interest expense on convertible bonds	11,203	7,102	5,092

		74,295	64,544	94,298


	The components of the denominator for the calculation of basic and diluted EPS are as follows:


		Six months ended June 30,		Year ended December 31,
	(in thousands)	2014	2013	2013

	Basic earnings per share:
	Weighted average number of common shares outstanding	93,277	85,694	89,508

	Diluted earnings per share:
	Weighted average number of common shares outstanding	93,277	85,694	89,508

	Effect of dilutive share options	58	82	163

	Effect of dilutive convertible debt	23,333	22,220	5,753

		116,668	107,996	95,424

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Amounts due from and to related parties, excluding direct financing lease balances	'
	The Condensed Consolidated Balance Sheets include the following amounts due from and to related parties and associated companies, excluding direct financing lease balances (Note 6):


	(in thousands of $)	30-Jun-14	31-Dec-13

	Amounts due from:
	Frontline Charterers	13,424	—

	Frontline	6,101	10,016

	UFC	786	770

	NADL	—	2,163

	Seadrill	100	300

	Current accounts due from associated companies	9,104	—

	Other related parties	689	—

	Total amount due from related parties	30,204	13,249

	Loans to related parties - associated companies, long-term
	SFL West Polaris	99,171	100,383

	SFL Deepwater	109,088	115,222

	SFL Hercules	145,000	120,110

	SFL Linus	125,000	195,000

	Total loans to related parties - associated companies, long-term	478,259	530,715

	Loans to related parties - others, long-term
	Frontline Ltd	45,701	48,847

	Total loans to related parties - others, long-term	45,701	48,847

	Amounts due to:
	Frontline Charterers	229	815

	Frontline Management	1,589	1,011

	Bluelot	—	6,064

	Corte Real	—	6,018

	Deep Sea	89	—

	Other related parties	32	57

	Total amount due to related parties	1,939	13,965

Summary of leasing revenues earned from related parties	'
	A summary of leasing revenues earned from the Frontline Charterers, UFC and Deep Sea is as follows:



		Six months ended		Year ended

	Payments (in millions of $)	30-Jun-14	30-Jun-13	31-Dec-13

	Operating lease income	13.9	11	24

	Direct financing lease interest income	23.2	28.5	55.4

	Finance lease service revenue	23.5	26.7	52.4

	Direct financing lease repayments	22.5	24.2	47.4

	Cash sweep and profit share income	14.3	0.1	0.8


	In addition, the Company paid the following fees:


		Six months ended		Year ended

	Payments (in millions of $)	June 30, 2014	June 30, 2013	December 31, 2013

	Frontline Charterers:
	Vessel Management Fees	24.5	27.5	54.2

	Management Supervision Fees	1.6	1.2	2.4

	Administration Services and other	0.3	0.2	0.4

	Golden Ocean:
	Operating Management Fees	0.4	0.3	0.7

	Office Facilities:
	Golar Management UK Limited	0.1	0.1	0.2

	Frontline Management AS	0.2	0.2	0.3

COMMITMENTS_AND_CONTINGENT_LIA1

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of assets pledged	'
	Assets Pledged


	(in millions of $)	June 30, 2014
	Book value of consolidated assets pledged under ship mortgages	$1,966

GAIN_ON_SALE_OF_ASSETS_AND_TER1

GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Compensation Received on Termination of Charters) (Details) (USD $)	6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Gain (Loss) on Termination of Charters	$15,197,000	$18,025,000	$18,025,000
Handysize Dry Bulk Carrier [Member]	'	'	'
Number of vessels with charter agreement terminated	4	'	'
Compensation payable (receivable) for early contract termination of charter	30,000,000	'	'
Compensation Received on Termination of Charters, Cash	$20,000,000	'	'
Number of installments of deferred compensation payable (receivable) for early contract termination of charter	2	'	'

AVAILABLE_FOR_SALE_SECURITIES_1

AVAILABLE FOR SALE SECURITIES (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]	'	'
Amortized cost	$60,967	$75,657
Accumulated net unrealized gain	922	1,268
Carrying value	$61,889	$76,925

VESSELS_AND_EQUIPMENT_NET_Sche

VESSELS AND EQUIPMENT, NET (Schedule of Vessels and Equipment) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'	'
Cost	$1,488,475	$1,360,605
Accumulated depreciation	-302,650	-270,989
Vessels and equipment, net	$1,185,825	$1,089,616

VESSELS_AND_EQUIPMENT_NET_Deta

VESSELS AND EQUIPMENT, NET (Details) (Container Vessels [Member], USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
	carriers
Container Vessels [Member]	'
Property Subject to or Available for Operating Lease [Line Items]	'
Number Of Container Vessel Acquired	9
Cost of Acquired Vessels	$127.90

NEWBUILDINGS_Details

NEWBUILDINGS (Details) (USD $)	6 Months Ended		12 Months Ended	1 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	31-May-14	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
				8700 TEU Container Vessel [Member]	8700 TEU Container Vessel [Member]	Kamsarmax Dry Bulk Carrier [Member]	4800 TEU Container Vessel [Member]
				vessel		vessel	vessel
							containership
Property, Plant and Equipment [Line Items]	'	'	'	'	'	'	'
Additions to newbuildings	$84,239,000	$64,019,000	$109,337,000	'	$68,000,000	'	'
Number of Vessels Scheduled To Be Delivered	'	'	'	4	'	'	'
Accumulated costs of newbuildings	'	'	'	'	'	$9,300,000	'
Number of newbuilding contracts	'	'	'	'	'	2	'
Number of container vessels contracted to be acquired, canceled	'	'	'	'	'	'	3
Number of Container Vessels Contracted to be Acquired, Canceled and Fully Refunded	'	'	'	'	'	'	2

INVESTMENTS_IN_DIRECT_FINANCIN2

INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES (Details)	6 Months Ended
	Jun. 30, 2014
	Rate
	vessel
Net Investment in Direct Financing and Sales Type Leases [Abstract]	'
Number of VLCCs and Suezmaxes Chartered	20
Term of charters, minimum (in years)	'4 years
Term of charters, maximum (in years)	'13 years
Number of offshore supply vessels chartered on long-term bareboat charters	1
Joint venture, ownership percentage	50.00%
Assets accounted for as direct financing leases and leased to related parties	22

INVESTMENTS_IN_DIRECT_FINANCIN3

INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES (Components of Investments in Direct Financing and Sales-type Leases) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Net Investment in Direct Financing and Sales Type Leases [Abstract]	'	'
Total minimum lease payments to be received	$1,420,226	$1,490,111
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	-408,932	-432,463
Net minimum lease payments receivable	1,011,294	1,057,648
Estimated residual values of leased property (un-guaranteed)	278,152	278,152
Less: unearned income	-295,057	-318,910
Net investment in direct financing and sales-type leases before deferred deemed equity contribution and unamortized gains	994,389	1,016,890
Less: deferred deemed equity contribution	-104,057	-106,377
Less: unamortized gains	-6,923	-7,105
Total investment in direct financing and sales-type leases	883,409	903,408
Current portion	44,978	45,148
Long-term portion	$838,431	$858,260

INVESTMENT_IN_ASSOCIATED_COMPA2

INVESTMENT IN ASSOCIATED COMPANIES (Details) (USD $)

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

31-May-14

Oct. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Oct. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Sep. 30, 2008

Dec. 31, 2012

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jul. 31, 2008

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

SFL Hercules [Member]

SFL Linus [Member]

SFL Deepwater [Member]

SFL West Polaris [Member]

Bluelot Shipping Company [Member]

SFL Corte Real [Member]

Variable Interest Entity, Not Primary Beneficiary [Member]

Bluelot Shipping Company and SFL Corte Real [Member]

Seadrill [Member]

Bluelot Shipping Company and SFL Corte Real [Member]

Customer Concentration Risk [Member]

Rate

subsidiaries

vessel

Schedule of Equity Method Investments [Line Items]

Participation in equity method investee (in hundredths)

100.00%

0.00%

100.00%

0.00%

100.00%

Debt Instrument, Face Amount

$375,000,000

$475,000,000

$390,000,000

$1,400,000,000

$420,000,000

$700,000,000

Term loan facility, term

'5 years

Term loan facility, amount outstanding

1,730,015,000

1,736,879,000

297,500,000

475,000,000

343,300,000

369,000,000

Term Loan Facility, Revolving Credit Facility

50,000,000

Term loan facility, amount guaranteed

85,000,000

90,000,000

94,000,000

Number of main assets subject of leases which includes both fixed price call options and fixed price purchase obligations

Number of Wholly Owned Subsidiaries

Number of Investment Loans to Fund Vessels

Investment loan to finance vessel

25,000,000

Summarized balance sheet information [Abstract]

Current assets

45,939,000

56,886,000

52,990,000

74,020,000

94,981,000

33,298,000

34,412,000

9,780,000

9,857,000

206,247,000

205,916,000

Non-current assets

414,065,000

429,720,000

553,107,000

195,000,000

411,647,000

432,755,000

442,708,000

458,558,000

1,821,527,000

1,516,033,000

Total assets

460,004,000

486,606,000

606,097,000

195,000,000

485,667,000

527,736,000

476,006,000

492,970,000

9,780,000

9,857,000

2,027,774,000

1,721,949,000

Current liabilities

37,282,000

29,101,000

54,263,000

85,065,000

85,240,000

38,583,000

38,337,000

3,523,000

3,646,000

215,193,000

159,847,000

Non-current liabilities

415,000,000

453,860,000

552,029,000

197,317,000

372,421,000

418,554,000

432,169,000

451,384,000

1,771,619,000

1,521,115,000

Total liabilities

452,282,000

482,961,000

606,292,000

197,317,000

457,486,000

503,794,000

470,752,000

489,721,000

3,523,000

3,646,000

1,986,812,000

1,680,962,000

Total shareholders' equity

7,722,000

3,645,000

-195,000

-2,317,000

28,181,000

23,942,000

5,254,000

3,249,000

6,257,000

6,211,000

40,962,000

40,987,000

Statement of operations information [Abstract]

Operating revenues

12,686,000

626,000

13,832,000

12,217,000

12,936,000

31,804,000

46,145,000

11,151,000

12,168,000

23,701,000

1,171,000

9,858,000

19,490,000

2,492,000

9,883,000

19,624,000

52,653,000

64,339,000

122,792,000

Net operating revenues

12,672,000

625,000

13,808,000

12,206,000

12,924,000

31,804,000

46,109,000

11,136,000

12,150,000

23,681,000

232,000

1,112,000

2,261,000

431,000

1,112,000

2,262,000

49,601,000

46,803,000

88,121,000

Net income

$4,077,000

($238,000)

$3,645,000

$3,035,000

($38,000)

$4,239,000

$12,381,000

$17,747,000

$2,005,000

$1,163,000

$2,324,000

$232,000

$1,112,000

$2,261,000

$431,000

$1,112,000

$2,261,000

$14,019,000

$15,530,000

$28,200,000

SHORTTERM_AND_LONGTERM_DEBT_De

SHORT-TERM AND LONG-TERM DEBT (Details)

6 Months Ended

12 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2006

Jun. 30, 2014

Dec. 31, 2013

Aug. 31, 2007

Aug. 31, 2014

Jun. 30, 2014

Dec. 31, 2013

Jan. 31, 2008

Aug. 31, 2014

Jun. 30, 2014

Dec. 31, 2013

Feb. 29, 2008

Jun. 30, 2014

Dec. 31, 2013

Feb. 28, 2008

Mar. 31, 2008

Jun. 30, 2014

Dec. 31, 2013

Feb. 28, 2010

Jun. 30, 2014

Dec. 31, 2013

Mar. 31, 2010

Jun. 30, 2014

Dec. 31, 2013

Mar. 31, 2010

Jun. 30, 2014

Dec. 31, 2013

Nov. 30, 2010

Jun. 30, 2014

Dec. 31, 2013

Feb. 28, 2011

Jun. 30, 2014

Dec. 31, 2013

Mar. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Jun. 30, 2014

Dec. 31, 2013

31-May-11

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2011

Jun. 30, 2014

Dec. 31, 2013

Jul. 31, 2011

Jun. 30, 2014

Dec. 31, 2013

Mar. 31, 2012

Jun. 30, 2014

31-May-14

Feb. 28, 2014

Dec. 31, 2013

Nov. 30, 2012

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Dec. 15, 2003

Jan. 31, 2013

Mar. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Oct. 07, 2010

Jun. 30, 2014

Dec. 31, 2013

Feb. 28, 2011

Jun. 30, 2014

Dec. 31, 2013

Feb. 10, 2011

Oct. 31, 2012

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Oct. 19, 2012

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Mar. 31, 2014

Jun. 30, 2014

Mar. 19, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Oct. 31, 2013

Jun. 30, 2014

USD ($)

US$ 210 million secured term loan facility [Member]

US$ 149 million secured term loan facility [Member]

US dollar 77 million secured term loan facility [Member]

US$ 30 million secured revolving credit facility (February 2008) [Member]

US$ 49 million secured term loan and revolving credit facility [Member]

US$ 43 million secured term loan facility (February 2010) [Member]

US$ 725 million secured term loan and revolving credit facility [Member]

US$ 43 million secured term loan facility (March 2010) [Member]

US$ 54 million secured term loan facility [Member]

US$ 95 million secured term loan and revolving credit facility [Member]

US$ 75 million secured term loan facility [Member]

US$ 171 million secured term loan facility [Member]

US$ 55 million secured securities financing facility [Member]

US$ 167 million secured term loan facility

US dollar 184 million secured term loan and revolving credit facility [Member]

US Dollar 53.2 Million Secured Term Loan Facility [Member]

US Dollar 70 Million Secured Term Loan Facility [Member]

US Dollar 45 million Secured Term Loan Facility [Member]

8.5% Senior Notes due 2013 [Member]

US dollar 350 Million Senior Unsecured Convertible Bonds Due 2018 [Member]

NOK 500 million senior unsecured floating rate bonds due 2014 [Member]

NOK 500 Million Senior Unsecured Floating Rate Bonds Due 2014 (USD) [Member]

3.75% Senior Unsecured Convertible Bonds Due 2016 [Member]

NOK 600 million senior unsecured floating rate bonds due 2017 [Member]

NOK 600 Million Senior Unsecured Floating Rate Bonds Due 2017 (USD) [Member]

Senior Unsecured Convertible Bonds Due 2018 [Member]

NOK 900 million senior unsecured floating rate bonds due 2019 [Member]

NOK 900 million senior unsecured floating rate bonds due 2019 (USD) [Member]

USD denominated floating rate debt (libor plus margin) due through 2026 [Member]

SFL Linus [Member]

Rate

USD ($)

vessel

USD ($)

vessel

USD ($)

vessel

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

subsidiaries

vessel

subsidiaries

vessel

subsidiaries

Rate

vessel

subsidiaries

vessel

Rate

vessel

subsidiaries

vessel

subsidiaries

vessel

subsidiaries

Debt Instrument [Line Items]

Long-term debt

$1,730,015,000

$1,736,879,000

$71,854,000

$125,000,000

$93,231,000

$92,843,000

$350,000,000

$145,388,000

$1,016,396,000

$1,097,182,000

$475,000,000

Less : current portion of long-term debt

396,963,000

389,888,000

Total long-term debt, non-current portion

1,333,052,000

1,346,991,000

Long-term Debt, by Maturity [Abstract]

2014

156,289,000

2015

262,936,000

2016

179,591,000

2017

183,886,000

2018

658,074,000

Thereafter

289,239,000

Long-term debt

1,730,015,000

1,736,879,000

71,854,000

125,000,000

93,231,000

92,843,000

350,000,000

145,388,000

1,016,396,000

1,097,182,000

475,000,000

Weighted average interest rate (in hundredths)

4.84%

4.86%

Three month dollar LIBOR rate (in hundredths)

0.23%

0.25%

Three month Norwegian kroner NIBOR rate (in hundredths)

1.75%

1.69%

Stated interest rate

8.50%

3.25%

3.75%

Debt Instrument Convertible Bond Period

'10 days

Debt Instrument, Face Amount

210,000,000

173,100,000

174,800,000

149,000,000

69,700,000

73,900,000

77,000,000

35,900,000

39,100,000

49,000,000

28,300,000

25,600,000

42,600,000

30,500,000

32,000,000

725,000,000

171,900,000

158,800,000

42,600,000

30,500,000

32,000,000

53,700,000

40,000,000

42,000,000

95,000,000

62,500,000

47,500,000

75,400,000

59,600,000

62,500,000

171,000,000

140,300,000

146,300,000

55,000,000

19,900,000

28,200,000

166,800,000

78,000,000

74,500,000

184,000,000

64,400,000

53,200,000

47,100,000

48,800,000

70,000,000

45,000,000

580,000,000

350,000,000

436,500,000

500,000,000

71,900,000

125,000,000

572,000,000

564,000,000

600,000,000

93,200,000

92,800,000

892,000,000

900,000,000

145,400,000

475,000,000

Term of Loan

'12 years

'7 years

'10 years

'5 years

'8 years

'7 years

'8 years

'10 years

'6 years

'12 years

'5 years

Amount of debt repurchased

36,000,000

8,000,000

Gain/(loss) on purchase of bonds

-21,000

-1,109,000

-1,218,000

1,100,000

Proceeds from resale of debt previous purchased

8,000,000

Extinguishment of debt, amount

432,500,000

Notice of redemption (in days)

'30 days

Redemption price of debt (in hundredths)

100.50%

Conversion price (in dollars per share)

$21.95

$19.55

$19.36

$27.05

Premium of conversion price to share price

33.00%

35.00%

Threshold percentage of value of shares underlying each bond to principal amount of bond for the bonds to be callable (in hundredths)

130.00%

Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement

Number of new vessels acquired that were partly funded by secured term loan facility

Minimum revenue level by vessel-owning subsidiaries

10,500,000

Number of vessels sold

Number of remaining vessels relating to loan facility

Number of vessels against which loan was secured

Number of vessels delivered

Number of container vessels contracted to be acquired, canceled

Available amount under revolving part of credit facility

30,000,000

Revolving credit facility, amount drawn

4,000,000

5,000,000

Amount available to draw

200,000

78,700,000

Percentage of acquisition cost of securities which may be funded by financing facility (in hundredths)

50.00%

Book value of assets pledged under ship mortgages

1,966,000,000

1,994,000,000

Common shares loaned to affiliate

6,060,606

Related party share loan fee

1,000,000

Equity component of convertible bond issuance, net

20,722,000

20,700,000

Amortization of deferred charges

$2,100,000

FINANCIAL_INSTRUMENTS_Details

FINANCIAL INSTRUMENTS (Details)

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Oct. 07, 2010

Jun. 30, 2014

Dec. 31, 2013

Oct. 19, 2012

Jun. 30, 2014

Mar. 19, 2014

Dec. 31, 2013

Jun. 30, 2014

USD ($)

Interest Rate Swap [Member]

Cross Currency Interest Rate Swap [Member]

Interest Rate Swap 1 [Member]

Interest Rate Swap 2 [Member]

Interest Rate Swap 3 [Member]

Interest Rate Swap 4 [Member]

Interest Rate Swap 5 [Member]

Interest Rate Swap 6 [Member]

Interest Rate Swap 7 [Member]

Interest Rate Swap 8 [Member]

Interest Rate Swap 9 [Member]

Interest Rate Swap 10 [Member]

Interest Rate Swap 11 [Member]

Cross Currency Interest Rate Contract 1 [Member]

Cross Currency Interest Rate Contract 2 [Member]

NOK 500 million senior unsecured floating rate bonds due 2014 [Member]

NOK 600 million senior unsecured floating rate bonds due 2017 [Member]

NOK 900 million senior unsecured floating rate bonds due 2019 [Member]

Designated as Hedging Instrument [Member]

Not Designated as Hedging Instrument [Member]

Designated as Hedging Instrument [Member]

Not Designated as Hedging Instrument [Member]

Designated as Hedging Instrument [Member]

NOK

Designated as Hedging Instrument [Member]

NOK

Designated as Hedging Instrument [Member]

USD ($)

Rate

USD ($)

Rate

Derivative [Line Items]

Debt Instrument, Face Amount

436,500,000

500,000,000

572,000,000

564,000,000

600,000,000

892,000,000

900,000,000

Derivative, Fair value [Abstract]

Assets

7,320,000

16,633,000

646,000

6,565,000

6,674,000

10,068,000

Financial instruments (short-term): at fair value

2,568,000

5,705,000

1,987,000

2,279,000

581,000

3,358,000

68,000

Liabilities

59,980,000

56,490,000

42,691,000

44,006,000

1,782,000

3,183,000

14,974,000

8,915,000

533,000

386,000

Interest rate swaps [Abstract]

Inception date

31-Mar-10

30-Sep-12

31-Mar-08

30-Apr-11

31-May-11

31-Aug-11

30-Apr-12

31-May-12

31-Oct-12

28-Feb-13

4-Mar-13

5-Mar-14

19-Oct-12

5-Mar-14

Maturity date

31-Mar-15

30-Sep-14

31-Aug-18

31-Dec-18

31-Jan-19

31-Aug-21

31-May-19

31-Aug-22

31-Oct-17

21-Dec-17

25-Apr-23

19-Mar-19

19-Oct-17

19-Mar-19

Notional principal

1,225,400,000

1,188,000,000

167,895,000

69,713,000

35,686,000

40,002,000

59,591,000

100,000,000

173,142,000

176,333,000

46,550,000

100,000,000

151,008,000

105,436,000

151,000,000

Notional principal, at maturity

$122,632,000

$69,713,000

$24,794,000

$23,394,000

$34,044,000

$100,000,000

$153,804,000

$79,733,000

$32,142,000

$100,000,000

Fixed Interest Rate

4.85%

6.03%

5.32%

Fixed interest rate range, low end (in hundredths)

1.96%

4.05%

2.13%

0.80%

2.50%

3.67%

1.76%

0.81%

1.85%

5.92%

Fixed interest rate range, high end (in hundredths)

2.22%

4.15%

2.80%

2.58%

2.93%

3.77%

1.85%

0.82%

1.97%

6.23%

FINANCIAL_INSTRUMENTS_Fair_Val

FINANCIAL INSTRUMENTS (Fair Value and Carrying Value) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Non-derivatives:	'	'
Available for sale securities	$61,889,000	$76,925,000
Carrying Value [Member]	'	'
Non-derivatives:	'	'
Available for sale securities	61,889,000	76,925,000
Floating rate NOK bonds due 2014	0	71,854,000
Floating rate NOK bonds due 2017	93,231,000	92,483,000
Floating rate NOK bonds due 2019	145,388,000	0
Derivatives:	'	'
Interest rate/ currency swap contracts â€“ long-term receivables	7,320,000	16,633,000
Interest rate/ currency swap contracts â€“ short-term payables	2,568,000	5,705,000
Interest rate/ currency swap contracts â€“ long-term payables	59,980,000	56,490,000
Fair Value [Member]	'	'
Non-derivatives:	'	'
Available for sale securities	61,889,000	76,925,000
Floating rate NOK bonds due 2014	0	72,032,000
Floating rate NOK bonds due 2017	97,152,000	93,752,000
Floating rate NOK bonds due 2019	145,387,000	0
Derivatives:	'	'
Interest rate/ currency swap contracts â€“ long-term receivables	7,320,000	16,633,000
Interest rate/ currency swap contracts â€“ short-term payables	2,568,000	5,705,000
Interest rate/ currency swap contracts â€“ long-term payables	59,980,000	56,490,000
3.75% Senior Unsecured Convertible Bonds Due 2016 [Member] \| Carrying Value [Member]	'	'
Non-derivatives:	'	'
Unsecured convertible bonds	125,000,000	125,000,000
3.75% Senior Unsecured Convertible Bonds Due 2016 [Member] \| Fair Value [Member]	'	'
Non-derivatives:	'	'
Unsecured convertible bonds	135,516,000	130,589,000
Senior Unsecured Convertible Bonds Due 2018 [Member] \| Carrying Value [Member]	'	'
Non-derivatives:	'	'
Unsecured convertible bonds	350,000,000	350,000,000
Senior Unsecured Convertible Bonds Due 2018 [Member] \| Fair Value [Member]	'	'
Non-derivatives:	'	'
Unsecured convertible bonds	398,598,000	359,307,000
Not Designated as Hedging Instrument [Member]	'	'
Derivatives:	'	'
Long term receivables, non-designated swap contracts	6,700,000	10,100,000
Short term payables, non-designated swap contracts	600,000	100,000
Long term payables, non-designated swap contracts	$2,300,000	$3,600,000

FINANCIAL_INSTRUMENTS_Fair_Val1

FINANCIAL INSTRUMENTS (Fair Value Hierarchy) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Assets:	'	'
Available for sale securities	$61,889	$76,925
Recurring Basis [Member]	'	'
Assets:	'	'
Available for sale securities	61,889	'
Interest rate/currency swap contracts - long term receivables	7,320	'
Total assets	69,209	'
Liabilities:	'	'
Floating rate NOK bonds due 2017	97,152	'
Floating rate NOK bonds due 2019	145,387	'
Swap Contracts, Short Term Payable, Fair Value Disclosure	2,568	'
Interest rate/ currency swap contracts â€“ long-term payables	59,980	'
Total liabilities	839,201	'
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Recurring Basis [Member]	'	'
Assets:	'	'
Available for sale securities	39,811	'
Total assets	39,811	'
Liabilities:	'	'
Floating rate NOK bonds due 2017	97,152	'
Floating rate NOK bonds due 2019	145,387	'
Total liabilities	776,653	'
Significant Other Observable Inputs (Level 2) [Member] \| Recurring Basis [Member]	'	'
Assets:	'	'
Interest rate/currency swap contracts - long term receivables	7,320	'
Total assets	7,320	'
Liabilities:	'	'
Swap Contracts, Short Term Payable, Fair Value Disclosure	2,568	'
Interest rate/ currency swap contracts â€“ long-term payables	59,980	'
Total liabilities	62,548	'
Significant Unobservable Inputs (Level 3) [Member] \| Recurring Basis [Member]	'	'
Assets:	'	'
Available for sale securities	22,078	'
Total assets	22,078	'
Liabilities:	'	'
Total liabilities	0	'
3.75% Senior Unsecured Convertible Bonds Due 2016 [Member]	'	'
Liabilities:	'	'
Stated interest rate	3.75%	'
3.75% Senior Unsecured Convertible Bonds Due 2016 [Member] \| Recurring Basis [Member]	'	'
Liabilities:	'	'
Unsecured convertible bonds	135,516	'
3.75% Senior Unsecured Convertible Bonds Due 2016 [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Recurring Basis [Member]	'	'
Liabilities:	'	'
Unsecured convertible bonds	135,516	'
Senior Unsecured Convertible Bonds Due 2018 [Member]	'	'
Liabilities:	'	'
Stated interest rate	3.25%	'
Senior Unsecured Convertible Bonds Due 2018 [Member] \| Recurring Basis [Member]	'	'
Liabilities:	'	'
Unsecured convertible bonds	398,598	'
Senior Unsecured Convertible Bonds Due 2018 [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Recurring Basis [Member]	'	'
Liabilities:	'	'
Unsecured convertible bonds	$398,598	'

FINANCIAL_INSTRUMENTS_Concentr

FINANCIAL INSTRUMENTS (Concentration Risk) (Detail) (Customer Concentration Risk [Member], USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'
Operating revenues	$52,653	$64,339	$122,792
Sales Revenue, Net [Member]	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'
Concentration risk, percentage	37.58%	41.00%	38.00%

SHARE_CAPITAL_ADDITIONAL_PAIDI2

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Stockholders' Equity Note [Abstract]	'	'
Share Capital, shares authorized	125,000,000	125,000,000
Common stock, value authorized	$125,000	$125,000
Share capital, par value (in dollars per share)	$1	$1
Share Capital, shares issued	93,359,000	93,260,000
Common Stock, Value, Issued	$93,359	$93,260

SHARE_CAPITAL_ADDITIONAL_PAIDI3

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Narrative) (Details) (USD $)	6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Payments in lieu of issuing shares for exercised share options	$1,196,000	$448,000	$448,000
Amortization Of Deferred Equity Contribution	2,319,000	6,385,000	20,197,000
Ship Finance International Limited Share Option Scheme [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Shares issued (in shares)	99,000	'	'
Exercised share price (in dollars per share)	$4.68	'	'
Premium on stock options exercised	400,000	'	'
Number of employees exercising options	2	'	'
Number of directors exercising options	1	'	'
Payments in lieu of issuing shares for exercised share options	1,200,000	'	'
Frontline Ltd [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Amortization Of Deferred Equity Contribution	$2,300,000	'	$20,200,000

SHARE_OPTION_PLAN_Details

SHARE OPTION PLAN (Details) (USD $)	6 Months Ended
SHARE OPTION PLAN (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'	'
Granted (in shares)	0	'
Unrecognized compensation costs related to non-vested options granted	$0	$29,100

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Basic:	'	'	'
Net income available to stockholders	$63,092	$57,442	$89,206
Diluted:	'	'	'
Interest paid on 3.75% convertible bonds	11,203	7,102	5,092
Net income available to stockholders, diluted	$74,295	$64,544	$94,298
Basic earnings per share:	'	'	'
Weighted average number of common shares outstanding	93,277	85,694	89,508
Diluted earnings per share:	'	'	'
Effect of dilutive share options	58	82	163
Effect of dilutive convertible debt	23,333	22,220	5,753
Weighted average number of diluted common shares outstanding	116,668	107,996	95,424

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

1 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2013

Dec. 31, 2010

Jun. 30, 2013

Dec. 31, 2010

Jun. 30, 2013

Feb. 28, 2014

Jun. 30, 2013

vessel

Frontline Charterers, Deep Sea and UFC [Member]

Frontline Charterers [Member]

Deep Sea [Member]

United Freight Carriers Inc [Member]

Frontline Charterers, Deep Sea [Member]

Frontline Ltd [Member]

NADL [Member]

Frontline Management [Member]

Golar Management UK Limited [Member]

Bluelot [Member]

Corte Real [Member]

Frontline Management AS [Member]

Golden Ocean [Member]

Seadrill [Member]

Associated companies [Member]

Other related parties [Member]

SFL West Polaris [Member]

SFL Deepwater [Member]

SFL Hercules [Member]

SFL Linus [Member]

Notes Receivable [Member]

vessel

drilling_rigs

SFL West Polaris [Member]

SFL Deepwater [Member]

SFL Hercules [Member]

SFL Linus [Member]

Amounts due from and to related parties [Abstract]

Due from related parties

$30,204,000

$13,249,000

$13,424,000

$786,000

$770,000

$6,101,000

$10,016,000

$2,163,000

$100,000

$300,000

$9,104,000

$689,000

Loans to related parties

478,259,000

530,715,000

99,171,000

100,383,000

109,088,000

115,222,000

145,000,000

120,110,000

125,000,000

195,000,000

Loans to related parties - others, long-term

45,701,000

48,847,000

45,701,000

48,847,000

Due to related parties

1,939,000

13,965,000

229,000

815,000

89,000

1,589,000

1,011,000

6,064,000

6,018,000

32,000

57,000

Leasing revenues earned from related parties [Abstract]

Operating lease income

13,900,000

11,000,000

24,000,000

Direct financing lease interest income

23,164,000

28,489,000

55,385,000

23,200,000

28,500,000

55,400,000

Finance lease service revenue

23,530,000

26,650,000

52,390,000

23,500,000

26,700,000

52,400,000

Direct financing lease repayments

22,500,000

24,200,000

47,400,000

Profit sharing revenues

14,290,000

100,000

770,000

14,300,000

100,000

800,000

Related party leasing and service contracts [Abstract]

Number of vessels leased to related parties classified as direct financing leases

Number of vessels leased to related parties classified as operating leases

Combined balance of net investments in direct financing leases

883,400,000

1,016,900,000

Combined balance of net investments in direct financing leases, short-term maturities

45,000,000

45,100,000

Vessels and equipment, net

205,800,000

212,900,000

Management fees paid, vessels

24,807,000

27,869,000

54,916,000

24,500,000

27,500,000

54,200,000

400,000

300,000

700,000

Management fees paid, supervision of newbuildings

1,600,000

1,200,000

2,400,000

Administrative expenses - related parties

495,000

233,000

439,000

300,000

200,000

400,000

Management fees paid, provision of office facilities

100,000

200,000

300,000

Related party loans [Abstract]

Notes receivable to related parties

145,000,000

290,000,000

145,000,000

195,000,000

Repayment of Notes Receivable from Related Parties

145,000,000

70,000,000

Number of rigs transferred to related parties

Accrued interest on loan notes receivable with related parties

$3,300,000

$6,500,000

$3,300,000

$9,600,000

$6,300,000

$3,300,000

$3,500,000

$200,000

$2,100,000

COMMITMENTS_AND_CONTINGENT_LIA2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) (USD $)	6 Months Ended	12 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Commitments and Contingencies [Line Items]	'	'
Long-term Debt	$1,730,015,000	$1,736,879,000
Contractual commitments under newbuilding contracts	256,700,000	794,800,000
Ship Finance Ltd [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Long-term Debt	1,700,000,000	'
Equity Accounted Subsidiaries [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Long-term Debt	1,500,000,000	1,100,000,000
Ship Finance Ltd and Equity Accounting Subsidiaries [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Long-term Debt	3,200,000,000	2,900,000,000
Financial Guarantee [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Guarantee on loan facility	$359,000,000	$280,000,000
Kamsarmax Dry Bulk Carrier [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Number of vessels not pledged under mortgages	2	'
5800 TEU Container Vessel [Member] [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Number of vessels not pledged under mortgages	2	'
1700 TEU Container Vessel [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Number of vessels not pledged under mortgages	2	'
8700 TEU Container Vessel [Member]	'	'
Commitments and Contingencies [Line Items]	'	'
Number of vessels not pledged under mortgages	4	'

CONSOLIDATED_VARIABLE_INTEREST1

CONSOLIDATED VARIABLE INTEREST ENTITIES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
CONSOLIDATED VARIABLE INTEREST ENTITIES (Details) (USD $)	subsidiaries	Dec. 31, 2013
Variable Interest Entity [Line Items]	'	'
Number of variable interest entities	18	'
Estimated residual values of leased property (un-guaranteed)	$278,152,000	$278,152,000
Variable Interest Entities With Assets Accounted for as Direct Financing Leases [Member]	'	'
Variable Interest Entity [Line Items]	'	'
Number of variable interest entities	2	'
Carrying value of vessels	69,600,000	'
Unearned lease income	18,400,000	'
Estimated residual values of leased property (un-guaranteed)	21,700,000	'
Outstanding loan balance	35,900,000	'
Outstanding loan balance, current portion	35,900,000	'
Variable Interest Entities With Assets Accounted for as Operating Lease Assets [Member]	'	'
Variable Interest Entity [Line Items]	'	'
Number of variable interest entities	16	'
Carrying value of vessels	388,000,000	'
Outstanding loan balance	205,500,000	'
Outstanding loan balance, current portion	$82,300,000	'

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)

6 Months Ended

12 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Aug. 31, 2014

Aug. 31, 2007

Aug. 31, 2014

Jun. 30, 2014

Dec. 31, 2013

Jan. 31, 2008

Aug. 31, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2014

Sep. 30, 2014

31-May-14

Mar. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Subsequent Event [Member]

US$ 149 million secured term loan facility [Member]

US dollar 77 million secured term loan facility [Member]

Frontline Ltd [Member]

Kamsarmax Dry Bulk Carrier [Member]

8700 TEU Container Vessel [Member]

Subsequent Event [Member]

vessel

Subsequent Event [Member]

Rate

vessel

Subsequent Event [Line Items]

Compensation payable (receivable) for early contract termination of charter

$90,746,000

$40,366,000

$83,583,000

$77,500,000

Compensation payable (receivable) for early contract termination of charter, upfront payment (receipt)

10,500,000

Compensation Received on Termination of Charters, Notes Receivable

48,300,000

Stated interest rate

7.25%

Number of vessels acquired with long term time-charters

Number of Vessels Scheduled To Be Delivered

Term of time charter

'7 years

Number of Investment Loans

Number Of Vessels Against Which Loan Was Secured

Debt Instrument, Face Amount

$101,400,000

$149,000,000

$69,700,000

$73,900,000

$77,000,000

$35,900,000

$39,100,000

Term of Loan

'7 years