SFL (SFL) 6-K 6 Oct 17 2017 Q2 Current report (foreign) Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION	6 Months Ended
	Jun. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Ship Finance International LTD
Entity Central Index Key	1,289,877
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	6-K
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Operating revenues
Direct financing lease interest income - related parties	$ 9,385	$ 12,208	$ 22,850
Direct financing and sales-type lease interest income - other	9,604	0	331
Finance lease service revenues - related parties	19,827	22,932	44,523
Profit sharing revenues - related parties	5,591	38,937	51,470
Profit sharing revenues - other	61	74	74
Time charter revenues - related parties	25,717	28,755	55,265
Time charter revenues - other	90,862	80,956	171,483
Bareboat charter revenues - related parties	3,823	6,188	10,075
Bareboat charter revenues - other	15,523	19,287	34,964
Voyage charter revenues - other	9,701	9,022	19,329
Other operating income	1,009	3,215	2,587
Total operating revenues	191,103	221,574	412,951
Gain/(loss) on sale of assets and termination of charters, net	779	14	(167)
Operating expenses
Vessel operating expenses - related parties	31,013	34,224	67,221
Vessel operating expenses - other	35,097	34,590	68,795
Depreciation	43,364	46,304	94,293
Vessel impairment charge	0	0	5,314
Administrative expenses - related parties	405	730	1,443
Administrative expenses - other	3,601	4,058	7,629
Total operating expenses	113,480	119,906	244,695
Net operating income	78,402	101,682	168,089
Non-operating income / (expense)
Interest income - related parties, long term loans to associated companies	8,200	9,338	18,675
Interest income – related parties, other	1,372	383	897
Interest income - other	1,017	666	2,164
Interest expense - other	(44,307)	(35,274)	(71,843)
(Loss)/gain on repurchase of bonds	(756)	(38)	(8,802)
Other financial items, net	(8,690)	(13,718)	(2,089)
Net income before equity in earnings of associated companies	38,538	71,289	118,641
Equity in earnings of associated companies	13,855	14,322	27,765
Net income	$ 52,393	$ 85,611	$ 146,406
Per share information:
Basic earnings per share	$ 0.56	$ 0.92	$ 1.57
Diluted earnings per share	$ 0.54	$ 0.78	$ 1.50

UNAUDITED CONDENSED CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 52,393	$ 85,611	$ 146,406
Fair value adjustments to hedging financial instruments	3,221	(14,540)	9,702
Fair value adjustments to hedging financial instruments in associated companies	505	(1,767)	1,150
Fair value adjustments to available for sale securities	(8,806)	(92,077)	(93,406)
Other comprehensive income/(loss)	39	11	(38)
Reclassification into net income of previous fair value adjustments to hedging financial instruments	708	0	0
Other comprehensive (loss)/income, net of tax	(4,333)	(108,373)	(82,592)
Comprehensive (loss)/income	$ 48,060	$ (22,762)	$ 63,814

UNAUDITED CONDENSED CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 248,999	$ 62,382
Restricted cash	9,000	0
Available for sale securities	110,802	118,489
Trade accounts receivable	6,309	3,549
Other receivables	12,682	11,370
Due from related parties	16,933	17,519
Inventories	5,034	5,083
Prepaid expenses and accrued income	4,692	3,608
Investment in direct financing leases, current portion	33,083	32,220
Assets held for sale	0	24,097
Total derivative instruments - short-term assets	79	110
Total current assets	447,613	278,427
Vessels and equipment, net	1,691,530	1,737,169
Newbuildings and vessel purchase deposits	45,907	33,447
Investment in direct financing leases, long-term portion	612,390	523,815
Investment in associated companies	91	130
Loans to related parties - associated companies, long-term	314,000	330,087
Long-term receivables from related parties	8,171	9,268
Other long-term assets	14,559	18,992
Financial instruments (long-term): at fair value	4,652	6,042
Total assets	3,138,913	2,937,377
Current liabilities
Short-term debt and current portion of long-term debt	487,859	174,900
Trade accounts payable	1,132	1,229
Due to related parties	3,479	850
Total derivative instruments - short-term liabilities	39,366	39,309
Accrued expenses	13,066	13,800
Other current liabilities	16,762	8,882
Total current liabilities	561,664	238,970
Long-term liabilities
Long-term debt	1,183,733	1,377,974
Financial instruments (long-term): at fair value	55,709	61,456
Other long-term liabilities	239,625	124,882
Total liabilities	2,040,731	1,803,282
Commitments and contingent liabilities
Stockholders' equity
Share capital ($0.01 par value; 150,000,000 shares authorized; 101,504,575 shares issued and outstanding at June 30, 2017 and at December 31, 2016)	1,015	1,015
Additional paid-in capital	282,683	282,502
Contributed surplus	680,703	680,703
Accumulated other comprehensive loss	(89,617)	(84,779)
Accumulated other comprehensive loss – associated companies	(471)	(976)
Retained earnings	223,869	255,630
Total stockholders' equity	1,098,182	1,134,095
Total liabilities and stockholders' equity	$ 3,138,913	$ 2,937,377

UNAUDITED CONDENSED CONSOLIDAT5

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Stockholders' equity
Share capital, par value (in dollars per share)	$ 0.01	$ 0.01
Share capital, shares authorized (in shares)	150,000,000	150,000,000
Share capital, shares issued (in shares)	101,504,575	101,504,575
Share capital, shares outstanding (in shares)	101,504,575	101,504,575	93,504,575	93,468,000

UNAUDITED CONDENSED CONSOLIDAT6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Operating activities
Net income	$ 52,393	$ 85,611	$ 146,406
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	43,364	46,304	94,293
Vessel impairment charge	0	0	5,314
Amortization of deferred charges	4,694	5,663	10,972
Amortization of seller's credit	(619)	(694)	(1,324)
Equity in earnings of associated companies	(13,855)	(14,322)	(27,765)
(Gain)/loss on sale of assets and termination of charters	(779)	(14)	167
Adjustment of derivatives to fair value recognized in net income	4,159	10,408	(4,399)
Loss/(gain) on repurchase of bonds	756	38	8,802
Interest receivable in form of notes	(635)	(633)	(633)
Other, net	932	157	365
Changes in operating assets and liabilities
Trade accounts receivable	(2,760)	6,197	(1,492)
Due from related parties	16,382	(3,182)	8,433
Other receivables	(4,073)	1,307	(856)
Inventories	49	6	(27)
Prepaid expenses and accrued income	(1,084)	2,878	2,181
Trade accounts payable	(97)	235	394
Accrued expenses	(735)	(1,426)	1,046
Other current liabilities	3,055	(14,812)	(11,804)
Net cash provided by operating activities	101,147	123,721	230,073
Investing activities
Net maturities/(deposits) of restricted cash	(9,000)	0	0
Repayments from investments in direct financing leases	16,669	16,309	30,410
Additions to newbuildings	(12,460)	(176,686)	(188,142)
Proceeds/(payments) from sales of vessels and termination of charters	62,762	4,932	29,102
Net amounts received from/(paid to) associated companies	21,241	170,866	193,517
Other investments and long term assets, net	(15,736)	(12,072)	(25,488)
Net cash provided by/(used in) investing activities	63,476	3,349	39,399
Financing activities
Shares issued, net of issuance costs	0	243	323
(Repurchase)/resale of bonds	(50,128)	(117,509)	(296,800)
Proceeds from issuance of long-term debt	226,104	277,000	522,000
Repayments of long-term debt	(67,274)	(190,612)	(329,303)
Debt fees paid	(700)	(217)	(5,099)
Repayment of lease obligation liability	(1,854)	0	(97)
Cash dividends paid	(84,154)	(84,134)	(168,289)
Net cash used in financing activities	21,994	(115,229)	(277,265)
Net change in cash and cash equivalents	186,617	11,841	(7,793)
Cash and cash equivalents at start of the period	62,382	70,175	70,175
Cash and cash equivalents at end of the period	248,999	82,016	62,382
Supplemental disclosure of cash flow information:
Interest paid, net of capitalized interest	$ 42,694	$ 33,521	$ 65,184

UNAUDITED CONDENSED CONSOLIDAT7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	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]
Starting Balance at Dec. 31, 2015	$ 1,241,810	$ 93,468	$ 285,859	$ 588,133	$ (1,037)	$ (2,126)	$ 277,513
Starting Balance (in shares) at Dec. 31, 2015	93,468,000	93,468,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	36,575	36,575
Transfer to contributed surplus - reduction in par value		$ 0		0
Shares issued	$ 243	37	206
Amortization of stock based compensation	139		139
Equity component of convertible bond issuance, net	0		0
Adjustment to equity component arising from partial reacquisition of convertible bond due 2018			0
Gain/(loss) on hedging financial instruments reclassified into earnings	0				0
Fair value adjustments to hedging financial instruments	(16,307)				(14,540)	(1,767)
Fair value adjustments to available for sale securities	(92,077)				(92,077)
Other comprehensive income/(loss)	11				11
Net income	85,611						85,611
Dividends declared	(84,135)						(84,135)
Ending Balance at Jun. 30, 2016	$ 1,135,295	$ 93,505	286,204	588,133	(107,643)	(3,893)	278,989
Ending Balance (in shares) at Jun. 30, 2016	93,504,575	93,504,575
Starting Balance at Dec. 31, 2015	$ 1,241,810	$ 93,468	285,859	588,133	(1,037)	(2,126)	277,513
Starting Balance (in shares) at Dec. 31, 2015	93,468,000	93,468,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	8,036,575	8,036,575
Transfer to contributed surplus - reduction in par value		$ (92,570)		92,570
Shares issued	$ 323	117	206
Amortization of stock based compensation	403		403
Equity component of convertible bond issuance, net	(3,966)		4,551
Adjustment to equity component arising from partial reacquisition of convertible bond due 2018			(8,517)
Gain/(loss) on hedging financial instruments reclassified into earnings	0				0
Fair value adjustments to hedging financial instruments	10,852				9,702	1,150
Fair value adjustments to available for sale securities	(93,406)				(93,406)
Other comprehensive income/(loss)	(38)				(38)
Net income	146,406						146,406
Dividends declared	(168,289)						(168,289)
Ending Balance at Dec. 31, 2016	$ 1,134,095	$ 1,015	282,502	680,703	(84,779)	(976)	255,630
Ending Balance (in shares) at Dec. 31, 2016	101,504,575	101,504,575
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	0	0
Transfer to contributed surplus - reduction in par value		$ 0		0
Shares issued	$ 0	0	0
Amortization of stock based compensation	181		181
Equity component of convertible bond issuance, net	0		0
Adjustment to equity component arising from partial reacquisition of convertible bond due 2018			0
Gain/(loss) on hedging financial instruments reclassified into earnings	708				708
Fair value adjustments to hedging financial instruments	3,726				3,221	505
Fair value adjustments to available for sale securities	(8,806)				(8,806)
Other comprehensive income/(loss)	39				39
Net income	52,393						52,393
Dividends declared	(84,154)						(84,154)
Ending Balance at Jun. 30, 2017	$ 1,098,182	$ 1,015	$ 282,683	$ 680,703	$ (89,617)	$ (471)	$ 223,869
Ending Balance (in shares) at Jun. 30, 2017	101,504,575	101,504,575

INTERIM FINANCIAL DATA

INTERIM FINANCIAL DATA	6 Months Ended
	Jun. 30, 2017
INTERIM FINANCIAL DATA [Abstract]
INTERIM FINANCIAL DATA	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 unaudited condensed interim 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, 2016 . The results of operations for the interim period ended June 30, 2017 are not necessarily indicative of the results for the entire year ending December 31, 2017 . 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, 2016 . Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09 "Revenue from Contracts with Customers" which will replace almost all existing revenue recognition guidance in U.S. GAAP and is intended to improve and converge with international standards the financial reporting requirements for revenue from contracts with customers. The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU 2014-09 was effective for reporting periods and interim periods beginning on or after December 15, 2016. In August 2015, the FASB issued ASU 2015-14 "Deferral of the Effective Date" to delay the implementation of ASU 2014-09 by one year, in response to feedback from preparers, practitioners and users of financial statements. Accordingly, ASU 2014-09 is now effective for reporting periods and interim periods beginning on or after December 15, 2017. The Company is in the process of considering the impact of the standard on its consolidated financial statements and expects to complete the assessment during fiscal year 2017. For vessels operating on voyage charters, we expect to continue recognizing revenue over time. The time period over which revenue will be recognized is still being determined and, depending on the final conclusion, each period’s voyage results could differ materially from the same period’s voyage results recognized based on the present revenue recognition guidance. However, the total voyage results recognized over all periods would not change. The adoption of the standard is not expected to have a material impact on other income, primarily income earned from the commercial management of related party and third party vessels and newbuilding supervision fees derived from related parties and third parties. In January 2016, the FASB issued ASU 2016-01 "Recognition and Measurement of Financial Assets and Financial Liabilities" to enhance the reporting model for financial instruments to provide users of financial statements with more decision-useful information. ASU 2016-01 particularly relates to the fair value and impairment of equity investments, financial instruments measured at amortized cost, and the use of the exit price notion when measuring the fair value of financial instruments for disclosure purposes. ASU 2016-01 is effective for fiscal years and interim periods beginning after December 15, 2017. Early adoption is only permitted for certain particular amendments within ASU 2016-01, where financial statements have not yet been issued. ASU 2016-01 will require the Company to recognize any changes in the fair value of certain equity investments in net income. These changes are currently recognized in other comprehensive income. In February 2016, the FASB issued ASU 2016-02 "Leases" to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 creates a new Accounting Standards Codification Topic 842 "Leases" to replace the previous Topic 840 "Leases." ASU 2016-02 affects both lessees and lessors, although for the latter the provisions are similar to the previous model, but updated to align with certain changes to the lessee model and also the new revenue recognition provisions contained in ASU 2014-09 (see above). ASU 2016-02 is effective for fiscal years and interim periods beginning after December 15, 2018. Early adoption is permitted. The Company is currently assessing the impact of ASU 2016-02 on its consolidated financial position, results of operations and cash flows. In June 2016, the FASB issued ASU 2016-13 "Financial Instruments - Credit Losses" to introduce new guidance for the accounting for credit losses on instruments within its scope. ASU 2016-13 requires among other things, the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 is effective for fiscal years and interim periods beginning after December 15, 2019. Early adoption is permitted. The Company is currently assessing the impact of ASU 2016-13 on its consolidated financial position, results of operations and cash flows. In August 2016, the FASB issued ASU 2016-15 "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments", to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. It addresses the following eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. The amendments are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years with early adoption permitted. The amendments should be applied using a retrospective transition method to each period presented. If it is impracticable to apply the amendments retrospectively for some of the issues, the amendments for those issues would be applied prospectively as of the earliest date practicable. The Company is currently assessing the impact of ASU 2016-15 on its statement of consolidated cash flows. In November 2016, the FASB issued ASU 2016-18 "Statement of Cash Flows (Topic 230): Restricted Cash", to address diversity in practice that exists in the classification and presentation of changes in restricted cash and require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The standard will be effective for fiscal years beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted. The impact on the consolidated financial statements of the Company will depend on the facts and circumstances of any specific future transactions. In January 2017, the FASB issued ASU 2017-01 "Business Combinations (Topic 805) -Clarifying the Definition of a Business" which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is required to be applied prospectively and will be effective for the Company beginning January 1, 2018. The impact on the consolidated financial statements of the Company will depend on the facts and circumstances of any specific future transactions. In March 2017, the FASB issued ASU 2017-08 "Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities" to amend the amortization period for certain purchased callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. ASU 2017-08 is effective for fiscal years and interim periods beginning after December 15, 2018. Early adoption is permitted. The impact on the consolidated financial statements of the Company will depend on the facts and circumstances of any specific future transactions. In May 2017, the FASB issued ASU 2017-09 "Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting" to clarify and reduce both diversity in practice and cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation, to a change to the terms or conditions of a share-based payment award. The amendments provide guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting. ASU 2017-09 is effective for fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted. The impact on the consolidated financial statements of the Company will depend on the facts and circumstances of any specific future transactions. In August 2017, the FASB issued ASU 2017-12 "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" to enable entities to better portray the economics of their risk management activities in the financial statements and enhance the transparency and understandability of hedge results. The amendments also simplify the application of hedge accounting in certain situations. ASU 2017-12 is effective for fiscal years and interim periods beginning after December 15, 2018. Early adoption is permitted. The Company is in the process of evaluating the impact of this standard update on its Consolidated Financial Statements and related disclosures. Recently Adopted Accounting Standards In March 2016, the FASB issued ASU 2016-07 "Investments - Equity Method and Joint Ventures" to simplify the transition to the equity method of accounting. ASU 2016-07 eliminates the requirement that when an investment qualifies for the use of the equity method as a result of an increase in the level of ownership, the investor must adjust the investment, results of operations and retained earnings retrospectively as if the equity method had been in effect during all previous periods in which the investment had been held. ASU 2016-07 was effective for fiscal years and interim periods beginning after December 15, 2016. The adoption of this standard did not have a material impact on the consolidated financial statements of the Company for the six months ended June 30, 2017 . In March 2016, the FASB issued ASU 2016-09 "Compensation - Stock Compensation" to introduce improvements to employee share-based payment accounting. ASU 2016-09 simplifies several aspects of the accounting for share-based payment award transactions, including the income tax consequences, the classification of awards as either equity or liabilities and the classification on the statement of cash flows. ASU 2016-09 was effective for fiscal years and interim periods beginning after December 15, 2016. The adoption of this standard did not have a material impact on the consolidated financial statements of the Company for the six months ended June 30, 2017 .

GAIN ON SALE OF ASSETS AND TERM

GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS	6 Months Ended
	Jun. 30, 2017
Gain (Loss) on Disposition of Assets [Abstract]
GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS	GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Loss)/Gain on sale of vessels During the six months ended June 30, 2017 , the VLCC Front Century , the Suezmax Front Brabant and the VLCC Front Scilla , which were accounted for as direct financing lease assets, were sold to unrelated third parties in March 2017, May 2017 and June 2017, respectively. Losses of $26,000 , $1.7 million and $1.1 million , respectively, were recorded on the disposals. Sales proceeds included compensation received for early termination of the charters (see Note 15: Related party transactions). The 1,700 TEU container vessel MSC Alice, which was previously an operating lease asset, was accounted for as a sales-type lease during the six months ended June 30, 2017 , following the commencement of a long-term bareboat charter in April 2017 to MSC Mediterranean Shipping Company S.A. ("MSC"), an unrelated party. The terms of the charter provides a minimum fixed price purchase obligation at the expiry of the five year charter period. A gain of $0.7 million was recorded on the transaction. Gain on termination of charters In April 2017, the 2007-built jack-up drilling rig Soehanah was redelivered to us by the previous charterer, PT Apexindo Pratama Duta ("Apexindo"). Ship Finance received a non-amortizing loan note with a term of six years from Apexindo as part of the settlement agreement for the early termination of the charter. The note which has an initial face value of $6.0 million has been recorded at an initial fair value of $2.8 million which amounts to a gain on the termination of the charter.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2017
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 Year ended (in thousands of $) June 30, 2017 June 30, 2016 December 31, 2016 Basic: Net income available to stockholders 52,393 85,611 146,406 Diluted: Net income available to stockholders 52,393 85,611 146,406 Interest and other expenses attributable to convertible bonds 4,571 9,151 15,310 Net income assuming dilution 56,964 94,762 161,716 The components of the denominator for the calculation of basic and diluted EPS are as follows: Six months ended Year ended (in thousands) June 30, 2017 June 30, 2016 December 31, 2016 Basic earnings per share: Weighted average number of common shares outstanding 93,505 93,489 93,497 Diluted earnings per share: Weighted average number of common shares outstanding 93,505 93,489 93,497 Effect of dilutive share options 15 — — Effect of dilutive convertible debt 12,410 27,935 14,543 Weighted average number of common shares outstanding assuming dilution 105,930 121,424 108,040 The weighted average number of common shares outstanding excludes 8,000,000 shares issued as part of a share lending arrangement relating to the issue in October 2016 of 5.75% senior unsecured convertible bonds. These shares are owned by the Company and will be returned on or before maturity of the bonds in 2021. In addition, the 5.75% senior unsecured convertible bonds issued in October 2016 were not dilutive at June 30, 2017 .

OTHER FINANCIAL ITEMS, NET

OTHER FINANCIAL ITEMS, NET	6 Months Ended
	Jun. 30, 2017
Other Financial Items [Abstract]
OTHER FINANCIAL ITEMS, NET	OTHER FINANCIAL ITEMS, NET Other financial items comprise the following items: Six months ended Year ended (in thousands of $) June 30, 2017 June 30, 2016 December 31, 2016 Fair value gain/(loss) of designated derivatives (ineffective portion) 138 (840 ) 482 Fair value gain/(loss) on non-designated derivatives, net (4,297 ) (9,568 ) 3,917 Net cash payments on non-designated derivatives (2,779 ) (2,641 ) (4,913 ) Other items (1,752 ) (669 ) (1,575 ) Other financial items, net (8,690 ) (13,718 ) (2,089 ) The net movement in the fair values of non-designated derivatives and net cash payments thereon relates to non-designated, terminated or de-designated interest rate swaps and cross currency interest rate swaps. The net movement in the fair values of designated derivatives relates to the ineffective portion of interest rate swaps and cross currency interest rate swaps that have been designated as cash flow hedges. Changes in the fair values of the effective portion of interest rate swaps that are designated as cash flow hedges are reported under “Other comprehensive income”. In the event that an interest rate swap, or portion thereof, relating to a loan facility is no longer designated as a cash flow hedge, then corresponding gains/losses previously recorded in "Other comprehensive income" are reclassified as "Other financial items, net" in the Consolidated Statement of Operations. The above net movement in the valuation of non-designated derivatives includes $0.7 million reclassifications from "Other comprehensive income" in the six months ended June 30, 2017 ( six months ended June 30, 2016 : $ nil reclassified from “Other comprehensive income”; year ended December 31, 2016 : $ nil reclassified from “Other comprehensive income”). Other items mainly include bank charges, fees relating to loan facilities and foreign currency translation adjustments.

AVAILABLE FOR SALE SECURITIES

AVAILABLE FOR SALE SECURITIES	6 Months Ended
	Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]
AVAILABLE FOR SALE SECURITIES	AVAILABLE-FOR-SALE SECURITIES Marketable securities held by the Company are debt securities and share investments considered to be available-for-sale securities. (in thousands of $) June 30, 2017 December 31, 2016 Amortized cost 198,568 197,449 Accumulated net unrealized (loss)/gain (87,766 ) (78,960 ) Available-for-sale securities 110,802 118,489 The Company's investment in marketable securities consists of investments in shares and convertible and secured notes which mature in 2019 and 2022. Available-for-sale securities are recorded at fair value, with unrealized gains and losses recorded as a separate component of "Other comprehensive income". The accumulated net unrealized loss on available-for-sale securities included in "Other comprehensive income" at June 30, 2017 , was $87.8 million ( December 31, 2016 : $79.0 million ). The investment in shares at June 30, 2017 consists of shareholding in various related party entities, which is comprised of listed shares in a Frontline Ltd. (“Frontline”) with a carrying value of $63.0 million ( December 31, 2016 : $78.2 million ), shares in NorAm Drilling Company AS (“NorAm Drilling”) traded on the Norwegian Over the Counter market ("OTC") with a carrying value of $2.0 million ( December 31, 2016 : $1.4 million ), and shares in Golden Close Maritime Corp. Ltd. (“Golden Close”) traded on the Norwegian OTC with a carrying value of $0.6 million ( December 31, 2016 : $ nil ). See also Note 15: Related party transactions. The investment in convertible and secured notes at June 30, 2017 , consists of listed and unlisted corporate bonds with a total carrying value of $45.1 million ( December 31, 2016 : $38.9 million ).

VESSELS AND EQUIPMENT, NET

VESSELS AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
VESSELS AND EQUIPMENT, NET	VESSELS AND EQUIPMENT, NET (in thousands of $) June 30, 2017 December 31, 2016 Cost 2,140,898 2,154,994 Accumulated depreciation (449,368 ) (417,825 ) Vessels and equipment, net 1,691,530 1,737,169 During the six months ended June 30, 2017 , the 1,700 TEU container vessel MSC Alice, which was previously an operating lease asset, was accounted for as a sales-type lease. The carrying value of the container vessel was therefore reclassified from vessels and equipment to investment in lease asset.

NEWBUILDINGS AND VESSEL PURCHAS

NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS	6 Months Ended
	Jun. 30, 2017
NEWBUILDINGS [Abstract]
NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS	NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS The Company took no delivery of newbuilding vessels during the six months ended June 30, 2017 . As at June 30, 2017 , the Company had agreements for the construction of two newbuilding oil product carriers. Total costs of $12.5 million including capitalized interest of $0.9 million were paid in respect of these newbuildings in the six months ended June 30, 2017 .

INVESTMENTS IN DIRECT FINANCING

INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES	6 Months Ended
	Jun. 30, 2017
Net Investment in Direct Financing and Sales Type Leases [Abstract]
INVESTMENTS IN DIRECT FINANCING LEASES AND SALES-TYPE LEASES	INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES As at June 30, 2017 , the Company had 9 VLCCs and one Suezmax tanker on charter to Frontline Shipping Limited (“Frontline Shipping”), a wholly owned subsidiary of Frontline, a related party. These tankers are on long-term, fixed rate time charters which extend for various periods depending on the age of the vessels, ranging from approximately three to 10 years. The terms of the charters do not provide Frontline Shipping with an option to terminate the charters before the end of their terms. One of the Company's offshore support vessels is chartered on a long-term bareboat charter to Deep Sea Supply Shipowning II AS ("Deep Sea"), a wholly owned subsidiary of Deep Sea Supply AS, which in turn is a wholly owned subsidiary of Solship Invest 3 AS ("Solship", formerly Deep Sea Supply Plc., a related party). Solship is a wholly owned subsidiary of Solstad Farstad ASA, following the merger agreement between Solstad Offshore ASA, Farstad Shipping ASA and Deep Sea Supply Plc., which was completed in June 2017. The terms of the charter existing at June 30, 2017 , provided the charterer with a call option to acquire the vessel at the expiry of the charter in 2023. Following amendment agreements entered into in September 2017, the charter includes a minimum fixed price put option at expiry of the charter, which has been extended to the end of December 2027. (See Note 18: Subsequent Events). In addition to the above 11 vessels leased to related parties, the Company also had two container vessels accounted for as direct financing leases and one container vessel accounted for as a sales-type lease as at June 30, 2017 , which are on long-term bareboat charters to MSC, an unrelated party. The terms of the charters provide a fixed price put option or purchase obligation at the expiry of the 15 year charter period for two of the container vessels and a minimum fixed price purchase obligation at the expiry of the five year charter period for the third container vessel. As at June 30, 2017 , the Company had a total of 14 vessels accounted for as direct financing and sales-type leases ( December 31, 2016 : 14 vessels). The following lists the components of the investments in direct financing and sales-type leases as at June 30, 2017 and December 31, 2016 : (in thousands of $) June 30, 2017 December 31, 2016 Total minimum lease payments to be received 979,992 862,083 Less : amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (237,278 ) (287,168 ) Net minimum lease payments receivable 742,714 574,915 Estimated residual values of leased property (un-guaranteed) 243,974 213,901 Less : unearned income (341,215 ) (232,781 ) Total investment in direct financing and sales-type leases 645,473 556,035 Current portion 33,083 32,220 Long-term portion 612,390 523,815 Total investment in direct financing and sales-type leases 645,473 556,035

INVESTMENT IN ASSOCIATED COMPAN

INVESTMENT IN ASSOCIATED COMPANIES	6 Months Ended
	Jun. 30, 2017
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, 2017 , June 30, 2016 and December 31, 2016 , the Company had the following participation in investments that are recorded using the equity method: June 30, 2017 June 30, 2016 December 31, 2016 SFL Deepwater Ltd (“SFL Deepwater”) 100 % 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 wholly-owned equity method investees is as follows: As of June 30, 2017 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Current assets 126,227 34,296 39,690 52,241 Non-current assets 1,035,580 320,093 308,941 406,546 Total assets 1,161,807 354,389 348,631 458,787 Current liabilities 112,524 28,020 32,373 52,131 Non-current liabilities 1,049,192 326,333 316,248 406,611 Total liabilities 1,161,716 354,353 348,621 458,742 Total stockholders’ equity 91 36 10 45 As of December 31, 2016 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Current assets 122,675 33,763 38,351 50,561 Non-current assets 1,094,442 335,229 326,562 432,651 Total assets 1,217,117 368,992 364,913 483,212 Current liabilities 107,026 25,512 29,280 52,234 Non-current liabilities 1,109,961 343,426 335,603 430,932 Total liabilities 1,216,987 368,938 364,883 483,166 Total stockholders’ equity 130 54 30 46 Summarized statement of operations information of the Company’s wholly-owned equity method investees is as follows: Six months ended June 30, 2017 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 38,987 10,879 11,614 16,494 Net operating revenues 38,987 10,879 11,614 16,494 Net income 13,855 3,382 3,730 6,743 Six months ended June 30, 2016 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 40,565 11,112 11,738 17,715 Net operating revenues 40,565 11,112 11,738 17,715 Net income 14,322 3,520 3,350 7,452 Year ended December 31, 2016 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 80,269 22,088 23,292 34,889 Net operating revenues 80,269 22,088 23,292 34,889 Net income 27,765 6,778 6,424 14,563 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. and Seadrill Offshore AS, fully guaranteed by their parent company Seadrill Limited (“Seadrill”), a related party. In June 2013, SFL Deepwater transferred one of the rigs and the corresponding lease to SFL Hercules (see below). Accordingly, SFL Deepwater now holds one ultra-deepwater drilling rig which is leased to Seadrill Deepwater Charterer Ltd. In October 2013, SFL Deepwater entered into a $390.0 million five year term loan and revolving credit facility with a syndicate of banks, which was used in November 2013 to refinance the previous loan facility. At June 30, 2017 , the balance outstanding under the new facility was $237.1 million , and the available amount under the revolving part of the facility was fully drawn. The Company guaranteed $75.0 million of this debt at June 30, 2017 . In addition, the Company has given the banks a first priority pledge over all shares of SFL Deepwater and assigned all claims under a secured loan made by the Company to SFL Deepwater in favour of the banks. This loan is secured by a second priority mortgage over the rig which has been assigned to the banks. The rig is chartered on a bareboat basis and the terms of the charter provide the charterer 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 the six months ended June 30, 2017 , SFL Deepwater paid dividends of $3.4 million ( six months ended June 30, 2016 : $43.0 million ; year ended December 31, 2016 : $46.3 million ). SFL Hercules is a 100% owned subsidiary of Ship Finance, incorporated in January 2012 for the purpose of holding an ultra-deepwater drilling rig and leasing that rig to Seadrill Offshore AS, fully guaranteed by its parent company Seadrill. The rig was transferred, together with the corresponding lease, to SFL Hercules from SFL Deepwater in June 2013. In May 2013, SFL Hercules entered into a $375 million six year term loan and revolving credit facility with a syndicate of banks to partly finance its acquisition of the rig from SFL Deepwater. The facility was drawn in June 2013 and at June 30, 2017 , the balance outstanding under this facility was $265.0 million . At June 30, 2017 , the available amount under the revolving part of the facility was fully drawn. The Company guaranteed $70.0 million of this debt at June 30, 2017 . In addition, the Company has given the banks a first priority pledge over all shares of SFL Hercules and assigned all claims under a secured loan made by the Company to SFL Hercules in favour of the banks. This loan is secured by a second priority mortgage over the rig which has been assigned to the banks. The rig is chartered on a bareboat basis and the terms of the charter provide the charterer 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 Hercules is the subject of a lease which includes both fixed price call options and a fixed price purchase obligation at the end of the charter, 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 the six months ended June 30, 2017 , SFL Hercules paid dividends of $3.8 million ( six months ended June 30, 2016 : $22.0 million ; year ended December 31, 2016 : $25.1 million ). SFL Linus is a 100% owned subsidiary of Ship Finance, acquired in 2013 from North Atlantic Drilling Ltd (“NADL”), a related party. SFL Linus holds a harsh environment jack-up drilling rig which was delivered from the shipyard in February 2014 and immediately leased to North Atlantic Linus Charterer Ltd., fully guaranteed by its parent company NADL. In October 2013, SFL Linus entered into a $475 million five year term loan and revolving credit facility with a syndicate of banks to partly finance the acquisition of the rig. The facility was drawn in February 2014, and at June 30, 2017 , the balance outstanding under this facility was $332.5 million . At June 30, 2017 , the available amount under the revolving part of the facility was fully drawn. The Company guaranteed $90.0 million of this debt at June 30, 2017 . In addition, the Company has given the banks a first priority pledge over all shares of SFL Linus and assigned all claims under a secured loan made by the Company to SFL Linus in favour of the banks. This loan is secured by a second priority mortgage over the rig which has been assigned to the banks. In February 2015, amendments were made to the lease, whereby Seadrill replaced NADL as lease guarantor. The rig is chartered on a bareboat basis and the terms of the charter provide the charterer with various call options to acquire the rig at certain dates throughout the charter. In addition, the charter includes a fixed price put option at expiry of the charter 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 the six months ended June 30, 2017 , SFL Linus paid dividends of $7.3 million ( six months ended June 30, 2016 : $32.0 million ; year ended December 31, 2016 : $42.1 million ). SFL Deepwater, SFL Hercules and SFL Linus have loan facilities for which Ship Finance provides limited guarantees, as indicated above. These loan facilities contain financial covenants, with which both Ship Finance and Seadrill must comply. As at June 30, 2017 , Ship Finance and Seadrill were in compliance with all of the covenants under these long-term debt facilities. In September 2017, Seadrill announced that it has entered into a restructuring agreement, which will be implemented by way of prearranged chapter 11 cases (the “Restructuring Plan” ). As part of the Restructuring Plan, the financial covenants on Seadrill will be replaced by financial covenants on a newly established subsidiary of Seadrill, who will also act as guarantor for the obligations under the leases for the three drilling units. If the Restructuring Plan is terminated or not approved by the court, there is a risk that the Company, will not be in compliance with the applicable loan covenants and the outstanding amounts under the long-term debt facilities may become due and payable. (See also Note18: Subsequent Events).

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2017
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, 2017 December 31, 2016 Long-term debt: NOK600 million senior unsecured floating rate bonds due 2017 17,482 65,445 3.25% senior unsecured convertible bonds due 2018 184,202 184,202 NOK900 million senior unsecured floating rate bonds due 2019 90,764 87,801 5.75% senior unsecured convertible bonds due 2021 225,000 225,000 NOK500 million senior unsecured floating rate bonds due 2020 59,871 — U.S. dollar denominated floating rate debt (LIBOR plus margin) due through 2023 1,117,284 1,017,558 Total debt principal 1,694,603 1,580,006 Less: Unamortized debt issuance costs (23,011 ) (27,132 ) Less: Current portion of long-term debt (487,859 ) (174,900 ) Total long-term debt 1,183,733 1,377,974 The outstanding debt as of June 30, 2017 is repayable as follows: (in thousands of $) Year ending December 31, 2017 (remaining six months) 87,727 2018 463,783 2019 267,444 2020 231,931 2021 457,412 Thereafter 186,306 Total debt principal 1,694,603 The weighted average interest rate for floating rate debt denominated in U.S. dollars and Norwegian kroner (“NOK”) was 4.56% per annum at June 30, 2017 ( December 31, 2016 : 4.20% ). This rate takes into consideration the effect of related interest rate swaps. At June 30, 2017 , the three month US Dollar London Interbank Offered Rate, or LIBOR, was 1.299% ( December 31, 2016 : 0.998% ) and the Norwegian Interbank Offered Rate, or NIBOR, was 0.83% ( December 31, 2016 : 1.17% ). 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. Since their issue, the Company has purchased bonds with principal amounts totaling NOK454.0 million , net. As at June 30, 2017 , the net outstanding of bonds purchased have been canceled and the net amount outstanding at June 30, 2017 , was NOK146.0 million , equivalent to $17.5 million ( December 31, 2016 : NOK565 million , equivalent to $65.4 million ). The outstanding amount as at June 30, 2017 was redeemed in full in July 2017, following the exercise of the call option by the Company (see also Note 18: Subsequent Events). 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 $13.5535 per share. Also, subsequent to the bond issue, the Company has purchased and canceled bonds with principal amounts totaling $165.8 million and the net amount outstanding at June 30, 2017 was $184.2 million ( December 31, 2016 : $184.2 million ). 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 $0.6 million for the six months ended June 30, 2017 . 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 has purchased bonds with principal amounts totaling NOK142.0 million at June 30, 2017 , which are being held as treasury bonds. The net amount outstanding at June 30, 2017 , was NOK758 million , equivalent to $90.8 million ( December 31, 2016 : NOK758 million , equivalent to $87.8 million ). 5.75% senior unsecured convertible bonds due 2021 On October 5, 2016, the Company issued a senior unsecured convertible bond loan totaling $225.0 million . Interest on the bonds is fixed at 5.75% per annum and is payable in cash quarterly in arrears on January 15, April 15, July 15 and October 15. The bonds are convertible into Ship Finance International Limited common shares and mature on October 15, 2021 . The initial conversion rate at the time of issuance was 56.2596 common shares per $1,000 bond, equivalent to a conversion price of approximately $17.7747 per share. The conversion rate will be adjusted for dividends in excess of $0.225 per common share per quarter. Since issuance, dividend distributions have increased the conversion rate to 59.5336 , equivalent to a conversion price of approximately $16.7983 per share. The net amount outstanding at June 30, 2017 was $225.0 million ( December 31, 2016 : $225.0 million ). In conjunction with the bond issue, the Company loaned up to 8,000,000 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 initially borrowed from Hemen Holding Ltd., the largest shareholder of the Company, for a one-time loan fee of $120,000 . In November 2016, the Company issued 8,000,000 new shares, to replace the shares borrowed from Hemen Holding Ltd. The Company received $80,000 from Hemen Holding Ltd. upon the return of the borrowed shares. 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 $4.6 million in 2016 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 $0.5 million for the six months ended June 30, 2017 . NOK500 million senior unsecured bonds due 2020 On June 22, 2017, the Company issued a senior unsecured bond loan totaling NOK500 million in the Norwegian credit market. The bonds bear quarterly interest at NIBOR plus a margin and are redeemable in full on June 22, 2020 . The net amount outstanding at June 30, 2017 , was NOK500 million , equivalent to $59.9 million ( December 31, 2016 : $ nil , equivalent to $ nil ). $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 serves as 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, 2017 , the amount available under the revolving part of the facility was $20.0 million . The net amount outstanding at June 30, 2017 , was $ nil ( December 31, 2016 : $ nil ). $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, bearing interest at LIBOR plus a margin and with a term of approximately five years. The facility is secured against a Suezmax tanker. In November 2014, the terms of the loan were amended and restated, and the facility now matures in November 2019. The net amount outstanding at June 30, 2017 , was $22.0 million ( December 31, 2016 : $23.4 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, bearing interest at LIBOR plus a margin and with a term of five years. The facility is secured against a Suezmax tanker. In March 2015, the terms of the loan were amended and restated, and the facility now matures in March 2020. The net amount outstanding at June 30, 2017 , was $22.0 million ( December 31, 2016 : $23.4 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 against two Supramax dry bulk 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, 2017 , was $28.3 million ( December 31, 2016 : $30.2 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 against three Supramax dry bulk 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 approximately eight years. The net amount outstanding at June 30, 2017 , was $41.9 million ( December 31, 2016 : $44.9 million ). $171 million secured 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, which provides an insurance policy in favor of the banks for part of the outstanding loan. The facility is secured against a 1,700 TEU container vessel and seven Handysize dry bulk 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, 2017 , was $104.0 million ( December 31, 2016 : $110.1 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, 2017 , was $33.3 million ( December 31, 2016 : $35.5 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 and revolving credit facility with a bank, secured against seven 4,100 TEU container vessels. The facility bears interest at LIBOR plus a margin and has a term of five years. At June 30, 2017 , the available amount under the revolving part of the facility was $9.0 million . The net amount outstanding at June 30, 2017 , was $36.0 million ( December 31, 2016 : $36.0 million ). $101 million secured term loan facility In August 2014, six wholly-owned subsidiaries of the Company entered into a $101.4 million secured term loan facility with a syndicate of banks, secured against six offshore support vessels. One of the vessels was sold in February 2016, and the facility now relates to the remaining five 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 five years. The net amount outstanding at June 30, 2017 , was $54.7 million ( December 31, 2016 : $54.7 million ). $20 million secured term loan facility In September 2014, two wholly-owned subsidiaries of the Company entered into a $20.0 million secured term loan facility with a bank, secured against two 5,800 TEU container vessels. The facility bears interest at LIBOR plus a margin and has a term of five years . The net amount outstanding at June 30, 2017 , was $20.0 million ( December 31, 2016 : $20.0 million ). $128 million secured term loan facility In September 2014, two wholly-owned subsidiaries of the Company entered into a $127.5 million secured term loan facility with a bank, secured against two 8,700 TEU container vessels which were delivered in 2014. 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, 2017 , was $105.2 million ( December 31, 2016 : $109.4 million ). $128 million secured term loan facility In November 2014, two wholly-owned subsidiaries of the Company entered into a $127.5 million secured term loan facility with a bank, secured against two 8,700 TEU container vessels which were delivered in 2015. 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, 2017 , was $108.4 million ( December 31, 2016 : $112.6 million ). $39 million secured term loan facility In December 2014, two wholly-owned subsidiaries of the Company entered into a $39.0 million secured term loan facility with a bank, secured against two Kamsarmax dry bulk 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 approximately eight years. The net amount outstanding at June 30, 2017 , was $30.3 million ( December 31, 2016 : $31.5 million ). $250 million secured revolving credit facility In June 2015, 17 wholly-owned subsidiaries of the Company entered into a $250.0 million secured revolving credit facility with a syndicate of banks, secured against 17 tankers chartered to Frontline Shipping. Seven of the tankers were sold and delivered to their new owners prior to June 30, 2017 , and the facility was secured against the remaining 10 tankers at June 30, 2017 . The facility bears interest at LIBOR plus a margin and has a term of three years. At June 30, 2017 , there was no amount available to draw under the facility. The net amount outstanding at June 30, 2017 , was $178.9 million ( December 31, 2016 : $40.0 million ). $166 million secured term loan facility In July 2015, eight wholly-owned subsidiaries of the Company entered into a $166.4 million secured term loan facility with a syndicate of banks, secured against eight Capesize dry bulk 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 seven years . The net amount outstanding at June 30, 2017 , was $138.7 million ( December 31, 2016 : $145.6 million ). $210 million secured term loan facility In November 2015, three wholly-owned subsidiaries of the Company entered into a $210.0 million secured term loan facility with a syndicate of banks, to partly finance the acquisition of three container vessels, against which the facility is secured. One of the vessels was delivered in 2015, and the remaining two vessels were delivered in 2016. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of five years from the delivery of each vessel. At June 30, 2017 , the net amount outstanding was $193.6 million ( December 31, 2016 : $200.2 million ). The aggregate book value of assets pledged as security against borrowings at June 30, 2017 , was $1,914 million ( December 31, 2016 : $2,009 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, 2017 , the Company is in compliance with all of the covenants under its long-term debt facilities. The $101.4 million secured term loan facility entered into in August 2014 contains certain financial covenants on Solship. As at June 30, 2017 , Solship was in compliance with all covenants under the loan agreement.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	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 bonds due 2017 and 2019. From a financial perspective these swaps hedge interest rate and exchange rate exposure. The counterparties to such contracts are DNB Bank, Nordea Bank Finland Plc., ABN AMRO Bank N.V., NIBC Bank N.V., Skandinaviska Enskilda Banken AB (publ), ING Bank N.V., Danske Bank A/S, Swedbank AB (publ), Credit Agricole Corporate & Investment Bank and Commonwealth Bank of Australia. Credit risk exists to the extent that the counterparties are unable to perform under the contracts, but this risk is considered not to be substantial as the counterparties are all banks which have provided the Company with loans. 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, 2017 December 31, 2016 Designated derivative instruments - short-term assets: Interest rate swaps 79 110 Total derivative instruments - short-term assets 79 110 Designated derivative instruments - long-term assets: Interest rate swaps 3,809 4,540 Non-designated derivative instruments - long-term assets: Interest rate swaps 843 1,502 Total derivative instruments - long-term assets 4,652 6,042 (in thousands of $) June 30, 2017 December 31, 2016 Designated derivative instruments -short-term liabilities: Interest rate swaps — — Cross currency interest rate swaps 13,396 37,101 Non-designated derivative instruments -short-term liabilities: Interest rate swaps 238 — Cross currency interest rate swaps 25,732 2,208 Total derivative instruments - short-term liabilities 39,366 39,309 Designated derivative instruments - long-term liabilities: Interest rate swaps 9,115 10,134 Cross currency interest rate swaps 37,605 41,716 Non-designated derivative instruments - long-term liabilities: Interest rate swaps 1,544 1,388 Cross currency interest rate swaps 7,445 8,218 Total derivative instruments - long-term liabilities 55,709 61,456 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, 2017 , 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. Notional Principal (in thousands of $) Inception date Maturity date Fixed interest rate $27,155 (reducing to $24,794) March 2008 August 2018 4.05% - 4.15% $28,279 (reducing to $23,394) April 2011 December 2018 2.13% - 2.80% $41,929 (reducing to $34,044) May 2011 January 2019 0.80% - 2.58% $100,000 (remaining at $100,000) August 2011 August 2021 2.50% - 2.93% $139,533 (reducing to $79,733) May 2012 August 2022 1.76% - 1.85% $105,436 (equivalent to NOK600 million) October 2012 October 2017 5.92% - 6.23% * $33,250 (reducing to $32,142) February 2013 December 2017 0.81% - 0.82% $100,000 (remaining at $100,000) March 2013 April 2023 1.85% - 1.97% $151,008 (equivalent to NOK900 million) March 2014 March 2019 6.03% * $105,188 (reducing to $70,125) December 2016 December 2021 1.86% - 3.33% $108,375 (reducing to $70,125) January 2017 January 2022 1.56% - 3.09% $30,333 (reducing to $19,413) September 2015 March 2022 1.67% $193,594 (reducing to $149,844) February 2016 February 2021 1.07% - 1.26% * These swaps relate to the NOK 600 million and NOK 900 million senior unsecured bonds due 2017 and 2019, respectively, and the fixed interest rates paid are exchanged for 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. The total notional principal amount subject to swap agreements as at June 30, 2017 was $1.2 billion ( December 31, 2016 : $1.0 billion ). 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 NOK 600 million senior unsecured bonds due 2017 and the NOK 900 million senior unsecured bonds due 2019. Principal Receivable Principal Payable Inception date Maturity date NOK600 million $ 105.4 million October 2012 October 2017 NOK900 million $ 151.0 million March 2014 March 2019 Apart from the NOK 600 million and NOK 900 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, 2017 and December 31, 2016 are as follows: June 30, 2017 June 30, 2017 December 31, 2016 December 31, 2016 (in thousands of $) Carrying value Fair value Carrying value Fair value Non-derivatives: Available-for-sale securities 110,802 110,802 118,489 118,489 Floating rate NOK bonds due 2017 17,482 17,701 65,445 65,955 Floating rate NOK bonds due 2019 90,764 90,310 87,801 86,026 Floating rate NOK bonds due 2020 59,871 59,871 — — 3.25% unsecured convertible bonds due 2018 184,202 192,924 184,202 201,206 5.75% unsecured convertible bonds due 2021 225,000 217,717 225,000 224,366 Derivatives: Interest rate/ currency swap contracts - short-term receivables 79 79 110 110 Interest rate/ currency swap contracts - long-term receivables 4,652 4,652 6,042 6,042 Interest rate/ currency swap contracts - short-term payables 39,366 39,366 39,309 39,309 Interest rate/ currency swap contracts - long-term payables 55,709 55,709 61,456 61,456 The above short-term receivables relating to interest rate/ currency swap contracts all relate to designated hedges at June 30, 2017 and December 31, 2016 . The above long-term receivables relating to interest rate/ currency swap contracts at June 30, 2017 , include $0.8 million which relates to non-designated swap contracts ( December 31, 2016 : $1.5 million ), with the balance relating to designated hedges. The above short-term payables relating to interest rate/ currency swap contracts at June 30, 2017 , include $26.0 million which relates to non-designated swap contracts ( December 31, 2016 : $2.2 million ), with the balance relating to designated hedges. The above long-term payables relating to interest rate/ currency swap contracts at June 30, 2017 , include $9.0 million which relates to non-designated swap contracts ( December 31, 2016 : $9.6 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, 2016 , 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, 2017 , were measured as follows: Fair value measurements using, (in thousands of $) June 30, 2017 Quoted Prices in Active Markets for identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Available-for-sale securities 110,802 110,802 — Interest rate/ currency swap contracts – short-term receivables 79 79 Interest rate/ currency swap contracts - long-term receivables 4,652 4,652 Total assets 115,533 110,802 4,731 — Liabilities: Floating rate NOK bonds due 2017 17,701 17,701 Floating rate NOK bonds due 2019 90,310 90,310 Floating rate NOK bonds due 2020 59,871 59,871 3.25% unsecured convertible bonds due 2018 192,924 192,924 5.75% unsecured convertible bonds due 2021 217,717 217,717 Interest rate/ currency swap contracts – short-term payables 39,366 39,366 Interest rate/ currency swap contracts – long-term payables 55,709 55,709 Total liabilities 673,598 578,523 95,075 — 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 estimated fair values for the floating rate NOK denominated bonds due 2017, 2019 and 2020, and the 3.25% and 5.75% unsecured convertible bonds due 2018 and 2021, 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, 2017 . 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, Nordea, Bank of Valletta and Credit Agricole Corporate and Investment Bank. However, the Company believes this risk is remote. Since the Company was spun-off from Frontline in 2004, Frontline has accounted for a significant proportion of our operating revenues. In the six months ended June 30, 2017 , Frontline accounted for approximately 18% of our consolidated operating revenues ( six months ended June 30, 2016 : 33% ; year ended December 31, 2016 : 28% ). There is therefore a concentration of revenue risk with Frontline. In addition, a significant portion of our net income is generated from our associated companies that lease rigs to subsidiaries of Seadrill including NADL, which is fully guaranteed by Seadrill. In the six months ended June 30, 2017 , income from our associated companies accounted for approximately 42% of our consolidated net income ( six months ended June 30, 2016 : 28% ; year ended, December 31, 2016 : 32% ). There is therefore a concentration of risk with Seadrill. In September 2017, Seadrill announced its Restructuring Plan. The Company and three of the Company's subsidiaries, who own and lease the drilling rigs West Linus, West Hercules and West Taurus to Seadrill, have also entered into the Restructuring Plan. As part of the agreement, Ship Finance and its relevant subsidiaries have agreed to reduce the contractual charter hire payable by Seadrill by approximately 30% for a 5 -year period starting in 2018, with the reduced amounts added back in the period thereafter. The call options on behalf of Seadrill under the relevant leases have also been amended as part of the Restructuring Plan. The leases for West Hercules and West Taurus will also be extended for a period of 13 months until December 2024, with amended purchase obligations at the new expiry of the charters. Concurrently, the banks who finance the three rigs have agreed to extend the loan period by approximately four years under each of the facilities, with reduced amortization in the extension period compared to today's level. If the Restructuring Plan is terminated or not approved by the court, the Company's income generated from associated companies could be reduced or eliminated and could also result in a default under the respective loan facilities provided by the banks in these associated companies resulting in them calling on guarantees provided by the Company. As discussed in Note 16: Commitments and Contingent Liabilities, the Company, at June 30, 2017 , guaranteed a total of $235 million ( December 31, 2016 : $240 million ) of the bank debt in these companies and had outstanding receivable balance on loans granted by the Company to these associated companies totaling $314.0 million at June 30, 2017 ( December 31, 2016 : $330.7 million ). The loans granted by the Company are considered not impaired at June 30, 2017 , due to the fair value of the ultra deepwater drilling rigs owned by SFL Deepwater and SFL Hercules exceeding the book values at June 30, 2017 and due to current employment under a sub-charter and generally high utilization rates for the type of harsh environment jack-up rig in SFL Linus.

SHARE CAPITAL, ADDITIONAL PAID-

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS	6 Months Ended
	Jun. 30, 2017
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, 2017 December 31, 2016 150,000,000 common shares of $0.01 par value each (December 31, 2016: 150,000,000 shares of $0.01 par value each) 1,500 1,500 Issued and fully paid share capital is as follows: (in thousands of $, except share data) June 30, 2017 December 31, 2016 101,504,575 common shares of $0.01 par value each (December 31, 2016: 101,504,575 shares of $0.01 par value each) 1,015 1,015 The Company’s common shares are listed on the New York Stock Exchange. In November 2006, the Board of Directors approved the Ship Finance International Limited Share Option Scheme (the "Option Scheme"). The Option Scheme permits the Board of Directors, at its discretion, to grant options to employees, officers and directors of the Company or its subsidiaries. The fair value cost of options granted is recognized in the statement of operations, and the corresponding amount is credited to additional paid-in capital. In the six months ended June 30, 2017 , additional paid-in capital was credited with $0.2 million relating to the fair value of options granted in March 2016.

OTHER LONG-TERM LIABILITIES

OTHER LONG-TERM LIABILITIES	6 Months Ended
	Jun. 30, 2017
Other Liabilities Disclosure [Abstract]
OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES (in thousands of $) June 30, 2017 December 31, 2016 Unamortized sellers' credit 5,046 6,124 Obligations under capital leases - long-term portion 234,573 118,754 Other items 6 4 239,625 124,882 The unamortized seller's credit is in respect of the five offshore support vessels on long-term bareboat charters to Deep Sea. In October 2015, the Company entered into agreements to charter-in two newbuilding container vessels on a bareboat basis, each for a period of 15 years from delivery by the shipyard, and to charter-out each vessel for the same 15 -year period on a bareboat basis to MSC, an unrelated party. The first vessel was delivered in December 2016 and the second vessel was delivered in March 2017. These two vessels are accounted for as direct financing lease assets. The Company's future minimum lease obligations under the non-cancellable lease are as follows: (in thousands of $) Year ending December 31, 2017 (remaining six months) 12,630 2018 25,054 2019 25,054 2020 25,122 2021 25,054 Thereafter 306,903 Total lease obligations 419,817 Less: imputed interest payable (177,729 ) Present value of obligations under capital lease 242,088 Less: current portion (7,515 ) Obligations under capital lease - long-term portion 234,573

SHARE OPTION PLAN

SHARE OPTION PLAN	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE OPTION PLAN	SHARE OPTION PLAN The Option Scheme adopted in November 2006 expired in November 2016 and the Board adopted a new Share Option Plan which will expire in November 2026. The terms and conditions are the same as the Option Scheme adopted in November 2006. No options were granted or exercised under the scheme in the six months ended June 30, 2017 . As at June 30, 2017 , the unrecognized compensation cost relating to non-vested options granted under the Company's Option Scheme was $0.3 million ( December 31, 2016 : $0.5 million ).

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2017
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, or had, a significant direct or indirect interest: – Frontline – Frontline Shipping – Seadrill – NADL – Golden Ocean Group Limited (“Golden Ocean”) – United Freight Carriers (“UFC” - which is a joint venture approximately 50% owned by Golden Ocean) – Deep Sea – Seatankers Management Co. Ltd. (“Seatankers”) – NorAm Drilling – Golden Close The Condensed Consolidated Balance Sheets include the following amounts due from and to related parties and associated companies, excluding direct financing lease balances (see Note 8: Investment in Direct Financing and Sales-Type Leases). (in thousands of $) June 30, 2017 December 31, 2016 Amounts due from: Frontline Shipping — 11,906 Frontline 5,183 3,008 Deep Sea 1,843 1,945 SFL Deepwater 2,594 — SFL Hercules 3,078 — SFL Linus 4,235 660 Total amount due from related parties 16,933 17,519 Loans to related parties - associated companies, long-term SFL Deepwater 113,000 119,167 SFL Hercules 80,000 85,920 SFL Linus 121,000 125,000 Total loans to related parties - associated companies, long-term 314,000 330,087 Long-term receivables from related parties Deep Sea 8,171 9,268 Total long-term receivables from related parties 8,171 9,268 Amounts due to: Frontline Shipping 1,968 229 Frontline 848 493 Golden Ocean 369 — Deep Sea 200 — Seatankers 45 79 Other related parties 49 49 Total amount due to related parties 3,479 850 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, 2017 within the financial statements (see Note 9: Investment In Associated Companies). As described below in “Related party loans”, at June 30, 2017 the long-term loans from Ship Finance to 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. Related party leasing and service contracts As at June 30, 2017 , 10 of the Company’s vessels leased to Frontline Shipping ( December 31, 2016 : 12 ) and one of its offshore support vessels leased to Deep Sea ( December 31, 2016 : one ) are recorded as direct financing leases. At June 30, 2017 , the combined balance of net investments in direct financing leases with Frontline Shipping and Deep Sea was $355.2 million ( December 31, 2016 : $411.1 million ), of which $26.0 million ( December 31, 2016 : $28.9 million ) represents short-term maturities. In November 2016, the Company agreed to sell the VLCC Front Century which was leased to Frontline Shipping and accounted for as a direct financing lease asset. At December 31, 2016 , the vessel was recorded as a held for sale asset and the carrying value was $24.1 million . In March 2017, the vessel was sold and delivered to an unrelated third party. A loss of $26,000 was recorded on the disposal, the proceeds of which included $20.5 million gross sales proceeds and an early termination of charter compensation of $4.1 million . An impairment charge of $0.5 million had been recorded against the carrying value of the vessel in the year ended December 31, 2016 . Similarly, the Suezmax Front Brabant and the VLCC Front Scilla which were also on charter to Frontline Shipping were sold to unrelated third parties in May 2017 and June 2017, respectively. The Company received termination fees of $3.6 million and $6.5 million from Frontline Shipping for the early termination of the charters and recorded losses of $1.7 million and $1.1 million , respectively, on the disposals. In addition, included under operating leases at June 30, 2017 , there were four offshore support vessels leased to Deep Sea ( December 31, 2016 : four ) and eight Capesize dry bulk carriers leased to a subsidiary of Golden Ocean ( December 31, 2016 : eight ). At June 30, 2017 , the net book value of assets leased under operating leases to Golden Ocean and Deep Sea was $317.1 million ( December 31, 2016 : $328.6 million ). On June 5, 2015, amendments were made to the charter agreements with Frontline Shipping, relating to VLCCs and Suezmax tankers accounted for as direct financing leases. The amendments, which do not affect the duration of the leases and were effective from July 1, 2015, consist of reductions in the long-term daily time charter rates to $20,000 per day for VLCCs and $15,000 per day for Suezmax tankers, and increases in the daily management and operating fees payable to a subsidiary of Frontline to $9,000 per day for all vessels. As part of the amended agreements, the Company's profit sharing percentage increased from 25% to 50% , and is now calculated and paid on a quarterly basis. In the six months ended June 30, 2017 , the Company recorded profit share revenues of $5.6 million ( six months ended June 30, 2016 : $38.7 million ; year ended December 31, 2016 : $50.9 million ), all of which related to the 50% arrangement effective from July 1, 2015. In consideration for amendments to the charter agreements made on June 5, 2015, the Company received 55 million ordinary shares in Frontline, representing approximately 27.73% of the issued share capital of Frontline at the time of receipt in June 2015. On November 30, 2015, Frontline merged with Frontline 2012 and increased its issued share capital, reducing the Company's holding to approximately 7.03% . Accordingly, from June 5, 2015 to November 30, 2015, the Company's shareholding in Frontline was accounted for as an investment in associated companies (see Note 9: Investment in associated companies). Since December 1, 2015, the Company's holding in Frontline shares has been held under available-for-sale securities (see Note 5: Available-for-sale securities). In February 2016, Frontline enacted a 1-for-5 reverse stock split on its ordinary shares, resulting in the Company's holding in Frontline to consist of 11 million ordinary shares. At June 30, 2017 , the Company's 11 million ordinary shares in Frontline, represented approximately 6.48% of the issued share capital of Frontline. In the six months ended June 30, 2017 , the Company had eight dry bulk carriers operating on time charters to a subsidiary of Golden Ocean, which include profit sharing arrangements whereby the Company earns a 33% share of profits earned by the vessels above threshold levels. In the six months ended June 30, 2017 , the Company earned no profit share revenue under this arrangement ( six months ended June 30, 2016 : $ nil ; year ended December 31, 2016 : $ nil ). In the six months ended June 30, 2017 , the Company had five offshore support vessels on long-term bareboat charters to Deep Sea which include profit sharing arrangements whereby the Company earns a 50% profit share on charter revenues earned by the vessels above the set base charter rates, calculated on a time charter equivalent basis. In the six months ended June 30, 2017 , the Company earned no profit share revenue under this arrangement ( six months ended June 30, 2016 : $ nil ; year ended December 31, 2016 : $ nil ). During 2016, the Company recorded profit share income in respect of a 50% profit sharing arrangement on certain dry bulk carriers previously on time charters to UFC ( six months ended June 30, 2016 : $0.3 million ; year ended December 31, 2016 : $0.6 million ). In the six months ended June 30, 2017 , the Company had no vessels on charter to UFC. A summary of leasing revenues and repayments from the Frontline Shipping, Golden Ocean, UFC and Deep Sea is as follows: Six months ended Year ended (in thousands of $) June 30, 2017 June 30, 2016 December 31, 2016 Operating lease income 29,540 34,943 65,340 Direct financing lease interest income 9,385 12,208 22,850 Finance lease service revenue 19,827 22,932 44,523 Direct financing lease repayments 14,064 16,309 30,321 Profit share and cash sweep income 5,591 38,937 51,470 In addition to leasing revenues and repayments, the Company incurred the following fees with related parties: Six months ended Year ended (in thousands of $) June 30, 2017 June 30, 2016 December 31, 2016 Frontline: Vessel Management Fees 20,506 23,629 45,931 Commissions and Brokerage 112 204 390 Administration Services Fees 172 180 576 Golden Ocean: Vessel Management Fees 10,136 10,192 20,496 Operating Management Fees 370 404 795 Seatankers: Administration Services Fees 22 157 315 Office Facilities: Seatankers Management Norway AS 80 155 317 Frontline Corporate Services Ltd 131 238 235 Related party loans – associated companies Ship Finance has entered into agreements with SFL Deepwater, SFL Hercules and SFL Linus, granting them loans of $145 million , $145 million , and $125 million , respectively at fixed interest rates. These loans are repayable in full by July 11, 2023, October 1, 2023, and June 30, 2029, respectively, or earlier if the companies sell their drilling units. The outstanding balances as at June 30, 2017 , were $113.0 million , $80.0 million , and $121.0 million for the loans to SFL Deepwater, SFL Hercules and SFL Linus, respectively. In the six months ended June 30, 2017 , the Company received interest income on these loans of $2.9 million from SFL Deepwater ( six months ended June 30, 2016 : $3.3 million ; year ended December 31, 2016 : $6.5 million ), $2.5 million from SFL Hercules ( six months ended June 30, 2016 : $3.3 million ; year ended December 31, 2016 : $6.5 million ) and $2.8 million from SFL Linus ( six months ended June 30, 2016 : $2.8 million ; year ended December 31, 2016 : $5.6 million ). Long-term receivables from related parties The Company received a loan note from Solship (formerly Deep Sea Supply Plc.) as compensation for the early termination of the charter on an offshore support vessel in February 2016. In the six months ended June 30, 2017 , the Company received $0.5 million interest on the loan note ( six months ended June 30, 2016 : $0.4 million ; year ended December 31, 2016 : $0.9 million ). Other related party investments and income In the six months ended June 30, 2017 , the Company received dividends of $3.3 million on its holding of shares in Frontline ( six months ended June 30, 2016 : $8.3 million ; year ended December 31, 2016 : $11.6 million ). In the six months ended June 30, 2017 , the Company recorded interest income of $0.3 million and other income of $0.1 million on its holding of investments in secured notes issued by NorAm Drilling ( six months ended June 30, 2016 : $0.2 million ; year ended December 31, 2016 : $0.5 million ). In the six months ended June 30, 2017 , the Company received 8.9 million shares in Golden Close as part of a bond restructuring undertaken by Golden Close. These shares, on which no dividend income was received in the six months ended June 30, 2017 , represent approximately 20% of the outstanding shares in the company. The Company's investments in convertible and secured notes issued by Golden Close are held as available-for-sale securities and have a carrying value of $29.9 million . The Company recorded interest income on these notes of $0.6 million in the six months ended June 30, 2017 ( six months ended June 30, 2016 : $0.2 million ; year ended December 31, 2016 : $0.2 million ). In June 2017, the Company facilitated a performance guarantee in favour of an oil company relating to a new contract for the drillship Deepsea Metro 1, which is owned by Golden Close. The guarantee has a maximum liability limited to $18.0 million , a maturity of up to 6 months, and is secured under a first lien mortgage over the drillship, ranking ahead of other secured claims. In the six months ended June 30, 2017 , the Company recorded a net fee income of $0.2 million for facilitating the guarantee and as at June 30, 2017 , the Company had restricted cash balance of $9.0 million in connection with the transaction.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Assets Pledged (in millions of $) June 30, 2017 December 31, 2016 Book value of consolidated assets pledged under ship mortgages $1,914 $2,009 The Company and its equity-accounted subsidiaries have funded their acquisition of vessels, jack-up rigs 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, 2017 , the Company ( $1.7 billion ) and its 100% equity-accounted subsidiaries ( $834.6 million ) had a combined outstanding principal indebtedness of $2.5 billion ( December 31, 2016 : $2.5 billion ) under various credit facilities. Most of the Company’s vessels and rigs have been pledged under mortgages in respect of this outstanding indebtedness as at June 30, 2017 , excluding three 1,700 TEU container vessels, a jack-up drilling rig and two 114,000 dwt LR2 newbuilding oil product tankers. Other Contractual Commitments and Contingencies The Company has arranged insurance for the legal liability risks for its shipping activities with Gard P.& I. (Bermuda) Ltd, Assuranceforeningen Skuld (Gjensidig), The Steamship Mutual Underwriting Association Limited, The Korea Shipowner’s Mutual Protection & Indemnity Association, The West of England Ship Owners Mutual Insurance Association (Luxembourg), North of England P&I Association Limited, The Standard Club Europe Ltd and The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited, all of which are mutual protection and indemnity associations. 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. SFL Deepwater, SFL Hercules and SFL Linus are wholly-owned subsidiaries of the Company accounted for using the equity method. Accordingly, their assets and liabilities are not consolidated in the Company's Consolidated Balance Sheets, but are presented on a net basis under “Investment in associated companies”. As of June 30, 2017 , their combined borrowings amounted to $834.6 million ( December 31, 2016 : $883.4 million ) and the Company guaranteed $235 million ( December 31, 2016 : $240 million ) of this debt which is secured by first priority mortgages over the relevant rigs. In September 2017, amendments were made to the facility agreements whereby the minimum guarantee amounts will be $75 million for SFL Deepwater, $70 million for SFL Hercules and $90 million for SFL Linus, and increased by any net cash amounts received by the Company from the relevant subsidiaries. In addition, the Company has assigned all claims it may have under its secured loans to SFL Deepwater, SFL Hercules and SFL Linus, in favor of the lenders under the respective credit facilities. These loans had a total outstanding balance of $314.0 million at June 30, 2017 ( December 31, 2016 : $330.7 million ) and are secured by second priority mortgages over each of the rigs, which have been assigned to the lenders under the respective credit facilities. The lenders under the respective credit facilities have also been granted a first priority pledge over all shares of the relevant asset owning subsidiaries. In June 2017, the Company facilitated a performance guarantee in favour of an oil company relating to a new contract for the drillship Deepsea Metro 1, which is owned by Golden Close, a related party. The guarantee has a maximum liability limited to $18.0 million , a maturity of up to 6 months, and is secured under a first lien mortgage over the drillship, ranking ahead of other secured claims. The guarantee is fully indemnified by Golden Close. In September 2017, the performance guarantee was canceled. At June 30, 2017 , the Company had commitments under contracts to acquire newbuilding vessels totaling $65.2 million ( December 31, 2016 : $76.1 million ). There were no other material contractual commitments at June 30, 2017 . 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 law suits.

CONSOLIDATED VARIABLE INTEREST

CONSOLIDATED VARIABLE INTEREST ENTITIES	6 Months Ended
	Jun. 30, 2017
CONSOLIDATED VARIABLE INTEREST ENTITIES [Abstract]
CONSOLIDATED VARIABLE INTEREST ENTITIES	CONSOLIDATED VARIABLE INTEREST ENTITIES As at June 30, 2017 , the Company’s consolidated financial statements included 26 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 April 2018 to July 2025 . 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, 2017 , the vessel of two of these entities is accounted for as a direct financing lease with a carrying value of $21.7 million , unearned lease income of $2.3 million and estimated residual value of $5.8 million . The outstanding loan balance in this entity is $6.0 million , of which the short-term portion is $ nil . The other 24 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, 2017 , of $546.6 million . The outstanding loan balances in these entities total $243.4 million , of which the short-term portion is $13.9 million .

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In July 2017, the Company redeemed in cash the full outstanding amount under the NOK600 million senior unsecured bonds due 2017. In July 2017, the Company agreed to sell the 1997-built Suezmax vessel Front Ardenne to an unrelated third party. The agreed net sales price for the vessel is approximately $12 million , including compensation receivable from Frontline Shipping for the early termination of the charters. Front Ardenne was delivered to its new owner in August 2017. In August 2017, the Company agreed to extend the charters, at a lower charter rate, for two car carriers Glovis Conductor and Glovis Composer until mid-2018 from the current expiry in late August 2017 and late September 2017, respectively. In August 2017, the Company took delivery of two 114,000 dwt LR2 newbuilding product tankers. Upon delivery, the vessels commenced their respective seven year time charters to Phillips 66, with options for the charterer to extend the period up to 12 years. The Company has finalized a $76 million long term bank financing for the vessels post-delivery, which was drawn in September 2017. In August 2017, the Company entered into cross currency interest rate swap agreements swapping all principal and interest payments under the NOK500 million senior unsecured bonds to USD and to a fixed interest rate at an average of 6.91% per annum. On August 30, 2017, the Board of Directors of the Company declared a dividend of $0.35 per share, which was paid in cash on September 29, 2017. In September 2017, the Company awarded a total of 113,000 options to officers and employees, pursuant to the Company's Share Option Scheme. The options have a five year term and a three year vesting period and the first options will be exercisable from September 2018 onwards. The initial strike price is $14.30 per share. In September 2017, the Company entered into amendment agreements relating to the five offshore supply vessels previously employed under long term bareboat charters to a fully guaranteed subsidiary of Deep Sea Supply Plc. The amendments were agreed in June 2017, subject to certain conditions, in connection with the merger between Deep Sea Supply Plc., Solstad Offshore ASA and Farstad Shipping ASA. The new listed entity is called Solstad Farstad ASA. The amendments include amongst others a reduction of the charter rates, an extension of the charters and the introduction of put options at the expiry of the charters. Following the merger, Solship, a wholly owned subsidiary of Solstad Farstad ASA, acts as charter guarantor under our agreements. Concurrently, the banks who finance the vessels have agreed to extend the loan period by approximately three years. In September 2017, Seadrill announced that it has entered into a restructuring agreement (the “Restructuring Plan”) with more than 97% of its secured bank lenders, approximately 40% of its bondholders and a consortium of investors led by its largest shareholder, Hemen Holding Ltd, who is also the largest shareholder in the Company. The Company and three of the Company's subsidiaries, who own and lease the drilling rigs West Linus, West Hercules and West Taurus to Seadrill, have also entered into the Restructuring Plan. The Restructuring Plan will be implemented by way of prearranged chapter 11 cases. As part of the agreement, Ship Finance and its relevant subsidiaries have agreed to reduce the contractual charter hire payable by Seadrill by approximately 30% for a 5 -year period starting in 2018, with the reduced amounts added back in the period thereafter. The call options on behalf of Seadrill under the relevant leases have also been amended as part of the restructuring plan. The leases for West Hercules and West Taurus will also be extended for a period of 13 months until December 2024, with amended purchase obligations at the new expiry of the charters. Concurrently, the banks who finance the three rigs have agreed to extend the loan period by approximately four years under each of the facilities, with reduced amortization in the extension period compared to today's level.

INTERIM FINANCIAL DATA (Policie

INTERIM FINANCIAL DATA (Policies)	6 Months Ended
	Jun. 30, 2017
INTERIM FINANCIAL DATA [Abstract]
Basis of Accounting	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, 2016 .
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09 "Revenue from Contracts with Customers" which will replace almost all existing revenue recognition guidance in U.S. GAAP and is intended to improve and converge with international standards the financial reporting requirements for revenue from contracts with customers. The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU 2014-09 was effective for reporting periods and interim periods beginning on or after December 15, 2016. In August 2015, the FASB issued ASU 2015-14 "Deferral of the Effective Date" to delay the implementation of ASU 2014-09 by one year, in response to feedback from preparers, practitioners and users of financial statements. Accordingly, ASU 2014-09 is now effective for reporting periods and interim periods beginning on or after December 15, 2017. The Company is in the process of considering the impact of the standard on its consolidated financial statements and expects to complete the assessment during fiscal year 2017. For vessels operating on voyage charters, we expect to continue recognizing revenue over time. The time period over which revenue will be recognized is still being determined and, depending on the final conclusion, each period’s voyage results could differ materially from the same period’s voyage results recognized based on the present revenue recognition guidance. However, the total voyage results recognized over all periods would not change. The adoption of the standard is not expected to have a material impact on other income, primarily income earned from the commercial management of related party and third party vessels and newbuilding supervision fees derived from related parties and third parties. In January 2016, the FASB issued ASU 2016-01 "Recognition and Measurement of Financial Assets and Financial Liabilities" to enhance the reporting model for financial instruments to provide users of financial statements with more decision-useful information. ASU 2016-01 particularly relates to the fair value and impairment of equity investments, financial instruments measured at amortized cost, and the use of the exit price notion when measuring the fair value of financial instruments for disclosure purposes. ASU 2016-01 is effective for fiscal years and interim periods beginning after December 15, 2017. Early adoption is only permitted for certain particular amendments within ASU 2016-01, where financial statements have not yet been issued. ASU 2016-01 will require the Company to recognize any changes in the fair value of certain equity investments in net income. These changes are currently recognized in other comprehensive income. In February 2016, the FASB issued ASU 2016-02 "Leases" to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 creates a new Accounting Standards Codification Topic 842 "Leases" to replace the previous Topic 840 "Leases." ASU 2016-02 affects both lessees and lessors, although for the latter the provisions are similar to the previous model, but updated to align with certain changes to the lessee model and also the new revenue recognition provisions contained in ASU 2014-09 (see above). ASU 2016-02 is effective for fiscal years and interim periods beginning after December 15, 2018. Early adoption is permitted. The Company is currently assessing the impact of ASU 2016-02 on its consolidated financial position, results of operations and cash flows. In June 2016, the FASB issued ASU 2016-13 "Financial Instruments - Credit Losses" to introduce new guidance for the accounting for credit losses on instruments within its scope. ASU 2016-13 requires among other things, the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 is effective for fiscal years and interim periods beginning after December 15, 2019. Early adoption is permitted. The Company is currently assessing the impact of ASU 2016-13 on its consolidated financial position, results of operations and cash flows. In August 2016, the FASB issued ASU 2016-15 "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments", to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. It addresses the following eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. The amendments are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years with early adoption permitted. The amendments should be applied using a retrospective transition method to each period presented. If it is impracticable to apply the amendments retrospectively for some of the issues, the amendments for those issues would be applied prospectively as of the earliest date practicable. The Company is currently assessing the impact of ASU 2016-15 on its statement of consolidated cash flows. In November 2016, the FASB issued ASU 2016-18 "Statement of Cash Flows (Topic 230): Restricted Cash", to address diversity in practice that exists in the classification and presentation of changes in restricted cash and require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The standard will be effective for fiscal years beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted. The impact on the consolidated financial statements of the Company will depend on the facts and circumstances of any specific future transactions. In January 2017, the FASB issued ASU 2017-01 "Business Combinations (Topic 805) -Clarifying the Definition of a Business" which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is required to be applied prospectively and will be effective for the Company beginning January 1, 2018. The impact on the consolidated financial statements of the Company will depend on the facts and circumstances of any specific future transactions. In March 2017, the FASB issued ASU 2017-08 "Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities" to amend the amortization period for certain purchased callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. ASU 2017-08 is effective for fiscal years and interim periods beginning after December 15, 2018. Early adoption is permitted. The impact on the consolidated financial statements of the Company will depend on the facts and circumstances of any specific future transactions. In May 2017, the FASB issued ASU 2017-09 "Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting" to clarify and reduce both diversity in practice and cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation, to a change to the terms or conditions of a share-based payment award. The amendments provide guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting. ASU 2017-09 is effective for fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted. The impact on the consolidated financial statements of the Company will depend on the facts and circumstances of any specific future transactions. In August 2017, the FASB issued ASU 2017-12 "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" to enable entities to better portray the economics of their risk management activities in the financial statements and enhance the transparency and understandability of hedge results. The amendments also simplify the application of hedge accounting in certain situations. ASU 2017-12 is effective for fiscal years and interim periods beginning after December 15, 2018. Early adoption is permitted. The Company is in the process of evaluating the impact of this standard update on its Consolidated Financial Statements and related disclosures. Recently Adopted Accounting Standards In March 2016, the FASB issued ASU 2016-07 "Investments - Equity Method and Joint Ventures" to simplify the transition to the equity method of accounting. ASU 2016-07 eliminates the requirement that when an investment qualifies for the use of the equity method as a result of an increase in the level of ownership, the investor must adjust the investment, results of operations and retained earnings retrospectively as if the equity method had been in effect during all previous periods in which the investment had been held. ASU 2016-07 was effective for fiscal years and interim periods beginning after December 15, 2016. The adoption of this standard did not have a material impact on the consolidated financial statements of the Company for the six months ended June 30, 2017 . In March 2016, the FASB issued ASU 2016-09 "Compensation - Stock Compensation" to introduce improvements to employee share-based payment accounting. ASU 2016-09 simplifies several aspects of the accounting for share-based payment award transactions, including the income tax consequences, the classification of awards as either equity or liabilities and the classification on the statement of cash flows. ASU 2016-09 was effective for fiscal years and interim periods beginning after December 15, 2016. The adoption of this standard did not have a material impact on the consolidated financial statements of the Company for the six months ended June 30, 2017 .

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2017
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 Year ended (in thousands of $) June 30, 2017 June 30, 2016 December 31, 2016 Basic: Net income available to stockholders 52,393 85,611 146,406 Diluted: Net income available to stockholders 52,393 85,611 146,406 Interest and other expenses attributable to convertible bonds 4,571 9,151 15,310 Net income assuming dilution 56,964 94,762 161,716 The components of the denominator for the calculation of basic and diluted EPS are as follows: Six months ended Year ended (in thousands) June 30, 2017 June 30, 2016 December 31, 2016 Basic earnings per share: Weighted average number of common shares outstanding 93,505 93,489 93,497 Diluted earnings per share: Weighted average number of common shares outstanding 93,505 93,489 93,497 Effect of dilutive share options 15 — — Effect of dilutive convertible debt 12,410 27,935 14,543 Weighted average number of common shares outstanding assuming dilution 105,930 121,424 108,040

OTHER FINANCIAL ITEMS, NET (Tab

OTHER FINANCIAL ITEMS, NET (Tables)	6 Months Ended
	Jun. 30, 2017
Other Financial Items [Abstract]
Schedule of other financial items	Other financial items comprise the following items: Six months ended Year ended (in thousands of $) June 30, 2017 June 30, 2016 December 31, 2016 Fair value gain/(loss) of designated derivatives (ineffective portion) 138 (840 ) 482 Fair value gain/(loss) on non-designated derivatives, net (4,297 ) (9,568 ) 3,917 Net cash payments on non-designated derivatives (2,779 ) (2,641 ) (4,913 ) Other items (1,752 ) (669 ) (1,575 ) Other financial items, net (8,690 ) (13,718 ) (2,089 )

AVAILABLE FOR SALE SECURITIES (

AVAILABLE FOR SALE SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Available-for-sale debt securities	Marketable securities held by the Company are debt securities and share investments considered to be available-for-sale securities. (in thousands of $) June 30, 2017 December 31, 2016 Amortized cost 198,568 197,449 Accumulated net unrealized (loss)/gain (87,766 ) (78,960 ) Available-for-sale securities 110,802 118,489

VESSELS AND EQUIPMENT, NET (Tab

VESSELS AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Vessels and equipment	(in thousands of $) June 30, 2017 December 31, 2016 Cost 2,140,898 2,154,994 Accumulated depreciation (449,368 ) (417,825 ) Vessels and equipment, net 1,691,530 1,737,169

INVESTMENTS IN DIRECT FINANCI31

INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES (Tables)	6 Months Ended
	Jun. 30, 2017
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 and sales-type leases as at June 30, 2017 and December 31, 2016 : (in thousands of $) June 30, 2017 December 31, 2016 Total minimum lease payments to be received 979,992 862,083 Less : amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (237,278 ) (287,168 ) Net minimum lease payments receivable 742,714 574,915 Estimated residual values of leased property (un-guaranteed) 243,974 213,901 Less : unearned income (341,215 ) (232,781 ) Total investment in direct financing and sales-type leases 645,473 556,035 Current portion 33,083 32,220 Long-term portion 612,390 523,815 Total investment in direct financing and sales-type leases 645,473 556,035

INVESTMENT IN ASSOCIATED COMP32

INVESTMENT IN ASSOCIATED COMPANIES (Tables)	6 Months Ended
	Jun. 30, 2017
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Percentage participation using the equity method of accounting	At June 30, 2017 , June 30, 2016 and December 31, 2016 , the Company had the following participation in investments that are recorded using the equity method: June 30, 2017 June 30, 2016 December 31, 2016 SFL Deepwater Ltd (“SFL Deepwater”) 100 % 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 wholly-owned equity method investees is as follows: As of June 30, 2017 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Current assets 126,227 34,296 39,690 52,241 Non-current assets 1,035,580 320,093 308,941 406,546 Total assets 1,161,807 354,389 348,631 458,787 Current liabilities 112,524 28,020 32,373 52,131 Non-current liabilities 1,049,192 326,333 316,248 406,611 Total liabilities 1,161,716 354,353 348,621 458,742 Total stockholders’ equity 91 36 10 45 As of December 31, 2016 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Current assets 122,675 33,763 38,351 50,561 Non-current assets 1,094,442 335,229 326,562 432,651 Total assets 1,217,117 368,992 364,913 483,212 Current liabilities 107,026 25,512 29,280 52,234 Non-current liabilities 1,109,961 343,426 335,603 430,932 Total liabilities 1,216,987 368,938 364,883 483,166 Total stockholders’ equity 130 54 30 46 Summarized statement of operations information of the Company’s wholly-owned equity method investees is as follows: Six months ended June 30, 2017 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 38,987 10,879 11,614 16,494 Net operating revenues 38,987 10,879 11,614 16,494 Net income 13,855 3,382 3,730 6,743 Six months ended June 30, 2016 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 40,565 11,112 11,738 17,715 Net operating revenues 40,565 11,112 11,738 17,715 Net income 14,322 3,520 3,350 7,452 Year ended December 31, 2016 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 80,269 22,088 23,292 34,889 Net operating revenues 80,269 22,088 23,292 34,889 Net income 27,765 6,778 6,424 14,563

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2017
Long-term Debt, by Current and Noncurrent [Abstract]
Schedule of short-term and long-term debt	(in thousands of $) June 30, 2017 December 31, 2016 Long-term debt: NOK600 million senior unsecured floating rate bonds due 2017 17,482 65,445 3.25% senior unsecured convertible bonds due 2018 184,202 184,202 NOK900 million senior unsecured floating rate bonds due 2019 90,764 87,801 5.75% senior unsecured convertible bonds due 2021 225,000 225,000 NOK500 million senior unsecured floating rate bonds due 2020 59,871 — U.S. dollar denominated floating rate debt (LIBOR plus margin) due through 2023 1,117,284 1,017,558 Total debt principal 1,694,603 1,580,006 Less: Unamortized debt issuance costs (23,011 ) (27,132 ) Less: Current portion of long-term debt (487,859 ) (174,900 ) Total long-term debt 1,183,733 1,377,974
Schedule of maturities of debt	The outstanding debt as of June 30, 2017 is repayable as follows: (in thousands of $) Year ending December 31, 2017 (remaining six months) 87,727 2018 463,783 2019 267,444 2020 231,931 2021 457,412 Thereafter 186,306 Total debt principal 1,694,603

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
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, 2017 December 31, 2016 Designated derivative instruments - short-term assets: Interest rate swaps 79 110 Total derivative instruments - short-term assets 79 110 Designated derivative instruments - long-term assets: Interest rate swaps 3,809 4,540 Non-designated derivative instruments - long-term assets: Interest rate swaps 843 1,502 Total derivative instruments - long-term assets 4,652 6,042 (in thousands of $) June 30, 2017 December 31, 2016 Designated derivative instruments -short-term liabilities: Interest rate swaps — — Cross currency interest rate swaps 13,396 37,101 Non-designated derivative instruments -short-term liabilities: Interest rate swaps 238 — Cross currency interest rate swaps 25,732 2,208 Total derivative instruments - short-term liabilities 39,366 39,309 Designated derivative instruments - long-term liabilities: Interest rate swaps 9,115 10,134 Cross currency interest rate swaps 37,605 41,716 Non-designated derivative instruments - long-term liabilities: Interest rate swaps 1,544 1,388 Cross currency interest rate swaps 7,445 8,218 Total derivative instruments - long-term liabilities 55,709 61,456
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. Notional Principal (in thousands of $) Inception date Maturity date Fixed interest rate $27,155 (reducing to $24,794) March 2008 August 2018 4.05% - 4.15% $28,279 (reducing to $23,394) April 2011 December 2018 2.13% - 2.80% $41,929 (reducing to $34,044) May 2011 January 2019 0.80% - 2.58% $100,000 (remaining at $100,000) August 2011 August 2021 2.50% - 2.93% $139,533 (reducing to $79,733) May 2012 August 2022 1.76% - 1.85% $105,436 (equivalent to NOK600 million) October 2012 October 2017 5.92% - 6.23% * $33,250 (reducing to $32,142) February 2013 December 2017 0.81% - 0.82% $100,000 (remaining at $100,000) March 2013 April 2023 1.85% - 1.97% $151,008 (equivalent to NOK900 million) March 2014 March 2019 6.03% * $105,188 (reducing to $70,125) December 2016 December 2021 1.86% - 3.33% $108,375 (reducing to $70,125) January 2017 January 2022 1.56% - 3.09% $30,333 (reducing to $19,413) September 2015 March 2022 1.67% $193,594 (reducing to $149,844) February 2016 February 2021 1.07% - 1.26%
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 NOK 600 million senior unsecured bonds due 2017 and the NOK 900 million senior unsecured bonds due 2019. Principal Receivable Principal Payable Inception date Maturity date NOK600 million $ 105.4 million October 2012 October 2017 NOK900 million $ 151.0 million March 2014 March 2019
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, 2017 and December 31, 2016 are as follows: June 30, 2017 June 30, 2017 December 31, 2016 December 31, 2016 (in thousands of $) Carrying value Fair value Carrying value Fair value Non-derivatives: Available-for-sale securities 110,802 110,802 118,489 118,489 Floating rate NOK bonds due 2017 17,482 17,701 65,445 65,955 Floating rate NOK bonds due 2019 90,764 90,310 87,801 86,026 Floating rate NOK bonds due 2020 59,871 59,871 — — 3.25% unsecured convertible bonds due 2018 184,202 192,924 184,202 201,206 5.75% unsecured convertible bonds due 2021 225,000 217,717 225,000 224,366 Derivatives: Interest rate/ currency swap contracts - short-term receivables 79 79 110 110 Interest rate/ currency swap contracts - long-term receivables 4,652 4,652 6,042 6,042 Interest rate/ currency swap contracts - short-term payables 39,366 39,366 39,309 39,309 Interest rate/ currency swap contracts - long-term payables 55,709 55,709 61,456 61,456
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, 2017 , were measured as follows: Fair value measurements using, (in thousands of $) June 30, 2017 Quoted Prices in Active Markets for identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Available-for-sale securities 110,802 110,802 — Interest rate/ currency swap contracts – short-term receivables 79 79 Interest rate/ currency swap contracts - long-term receivables 4,652 4,652 Total assets 115,533 110,802 4,731 — Liabilities: Floating rate NOK bonds due 2017 17,701 17,701 Floating rate NOK bonds due 2019 90,310 90,310 Floating rate NOK bonds due 2020 59,871 59,871 3.25% unsecured convertible bonds due 2018 192,924 192,924 5.75% unsecured convertible bonds due 2021 217,717 217,717 Interest rate/ currency swap contracts – short-term payables 39,366 39,366 Interest rate/ currency swap contracts – long-term payables 55,709 55,709 Total liabilities 673,598 578,523 95,075 —

SHARE CAPITAL, ADDITIONAL PAI35

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Tables)	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Schedule of Share Capital	Authorized share capital is as follows: (in thousands of $, except share data) June 30, 2017 December 31, 2016 150,000,000 common shares of $0.01 par value each (December 31, 2016: 150,000,000 shares of $0.01 par value each) 1,500 1,500 Issued and fully paid share capital is as follows: (in thousands of $, except share data) June 30, 2017 December 31, 2016 101,504,575 common shares of $0.01 par value each (December 31, 2016: 101,504,575 shares of $0.01 par value each) 1,015 1,015

OTHER LONG-TERM LIABILITIES (Ta

OTHER LONG-TERM LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2017
Other Liabilities Disclosure [Abstract]
Schedule of Other Long Term Liabilities	(in thousands of $) June 30, 2017 December 31, 2016 Unamortized sellers' credit 5,046 6,124 Obligations under capital leases - long-term portion 234,573 118,754 Other items 6 4 239,625 124,882
Schedule of Future Minimum Lease Payments for Capital Leases	The Company's future minimum lease obligations under the non-cancellable lease are as follows: (in thousands of $) Year ending December 31, 2017 (remaining six months) 12,630 2018 25,054 2019 25,054 2020 25,122 2021 25,054 Thereafter 306,903 Total lease obligations 419,817 Less: imputed interest payable (177,729 ) Present value of obligations under capital lease 242,088 Less: current portion (7,515 ) Obligations under capital lease - long-term portion 234,573

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2017
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 (see Note 8: Investment in Direct Financing and Sales-Type Leases). (in thousands of $) June 30, 2017 December 31, 2016 Amounts due from: Frontline Shipping — 11,906 Frontline 5,183 3,008 Deep Sea 1,843 1,945 SFL Deepwater 2,594 — SFL Hercules 3,078 — SFL Linus 4,235 660 Total amount due from related parties 16,933 17,519 Loans to related parties - associated companies, long-term SFL Deepwater 113,000 119,167 SFL Hercules 80,000 85,920 SFL Linus 121,000 125,000 Total loans to related parties - associated companies, long-term 314,000 330,087 Long-term receivables from related parties Deep Sea 8,171 9,268 Total long-term receivables from related parties 8,171 9,268 Amounts due to: Frontline Shipping 1,968 229 Frontline 848 493 Golden Ocean 369 — Deep Sea 200 — Seatankers 45 79 Other related parties 49 49 Total amount due to related parties 3,479 850
Summary of leasing revenues earned from related parties	A summary of leasing revenues and repayments from the Frontline Shipping, Golden Ocean, UFC and Deep Sea is as follows: Six months ended Year ended (in thousands of $) June 30, 2017 June 30, 2016 December 31, 2016 Operating lease income 29,540 34,943 65,340 Direct financing lease interest income 9,385 12,208 22,850 Finance lease service revenue 19,827 22,932 44,523 Direct financing lease repayments 14,064 16,309 30,321 Profit share and cash sweep income 5,591 38,937 51,470 In addition to leasing revenues and repayments, the Company incurred the following fees with related parties: Six months ended Year ended (in thousands of $) June 30, 2017 June 30, 2016 December 31, 2016 Frontline: Vessel Management Fees 20,506 23,629 45,931 Commissions and Brokerage 112 204 390 Administration Services Fees 172 180 576 Golden Ocean: Vessel Management Fees 10,136 10,192 20,496 Operating Management Fees 370 404 795 Seatankers: Administration Services Fees 22 157 315 Office Facilities: Seatankers Management Norway AS 80 155 317 Frontline Corporate Services Ltd 131 238 235

COMMITMENTS AND CONTINGENT LI38

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of assets pledged	Assets Pledged (in millions of $) June 30, 2017 December 31, 2016 Book value of consolidated assets pledged under ship mortgages $1,914 $2,009

GAIN ON SALE OF ASSETS AND TE39

GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended					6 Months Ended		12 Months Ended
	Jun. 30, 2017	May 31, 2017	Apr. 30, 2017	Mar. 31, 2017	Oct. 31, 2015	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Other Income and Expenses [Abstract]
Gain (Loss) On Disposition of Assets and Termination of Charters	$ (1,100)	$ (1,700)	$ 700	$ (26)		$ 779	$ 14	$ (167)
Term of lease or charter					15 years	5 years
Notes Compensation Received on Termination of Charters, Face Value			6,000
Compensation Received on Termination of Charters, Notes Receivable			$ 2,800

EARNINGS PER SHARE (Components

EARNINGS PER SHARE (Components of EPS) (Details) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Earnings Per Share [Abstract]
Net income available to stockholders	$ 52,393	$ 85,611	$ 146,406
Interest on Convertible Debt, Net of Tax	4,571	9,151	15,310
Net Income (Loss) Available to Common Stockholders, Diluted	$ 56,964	$ 94,762	$ 161,716
Weighted Average Number of Shares Outstanding, Basic	93,505	93,489	93,497
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	15	0	0
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	12,410	27,935	14,543
Weighted Average Number of Shares Outstanding, Diluted	105,930	121,424	108,040

EARNINGS PER SHARE (Narrative)

EARNINGS PER SHARE (Narrative) (Details) - shares	1 Months Ended
	Oct. 31, 2016	Jun. 30, 2017	Oct. 05, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issued and loaned to affiliate	8,000,000
Senior Unsecured Convertible Bonds due 2021 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.75%	5.75%

OTHER FINANCIAL ITEMS, NET (Sum

OTHER FINANCIAL ITEMS, NET (Summary of Other Financial Items) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Other Financial Items [Abstract]
Fair value gain/(loss) of designated derivatives (ineffective portion)	$ 138	$ (840)	$ 482
Fair value gain/(loss) on non-designated derivatives, net	(4,297)	(9,568)	3,917
Net cash payments on non-designated derivatives	(2,779)	(2,641)	(4,913)
Other items	(1,752)	(669)	(1,575)
Other financial items, net	$ (8,690)	$ (13,718)	$ (2,089)

OTHER FINANCIAL ITEMS, NET (Na

OTHER FINANCIAL ITEMS, NET (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Other Financial Items- Text Details [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0.7	$ 0	$ 0

AVAILABLE FOR SALE SECURITIES44

AVAILABLE FOR SALE SECURITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Amortized cost	$ 198,568	$ 197,449
Accumulated net unrealized (loss)/gain	(87,766)	(78,960)
Available-for-sale Securities	110,802	118,489
Corporate Bond Securities [Member]
Available-for-sale Securities	45,100	38,900
Common stock - Frontline Ltd [Member]
Available-for-sale Securities	63,000	78,200
Common stock - NorAm Drilling [Member]
Available-for-sale Securities	2,000	1,400
Common Stock, Golden Close [Member]
Available-for-sale Securities	$ 600	$ 0

VESSELS AND EQUIPMENT, NET (Sum

VESSELS AND EQUIPMENT, NET (Summary of Vessels and Equipment, Net) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Cost	$ 2,140,898	$ 2,154,994
Accumulated depreciation	(449,368)	(417,825)
Vessels and equipment, net	$ 1,691,530	$ 1,737,169

NEWBUILDINGS AND VESSEL PURCH46

NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)containershipcontract
NEWBUILDINGS [Abstract]
Number of newbuilding container vessels delivered | containership	0
Number of Newbuilding Contracts | contract	2
Total costs	$ 12.5
Capitalized interest	$ 0.9

INVESTMENTS IN DIRECT FINANCI47

INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES (Components of the Investments in Direct Financing and Sales-Type Leases) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Net Investment in Direct Financing and Sales Type Leases [Abstract]
Total minimum lease payments to be received	$ 979,992	$ 862,083
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	(237,278)	(287,168)
Net minimum lease payments receivable	742,714	574,915
Estimated residual values of leased property (un-guaranteed)	243,974	213,901
Less: unearned income	(341,215)	(232,781)
Total investment in direct financing and sales-type leases	645,473	556,035
Current portion	33,083	32,220
Long-term portion	$ 612,390	$ 523,815

INVESTMENTS IN DIRECT FINANCI48

INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES (Narrative) (Details) - vessel	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Net Investment in Direct Financing and Sales Type Leases [Abstract]
Number of VLCCs	9
Number of Suezmax crude oil carriers	1
Term of charters, minimum (in years)	3 years
Term of charters, maximum (in years)	10 years
Number of offshore supply vessels chartered on long-term bareboat charters	1
Related Party Transaction [Line Items]
Assets accounted for as direct financing leases and leased to related parties	14	14
Assets accounted for as direct financing leases	2
Assets accounted for as sales-type lease	1
Frontline Shipping And Deep Sea
Related Party Transaction [Line Items]
Assets accounted for as direct financing leases and leased to related parties	11

INVESTMENT IN ASSOCIATED COMP49

INVESTMENT IN ASSOCIATED COMPANIES (Details) $ in Thousands	1 Months Ended		6 Months Ended		12 Months Ended
	Oct. 31, 2013USD ($)	May 31, 2013	Jun. 30, 2017USD ($)vesselRate	Jun. 30, 2016USD ($)Rate	Dec. 31, 2016USD ($)Rate	May 31, 2014USD ($)
Summarized balance sheet information [Abstract]
Current assets			$ 126,227		$ 122,675
Non-current assets			1,035,580		1,094,442
Total assets			1,161,807		1,217,117
Current liabilities			112,524		107,026
Non-current liabilities			1,049,192		1,109,961
Total liabilities			1,161,716		1,216,987
Total shareholders' equity			91		130
Statement of operations information [Abstract]
Net operating revenues			38,987	$ 40,565	80,269
Net income			13,855	$ 14,322	$ 27,765
Term loan facility, amount outstanding			$ 1,694,603
SFL Deepwater [Member]
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in hundredths) | Rate			100.00%	100.00%	100.00%
Summarized balance sheet information [Abstract]
Current assets			$ 34,296		$ 33,763
Non-current assets			320,093		335,229
Total assets			354,389		368,992
Current liabilities			28,020		25,512
Non-current liabilities			326,333		343,426
Total liabilities			354,353		368,938
Total shareholders' equity			36		54
Statement of operations information [Abstract]
Operating revenues			10,879	$ 11,112	22,088
Net operating revenues			10,879	11,112	22,088
Net income			$ 3,382	3,520	6,778
Number of main assets subject of leases which includes both fixed price call options and fixed price purchase obligations | vessel			1
Principle debt amount	$ 390,000
Debt term	5 years
Term loan facility, amount outstanding			$ 237,100
Dividends			$ 3,400	$ 43,000	$ 46,300
SFL Hercules [Member]
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in hundredths) | Rate			100.00%	100.00%	100.00%
Summarized balance sheet information [Abstract]
Current assets			$ 39,690		$ 38,351
Non-current assets			308,941		326,562
Total assets			348,631		364,913
Current liabilities			32,373		29,280
Non-current liabilities			316,248		335,603
Total liabilities			348,621		364,883
Total shareholders' equity			10		30
Statement of operations information [Abstract]
Operating revenues			11,614	$ 11,738	23,292
Net operating revenues			11,614	11,738	23,292
Net income			$ 3,730	3,350	6,424
Number of main assets subject of leases which includes both fixed price call options and fixed price purchase obligations | vessel			1
Principle debt amount						$ 375,000
Debt term		6 years
Term loan facility, amount outstanding			$ 265,000
Dividends			$ 3,800	$ 22,000	$ 25,100
SFL Linus [Member]
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in hundredths) | Rate			100.00%	100.00%	100.00%
Summarized balance sheet information [Abstract]
Current assets			$ 52,241		$ 50,561
Non-current assets			406,546		432,651
Total assets			458,787		483,212
Current liabilities			52,131		52,234
Non-current liabilities			406,611		430,932
Total liabilities			458,742		483,166
Total shareholders' equity			45		46
Statement of operations information [Abstract]
Operating revenues			16,494	$ 17,715	34,889
Net operating revenues			16,494	17,715	34,889
Net income			6,743	7,452	14,563
Principle debt amount	$ 475,000
Debt term	5 years
Term loan facility, amount outstanding			332,500
Dividends			$ 7,300	32,000	42,100
SFL Hercules and SFL Taurus [Member]
Statement of operations information [Abstract]
Number of main assets subject of leases which includes both fixed price call options and fixed price purchase obligations | vessel			2
Customer Concentration Risk [Member]
Statement of operations information [Abstract]
Operating revenues			$ 38,987	$ 40,565	$ 80,269
Financial Guarantee [Member] | SFL Deepwater [Member]
Statement of operations information [Abstract]
Term loan facility, amount guaranteed			75,000
Financial Guarantee [Member] | SFL Hercules [Member]
Statement of operations information [Abstract]
Term loan facility, amount guaranteed			70,000
Financial Guarantee [Member] | SFL Linus [Member]
Statement of operations information [Abstract]
Term loan facility, amount guaranteed			$ 90,000

SHORT-TERM AND LONG-TERM DEBT50

SHORT-TERM AND LONG-TERM DEBT (Details)	1 Months Ended																			3 Months Ended	6 Months Ended			12 Months Ended
	Oct. 31, 2016USD ($)	Nov. 30, 2015USD ($)subsidiarycarrier	Jul. 31, 2015USD ($)subsidiarycarrier	Jun. 30, 2015vesselsubsidiary	Dec. 31, 2014vesselsubsidiary	Nov. 30, 2014USD ($)containershipsubsidiary	Sep. 30, 2014USD ($)subsidiary	Aug. 31, 2014USD ($)vesselsubsidiary	Jun. 30, 2014vesselsubsidiary	Mar. 31, 2014	Jan. 31, 2013USD ($)$ / sharesRate	Nov. 30, 2012USD ($)vesselsubsidiary	Oct. 31, 2012	May 31, 2011USD ($)vesselsubsidiary	Mar. 31, 2011USD ($)vesselsubsidiary	Nov. 30, 2010USD ($)vesselsubsidiary	Mar. 31, 2010USD ($)	Feb. 28, 2010USD ($)	Mar. 31, 2008USD ($)vesselsubsidiary	Mar. 31, 2014shares	Jun. 30, 2017NOKvesselRate	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)containership	Dec. 31, 2016NOKvesselcarrierRate	Dec. 31, 2016USD ($)	Dec. 31, 2013USD ($)	Jun. 30, 2017USD ($)vessel$ / sharesRate	Jun. 22, 2017NOK	Dec. 31, 2016USD ($)vesselcarrierRate	Nov. 30, 2016USD ($)	Oct. 05, 2016USD ($)$ / sharesRateshares	Feb. 29, 2016vessel	Mar. 19, 2014NOKRate	Oct. 19, 2012NOKRate
Debt Instrument [Line Items]
Long-term debt																											$ 1,694,603,000
Debt, Long-term and Short-term, Combined Amount																											1,694,603,000		$ 1,580,006,000
Deferred Finance Costs, Noncurrent, Net																											(23,011,000)		(27,132,000)
Less : current portion of long-term debt																											(487,859,000)		(174,900,000)
Total long-term debt, non-current portion																											1,183,733,000		$ 1,377,974,000
Long-term Debt, by Maturity [Abstract]
2,017																											87,727,000
2,018																											463,783,000
2,019																											267,444,000
2,020																											231,931,000
2,021																											457,412,000
Thereafter																											186,306,000
Long-term debt																											$ 1,694,603,000
Weighted average interest rate (in hundredths) | Rate																					4.56%			4.20%			4.56%		4.20%
Three month dollar LIBOR rate (in hundredths) | Rate																					1.29917%			0.9979%			1.29917%		0.9979%
Three month Norwegian kroner NIBOR rate (in hundredths) | Rate																					0.83%			1.17%			0.83%		1.17%
Equity component of convertible bond issuance, net																						$ 0	$ 0		$ (3,966,000)
Number of offshore supply vessels | vessel																					5						5
Assets accounted for as direct financing leases and leased to related parties | vessel																					14			14			14		14
Deep Sea [Member]
Long-term Debt, by Maturity [Abstract]
Number of offshore supply vessels | vessel					5
Assets accounted for as direct financing leases and leased to related parties | vessel																					1			1			1		1			1
US$ 49 million secured term loan and revolving credit facility [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount																			$ 49,000,000								$ 0		$ 0
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary																			2
Number of new vessels acquired that were partly funded by secured term loan facility | vessel																			2
Term of Loan																			10 years
Amount available to draw																											20,000,000
US$ 43 million secured term loan facility (February 2010) [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount																		$ 42,600,000									22,000,000		23,400,000
Term of Loan																		5 years
US$ 43 million secured term loan facility (March 2010) [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount																	$ 42,600,000										22,000,000		23,400,000
Term of Loan																	5 years
US$ 54 million secured term loan facility [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount																$ 53,700,000											28,300,000		30,200,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary																2
Number of new vessels acquired that were partly funded by secured term loan facility | vessel																2
Term of Loan																8 years
US$ 75 million secured term loan facility [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount															$ 75,400,000												41,900,000		44,900,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary															3
Number of new vessels acquired that were partly funded by secured term loan facility | vessel															3
Term of Loan															8 years
US$ 171 million secured term loan facility [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount														$ 171,000,000													104,000,000		110,100,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary														8
Number of new vessels acquired that were partly funded by secured term loan facility | vessel														7
Term of Loan														10 years
US Dollar 53.2 Million Secured Term Loan Facility [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount												$ 53,200,000															33,300,000		35,500,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary												2
Number of new vessels acquired that were partly funded by secured term loan facility | vessel												2
Term of Loan												5 years
US Dollar 45 million Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Long-term debt																											36,000,000		36,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											36,000,000		36,000,000
Principle debt amount																											45,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary									7
Number of new vessels acquired that were partly funded by secured term loan facility | vessel									7
Term of Loan									5 years
Book value of assets pledged under ship mortgages																											1,914,000,000		2,009,000,000
US dollar 250 million secured revolving credit facility [Member]
Debt Instrument [Line Items]
Long-term debt																											178,900,000		40,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											178,900,000		40,000,000
Principle debt amount																											250,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary				17
Number of new vessels acquired that were partly funded by secured term loan facility | vessel				17
Term of Loan				3 years
Amount available to draw																											0
NOK 600 million senior unsecured floating rate bonds due 2017 [Member]
Debt Instrument [Line Items]
Long-term debt																											17,482,000		65,445,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											17,482,000		65,445,000
Principle debt amount | NOK																					NOK 146,000,000			NOK 565,000,000										NOK 600,000,000
Notice of redemption (in days)													30 days
Redemption price of debt (in hundredths) | Rate																																		100.50%
Amount of debt repurchased | NOK																								454,000,000
NOK 600 Million Senior Unsecured Floating Rate Bonds Due 2017 (USD) [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount																											$ 17,500,000		65,400,000
US dollar 350 Million Senior Unsecured Convertible Bonds Due 2018 [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount											$ 350,000,000
Debt Instrument, Interest Rate, Stated Percentage | Rate											3.25%
Debt Instrument Convertible Bond Period											10 days
Conversion price (in dollars per share) | $ / shares											$ 21.945																$ 13.5535
Premium of conversion price to share price | Rate											33.00%
Common shares loaned to affiliate | shares																				6,060,606
Related party share loan fee											$ 1,000,000
Equity component of convertible bond issuance, net																										$ 20,700,000
Amortization of deferred charges																						600,000
Senior Unsecured Convertible Bonds Due 2018 [Member]
Debt Instrument [Line Items]
Long-term debt																											$ 184,202,000		184,202,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											184,202,000		184,202,000
Principal amounts purchased and canceled																						165,800,000
NOK 900 million senior unsecured floating rate bonds due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt																											90,764,000		87,801,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											90,764,000		87,801,000
Principle debt amount | NOK																					758,000,000			758,000,000									NOK 900,000,000
Notice of redemption (in days)										30 days
Redemption price of debt (in hundredths) | Rate																																	100.50%
Amount of debt repurchased | NOK																					NOK 142,000,000
NOK 900 million senior unsecured floating rate bonds due 2019 (USD) [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount																											90,800,000		87,800,000
Senior Unsecured Convertible Bonds due 2021 [Member]
Debt Instrument [Line Items]
Long-term debt																											225,000,000		225,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											$ 225,000,000		225,000,000
Principle debt amount																															$ 225,000,000
Debt Instrument, Interest Rate, Stated Percentage																					5.75%						5.75%				5.75%
Conversion price (in dollars per share) | $ / shares																											$ 16.7983				$ 17.7747
Related party share loan fee																														$ 80,000	$ 120,000
Equity component of convertible bond issuance, net	$ 4,600,000
Amortization of deferred charges																						$ 500,000
conversion rate of convertible debt | Rate																					5953.36%						5953.36%				5625.96%
Denomination of unsecured corporate bond																															$ 1,000
Minimum dividend per share before convertible debt rate is adjusted | $ / shares																															$ 0.225
Own-share Lending Arrangement, Shares, Outstanding | shares																															8,000,000
NOK500million senior unsecured floating rate bonds due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt																											$ 59,871,000		0
Long-term Debt, by Maturity [Abstract]
Long-term debt																											59,871,000		0
Principle debt amount | NOK																					NOK 500,000,000			NOK 0				NOK 500,000,000
NOK500million senior unsecured floating rate bonds due 2020 [USD EQUIVALENT] [Member]
Long-term Debt, by Maturity [Abstract]
Principle debt amount																											59,900,000		0
USD denominated floating rate debt (libor plus margin) due through 2026 [Member]
Debt Instrument [Line Items]
Long-term debt																											1,117,284,000		1,017,558,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											1,117,284,000		1,017,558,000
Floating Rate Debt [Member] | US Dollar 45 million Secured Term Loan Facility [Member]
Long-term Debt, by Maturity [Abstract]
Line of Credit Facility, Remaining Borrowing Capacity																											9,000,000
Floating Rate Debt [Member] | US dollar 101 million secured term loan facility [Member]
Debt Instrument [Line Items]
Long-term debt																											54,700,000		54,700,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											54,700,000		54,700,000
Principle debt amount								$ 101,400,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary								6
Number of offshore supply vessels | vessel								6
Debt term								5 years
Floating Rate Debt [Member] | US dollar 20 million secured term loan facility [Member]
Debt Instrument [Line Items]
Long-term debt																											20,000,000		20,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											20,000,000		20,000,000
Principle debt amount							$ 20,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary							2
Debt term							5 years
Number of container vessels | containership																							2
Floating Rate Debt [Member] | US dollar 128 million secured term loan facility (September 2014) [Member]
Debt Instrument [Line Items]
Long-term debt																											105,200,000		109,400,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											105,200,000		109,400,000
Principle debt amount							$ 127,500,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary							2
Debt term							7 years
Number of container vessels | containership																							2
Floating Rate Debt [Member] | US dollar 128 million secured term loan facility (November 2014) [Member]
Debt Instrument [Line Items]
Long-term debt																											108,400,000		112,600,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											108,400,000		112,600,000
Principle debt amount						$ 127,500,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary					2	2
Debt term					8 years	7 years
Number of container vessels | containership						2
Floating Rate Debt [Member] | US dollar 39 million secured term loan facility [Member]
Debt Instrument [Line Items]
Long-term debt																											30,300,000		31,500,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											$ 30,300,000		31,500,000
Principle debt amount																													$ 39,000,000
Number of drybulk carriers | carrier																								2					2
Floating Rate Debt [Member] | US dollar 250 million secured revolving credit facility [Member]
Long-term Debt, by Maturity [Abstract]
Number Of Vessels Sold | vessel																					7						7
Floating Rate Debt [Member] | US dollar 166 million secured term loan facility [Member]
Debt Instrument [Line Items]
Long-term debt																											$ 138,700,000		$ 145,600,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											138,700,000		145,600,000
Principle debt amount			$ 166,400,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary			8
Debt term			7 years
Number of vessels against which loan was secured | carrier			8
Floating Rate Debt [Member] | US dollar 210 million secured term loan facility (Maersk) [Member]
Debt Instrument [Line Items]
Long-term debt																											193,600,000		200,200,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																											$ 193,600,000		$ 200,200,000
Principle debt amount		$ 210,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary		3
Debt term		5 years
Number of vessels against which loan was secured | carrier		3

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017NOKRate	Jun. 30, 2017USD ($)Rate	Dec. 31, 2016NOK	Dec. 31, 2016USD ($)	Oct. 05, 2016USD ($)	Mar. 19, 2014NOK	Oct. 19, 2012NOK
Derivative, Fair value [Abstract]
Total derivative instruments - short-term assets		$ 79		$ 110
Total derivative instruments - long-term assets		4,652		6,042
Total derivative instruments - short-term liabilities		39,366		39,309
Total derivative instruments - long-term liabilities		55,709		61,456
Interest rate swaps [Abstract]
Notional principal		$ 1,200,000		1,000,000
NOK 600 million senior unsecured floating rate bonds due 2017 [Member]
Interest rate swaps [Abstract]
Principle debt amount | NOK	NOK 146,000,000		NOK 565,000,000				NOK 600,000,000
NOK 900 million senior unsecured floating rate bonds due 2019 [Member]
Interest rate swaps [Abstract]
Principle debt amount | NOK	NOK 758,000,000		NOK 758,000,000			NOK 900,000,000
Senior Unsecured Convertible Bonds due 2021 [Member]
Interest rate swaps [Abstract]
Principle debt amount					$ 225,000
Debt Instrument, Interest Rate, Stated Percentage	5.75%	5.75%			5.75%
Designated as Hedging Instrument [Member] | NOK 600 million senior unsecured floating rate bonds due 2017 [Member]
Interest rate swaps [Abstract]
Inception date	Oct. 19, 2012
Maturity date	Oct. 19, 2017
Notional principal		$ 105,400
Designated as Hedging Instrument [Member] | NOK 900 million senior unsecured floating rate bonds due 2019 [Member]
Interest rate swaps [Abstract]
Inception date	Mar. 5, 2014
Maturity date	Mar. 19, 2019
Notional principal		151,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative, Fair value [Abstract]
Total derivative instruments - short-term assets		79		110
Total derivative instruments - long-term assets		3,809		4,540
Total derivative instruments - short-term liabilities		0		0
Total derivative instruments - long-term liabilities		9,115		10,134
Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract [Member]
Derivative, Fair value [Abstract]
Total derivative instruments - short-term liabilities		13,396		37,101
Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Swap [Member]
Derivative, Fair value [Abstract]
Total derivative instruments - long-term liabilities		37,605		41,716
Designated as Hedging Instrument [Member] | Interest Rate Swap 3 [Member]
Interest rate swaps [Abstract]
Inception date	Mar. 31, 2008
Maturity date	Aug. 31, 2018
Notional principal		27,155
Notional principal, at maturity		24,794
Designated as Hedging Instrument [Member] | Interest Rate Swap 4 [Member]
Interest rate swaps [Abstract]
Inception date	Apr. 30, 2011
Maturity date	Dec. 31, 2018
Notional principal		28,279
Notional principal, at maturity		$ 23,394
Fixed Interest Rate | Rate	2.13%	2.13%
Designated as Hedging Instrument [Member] | Interest Rate Swap 5 [Member]
Interest rate swaps [Abstract]
Inception date	May 31, 2011
Maturity date	Jan. 31, 2019
Notional principal		$ 41,929
Notional principal, at maturity		$ 34,044
Fixed Interest Rate | Rate	0.80%	0.80%
Designated as Hedging Instrument [Member] | Interest Rate Swap 6 [Member]
Interest rate swaps [Abstract]
Inception date	Aug. 31, 2011
Maturity date	Aug. 31, 2021
Notional principal		$ 100,000
Notional principal, at maturity		$ 100,000
Fixed Interest Rate | Rate	2.50%	2.50%
Designated as Hedging Instrument [Member] | Interest Rate Swap 8 [Member]
Interest rate swaps [Abstract]
Inception date	May 31, 2012
Maturity date	Aug. 31, 2022
Notional principal		$ 139,533
Notional principal, at maturity		$ 79,733
Fixed Interest Rate | Rate	1.76%	1.76%
Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract Two [Member]
Interest rate swaps [Abstract]
Inception date	Oct. 31, 2012
Maturity date	Oct. 31, 2017
Notional principal		$ 105,436
Notional principal, at maturity		$ 600,000,000
Fixed Interest Rate | Rate	5.92%	5.92%
Designated as Hedging Instrument [Member] | Interest Rate Swap 10 [Member]
Interest rate swaps [Abstract]
Inception date	Feb. 28, 2013
Maturity date	Dec. 21, 2017
Notional principal		$ 33,250
Notional principal, at maturity		$ 32,142
Fixed Interest Rate | Rate	0.81%	0.81%
Designated as Hedging Instrument [Member] | Interest Rate Swap 11 [Member]
Interest rate swaps [Abstract]
Inception date	Mar. 4, 2013
Maturity date	Apr. 25, 2023
Notional principal		$ 100,000
Notional principal, at maturity		$ 100,000
Fixed Interest Rate | Rate	1.85%	1.85%
Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract 3 [Member]
Interest rate swaps [Abstract]
Inception date	Mar. 5, 2014
Maturity date	Mar. 19, 2019
Notional principal		$ 151,008
Notional principal, at maturity		$ 900,000
Fixed Interest Rate | Rate	6.03%	6.03%
Designated as Hedging Instrument [Member] | Interest Rate Swap 14 [Member]
Interest rate swaps [Abstract]
Inception date	Dec. 28, 2016
Maturity date	Dec. 29, 2021
Notional principal		$ 105,188
Notional principal, at maturity		$ 70,125
Fixed Interest Rate | Rate	1.86%	1.86%
Designated as Hedging Instrument [Member] | Interest Rate Swap 15 [Member]
Interest rate swaps [Abstract]
Inception date	Jan. 6, 2017
Maturity date	Jan. 6, 2022
Notional principal		$ 108,375
Notional principal, at maturity		$ 70,125
Fixed Interest Rate | Rate	1.56%	1.56%
Designated as Hedging Instrument [Member] | Interest Rate Swap 16 [Member]
Interest rate swaps [Abstract]
Inception date	Sep. 21, 2015
Maturity date	Mar. 19, 2022
Notional principal		$ 30,333
Notional principal, at maturity		$ 19,413
Fixed Interest Rate | Rate	1.67%	1.67%
Designated as Hedging Instrument [Member] | Interest Rate Swap 17 [Member]
Interest rate swaps [Abstract]
Inception date	Feb. 23, 2016
Maturity date	Feb. 4, 2021
Notional principal		$ 193,594
Notional principal, at maturity		149,844
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative, Fair value [Abstract]
Total derivative instruments - long-term assets		843		1,502
Total derivative instruments - short-term liabilities		238		0
Total derivative instruments - long-term liabilities		1,544		1,388
Not Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract [Member]
Derivative, Fair value [Abstract]
Total derivative instruments - short-term liabilities		25,732		2,208
Not Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Swap [Member]
Derivative, Fair value [Abstract]
Total derivative instruments - long-term liabilities		$ 7,445		$ 8,218
Minimum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 3 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	4.05%	4.05%
Minimum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 17 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	1.0725%	1.0725%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 3 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	4.15%	4.15%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 4 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	2.80%	2.80%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 5 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	2.58%	2.58%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 6 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	2.93%	2.93%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 8 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	1.85%	1.85%
Maximum [Member] | Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract Two [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	6.23%	6.23%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 10 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	0.82%	0.82%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 11 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	1.97%	1.97%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 14 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	3.33%	3.33%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 15 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	3.09%	3.09%
Maximum [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap 17 [Member]
Interest rate swaps [Abstract]
Fixed Interest Rate | Rate	1.2625%	1.2625%
Senior Unsecured Convertible Bonds Due 2018 [Member]
Interest rate swaps [Abstract]
Debt Instrument, Interest Rate, Stated Percentage | Rate	3.25%	3.25%

FINANCIAL INSTRUMENTS (Fair Val

FINANCIAL INSTRUMENTS (Fair Value and Carrying Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Non-derivatives:
Available-for-sale Securities	$ 110,802	$ 118,489
Not Designated as Hedging Instrument [Member]
Derivatives:
Swap Contracts, Short Term Payables, Fair Value Disclosure	26,000	2,200
Long term receivables, non-designated swap contracts	800	1,500
Long term payables, non-designated swap contracts	9,000	9,600
Carrying Value [Member]
Non-derivatives:
Available-for-sale Securities	110,802	118,489
Floating rate NOK bonds due 2017	17,482	65,445
Floating rate NOK bonds due 2019	90,764	87,801
Derivatives:
Swap contracts short term receivables fair value disclosure	79	110
Interest rate/ currency swap contracts – long-term receivables	4,652	6,042
Swap Contracts, Short Term Payables, Fair Value Disclosure	39,366	39,309
Interest rate/ currency swap contracts – long-term payables	55,709	61,456
Carrying Value [Member] | NOK500million senior unsecured floating rate bonds due 2020 [Member]
Non-derivatives:
Floating Rate NOK Bonds due 2020	59,871	0
Carrying Value [Member] | Senior Unsecured Convertible Bonds Due 2018 [Member]
Non-derivatives:
Unsecured convertible bonds	184,202	184,202
Carrying Value [Member] | Senior Unsecured Convertible Bonds due 2021 [Member]
Non-derivatives:
Unsecured convertible bonds	225,000	225,000
Fair Value [Member]
Non-derivatives:
Available-for-sale Securities	110,802	118,489
Floating rate NOK bonds due 2017	17,701	65,955
Floating rate NOK bonds due 2019	90,310	86,026
Derivatives:
Swap contracts short term receivables fair value disclosure	79	110
Interest rate/ currency swap contracts – long-term receivables	4,652	6,042
Swap Contracts, Short Term Payables, Fair Value Disclosure	39,366	39,309
Interest rate/ currency swap contracts – long-term payables	55,709	61,456
Fair Value [Member] | NOK500million senior unsecured floating rate bonds due 2020 [Member]
Non-derivatives:
Floating Rate NOK Bonds due 2020	59,871	0
Fair Value [Member] | Senior Unsecured Convertible Bonds Due 2018 [Member]
Non-derivatives:
Unsecured convertible bonds	192,924	201,206
Fair Value [Member] | Senior Unsecured Convertible Bonds due 2021 [Member]
Non-derivatives:
Unsecured convertible bonds	$ 217,717	$ 224,366

FINANCIAL INSTRUMENTS (Fair V53

FINANCIAL INSTRUMENTS (Fair Value Hierarchy) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets:
Available-for-sale Securities	$ 110,802	$ 118,489
Recurring Basis [Member]
Assets:
Available-for-sale Securities	110,802
Interest rate/ currency swap contracts – short-term receivables	79
Interest rate/currency swap contracts - long term receivables	4,652
Total assets	115,533
Liabilities:
Floating rate NOK bonds due 2017	17,701
Floating rate NOK bonds due 2019	90,310
Floating Rate NOK Bonds due 2020	59,871
Interest rate/ currency swap contracts – short-term payables	39,366
Interest rate/ currency swap contracts – long-term payables	55,709
Total liabilities	673,598
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets:
Available-for-sale Securities	110,802
Total assets	110,802
Liabilities:
Floating rate NOK bonds due 2017	17,701
Floating rate NOK bonds due 2019	90,310
Floating Rate NOK Bonds due 2020	59,871
Total liabilities	578,523
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Interest rate/ currency swap contracts – short-term receivables	79
Interest rate/currency swap contracts - long term receivables	4,652
Total assets	4,731
Liabilities:
Interest rate/ currency swap contracts – short-term payables	39,366
Interest rate/ currency swap contracts – long-term payables	55,709
Total liabilities	95,075
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Available-for-sale Securities	0
Total assets	0
Liabilities:
Total liabilities	0
Senior Unsecured Convertible Bonds Due 2018 [Member] | Recurring Basis [Member]
Liabilities:
Unsecured convertible bonds	192,924
Senior Unsecured Convertible Bonds Due 2018 [Member] | Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Liabilities:
Unsecured convertible bonds	192,924
Senior Unsecured Convertible Bonds due 2021 [Member] | Recurring Basis [Member]
Liabilities:
Unsecured convertible bonds	217,717
Senior Unsecured Convertible Bonds due 2021 [Member] | Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Liabilities:
Unsecured convertible bonds	$ 217,717

FINANCIAL INSTRUMENTS (Concentr

FINANCIAL INSTRUMENTS (Concentration Risk) (Details) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Sep. 30, 2017	Jun. 30, 2017USD ($)Rate	Jun. 30, 2016Rate	Dec. 31, 2016USD ($)Rate	Sep. 12, 2017subsidiaryRate
Financial Instruments, Concentration of Risk
Loans to related parties - associated companies, long-term | $		$ 314,000		$ 330,087
Seadrill [Member]
Financial Instruments, Concentration of Risk
Loans to related parties - associated companies, long-term | $		314,000		330,700
Financial Guarantee [Member]
Financial Instruments, Concentration of Risk
Guarantee on loan facility | $		$ 235,000		$ 240,000
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Financial Instruments, Concentration of Risk
Concentration risk, percentage		18.15%	33.00%	28.00%
Net Income [Member] | Customer Concentration Risk [Member]
Financial Instruments, Concentration of Risk
Concentration risk, percentage		42.09532%	27.63664%	31.72001%
Seadrill [Member] | Subsequent Event [Member]
Financial Instruments, Concentration of Risk
Proportion of secured bank lenders in restructuring agreement with Seadrill Limited					97.00%
Proportion of bondholders in restructuring agreement with Seadrill Limited					40.00%
Number of wholly-owned subsidiaries that own drilling units accounted for using the equity method | subsidiary					3
Agreed Proportion of temporary reduction to daily charter rate					30.00%
Agreed Temporary Reduction in Daily Time Charter Rates, Period	5 years
Agreed Period of Charter Extension following Amendments	13 months
Number of drilling rigs owned by wholly-owned subsidiaries account for using the equity method | subsidiary					3
Agreed period of extension to bank loan term	4 years

SHARE CAPITAL, ADDITIONAL PAI55

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Summary of Share Capital) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Share capital, shares authorized (in shares)	150,000,000	150,000,000
Share capital, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, value authorized	$ 1,500	$ 1,500
Share capital, shares issued (in shares)	101,504,575	101,504,575
Common Stock, Value, Issued	$ 1,015	$ 1,015

SHARE CAPITAL, ADDITIONAL PAI56

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Ship Finance International Limited Share Option Scheme [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Adjustments to Additional Paid in Capital, Share-based Compensation, Stock Options, Requisite Service Period Recognition	$ 0.2

SHARE OPTION PLAN (Narrative) (

SHARE OPTION PLAN (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised	0
Unrecognized compensation costs related to non-vested options granted	$ 0.3	$ 0.5

OTHER LONG-TERM LIABILITIES (De

OTHER LONG-TERM LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Unamortized Sellers Credits	$ 5,046	$ 6,124
Obligations under capital leases - long-term portion	234,573	118,754
Other items	6	4
Other long-term liabilities	239,625	$ 124,882
2,017	12,630
2,018	25,054
2,019	25,054
2,020	25,122
2,021	25,054
Thereafter	306,903
Total lease obligations	419,817
Less: imputed interest payable	(177,729)
Present value of obligations under capital lease	242,088
Less: current portion	$ (7,515)

OTHER LONG-TERM LIABILITIES (Na

OTHER LONG-TERM LIABILITIES (Narrative) (Details) - vessel	1 Months Ended	6 Months Ended
	Oct. 31, 2015	Jun. 30, 2017	Dec. 31, 2013
Other Long-term Liabilities [Line Items]
Number of offshore supply vessels		5
Term of lease or charter	15 years	5 years
Deep Sea Supply BTG [Member]
Other Long-term Liabilities [Line Items]
Number of offshore supply vessels			5

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) shares in Millions	1 Months Ended						3 Months Ended	6 Months Ended		12 Months Ended	24 Months Ended
	Jun. 30, 2017USD ($)vesselRate	May 31, 2017USD ($)	Apr. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Jul. 31, 2015USD ($)$ / dRate	Jun. 30, 2015shares	Mar. 31, 2015USD ($)	Jun. 30, 2017USD ($)vesselRateshares	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)vessel	Dec. 31, 2014vesselRate	Feb. 29, 2016vessel	Nov. 30, 2015Rate	Jun. 05, 2015Rate
Amounts due from and to related parties [Abstract]
Due from related parties	$ 16,933,000							$ 16,933,000		$ 17,519,000
Loans to related parties - associated companies, long-term	314,000,000							314,000,000		330,087,000
Loans to related parties - others, long-term	8,171,000							8,171,000		9,268,000
Due to related parties	$ 3,479,000							$ 3,479,000		$ 850,000
Related party leasing and service contracts [Abstract]
Number of vessels leased to related parties classified as direct financing leases | vessel	14							14		14
Assets held for sale	$ 0							$ 0		$ 24,097,000
Gain (Loss) On Disposition of Assets and Termination of Charters	$ (1,100,000)	$ (1,700,000)	$ 700,000	$ (26,000)				779,000	$ 14,000	(167,000)
Proceeds from sale of vessels and termination of charters								62,762,000	4,932,000	29,102,000
Compensation Received on Termination of Charters, Notes Receivable			$ 2,800,000
Asset Impairment Charge								$ 0	0	5,314,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares						55
Investment in Shares, Ownership Percentage | Rate	20.00%							20.00%
Profit sharing revenues								$ 5,591,000	38,937,000	51,470,000
Number of offshore supply vessels | vessel	5							5
Leasing revenues earned from related parties [Abstract]
Direct financing lease interest income								$ 9,385,000	12,208,000	22,850,000
Finance lease service revenue								19,827,000	22,932,000	44,523,000
Management fees paid, vessels								31,013,000	34,224,000	67,221,000
Administrative expenses - related parties								405,000	730,000	1,443,000
Related party loans [Abstract]
Available-for-sale Securities	$ 110,802,000							110,802,000		118,489,000
Restricted cash	9,000,000							9,000,000		0
Sale of oil tanker- Front Century [Member]
Related party leasing and service contracts [Abstract]
Proceeds from sale of vessels and termination of charters				20,500,000
Compensation Received on Termination of Charters, Notes Receivable				$ 4,100,000
Asset Impairment Charge										500,000
Sale of oil tanker- Front Brabant [Member]
Related party leasing and service contracts [Abstract]
Compensation Received on Termination of Charters, Notes Receivable		$ 3,600,000
Sale of oil tanker- Front Scilla [Member]
Related party leasing and service contracts [Abstract]
Compensation Received on Termination of Charters, Notes Receivable	6,500,000
Deep Sea [Member]
Related party loans [Abstract]
Accrued interest on loan notes receivable with related parties	$ 500,000							$ 500,000	400,000	900,000
Frontline Ltd [Member]
Related party leasing and service contracts [Abstract]
Equity Method Investment, Ownership Percentage | Rate														27.73%
Investment in Shares, Ownership Percentage | Rate	6.48%							6.48%					7.03%
SFL Deepwater [Member]
Amounts due from and to related parties [Abstract]
Loans to related parties - associated companies, long-term	$ 113,000,000							$ 113,000,000		119,167,000
Related party loans [Abstract]
Loans advanced to related parties	145,000,000							145,000,000
Variable Interest Entity, Outstanding Loan Balance	113,000,000							113,000,000
Accrued interest on loan notes receivable with related parties	2,900,000							2,900,000	3,300,000	6,500,000
SFL Hercules [Member]
Amounts due from and to related parties [Abstract]
Loans to related parties - associated companies, long-term	80,000,000							80,000,000		85,920,000
Related party loans [Abstract]
Loans advanced to related parties	145,000,000							145,000,000
Variable Interest Entity, Outstanding Loan Balance	80,000,000							80,000,000
Accrued interest on loan notes receivable with related parties	2,500,000							2,500,000	3,300,000	6,500,000
SFL Linus [Member]
Amounts due from and to related parties [Abstract]
Loans to related parties - associated companies, long-term	121,000,000							121,000,000		125,000,000
Related party loans [Abstract]
Loans advanced to related parties	125,000,000							125,000,000
Variable Interest Entity, Outstanding Loan Balance	121,000,000							121,000,000
Accrued interest on loan notes receivable with related parties	2,800,000							2,800,000	2,800,000	5,600,000
NorAm Drilling [Member]
Related party loans [Abstract]
Interest and Dividend Income, Securities, Operating, Available-for-sale								300,000	200,000	500,000
Other Income								100,000
SFL Hercules [Member]
Amounts due from and to related parties [Abstract]
Due from related parties	3,078,000							3,078,000		0
SFL Deepwater [Member]
Amounts due from and to related parties [Abstract]
Due from related parties	2,594,000							2,594,000		0
Frontline Charterers and Deep Sea [Member]
Related party leasing and service contracts [Abstract]
Combined balance of net investments in direct financing leases	355,200,000							355,200,000		411,100,000
Combined balance of net investments in direct financing leases, short-term maturities	26,000,000							26,000,000		28,900,000
Frontline Charterers [Member]
Amounts due from and to related parties [Abstract]
Due from related parties	0							0		11,906,000
Due to related parties	$ 1,968,000							$ 1,968,000		$ 229,000
Related party leasing and service contracts [Abstract]
Number of vessels leased to related parties classified as direct financing leases | vessel	10							10		12
Assets held for sale										$ 24,100,000
Daily time charter rate for VLCCs payable to Frontline					20,000
Daily time charter rate for Suezmax tankers payable to Frontline | $ / d					15,000
Increase Profit sharing percentage of earnings from Frontline for use of fleet (in hundredths) | Rate					50.00%						25.00%
Profit sharing percent of earnings from Frontline from July 1 2015 onwards | Rate								50.00%
Leasing revenues earned from related parties [Abstract]
Management fees paid, vessels								$ 20,506,000	23,629,000	45,931,000
Commission and Brokerage Expenses								112,000	204,000	390,000
Administrative expenses - related parties								172,000	180,000	576,000
Frontline Ltd [Member]
Amounts due from and to related parties [Abstract]
Due from related parties	$ 5,183,000							5,183,000		3,008,000
Loans to related parties - others, long-term	8,171,000							8,171,000		9,268,000
Related party loans [Abstract]
Investment Income, Dividend								$ 3,300,000	8,250,000	$ 11,550,000
United Freight Carriers Inc [Member]
Related Party Transaction [Line Items]
Joint Venture, Ownership Percentage | Rate								50.00%
Related party leasing and service contracts [Abstract]
Related Party Transactions Profit Share Of Earnings On Lease Vessels Received From Related Party										50.00%
Profit sharing revenues									300,000	$ 600,000
Frontline Charterers, Deep Sea and UFC [Member]
Related party leasing and service contracts [Abstract]
Vessels and equipment, net	317,100,000							$ 317,100,000		328,600,000
Profit sharing revenues								5,591,000	38,937,000	51,470,000
Leasing revenues earned from related parties [Abstract]
Operating lease income								29,540,000	34,943,000	65,340,000
Direct financing lease interest income								9,385,000	12,208,000	22,850,000
Finance lease service revenue								19,827,000	22,932,000	44,523,000
Direct financing lease repayments								14,064,000	16,309,000	30,321,000
SFL Linus [Member]
Amounts due from and to related parties [Abstract]
Due from related parties	4,235,000							4,235,000		660,000
Deep Sea [Member]
Amounts due from and to related parties [Abstract]
Due from related parties	1,843,000							1,843,000		1,945,000
Due to related parties	$ 200,000							$ 200,000		$ 0
Related party leasing and service contracts [Abstract]
Number of vessels leased to related parties classified as direct financing leases | vessel	1							1		1		1
Number of vessels leased to related parties classified as operating leases | vessel	4							4		4
Related Party Transactions Profit Share Of Earnings On Lease Vessels Received From Related Party | Rate								50.00%
Profit sharing revenues								$ 0	0	$ 0
Number of offshore supply vessels | vessel											5
Frontline reverse stock split [Member]
Related party leasing and service contracts [Abstract]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares						11
Frontline Management [Member]
Amounts due from and to related parties [Abstract]
Due to related parties	$ 848,000							848,000		493,000
Frontline Management [Member] | Vessels Leased to Frontline Charterers [Member]
Related party leasing and service contracts [Abstract]
Related Party Transactions Daily Vessel Management Fee					$ 9,000
Frontline Shipping and Frontline Shipping II [Member]
Related party leasing and service contracts [Abstract]
Profit share income from July 1 2015 onwards							$ 50,900,000	5,600,000	38,700,000
Frontline Management AS [Member]
Leasing revenues earned from related parties [Abstract]
Management fees paid, provision of office facilities								80,000	155,000	317,000
Golden Ocean [Member]
Amounts due from and to related parties [Abstract]
Due to related parties	$ 369,000							$ 369,000		$ 0
Related party leasing and service contracts [Abstract]
Number of vessels leased to related parties classified as operating leases | vessel	8							8		8
Related Party Transactions Profit Share Of Earnings On Lease Vessels Received From Related Party | Rate								33.00%
Profit sharing revenues								$ 0	0	$ 0
Leasing revenues earned from related parties [Abstract]
Management fees paid, vessels								10,136,000	10,192,000	20,496,000
Operating Management Fees								370,000	404,000	795,000
Seatankers [Member]
Amounts due from and to related parties [Abstract]
Due to related parties	$ 45,000							45,000		79,000
Leasing revenues earned from related parties [Abstract]
Administrative expenses - related parties								22,000	157,000	315,000
Other related parties [Member]
Amounts due from and to related parties [Abstract]
Due to related parties	49,000							49,000		49,000
Frontline Corporate Services [Member]
Leasing revenues earned from related parties [Abstract]
Administrative expenses - related parties								$ 131,000	238,000	235,000
Golden Close [Member]
Related party leasing and service contracts [Abstract]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares								8.9
Related party loans [Abstract]
Investment Income, Dividend								$ 0
Interest and Dividend Income, Securities, Operating, Available-for-sale								600,000	$ 200,000	$ 200,000
Other Income								200,000
Available-for-sale Securities	29,900,000							29,900,000
Term loan facility, amount guaranteed	$ 18,000,000							$ 18,000,000
Guarantee term, Period								6 months

COMMITMENTS AND CONTINGENT LI61

COMMITMENTS AND CONTINGENT LIABILITIES (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)vessel	Dec. 31, 2016USD ($)
Commitments and Contingencies [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 1,694,603	$ 1,580,006
Long-term debt	1,694,603
Loans to related parties - associated companies, long-term	314,000	330,087
Contractual commitments under newbuilding contracts	65,200	76,100
Golden Close [Member]
Commitments and Contingencies [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 18,000
Guarantee term, Period	6 months
SFL Deepwater [Member]
Commitments and Contingencies [Line Items]
Long-term debt	$ 237,100
Loans to related parties - associated companies, long-term	113,000	119,167
SFL Hercules [Member]
Commitments and Contingencies [Line Items]
Long-term debt	265,000
Loans to related parties - associated companies, long-term	80,000	85,920
SFL Linus [Member]
Commitments and Contingencies [Line Items]
Long-term debt	332,500
Loans to related parties - associated companies, long-term	121,000	125,000
Seadrill [Member]
Commitments and Contingencies [Line Items]
Loans to related parties - associated companies, long-term	314,000	330,700
Financial Guarantee [Member]
Commitments and Contingencies [Line Items]
Guarantee on loan facility	235,000	240,000
Financial Guarantee [Member] | SFL Deepwater [Member]
Commitments and Contingencies [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	75,000
Financial Guarantee [Member] | SFL Hercules [Member]
Commitments and Contingencies [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	70,000
Financial Guarantee [Member] | SFL Linus [Member]
Commitments and Contingencies [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 90,000
1700 TEU Container Vessel [Member]
Commitments and Contingencies [Line Items]
Number of vessels not pledged under mortgages | vessel	3
Equity Accounted Subsidiaries [Member]
Commitments and Contingencies [Line Items]
Long-term debt	$ 834,600	883,400
Ship Finance Ltd and Equity Accounting Subsidiaries [Member]
Commitments and Contingencies [Line Items]
Long-term debt	2,500,000	2,500,000
US Dollar 45 million Secured Term Loan Facility [Member]
Commitments and Contingencies [Line Items]
Book value of assets pledged under ship mortgages	1,914,000	2,009,000
Long-term debt	$ 36,000	$ 36,000

CONSOLIDATED VARIABLE INTERES62

CONSOLIDATED VARIABLE INTEREST ENTITIES (Narrative) (Details) $ in Thousands	Jun. 30, 2017USD ($)subsidiary	Dec. 31, 2016USD ($)
Variable Interest Entity [Line Items]
Number of variable interest entities | subsidiary	26
Estimated residual values of leased property (un-guaranteed)	$ 243,974	$ 213,901
Variable Interest Entities With Assets Accounted for as Direct Financing Leases [Member]
Variable Interest Entity [Line Items]
Number of variable interest entities | subsidiary	2
Carrying value of vessels	$ 21,700
Unearned lease income	2,300
Estimated residual values of leased property (un-guaranteed)	5,800
Outstanding loan balance	6,000
Outstanding loan balance, current portion	$ 0
Variable Interest Entities With Assets Accounted for as Operating Lease Assets [Member]
Variable Interest Entity [Line Items]
Number of variable interest entities | subsidiary	24
Carrying value of vessels	$ 546,600
Outstanding loan balance	243,400
Outstanding loan balance, current portion	$ 13,900

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Details) $ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Sep. 30, 2017USD ($)$ / sharesshares

Jun. 30, 2017USD ($)

Jun. 30, 2016USD ($)

Dec. 31, 2016USD ($)

Sep. 12, 2017subsidiaryRate

Aug. 31, 2017USD ($)vesseltanker

Jun. 30, 2017NOKvessel

Jun. 30, 2017USD ($)vessel

Jun. 22, 2017NOK

Dec. 31, 2016NOK

Dec. 31, 2016USD ($)

Dec. 31, 2014vessel

Oct. 19, 2012NOK

Subsequent Event [Line Items]

Proceeds from sale of vessels and termination of charters

$ 62,762

$ 4,932

$ 29,102

Term of time charter, minimum period

3 years

Term of time charter, maximum period

10 years

Long-term debt

$ 1,694,603

Number of offshore supply vessels | vessel

5

5

Deep Sea [Member]

Subsequent Event [Line Items]

Number of offshore supply vessels | vessel

5

Subsequent Event [Member]

Subsequent Event [Line Items]

Proceeds from sale of vessels and termination of charters

$ 12,000

Number of car carriers | vessel

2

Number of oil product tankers contracted to be acquired | tanker

2

Term of time charter, minimum period

7 years

Term of time charter, maximum period

12 years

Long-term debt

$ 76,000

Fixed Interest Rate

6.91%

Dividends declares (in dollars per share) | $ / shares

$ 0.35

Options granted (in shares) | shares

113,000

Expiration period

5 years

Vesting period

3 years

Initial strike price (in shares) | $ / shares

$ 14.30

Subsequent Event [Member] | Deep Sea [Member]

Subsequent Event [Line Items]

Agreed period of extension to bank loan term

3 years

Subsequent Event [Member] | Seadrill [Member]

Subsequent Event [Line Items]

Agreed period of extension to bank loan term

4 years

Proportion of secured bank lenders in restructuring agreement with Seadrill Limited | Rate

97.00%

Proportion of bondholders in restructuring agreement with Seadrill Limited | Rate

40.00%

Number of wholly-owned subsidiaries that own drilling units accounted for using the equity method | subsidiary

3

Agreed Proportion of temporary reduction to daily charter rate | Rate

30.00%

Agreed Temporary Reduction in Daily Time Charter Rates, Period

5 years

Agreed Period of Charter Extension following Amendments

13 months

Number of drilling rigs owned by wholly-owned subsidiaries account for using the equity method | subsidiary

3

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

Subsequent Event [Line Items]

Principle debt amount | NOK

NOK 146,000,000

NOK 565,000,000

NOK 600,000,000

Long-term debt

$ 17,482

$ 65,445

NOK500million senior unsecured floating rate bonds due 2020 [Member]

Subsequent Event [Line Items]

Principle debt amount | NOK

NOK 500,000,000

NOK 500,000,000

NOK 0

Long-term debt

$ 59,871

$ 0