SFL (SFL) 20-F 26 Mar 18 2017 FY Annual report (foreign) Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($)	12 Months Ended
	Dec. 31, 2017	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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float		$ 913,349,725
Entity Common Stock, Shares Outstanding	110,930,873
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating revenues
Direct financing lease interest income - related parties	$ 16,362	$ 22,850	$ 34,193
Direct financing and sales-type lease interest income - other	21,903	331	0
Finance lease service revenues - related parties	35,010	44,523	46,460
Profit sharing revenues - related parties	5,753	51,470	59,607
Profit sharing revenues - other	61	74	0
Time charter revenues - related parties	51,832	55,265	30,319
Time charter revenues - other	186,577	171,483	130,459
Bareboat charter revenues - related parties	5,736	10,075	12,596
Bareboat charter revenues - other	34,860	34,964	55,419
Voyage charter revenues - other	21,037	19,329	35,783
Other operating income	1,747	2,587	1,904
Total operating revenues	380,878	412,951	406,740
Gain/(Loss) on sale of assets and termination of charters, net	1,124	(167)	7,364
Operating expenses
Vessel operating expenses - related parties	57,714	67,221	56,939
Vessel operating expenses - other	74,080	68,795	63,892
Depreciation	88,150	94,293	78,080
Vessel impairment charge	0	5,314	42,410
Administrative expenses - related parties	831	1,443	1,032
Administrative expenses - other	6,601	7,629	5,705
Total operating expenses	227,376	244,695	248,058
Net operating income	154,626	168,089	166,046
Non-operating income / (expense)
Interest income – related parties, associated companies	15,265	18,675	18,672
Interest income – related parties, other	422	897	13,395
Interest income - other	3,643	2,164	7,075
Interest expense - other	(90,414)	(71,843)	(70,583)
(Loss)/gain on purchase of bonds	(2,305)	(8,802)	1,007
Gain on redemption of loan notes - related parties	0	0	28,904
Gain on sale of loan notes and share warrants - other	0	0	44,552
Available-for-sale securities impairment charge	(4,410)	0	(20,552)
Dividend income - related parties	3,300	11,550	0
Other financial items, net	(2,684)	(2,089)	(21,289)
Net income before equity in earnings of associated companies	77,443	118,641	167,227
Equity in earnings of associated companies	23,766	27,765	33,605
Net income	$ 101,209	$ 146,406	$ 200,832
Per share information:
Basic earnings per share (in dollars per share)	$ 1.06	$ 1.57	$ 2.15
Weighted average number of shares outstanding, basic	95,597	93,497	93,450
Diluted earnings per share (in dollars per share)	$ 1.03	$ 1.50	$ 1.88
Weighted average number of shares outstanding, diluted	102,900	108,040	119,008
Cash dividend per share declared and paid (in dollars per share)	$ 1.60	$ 1.80	$ 1.74

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 101,209	$ 146,406	$ 200,832
Fair value adjustments to hedging financial instruments	9,974	9,702	27,154
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments	1,555	0	(1,348)
Fair value adjustments to available-for-sale securities	(23,528)	(93,406)	981
Unrealized loss from available-for-sale securities reclassified to Consolidated Statement of Operations	2,106	0	20,552
Fair value adjustments to hedging financial instruments in associated companies	1,182	1,150	158
Other items of comprehensive (loss)/income	60	(38)	(136)
Other comprehensive (loss)/income, net of tax	(8,651)	(82,592)	47,361
Comprehensive income	$ 92,558	$ 63,814	$ 248,193

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 153,052	$ 62,382
Available-for-sale securities	93,802	118,489
Trade accounts receivable	12,583	3,549
Due from related parties	9,625	17,519
Other receivables	9,012	11,370
Inventories	5,126	5,083
Prepaid expenses and accrued income	2,291	3,608
Investment in direct financing and sales-type leases, current portion	32,096	32,220
Assets Held-for-sale	0	24,097
Financial instruments (short-term): at fair value	108	110
Total current assets	317,695	278,427
Vessels and equipment, net	1,762,596	1,737,169
Newbuildings	0	33,447
Investment in direct financing and sales-type leases, long-term portion	585,975	523,815
Investment in associated companies	10,678	130
Loans to related parties - associated companies, long-term	314,000	330,087
Receivables from related parties - others, long-term	0	9,268
Other long-term assets	12,791	18,992
Financial instruments (long-term): at fair value	8,347	6,042
Total assets	3,012,082	2,937,377
Current liabilities
Short-term debt and current portion of long-term debt	313,823	174,900
Trade accounts payable	487	1,229
Due to related parties	857	850
Accrued expenses	13,351	13,800
Financial instruments (short-term): at fair value	503	39,309
Other current liabilities	14,724	8,882
Total current liabilities	343,745	238,970
Long-term liabilities
Long-term debt	1,190,184	1,377,974
Financial instruments (long-term): at fair value	48,618	61,456
Other long-term liabilities	234,538	124,882
Total liabilities	1,817,085	1,803,282
Commitments and contingent liabilities
Stockholders' equity
Share capital ($0.01 par value; 150,000,000 shares authorized; 110,930,873 shares issued and outstanding at December 31, 2017). $0.01 par value; 150,000,000 shares authorized; 101,504,575 shares issued and outstanding at December 31, 2016).	1,109	1,015
Additional paid-in capital	403,659	282,502
Contributed surplus	680,703	680,703
Accumulated other comprehensive loss	(94,612)	(84,779)
Accumulated other comprehensive loss – associated companies	206	(976)
Retained earnings	203,932	255,630
Total stockholders' equity	1,194,997	1,134,095
Total liabilities and stockholders' equity	$ 3,012,082	$ 2,937,377

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Stockholders' equity
Share capital, par value (in dollars per share)	$ 0.01	$ 0.01	$ 1
Share Capital, shares authorized	150,000,000	150,000,000	125,000,000
Share Capital, shares issued	110,930,873	101,504,575	93,504,575
Share Capital, shares outstanding	110,930,873	101,504,575		93,468,000	93,404,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating activities
Net income	$ 101,209	$ 146,406	$ 200,832
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	88,150	94,293	78,080
Amortization of deferred charges	9,013	10,972	11,613
Amortization of seller's credit	(1,249)	(1,324)	(1,904)
Vessel impairment charge	0	5,314	42,410
Available-for-sale securities impairment charge	4,410	0	20,552
Equity in earnings of associated companies	(23,766)	(27,765)	(33,605)
Loss/(gain) on sale of assets and termination of charters	(1,124)	167	(7,364)
Gain on redemption of Horizon loan notes and warrants	0	0	(44,552)
Gain on redemption of Frontline loan notes	0	0	(28,904)
Adjustment of derivatives to fair value recognized in net income	(8,208)	(4,399)	13,278
Loss/(gain) on repurchase of bonds	2,305	8,802	(1,007)
Interest receivable in form of notes	(635)	(633)	(2,182)
Other, net	3,959	365	(1,134)
Changes in operating assets and liabilities
Trade accounts receivable	(9,034)	(1,492)	1,196
Due from related parties	10,543	8,433	14,105
Other receivables	2,418	(856)	(840)
Inventories	(42)	(27)	(2,529)
Prepaid expenses and accrued income	1,317	2,181	(715)
Trade accounts payable	(742)	394	(1,572)
Accrued expenses	(1,188)	1,046	(5,302)
Other current liabilities	460	(11,804)	7,945
Net cash provided by operating activities	177,796	230,073	258,401
Investing activities
Repayments from investments in direct financing and sales-type leases	31,929	30,410	35,946
Additions to newbuildings	(81,664)	(188,142)	(223,109)
Purchase of vessels	0	0	(273,552)
Proceeds from sale of vessels and termination of charters	74,791	29,102	42,275
Proceeds from sale of investment in associated company	0	0	111,095
Proceeds from redemption of Horizon loan notes and warrants	0	0	71,681
Proceeds from redemption of Frontline loan notes	0	0	112,687
Net amounts received from/(paid to) associated companies	27,322	193,517	(62,083)
Other investments and long-term assets, net	(4,016)	(25,488)	(20,722)
Net cash provided by/(used in) investing activities	48,362	39,399	(205,782)
Financing activities
Proceeds from shares issued, net of issuance costs	88	323	675
Principal settlements of cross currency swaps, net	(29,186)	0	0
Repurchase of bonds	(68,383)	(296,800)	(23,787)
Proceeds from issuance of short-term and long-term debt	302,104	522,000	595,305
Repayments of short-term and long-term debt	(179,354)	(329,303)	(435,706)
Debt fees paid	(2,554)	(5,099)	(7,155)
Repayments of lease obligation liability	(5,296)	(97)	0
Cash dividends paid	(152,907)	(168,289)	(162,594)
Net cash used in financing activities	(135,488)	(277,265)	(33,262)
Net (decrease)/increase in cash and cash equivalents	90,670	(7,793)	19,357
Cash and cash equivalents at start of the year	62,382	70,175	50,818
Cash and cash equivalents at end of the year	153,052	62,382	70,175
Supplemental disclosure of cash flow information:
Interest paid, net of capitalized interest	$ 88,201	$ 65,184	$ 68,215

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Share capital	Additional paid-in capital	Contributed surplus	Accumulated other comprehensive loss	Accumulated other comprehensive loss – associated companies	Retained earnings
Balance, at beginning of year at Dec. 31, 2014	$ 1,153,492	$ 93,404	$ 285,248	$ 586,089	$ (48,240)	$ (2,284)	$ 239,275
Balance, at beginning of year (in shares) at Dec. 31, 2014	93,404,000	93,404,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Amortization of stock-based compensation	$ 0		0
Shares issued	$ 675	$ 64	611
Shares issued (in shares)	64,000	64,000
Transfer arising from reduction in par value of issued shares		$ 0		0
Equity component of convertible bond issuance due 2021	$ 0		0
Adjustment to equity component of convertible bond issuance due 2018 arising from reacquisition of bonds			0
Amortization of deferred equity contributions	2,044			2,044
Fair value adjustments to hedging financial instruments	27,154				27,154
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments	(1,348)				(1,348)
Fair value adjustments to available-for-sale securities	981				981
Unrealized loss from available-for-sale securities reclassified to Consolidated Statement of Operations	20,552				20,552
Other items of comprehensive (loss)/income	(136)				(136)
Fair value adjustments to hedging financial instruments in associated companies	158					158
Net income	200,832						200,832
Dividends declared	(162,594)						(162,594)
Balance, at end of year at Dec. 31, 2015	$ 1,241,810	$ 93,468	285,859	588,133	(1,037)	(2,126)	277,513
Balance, at end of year (in shares) at Dec. 31, 2015	93,468,000	93,468,000
Accumulated other comprehensive loss
Fair value adjustments to hedging financial instruments	$ (15,159)
Fair value adjustments to available-for-sale securities	14,446
Other items	(324)
Accumulated other comprehensive loss	(1,037)
Amortization of stock-based compensation	403		403
Shares issued	$ 323	$ 117	206
Shares issued (in shares)	8,036,575	8,036,575
Transfer arising from reduction in par value of issued shares		$ (92,570)		92,570
Equity component of convertible bond issuance due 2021	$ (3,966)		4,551
Adjustment to equity component of convertible bond issuance due 2018 arising from reacquisition of bonds			(8,517)
Amortization of deferred equity contributions	0			0
Fair value adjustments to hedging financial instruments	9,702				9,702
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments	0				0
Fair value adjustments to available-for-sale securities	(93,406)				(93,406)
Unrealized loss from available-for-sale securities reclassified to Consolidated Statement of Operations	0				0
Other items of comprehensive (loss)/income	(38)				(38)
Fair value adjustments to hedging financial instruments in associated companies	1,150					1,150
Net income	146,406						146,406
Dividends declared	(168,289)						(168,289)
Balance, at end of year at Dec. 31, 2016	$ 1,134,095	$ 1,015	282,502	680,703	(84,779)	(976)	255,630
Balance, at end of year (in shares) at Dec. 31, 2016	101,504,575	101,504,575
Accumulated other comprehensive loss
Fair value adjustments to hedging financial instruments	$ (5,457)
Fair value adjustments to available-for-sale securities	(78,960)
Other items	(362)
Accumulated other comprehensive loss	(84,779)
Amortization of stock-based compensation	374		374
Shares issued	$ 182	$ 94	88
Shares issued (in shares)	9,426,298	9,426,298
Transfer arising from reduction in par value of issued shares		$ 0		0
Equity component of convertible bond issuance due 2021	$ 120,695		137,063
Adjustment to equity component of convertible bond issuance due 2018 arising from reacquisition of bonds			(16,368)
Amortization of deferred equity contributions	0			0
Fair value adjustments to hedging financial instruments	9,974				9,974
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments	1,555				1,555
Fair value adjustments to available-for-sale securities	(23,528)				(23,528)
Unrealized loss from available-for-sale securities reclassified to Consolidated Statement of Operations	2,106				2,106
Other items of comprehensive (loss)/income	60				60
Fair value adjustments to hedging financial instruments in associated companies	1,182					1,182
Net income	101,209						101,209
Dividends declared	(152,907)						(152,907)
Balance, at end of year at Dec. 31, 2017	$ 1,194,997	$ 1,109	$ 403,659	$ 680,703	$ (94,612)	$ 206	$ 203,932
Balance, at end of year (in shares) at Dec. 31, 2017	110,930,873	110,930,873
Accumulated other comprehensive loss
Fair value adjustments to hedging financial instruments	$ 6,072
Fair value adjustments to available-for-sale securities	(100,382)
Other items	(302)
Accumulated other comprehensive loss	$ (94,612)

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	GENERAL Ship Finance International Limited ("Ship Finance" or the "Company") is an international ship and offshore asset owning and chartering company, incorporated in October 2003 in Bermuda as a Bermuda exempted company. The Company's common shares are listed on the New York Stock Exchange under the symbol "SFL". The Company is primarily engaged in the ownership, operation and chartering out of vessels and offshore related assets on medium and long-term charters. As of December 31, 2017 , the Company owned nine very large crude oil carriers ("VLCCs"), two Suezmax crude oil carriers, five Supramax dry bulk carriers, seven Handysize dry bulk carriers, two Kamsarmax dry bulk carriers, eight Capesize dry bulk carriers, 22 container vessels (including two chartered-in 19,200 twenty-foot equivalent units ("TEU") container vessels), two car carriers, two jack-up drilling rigs, two ultra-deepwater drilling units, five offshore support vessels, two chemical tankers and two oil product tankers. The two ultra-deepwater drilling units and one of the jack-up drilling rigs referred to above are owned by wholly-owned subsidiaries of the Company that are accounted for using the equity method (see Note 16: Investment in associated companies). Since the Company's incorporation in 2003 and public listing in 2004, Ship Finance has established itself as a leading international ship and offshore asset owning and chartering company, expanding both its asset and customer base.

ACCOUNTING POLICIES

ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
ACCOUNTING POLICIES	ACCOUNTING POLICIES Basis of Accounting The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States ("US GAAP"). The consolidated financial statements include the assets and liabilities and results of operations of the Company and its subsidiaries. All inter-company balances and transactions have been eliminated on consolidation. Where necessary, comparative figures for previous years have been reclassified to conform to changes in presentation in the current year. Consolidation of variable interest entities A variable interest entity is defined in Accounting Standards Codification ("ASC") Topic 810 "Consolidation" ("ASC 810") as a legal entity where either (a) the total equity at risk is not sufficient to permit the entity to finance its activities without additional subordinated support; (b) equity interest holders as a group lack either i) the power to direct the activities of the entity that most significantly impact on its economic success, ii) the obligation to absorb the expected losses of the entity, or iii) the right to receive the expected residual returns of the entity; or (c) the voting rights of some investors in the entity are not proportional to their economic interests and the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. ASC 810 requires a variable interest entity to be consolidated by its primary beneficiary, being the interest holder, if any, which has both (1) the power to direct the activities of the entity which most significantly impact on the entity's economic performance, and (2) the right to receive benefits or the obligation to absorb losses from the entity which could potentially be significant to the entity. We evaluate our subsidiaries, and any other entities in which we hold a variable interest, in order to determine whether we are the primary beneficiary of the entity, and where it is determined that we are the primary beneficiary we fully consolidate the entity. Investments in associated companies Investments in companies over which the Company exercises significant influence but which it does not consolidate are accounted for using the equity method. The Company records its investments in equity-method investees on the consolidated balance sheets as "Investment in associated companies" and its share of the investees' earnings or losses in the consolidated statements of operations as "Equity in earnings of associated companies." At December 31, 2017 , two ultra-deepwater drilling units and one jack-up drilling rig are owned by three wholly-owned subsidiaries of the Company that are accounted for using the equity method. Use of accounting estimates The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Foreign currencies The Company's functional currency is the U.S. dollar as the majority of revenues are received in U.S. dollars and the majority of the Company's expenditures are made in U.S. dollars. The Company's reporting currency is also the U.S. dollar. Most of the Company's subsidiaries report in U.S. dollars. Transactions in foreign currencies during the year are translated into U.S. dollars at the rates of exchange in effect at the date of the transaction. Foreign currency monetary assets and liabilities are translated using rates of exchange at the balance sheet date. Foreign currency non-monetary assets and liabilities are translated using historical rates of exchange. Foreign currency transaction gains or losses are included under "Other financial items" in the consolidated statements of operations. Revenue and expense recognition Revenues and expenses are recognized on the accrual basis. The Company generates its revenues from the charter hire of its vessels and offshore related assets, and freight billings. Revenues are generated from time charter hire, bareboat charter hire, direct financing lease interest income, sales-type lease interest income, finance lease service revenues, profit sharing arrangements and freight billings, where contracts exist, the charter and voyage rates are predetermined, service is provided and the collection of the revenue is reasonably assured. Each charter agreement is evaluated and classified as an operating or a capital lease. Rental receipts from operating leases are recognized in income as it is earned ratably on a straight line basis over the duration of the period of each charter as adjusted for off-hire days. Rental payments from capital leases, which are either direct financing leases or sales-type leases, are allocated between lease service revenue, if applicable, lease interest income and repayment of net investment in leases. The amount allocated to lease service revenue is based on the estimated fair value, at the time of entering the lease agreement, of the services provided which consist of ship management and operating services. Voyage revenues are recognized ratably over the estimated length of each voyage, and accordingly are allocated between reporting periods based on the relative transit time in each period. Voyage expenses are recognized as incurred. Probable losses on voyages are provided for in full at the time such losses can be estimated. Vessel operating expenses are expensed as incurred. Under a time charter, specified voyage costs such as fuel and port charges are paid by the charterer and other non-specified voyage expenses, such as commissions, are paid by the Company. Vessel operating costs include crews, voyage costs not applicable to the charterer, maintenance and insurance and are paid by the Company. Under a bareboat charter, the charterer assumes responsibility for all voyage and vessel operating costs and risks of operation. If payment is received in advance from charterers, it is recorded as deferred charter revenue and recognized as revenue over the period to which it relates. Amounts receivable from profit sharing arrangements with Frontline Shipping Limited ("Frontline Shipping") and also previously Frontline Shipping II Limited ("Frontline Shipping II"), which are related parties, are accrued based on amounts earned at the reporting date. Such profit share income has two elements: - 50% profit sharing: From January 1, 2012, up to and including June 30, 2015, the charter agreements with Frontline Shipping and Frontline Shipping II included provisions whereby they were to pay the Company profit sharing of 25% of their earnings on a time-charter equivalent basis from their use of the Company's fleet above average threshold charter rates each fiscal year. In December 2011, the Company received a $106 million compensation payment from Frontline Ltd. ("Frontline"), of which $50 million represented a non-refundable advance relating to this 25% profit sharing agreement. The amendments to the charter agreements made on June 5, 2015, increased the profit sharing percentage to 50% for earnings above new threshold levels from July 1, 2015, onwards. The Company did not recognize any income under the 25% profit sharing agreement, as the cumulative share of earnings did not attain the starting level of $50 million over the three and a half years of the agreement's duration. The new 50% profit sharing agreement is not subject to any such constraints. - Cash sweep: The charter agreements effective from January 1, 2012, were essentially the continuation of previous agreements amended to temporarily reduce the time-charter rates by $6,500 per day for the four year period commencing January 1, 2012. The agreements additionally provided that during the four year period Frontline Shipping and Frontline Shipping II would pay the Company 100% of any earnings on a time-charter equivalent basis above the temporarily reduced time charter rates, subject to a maximum of $6,500 per day per vessel. This arrangement was terminated with effect from July 1, 2015 (see Note 23: Related party transactions). As detailed in Note 23: Related party transactions, the Company also has, or has had, profit sharing arrangements with Golden Ocean Group Limited ("Golden Ocean") and United Freight Carriers ("UFC"). The Company also has profit sharing agreements with Deep Sea Supply Shipowning II AS (the “Solstad Charterer”), a wholly owned subsidiary of Solship Invest 3 AS (“Solship”, formerly Deep Sea Supply Plc, or Deep Sea). Amounts receivable under these arrangements are accrued on the basis of amounts earned at the reporting date. Any contingent elements of rental income, such as profit share and interest rate adjustments, are recognized when the contingent conditions have materialized. Cash and cash equivalents For the purposes of the consolidated statements of cash flows, all demand and time deposits and highly liquid, low risk investments with original maturities of three months or less are considered equivalent to cash. Available-for-sale securities Available-for-sale securities held by the Company consist of share investments and interest-earning listed and unlisted corporate bonds. Any premium paid on their acquisition is amortized over the life of the bond. Available-for-sale securities are recorded at fair value, with unrealized gains and losses recorded as a separate component of other comprehensive income. If circumstances arise which lead the Company to believe that the issuer of a corporate bond may be unable meet its payment obligations in full, or that the fair value at acquisition of the share investment or corporate bond may otherwise not be fully recoverable, then to the extent that a loss is expected to arise that unrealized loss is recorded as an impairment in the statement of operations, with an adjustment if necessary to any unrealized gains or losses previously recorded in other comprehensive income. In determining whether the Company has an other-than-temporary impairment in its investment in shares, the Company considers the period of decline, the amount and the severity of the decline and the ability of the investment to recover in the near to medium term. In determining whether the Company has an other-than temporary impairment in its investment in corporate bonds, in addition to the Company’s intention and ability to hold the investments until the market recovers, the Company evaluates if the underlying security provided by the bonds is sufficient to ensure that the decline in fair value of these bonds did not result in an other-than-temporary impairment. The cost of disposals or reclassifications from other comprehensive income is calculated on an average cost basis, where applicable. The fair value of unlisted corporate bonds is determined from an analysis of projected cash flows, based on factors including the terms, provisions and other characteristics of the bonds, credit ratings and default risk of the issuing entity, the fundamental financial and other characteristics of that entity, and the current economic environment and trading activity in the debt market. Trade accounts receivable The amount shown as trade accounts receivable at each balance sheet date includes receivables due from customers for hire of vessels and offshore related assets, net of allowance for doubtful balances. At each balance sheet date, all potentially uncollectable accounts are assessed individually to determine any allowance for doubtful receivables. At December 31, 2017 and 2016 , no provision was made for doubtful receivables. Inventories Inventories are comprised principally of fuel and lubricating oils and are stated at the lower of cost and market value. Cost is determined on a first-in first-out basis. Vessels and equipment (including operating lease assets) Vessels and equipment are recorded at historical cost less accumulated depreciation and, if appropriate, impairment charges. The cost of these assets less estimated residual value is depreciated on a straight-line basis over the estimated remaining economic useful life of the asset. The estimated economic useful life of our offshore assets, including drilling rigs and drillships, is 30 years and for all other vessels it is 25 years. Where an asset is subject to an operating lease that includes fixed price purchase options, the projected net book value of the asset is compared to the option price at the various option dates. If any option price is less than the projected net book value at an option date, the initial depreciation schedule is amended so that the carrying value of the asset is written down on a straight line basis to the option price at the option date. If the option is not exercised, this process is repeated so as to amortize the remaining carrying value, on a straight line basis, to the estimated scrap value or the option price at the next option date, as appropriate. This accounting policy for fixed assets has the effect that if an option is exercised there will be either a) no gain or loss on the sale of the asset or b) in the event that the option is exercised at a price in excess of the net book value at the option date, a gain will be reported in the statement of operations at the date of delivery to the new owners, under the heading "gain on sale of assets and termination of charters". Office equipment is depreciated at 20% per annum on a reducing balance basis. Newbuildings The carrying value of vessels under construction ("newbuildings") represents the accumulated costs to the balance sheet date which the Company has paid by way of purchase installments and other capital expenditures together with capitalized loan interest and associated finance costs. No charge for depreciation is made until a newbuilding is put into operation. Capitalized interest Interest expense is capitalized during the period of construction of newbuilding vessels based on accumulated expenditures for the applicable vessel at the Company's capitalization rate of interest. The amount of interest capitalized in an accounting period is determined by applying an interest rate ("the capitalization rate") to the average amount of accumulated expenditures for the vessel during the period. The capitalization rate used in an accounting period is based on the rates applicable to borrowings outstanding during the period. The Company does not capitalize amounts in excess of actual interest expense incurred in the period. Investment in Capital Leases Leases (charters) of our vessels where we are the lessor are classified as either capital leases or operating leases, based on an assessment of the terms of the lease. For charters classified as capital leases, the minimum lease payments (reduced in the case of time-chartered vessels by projected vessel operating costs) plus the estimated residual value of the vessel are recorded as the gross investment in the capital lease. For capital leases that are direct financing leases, the difference between the gross investment in the lease and the carrying value of the vessel is recorded as unearned lease interest income. The net investment in the lease consists of the gross investment less the unearned income. Over the period of the lease each charter payment received, net of vessel operating costs if applicable, is allocated between "lease interest income" and "repayment of investment in lease" in such a way as to produce a constant percentage rate of return on the balance of the net investment in the direct financing lease. Thus, as the balance of the net investment in each direct financing lease decreases, a lower proportion of each lease payment received is allocated to lease interest income and a greater proportion is allocated to lease repayment. For direct financing leases relating to time chartered vessels, the portion of each time charter payment received that relates to vessel operating costs is classified as "lease service revenue". For capital leases that are sales-type leases, the difference between the gross investment in the lease and the present value of its components, i.e. the minimum lease payments and the estimated residual value, is recorded as unearned lease interest income. The discount rate used in determining the present values is the interest rate implicit in the lease. The present value of the minimum lease payments, computed using the interest rate implicit in the lease, is recorded as the sales price, from which the carrying value of the vessel at the commencement of the lease is deducted in order to determine the profit or loss on sale. As is the case for direct financing leases, the unearned lease interest income is amortized to income over the period of the lease so as to produce a constant periodic rate of return on the net investment in the lease. Where a capital lease relates to a charter arrangement containing fixed price purchase options, the projected carrying value of the net investment in the lease is compared to the option price at the various option dates. If any option price is less than the projected net investment in the lease at an option date, the rate of amortization of unearned lease interest income is adjusted to reduce the net investment to the option price at the option date. If the option is not exercised, this process is repeated so as to reduce the net investment in the lease to the un-guaranteed residual value or the option price at the next option date, as appropriate. This accounting policy for investments in capital leases has the effect that if an option is exercised there will either be a) no gain or loss on the exercise of the option or b) in the event that an option is exercised at a price in excess of the net investment in the lease at the option date, a gain will be reported in the statement of operations at the date of delivery to the new owners. If the terms of an existing lease are agreed to be amended, other than by renewing the lease or extending its term, in a manner that would have resulted in a different classification of the lease had such amended terms been in effect at the lease inception, the amended lease agreement shall be considered to be a new lease agreement over the remainder of its term. If the terms of a capital lease are amended in a way that does not result in it being treated as a new operating lease agreement, the remaining minimum lease payments and, if appropriate, the estimated residual value will be amended to reflect the revised terms, with a corresponding increase or decrease in unearned income. Obligations under capital lease The Company charters-in two container vessels on a bareboat basis under long term leasing agreements. Leases of vessels and equipment, where the Company has substantially all the risks and rewards of ownership, are classified as capital leases. Each lease payment is allocated between liability and finance charges to achieve a constant rate on the capital balance outstanding. The interest element of the capital cost is charged to the Consolidated Statement of Operations over the lease period. Deemed Equity Contributions The Company has accounted for the acquisition of vessels from Frontline at Frontline's historical carrying value. The difference between the historical carrying value and the net investment in each lease was recorded as a deferred deemed equity contribution. These deferred deemed equity contributions were presented as a reduction in the net investment in direct financing leases in the balance sheet, due to the related party nature of both the transfer of the vessels and the subsequent direct financing leases. The deferred deemed equity contributions were amortized as credits to contributed surplus over the life of the lease arrangements, as lease payments were applied to the principal balance of each lease receivable. Amendments were made to the charter agreements on June 5, 2015, reducing daily lease payments from July 1, 2015, onwards. In the course of re-stating the amended leases, it was concluded that amortization of the deferred deemed equity contributions is no longer appropriate and these items are now incorporated into the revised lease schedules. Impairment of long-lived assets, including other long-term investments The carrying value of long-lived assets, including other long-term investments, that are held by the Company are reviewed whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For vessels, such indicators may include historically low spot charter rates and second hand vessel values. The Company assesses recoverability of the carrying value of the asset by estimating the future net cash flows expected to result from the asset, including eventual disposition, taking into account the possibility of any existing medium and long-term charter arrangements being terminated early. If the future expected net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the carrying value of the asset and its fair value. In addition, long-lived assets to be disposed of are reported at the lower of carrying amount and fair value less estimated costs to sell. Deferred charges Loan costs, including debt arrangement fees, are capitalized and amortized on a straight line basis over the term of the relevant loan. The straight line basis of amortization approximates the effective interest method in the Company's statement of operations. Amortization of loan costs is included in interest expense. If a loan is repaid early, any unamortized portion of the related deferred charges is charged against income in the period in which the loan is repaid. Similarly, if a portion of a loan is repaid early, the corresponding portion of the unamortized related deferred charges is charged against income in the period in which the early repayment is made. Convertible bonds The Company accounts for debt instruments with convertible features in accordance with the details and substance of the instruments at the time of their issuance. For convertible debt instruments issued at a substantial premium to equivalent instruments without conversion features, or those that may be settled in cash upon conversion, it is presumed that the premium or cash conversion option represents an equity component. Accordingly, the Company determines the carrying amounts of the liability and equity components of such convertible debt instruments by first determining the carrying amount of the liability component by measuring the fair value of a similar liability that does not have an equity component. The carrying amount of the equity component representing the embedded conversion option is then determined by deducting the fair value of the liability component from the total proceeds from the issue. The resulting equity component is recorded, with a corresponding offset to debt discount which is subsequently amortized to interest cost using the effective interest method over the period the debt is expected to be outstanding as an additional non-cash interest expense. Transaction costs associated with the instrument are allocated pro-rata between the debt and equity components. For conventional convertible bonds which do not have a cash conversion option or where no substantial premium is received on issuance, it may not be appropriate to split the bond into the liability and equity components. A conversion of the bonds at more favorable terms than the original bond is treated as an inducement and the Company recognizes a debt conversion expense equal to the fair value of all securities and other consideration transferred in the transaction in excess of the fair value of securities or consideration issuable pursuant to the original conversion terms. Financial Instruments In determining the fair value of its financial instruments, the Company uses a variety of methods and assumptions that are based on market conditions and risks existing at each balance sheet date. For the majority of financial instruments, including most derivatives and long-term debt, standard market conventions and techniques such as options pricing models are used to determine fair value. All methods of assessing fair value result in a general approximation of value, and such value may never actually be realized. Interest rate and currency swaps The Company enters into interest rate swap transactions from time to time to hedge a portion of its exposure to floating interest rates. These transactions involve the conversion of floating interest rates into fixed rates over the life of the transactions without an exchange of underlying principal. The Company also enters into currency swap transactions from time to time to hedge against the effects of exchange rate fluctuations on loan liabilities. Currency swap transactions involve the exchange of fixed amounts of other currencies for fixed US dollar amounts over the life of the transactions, including an exchange of underlying principal. The Company may also enter into a combination of interest and currency swaps "cross currency interest rate swaps". The fair values of the interest rate and currency swap contracts, including cross currency interest rate swaps, are recognized as assets or liabilities, and for certain of the Company's swaps the changes in fair values are recognized in the consolidated statements of operations. When the interest rate and/or currency swap or combination, qualifies for hedge accounting under ASC Topic 815 "Derivatives and Hedging" ("ASC 815"), and the Company has formally designated the swap as a hedge to the underlying loan, and when the hedge is effective, the changes in the fair value of the swap are recognized in other comprehensive income. If it becomes probable that the hedged forecasted transaction to which these swaps relate will not occur, the amounts in other comprehensive income will be reclassified into earnings immediately. Drydocking provisions Normal vessel repair and maintenance costs are charged to expense when incurred. The Company recognizes the cost of a drydocking at the time the drydocking takes place, that is, it applies the "expense as incurred" method. Earnings per share Basic earnings per share ("EPS") is computed based on the income available to common stockholders and the weighted average number of shares outstanding for basic EPS. Diluted EPS includes the effect of the assumed conversion of potentially dilutive instruments. Share-based compensation The Company accounts for share-based payments in accordance with ASC Topic 718 "Compensation – Stock Compensation" ("ASC 718"), under which the fair value of stock options issued to employees is expensed over the period in which the options vest. The Company uses the simplified method for making estimates of the expected term of stock options. 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 year ended December 31, 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 year ended December 31, 2017 .

RECENTLY ISSUED ACCOUNTING STAN

RECENTLY ISSUED ACCOUNTING STANDARDS	12 Months Ended
	Dec. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
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 also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 allows for adoption either on a full retrospective basis to each prior reporting period presented or on a modified retrospective basis with the cumulative effect of initially applying the new guidance recognized at the date of initial application, which will be effective for the Company beginning January 1, 2018. We have closely assessed the new guidance, including the interpretations by the FASB Transition Resource Group for Revenue Recognition, throughout 2017 and we have concluded that the ASU will impact our vessels operating on voyage charters. Revenue from voyage charters will continue to be recognized over time, however the period over which it is recognized will change from discharge-to-discharge to load-to-discharge. The Company believes that performance obligations under a voyage charter begin to be met from the point at which a cargo is loaded until the point at which a cargo is discharged. While this represents a change in the period over which revenue is recognized, the total voyage results recognized over all periods would not change, however, each period’s voyage results could differ materially from the same period’s voyage results recognized based on the present revenue recognition guidance. The Company has elected to adopt the amendments in ASU 2014-09 on a modified retrospective basis. The Company does not expect the adoption of the standard to have a material impact on the consolidated financial statements of the Company and upon adoption, the Company will recognize the cumulative effect of adopting this guidance as a minor adjustment to its opening balance of retained earnings as of January 1, 2018. Prior periods will not be retrospectively adjusted. 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. The effect of the adoption of ASU 2016-01 will be that $100.4 million of net unrealized losses will be reclassified from other comprehensive income to retained earnings. 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 does not expect the adoption of the standard to have a material impact on our consolidated financial statements. 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.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has only one reportable segment. The Company's assets operate on a world-wide basis and the Company's management does not evaluate performance by geographical region or by asset type, as they believe that any such information would not be meaningful.

TAXATION

TAXATION	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
TAXATION	TAXATION Bermuda Under current Bermudan law, the Company is not required to pay taxes in Bermuda on either income or capital gains. The Company has received written assurance from the Minister of Finance in Bermuda that, in the event of any such taxes being imposed, the Company will be exempted from taxation until the year 2035. United States The Company does not accrue U.S. income taxes as, in the opinion of U.S. counsel, the Company is not engaged in a U.S. trade or business and is exempted from a gross basis tax under Section 883 of the U.S. Internal Revenue Code. A reconciliation between the income tax expense resulting from applying statutory income tax rates and the reported income tax expense has not been presented herein, as it would not provide additional useful information to users of the financial statements as the Company's net income is subject to neither Bermuda nor U.S. tax. Other Jurisdictions Certain of the Company's subsidiaries and branches in Norway and the United Kingdom are subject to income tax in their respective jurisdictions. The tax paid by subsidiaries of the Company that are subject to income tax is not material.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The computation of basic EPS is based on the weighted average number of shares outstanding during the year and the consolidated net income of the Company. 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: Year ended December 31, (in thousands of $) 2017 2016 2015 Basic earnings per share: Net income available to stockholders 101,209 146,406 200,832 Diluted earnings per share: Net income available to stockholders 101,209 146,406 200,832 Interest and other expenses attributable to convertible bonds 4,511 15,310 22,449 Net income assuming dilution 105,720 161,716 223,281 The components of the denominator for the calculation of basic and diluted EPS are as follows: Year ended December 31, (in thousands) 2017 2016 2015 Basic earnings per share: Weighted average number of common shares outstanding 95,597 93,497 93,450 Diluted earnings per share: Weighted average number of common shares outstanding* 95,597 93,497 93,450 Effect of dilutive share options 26 — 23 Effect of dilutive convertible bonds 7,277 14,543 25,535 Weighted average number of common shares outstanding assuming dilution 102,900 108,040 119,008 Year ended December 31, 2017 2016 2015 Basic earnings per share: $ 1.06 $ 1.57 $ 2.15 Diluted earnings per share: $ 1.03 $ 1.50 $ 1.88 *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% convertible bonds. These shares are owned by the Company and will be returned on or before maturity of the bonds in 2021. In October 2017, the Company entered into separate privately negotiated transactions with certain holders of the 3.25% senior unsecured convertible bonds due 2018 to convert $121.0 million of the outstanding bonds into common shares. A total of 9,418,798 new shares was issued. The net outstanding principal amount at December 31, 2017 , was $63.2 million . The 3.75% convertible bonds were fully redeemed in cash in February 2016, without any conversion having taken place. The 5.75% convertible bonds issued in October 2016 were not dilutive at December 31, 2017 .

OPERATING LEASES

OPERATING LEASES	12 Months Ended
	Dec. 31, 2017
Leases, Operating [Abstract]
OPERATING LEASES	OPERATING LEASES Rental income The minimum future revenues to be received under the Company's non-cancelable operating leases on its vessels as of December 31, 2017 , are as follows: Year ending December 31, (in thousands of $) 2018 225,822 2019 199,174 2020 181,678 2021 133,495 2022 61,720 Thereafter 117,526 Total minimum lease revenues 919,415 There is no contingent rental income included above. The cost and accumulated depreciation of vessels leased to third parties on operating leases at December 31, 2017 and 2016 were as follows: ( in thousands of $) 2017 2016 Cost 2,256,747 2,154,994 Accumulated depreciation 494,151 417,825 Vessels and equipment, net 1,762,596 1,737,169

GAIN_(LOSS) ON SALE OF ASSETS A

GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS	12 Months Ended
	Dec. 31, 2017
Gain (Loss) on Disposition of Assets [Abstract]
GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS	GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS The Company has recorded gains/losses on sale of assets and termination of charters as follows: Year ended December 31, (in thousands of $) 2017 2016 2015 (Loss)/gain on sale of vessels (1,699 ) (167 ) 7,364 Gain on termination of charters 2,823 — — Total gain/(loss) on sale of assets and termination of charters 1,124 (167 ) 7,364 The Company distinguishes between gains or losses on termination of charters, where ownership of the underlying vessel is retained, and gains or losses on sale of assets, where the vessel is disposed of and there may be an associated charter termination fee paid or received for early termination of the underlying charter. (Loss)/Gain on sale of vessels: During the year ended December 31, 2017 , the Company recorded a net loss of $1.7 million arising from the disposals of four crude oil tankers and the commencement of a sales-type lease for the 1,700 TEU container vessel MSC Alice as described below. The VLCC Front Century , the Suezmax Front Brabant, the VLCC Front Scilla and the Suezmax Front Ardenne , which were accounted for as direct financing lease assets, were sold to unrelated third parties in March 2017, May 2017, June 2017 and August 2017, respectively. Losses of $26,000 , $1.7 million , $1.1 million and a gain of $0.3 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 year ended December 31, 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. During the year ended December 31, 2016 , the Company sold one VLCC and one offshore support vessel to unrelated parties and realized aggregate net loss of $0.2 million on their disposals. During the year ended December 31, 2015 , the Company sold three Suezmax tankers and five container vessels to unrelated parties and realized aggregate net gains of $7.4 million on their disposals. 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 , resulting as a gain on the termination of the charter.

GAIN ON SALE OF LOAN NOTES AND

GAIN ON SALE OF LOAN NOTES AND SHARE WARRANTS - OTHER	12 Months Ended
	Dec. 31, 2017
Investments, All Other Investments [Abstract]
GAIN ON SALE OF LOAN NOTES AND SHARE WARRANTS - OTHER	GAIN ON SALE OF LOAN NOTES AND SHARE WARRANTS - OTHER In May 2015, the Company sold its holding of loan notes in Horizon Lines, LLC and share warrants in Horizon Lines, Inc. for total net cash proceeds of approximately $71.7 million . These unlisted second lien interest-bearing loan notes and share warrants had been received as compensation on termination of charters to Horizon Lines, LLC in April 2012. At the time of disposal, the notes had a carrying value of approximately $25.9 million and the warrants had a carrying value of approximately $1.2 million , resulting in a total gain of $44.6 million on disposal for the year ended December 31, 2015.

OTHER FINANCIAL ITEMS

OTHER FINANCIAL ITEMS	12 Months Ended
	Dec. 31, 2017
Other Income and Expenses [Abstract]
OTHER FINANCIAL ITEMS	OTHER FINANCIAL ITEMS Other financial items comprise the following items: Year ended December 31, (in thousands of $) 2017 2016 2015 Net cash payments on non-designated derivatives (5,124 ) (4,913 ) (6,453 ) Net increase/(decrease) in fair value of non-designated derivatives 8,068 3,917 (13,051 ) Net increase/(decrease) in fair value of designated derivatives (ineffective portion) 140 482 (227 ) Other items (5,768 ) (1,575 ) (1,558 ) Total other financial items (2,684 ) (2,089 ) (21,289 ) The net movement in the fair values of non-designated derivatives and net cash payments thereon relate 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". The above net increase/ (decrease) in valuation of non-designated derivatives in the year ended December 31, 2017 , includes $1.6 million ( 2016 : $ nil ; 2015 : $(1.3) million ) reclassified from "Other comprehensive income", as a result of certain interest rate swaps relating to loan facilities no longer being designated as cash flow hedges. Other items in the year ended December 31, 2017 , include a net loss of $4.5 million arising from foreign currency translation ( 2016 : gain $146,000 ; 2015 : gain $53,000 ). Other items also include bank charges and fees relating to loan facilities.

AVAILABLE FOR SALE SECURITIES

AVAILABLE FOR SALE SECURITIES	12 Months Ended
	Dec. 31, 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 $) 2017 2016 Amortized cost 194,184 197,449 Accumulated net unrealized (loss)/gain (100,382 ) (78,960 ) Carrying value 93,802 118,489 The Company's investment in marketable securities consists of investments in shares and corporate bonds. Available-for-sale securities are recorded at fair value, with unrealized gains and losses recorded as a separate component of other comprehensive income. The net unrealized loss on available-for-sale securities included in other comprehensive income as at December 31, 2017 , was $100.4 million ( 2016 : net unrealized loss $79.0 million ) as follows: Year ended December 31, 2017 Year ended December 31, 2016 (in thousands of $) Amortised Cost Unrealised gains/(losses) Fair value Amortised Cost Unrealised gains/(losses) Fair value Corporate Bonds: Golden Close Senior 17,754 (2,240 ) 15,514 28,676 (5,495 ) 23,181 Golden Close Convertible 9,960 — 9,960 — — — Golden Close Super Senior 2,561 347 2,908 — — — NorAm Drilling 5,181 293 5,474 5,181 (245 ) 4,936 Oro Negro 7,886 — 7,886 12,894 (2,106 ) 10,788 Total corporate bonds 43,342 (1,600 ) 41,742 46,751 (7,846 ) 38,905 Shares: Frontline 150,004 (99,514 ) 50,490 150,004 (71,794 ) 78,210 NorAm Drilling 730 732 1,462 694 680 1,374 Golden Close 108 — 108 — — — Total shares 150,842 (98,782 ) 52,060 150,698 (71,114 ) 79,584 Total 194,184 (100,382 ) 93,802 197,449 (78,960 ) 118,489 The investments in shares at December 31, 2017 , consist of listed shares in Frontline with a carrying value of $50.5 million ( 2016 : $78.2 million ) (see Note 23: Related party transactions and Note 16: Investment in associated companies), shares in NorAm Drilling Company AS ("NorAm Drilling") traded in the Norwegian Over the Counter market ("OTC") market with a carrying value of $1.5 million ( 2016 : $1.4 million ) and shares in Golden Close Corp. Ltd. ("Golden Close") traded in the Norwegian OTC market with a carrying value of $0.1 million ( 2016 : $ nil ). In December 2017, the Company determined that the shares in Golden Close were other-than-temporarily impaired and recorded $0.6 million impairment charge in a separate line in the income statement for the year ended December 31, 2017 . For the year ended December 31, 2016 , the Company recorded no impairment charges in respect of its investments in shares. Of the $100.4 million net unrealized loss on available-for-sale securities included in other comprehensive income as at December 31, 2017 , only the net unrealized losses of the investment in Frontline shares have arisen for a period greater than one year. In determining whether the Company has an other-than-temporary impairment in its investment in Frontline shares, the Company considered the period of decline (which began in 2016), the amount and the severity of the decline and the ability of the investment to recover in the near to medium term. As the duration and severity of the decline was generally consistent with the overall tanker shipping sector, as the share has historically been sufficiently volatile to expect a full recovery and since the Company has the intent and the ability to hold the investment for a period sufficient to allow for a recovery of cyclical declines in this shipping sector, it determined that the decline in the fair value of the Company’s investment in Frontline shares did not result in an other-than-temporary impairment at December 31, 2017 . The investments in corporate bonds at December 31, 2017 , consist of listed and unlisted corporate bonds which have a total carrying value of $41.7 million ( 2016 : $38.9 million ) and have maturities between 2019 and 2022 . In December 2017, the Company determined that the unsecured convertible bonds issued by Golden Close and the secured corporate bonds issued by Oro Negro Drilling Pte. Ltd. ("Oro Negro") were other-than-temporarily impaired and recorded an aggregate impairment charge in a separate line in the Consolidated Statement of Operations of $3.9 million for the year ended December 31, 2017 . This is in part due to the lack of security and uncertainty as to whether the Company will hold onto the investment until recovery. For the year ended December 31, 2016 , the Company recorded no impairment charges in respect of its investments in secured notes. As a result of the impairment, $2.1 million was reclassified from Other Comprehensive Income to the Consolidated Statement of Operations. In determining whether the Company has an other-than temporary impairment in its investment in Golden Close senior corporate bonds, in addition to the Company’s intention and ability to hold the investments until the market recovers, the Company evaluated that the underlying security provided by these bonds is sufficient to ensure that the decline in fair value of these bonds did not result in an other-than-temporary impairment as at December 31, 2017 .

TRADE ACCOUNTS RECEIVABLE AND O

TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES	TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES Trade accounts receivable Trade accounts receivable are presented net of allowances for doubtful debts. The allowance for doubtful trade accounts receivable was $nil at both December 31, 2017 and December 31, 2016 . As at December 31, 2017 , the Company has no reason to believe that any amount included in trade accounts receivable will not be recovered through due process or negotiation. Other receivables Other receivables, which include accrued interest on notes held as available-for-sale securities, amounts due from vessel managers and claims receivable, are presented with no allowance for doubtful accounts as of December 31, 2017 and December 31, 2016 .

VESSELS AND EQUIPMENT, NET

VESSELS AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
VESSELS AND EQUIPMENT, NET	VESSELS AND EQUIPMENT, NET ( in thousands of $) 2017 2016 Cost 2,256,747 2,154,994 Accumulated depreciation 494,151 417,825 Vessels and equipment, net 1,762,596 1,737,169 During 2017 , the Company took delivery of two newbuilding oil product carriers at an aggregate cost of $115.1 million and transferred one container vessel from operating lease asset to a sales-type lease asset. The carrying value of the container vessel reclassified from vessels and equipment to investment in lease asset was $2.3 million . During 2016 , the Company took delivery of two newbuilding container vessels at an aggregate cost of $195.0 million . Depreciation expense was $88.2 million for the year ended December 31, 2017 ( 2016 : $94.3 million ; 2015 : $78.1 million ). No impairment charges were made against vessels and equipment in 2017. An impairment charge of $4.8 million was recorded against the carrying value of one container vessel in the year ended December 31, 2016 . In the year ended December 31, 2015 , an impairment charge of $29.2 million was recorded against the carrying value of two container vessels.

NEWBUILDINGS

NEWBUILDINGS	12 Months Ended
	Dec. 31, 2017
NEWBUILDINGS [Abstract]
NEWBUILDINGS	NEWBUILDINGS The carrying value of newbuildings represents the accumulated costs which the Company has paid in purchase installments and other capital expenditures relating to the acquisition of newbuilding vessels, together with capitalized loan interest. Interest capitalized in the cost of newbuildings amounted to $1.2 million in the year ended December 31, 2017 ( 2016 : $1.2 million ; 2015 : $0.4 million ). As at December 31, 2017 , the Company had no agreements for the construction of newbuilding vessels. ( December 31, 2016 : newbuilding accumulated costs amounted to $33.4 million in relation to two newbuilding oil product carriers under construction). During 2017 , the Company took delivery of two newbuilding oil product carriers, which were under construction as at December 31, 2016 . Upon delivery, the vessels were transferred from newbuildings to vessels and equipment. (see Note 13: Vessels and Equipment, net).

INVESTMENTS IN DIRECT FINANCING

INVESTMENTS IN DIRECT FINANCING LEASES	12 Months Ended
	Dec. 31, 2017
Net Investment in Direct Financing and Sales Type Leases [Abstract]
INVESTMENTS IN DIRECT FINANCING LEASES	INVESTMENTS IN DIRECT FINANCING AND SALES TYPE LEASES As of December 31, 2017 , nine of the Company's VLCCs ( 2016 : 12 VLCCs and Suezmax tankers) were accounted for as direct financing leases. These vessels are chartered to Frontline Shipping on long-term, fixed rate time charters which extend for various periods depending on the age of the vessels, ranging from approximately four to nine years. Frontline Shipping is a subsidiary of Frontline, a related party, and the terms of the charters do not provide them with an option to terminate the charter before the end of its term. The VLCC Front Scilla and the Suezmaxes Front Ardenne and Front Brabant , which were accounted for as direct financing leases at December 31, 2016 , were sold in June 2017, August 2017 and May 2017 respectively (see Note 8: (Loss)/gain on sale of assets). In November 2016, the Company agreed to sell the VLCC Front Century , also accounted for as a direct financing lease at December 31, 2015 , to an unrelated third party. The Company agreed to terminate the charter with Frontline Shipping upon delivery of the vessel to the new owner, which occurred in March 2017. In accordance with US GAAP, this asset was reclassified and presented on the balance sheet as "Asset held for sale" at December 31, 2016. An impairment loss of $0.5 million was recorded to write down its carrying value to its fair value less anticipated cost to sell. Also at December 31, 2017 , one of the Company's offshore support vessels is chartered on a long-term bareboat charter to the Solstad Charterer, a wholly owned subsidiary of Deep Sea Supply AS, which in turn is a wholly owned subsidiary of Solship (formerly Deep Sea). Solship is a wholly owned subsidiary of Solstad Farstad ASA (“Solstad Farstad”), following the June 2017 merger of Solstad Offshore ASA, Farstad Shipping ASA and Deep Sea. In September 2017, the Company entered into an amendment agreement relating to this charter which includes a reduction of the charter rate, the introduction of a minimum fixed price put option at expiry of the charter and a charter extension from January 2023 to the end of December 2027. The revisions did not result in a change in classification as direct finance lease. In addition to the above 10 vessels leased to Frontline Shipping and the Solstad Charterer ( 2016 : 13 ), the Company also had two ( 2016 : one ) container vessels accounted for as direct financing leases and one ( 2016 : none ) container vessel accounted for as a sales-type lease as at December 31, 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. The following lists the components of the investments in direct financing leases as at December 31, 2017 , and December 31, 2016 : (in thousands of $) 2017 2016 Total minimum lease payments to be received 916,765 862,083 Less : amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (211,508 ) (287,168 ) Net minimum lease payments receivable 705,257 574,915 Estimated residual values of leased property (un-guaranteed) 232,424 213,901 Less : unearned income (319,610 ) (232,781 ) Total investment in direct financing leases 618,071 556,035 Current portion 32,096 32,220 Long-term portion 585,975 523,815 618,071 556,035 The chartered-in vessels MSC Anna and MSC Viviana are included in the above. MSC Anna had a total carrying value at December 31, 2017 , of $141.6 million ( 2016 : $144.9 million ), and MSC Viviana had a total carrying value at December 31, 2017 of $142.4 million ( 2016 : $nil ). The minimum lease payments included above for these vessels at December 31, 2017 is $432.2 million ( 2016 : $229.7 million ) The minimum future gross revenues to be received under the Company's non-cancellable direct financing leases as of December 31, 2017 , are as follows: Year ending December 31, (in thousands of $) 2018 98,630 2019 98,238 2020 97,591 2021 97,012 2022 89,714 Thereafter 435,580 Total minimum lease revenues 916,765 The above minimum lease revenues includes $463.8 million related to the nine VLCCs leased to Frontline Shipping as of December 31, 2017 . Frontline Shipping is a 100% owned subsidiary of Frontline, however the performance under the leases is not guaranteed by Frontline following the amendments agreed in 2015. There is no requirement for a minimum cash balance in Frontline Shipping, but in exchange for releasing the guarantee a dividend restriction was introduced on Frontline Shipping whereby it can only make distributions to its parent company if it can demonstrate it will have minimum free cash of $2.0 million per vessel both prior to and following (i) such distribution and (ii) the payment of the next hire due and any profit share accrued under the charters. Due to the current depressed tanker market, there is a risk that Frontline Shipping may not have sufficient funds to pay the agreed charterhires. However, the performance under the fixed price agreements with Frontline Management whereby we pay management fees of $9,000 per day for each vessel to cover all operating costs including drydocking costs, is guaranteed by Frontline.

INVESTMENT IN ASSOCIATED COMPAN

INVESTMENT IN ASSOCIATED COMPANIES	12 Months Ended
	Dec. 31, 2017
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
INVESTMENT IN ASSOCIATED COMPANIES	INVESTMENT IN ASSOCIATED COMPANIES The Company has, and has had, 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. In addition, on June 5, 2015, the Company received 55 million shares in Frontline, equivalent to approximately 27.73% of Frontline's issued share capital at the time (see Note 23: Related party transactions). Frontline, which is listed on the New York Stock Exchange and the Oslo Stock Exchange and reports its operating results on a quarterly basis, was determined to be an associated company following receipt of these shares. On November 30, 2015, Frontline merged with Frontline 2012 Ltd ("Frontline 2012") and increased its issued share capital, thereby reducing the Company's shareholding in Frontline to approximately 7.03% . Accordingly, Frontline was assessed as no longer being an associated company and the Frontline shares are now held as available-for-sale securities (see Note 11: Available-for-sale securities). The Company's share of the net income of Frontline, in the period of the year ended December 31, 2015, during which it was an associated company accounted for using the equity method, was $2.6 million ( 2017 : $ nil ; 2016: $ nil ). The Company also received a dividend of $2.8 million from Frontline in December 2015, which was recorded against the carrying value of the investment. At December 31, 2017 , 2016 and 2015 , the Company had the following participation in investments that are recorded using the equity method: 2017 2016 2015 SFL Deepwater Ltd 100.00 % 100.00 % 100.00 % SFL Hercules Ltd 100.00 % 100.00 % 100.00 % SFL Linus Ltd 100.00 % 100.00 % 100.00 % SFL Deepwater Ltd. ("SFL Deepwater"), SFL Hercules Ltd. ("SFL Hercules"), and SFL Linus Ltd. ("SFL Linus") each own drilling units which have been leased to subsidiaries of Seadrill Limited (“Seadrill”), a related party, as further described below. 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 Limited (“Hemen”), who is also the largest shareholder in the Company. The Company, SFL Deepwater, SFL Hercules and SFL Linus have also entered into the Restructuring Plan, which will be implemented by way of prearranged chapter 11 cases. 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. 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 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. In connection with the Restructuring Plan, certain amendments were agreed with the banks under the loan facility, including an extension of the final maturity date by four years. The amendments to the loan facility are subject to approval by the court of the Restructuring Plan. At December 31, 2017 , the balance outstanding under the new facility was $225.8 million ( 2016 : $248.4 million ), and the available amount under the revolving part of the facility was $ nil ( 2016 : $ nil ). The Company guaranteed $75.0 million of this debt at December 31, 2017 ( 2016 : $75.0 million ). 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 originally expired in November 2023. Subject to approval by the court of the Restructuring Plan, the lease has been extended by 13 months until December 2024. 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. SFL Hercules is a 100% owned subsidiary of Ship Finance, incorporated in 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. In connection with the Restructuring Plan, certain amendments were agreed with the banks under the loan facility, including an extension of the final maturity date by four years. The amendments to the loan facility are subject approval by the court of the Restructuring Plan. At December 31, 2017 , the balance outstanding under this facility was $251.3 million ( 2016 : $278.7 million ), and the available amount under the revolving part of the facility was $ nil ( 2016 : $ nil ). The Company guaranteed $70.0 million of this debt at December 31, 2017 ( 2016 : $75.0 million ). 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 originally expired in November 2023. Subject to approval by the court of the Restructuring Plan, the lease has been extended by 13 months until December 2024. 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. 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. In connection with the Restructuring Plan, certain amendments were agreed with the banks under the loan facility, including an extension of the final maturity date by four years. The amendments to the loan facility are subject approval by the court of the Restructuring Plan. At December 31, 2017 , the balance outstanding under this facility was $308.8 million ( 2016 : $356.3 million ) and, the available amount under the revolving part of the facility was $ nil ( 2016 : $ nil ). The Company guaranteed $90.0 million of this debt at December 31, 2017 ( 2016 : $90.0 million ). 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 the 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. Summarized balance sheet information of the Company's equity method investees is as follows: As of December 31, 2017 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Current assets 97,723 26,242 29,152 42,329 Non-current assets 1,020,067 317,450 305,852 396,765 Total assets 1,117,790 343,692 335,004 439,094 Current liabilities 106,628 25,642 29,443 51,543 Non-current liabilities (1) 1,000,484 315,415 302,819 382,250 Total liabilities 1,107,112 341,057 332,262 433,793 Total shareholders' equity (2) 10,678 2,635 2,742 5,301 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) 1,109,961 343,426 335,603 430,932 Total liabilities 1,216,987 368,938 364,883 483,166 Total shareholders' equity (2) 130 54 30 46 (1) SFL Deepwater, SFL Hercules and SFL Linus non-current liabilities at December 31, 2017 , include $113.0 million ( 2016 : $119.2 million ), $80.0 million ( 2016 : $85.9 million ) and $121.0 million ( 2016 : $125.0 million ) due to Ship Finance, respectively (see Note 23: Related party transactions). In addition, SFL Deepwater, SFL Hercules and SFL Linus current liabilities at December 31, 2017 , include a further $0.2 million , $0.1 million and $3.6 million ( 2016 : $nil , $nil and $0.7 million ) due to Ship Finance (see Note 23: Related party transactions). (2) In the year ended December 31, 2017 , SFL Deepwater, SFL Hercules and SFL Linus paid dividends of $3.4 million ( 2016 : $46.3 million ; 2015 : $ nil ), $3.8 million ( 2016 : $25.1 million ; 2015 : $ nil ) and $7.3 million ( 2016 : $42.1 million ; 2015 : $ nil ), respectively. Summarized statement of operations information of the Company's wholly-owned equity method investees is shown below. Year ended December 31, 2017 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 73,487 20,873 21,827 30,787 Net operating revenues 73,487 20,873 21,827 30,787 Net income (3) 23,766 5,981 6,462 11,323 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 (3) 27,765 6,778 6,424 14,563 Year ended December 31, 2015 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 82,731 22,424 23,315 36,992 Net operating revenues 82,725 22,422 23,313 36,990 Net income (3) 31,001 7,561 7,306 16,134 (3) The net income of SFL Deepwater, SFL Hercules and SFL Linus for the year ended December 31, 2017 , includes interest payable to Ship Finance amounting to $5.4 million ( 2016 : $6.5 million ; 2015 : $6.5 million ), $4.3 million ( 2016 : $6.5 million ; 2015 : $6.5 million ), and $5.5 million ( 2016 : $5.6 million ; 2015 : $5.6 million ) respectively (see Note 23: Related party transactions). 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 Ship Finance and Seadrill must comply. 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, on a subordinated basis to the senior secured lenders in Seadrill and new secured notes. The financial covenants on Seadrill have been suspended until the Restructuring Plan is approved by the court or terminated. 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. As at December 31, 2017 , Ship Finance and Seadrill were in compliance with all of the applicable covenants under these long-term debt facilities.

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2017
Accrued Liabilities [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES (in thousands of $) 2017 2016 Vessel operating expenses 6,111 4,022 Administrative expenses 552 1,414 Interest expense 6,688 8,364 13,351 13,800

OTHER CURRENT LIABILITIES OTHER

OTHER CURRENT LIABILITIES OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	OTHER CURRENT LIABILITIES (in thousands of $) 2017 2016 Deferred and prepaid charter revenue 3,936 4,326 Obligations under capital leases - current portion 9,031 3,649 Employee taxes 18 151 Other items 1,739 756 14,724 8,882

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2017
Long-term Debt, by Current and Noncurrent [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT (in thousands of $) 2017 2016 Long-term debt: Norwegian kroner 600 million senior unsecured floating rate bonds due 2017 — 65,445 3.25% senior unsecured convertible bonds due 2018 63,218 184,202 Norwegian kroner 900 million senior unsecured floating rate bonds due 2019 92,477 87,801 Norwegian kroner 500 million senior unsecured floating rate bonds due 2020 61,001 — 5.75% senior unsecured convertible bonds due 2021 225,000 225,000 U.S. dollar denominated floating rate debt due through 2023 1,081,204 1,017,558 Total debt principal 1,522,900 1,580,006 Less : unamortized debt issuance costs (18,893 ) (27,132 ) Less : current portion of long-term debt (313,823 ) (174,900 ) Total long-term debt 1,190,184 1,377,974 The outstanding debt as of December 31, 2017 , is repayable as follows: Year ending December 31, (in thousands of $) 2018 313,823 2019 267,102 2020 201,181 2021 467,512 2022 190,340 Thereafter 82,942 Total debt principal 1,522,900 The weighted average interest rate for consolidated floating rate debt denominated in U.S. dollars and Norwegian kroner ("NOK") as at December 31, 2017 , was 4.26% per annum including margin ( 2016 : 4.20% ). This rate takes into consideration the effect of related interest rate swaps. At December 31, 2017 , the three month US Dollar London Interbank Offered Rate ("LIBOR") was 1.694% ( 2016 : 0.998% ) and the three month Norwegian Interbank Offered Rate ("NIBOR") was 0.81% ( 2016 : 1.17% ). NOK 600 million senior unsecured bonds due 2017 On October 19, 2012 , the Company issued a senior unsecured bond loan totaling NOK 600 million in the Norwegian credit market. The bonds bore quarterly interest at NIBOR plus a margin and were redeemable in full on October 19, 2017 . The bonds, in their entirety, were also redeemable at the Company's option from April 19, 2017 , upon giving bondholders at least 30 business days notice and paying 100.50% of par value plus accrued interest. Since their issue, the Company purchased bonds with principal amounts totaling NOK454.0 million , net and the remaining outstanding amount of NOK146.0 million was fully redeemed in July 2017, following the exercise of the call option by the Company. Thus, there was no principal amount outstanding as at December 31, 2017 in respect of this bond ( 2016 : NOK 565 million , equivalent to $65.4 million ). 3.25% senior unsecured convertible bonds due 2018 On January 30, 2013 , the Company issued a senior unsecured convertible bond loan totaling $350.0 million . Interest on the bonds is fixed at 3.25% per annum and is payable in cash quarterly in arrears on February 1, May 1, August 1, and November 1. The bonds are convertible into Ship Finance International Limited common shares at any time up to 10 banking days prior to February 1, 2018 . Subject to adjustment for any dividend payments in the future, the conversion price at the time of issue was $21.945 per share which represented a premium of approximately 33% to the share price at the time. Since then, dividend distributions have reduced the conversion price and as of December 31, 2017 , the conversion price was $13.2418 per share, or equivalent to 4,774,124 common shares if the bonds were converted at that price. Based on the closing price of our common stock of $15.50 on December 31, 2017 , the if-converted value exceeded the principal amounts by $10.8 million . In October 2017, the Company entered into separate privately negotiated transactions with certain holders of the bonds and converted principal amounts totaling $121.0 million of the outstanding bonds into 9,418,798 common shares. The Company had previously purchased and canceled bonds with principal amounts totaling $165.8 million in October 2016, thus the net amount outstanding at December 31, 2017 , was $63.2 million ( 2016 : $184.2 million ). A loss of $1.5 million was recorded in the year ended December 31, 2017 in respect of the equity conversions ( 2016 : a loss of $8.8 million was recorded in the year ended December 31, 2016 on the purchase and cancellation of bonds; 2015 : $ nil ). 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, 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 $1.8 million in the year ended December 31, 2017 ( 2016 : $3.4 million ). The equity component of the converted bonds in 2017 was valued at $16.4 million ( 2016 : $8.5 million for the purchased and canceled bonds) and this amount has been deducted from "Additional paid-in capital". In February 2018, the outstanding principal amount of $63.2 million as at December 31, 2017 was fully redeemed in cash, and the premium settled in common shares (see Note 27: Subsequent events). NOK900 million senior unsecured bonds due 2019 On March 19, 2014 , the Company issued a senior unsecured bond loan totaling NOK900.0 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 the bondholders at least 30 business days notice and paying 100.50% of par value plus accrued interest. Subsequent to their issue, at December 31, 2017 , the Company has purchased bonds with principal amounts totaling NOK142.0 million ( 2016 : NOK142.0 million ), which are being held as treasury bonds. The net amount outstanding at December 31, 2017 , was NOK758.0 million , equivalent to $92.5 million ( 2016 : NOK758.0 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 net amount outstanding at December 31, 2017 was $225.0 million ( 2016 : $225.0 million ). 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 the issuance, dividend distributions have increased the conversion rate and as of December 31, 2017 , the conversion rate was 60.0416 , equivalent to a conversion price of approximately $16.6561 per share or 13,509,360 common shares. Based on the closing price of our common stock of $15.50 on December 31, 2017 , the if-converted value was less than the principal amounts by $15.6 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, 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 and received $80,000 from Hemen 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 $0.9 million in the year ended December 31, 2017 ( 2016 : $0.2 million ). NOK500 million senior unsecured bonds due 2020 On June 22, 2017 , the Company issued a senior unsecured bond loan totaling NOK500.0 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 December 31, 2017 , was NOK500.0 million , equivalent to $61.0 million ( 2016 : NOKnil , 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 serve 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 approximately ten years. At December 31, 2017 , the amount available under the revolving part of the facility was $20.0 million ( 2016 : $20.0 million ). The net amount outstanding at December 31, 2017 , was $ nil ( 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 December 31, 2017 , was $20.6 million ( 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 approximately 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 December 31, 2017 , was $20.6 million ( 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 approximately eight years. The net amount outstanding at December 31, 2017 , was $26.3 million ( 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 December 31, 2017 , was $39.0 million ( 2016 : $44.9 million ). $171 million secured term loan facility In May 2011, eight wholly-owned subsidiaries of the Company entered into a $171.0 million secured loan facility with a syndicate of banks. The facility is supported by China Export & Credit Insurance Corporation, or SINOSURE, 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 December 31, 2017 , was $98.0 million ( 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 bore interest at LIBOR plus a margin and had a term of approximately five years. In October 2017, the total amount outstanding under this facility was prepaid and the facility was canceled. The net amount outstanding at December 31, 2017 was $ nil ( 2016 : $35.5 million ). $45 million secured term loan 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 December 31, 2017 , the available amount under the revolving part of the facility was $9.0 million ( 2016 : $9.0 million ). The net amount outstanding at December 31, 2017 , was $36.0 million ( 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. In October 2017, certain amendments were made to the agreement, including an extension of the final maturity date until January 2023. The net amount outstanding at December 31, 2017 , was $44.1 million ( 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 December 31, 2017 , was $20.0 million ( 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 December 31, 2017 , was $100.9 million ( 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 December 31, 2017 was $104.1 million ( 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 December 31, 2017 , was $29.1 million ( 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. Eight of the tankers were sold and delivered to their new owners prior to December 31, 2017 , and the facility was secured against the remaining nine tankers at December 31, 2017 . The facility bears interest at LIBOR plus a margin and has a term of three years. At December 31, 2017 , the available amount under the facility was $ nil ( 2016 : $175.6 million ). The net amount outstanding at December 31, 2017 , was $149.0 million ( 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 December 31, 2017 was $131.7 million ( 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 December 31, 2017 , the net amount outstanding was $187.0 million ( 2016 : $200.2 million ). $76 million secured term loan facility In August 2017, two wholly-owned subsidiaries of the Company entered into a $76.0 million secured term loan facility with a bank, secured against two product tanker vessels. The two vessels were delivered in August 2017. 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 . At December 31, 2017 , the net amount outstanding was $74.7 million ( 2016 : $nil ). The aggregate book value of assets pledged as security against borrowings at December 31, 2017 , was $1,908 million ( 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 December 31, 2017 , the Company is in compliance with all of the covenants under its long-term debt facilities. In addition, the $101.4 million secured term loan facility entered into in August 2014 contains certain financial covenants on Solship. As at December 31, 2017 , Solship was in compliance with all covenants under the loan agreement.

OTHER LONG TERM LIABILITIES

OTHER LONG TERM LIABILITIES	12 Months Ended
	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
OTHER LONG TERM LIABILITIES	OTHER LONG-TERM LIABILITIES (in thousands of $) 2017 2016 Unamortized sellers' credit 3,958 6,124 Obligations under capital leases - long-term portion 230,576 118,754 Other items 4 4 234,538 124,882 The unamortized seller's credit is in respect of the five offshore support vessels on long-term bareboat charters to the Solstad Charterer, a wholly owned subsidiary of Deep Sea Supply AS, which in turn is a wholly owned subsidiary of Solship (formerly Deep Sea). Solship is a wholly owned subsidiary of Solstad Farstad, following the June 2017 merger of Solstad Offshore ASA, Farstad Shipping ASA and Deep Sea. Between 2007 and 2008, the Company acquired six offshore support vessels from subsidiaries of then Deep Sea, which were chartered back to the subsidiaries under bareboat charter agreements. As part of the purchase consideration, the Company received seller's credits totaling $37.0 million which are being recognized as additional bareboat revenues over the period of the charters. One of the vessels was sold in February 2016. 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. Both vessels are accounted for as direct financing lease assets. The Company's future minimum lease obligations under the non-cancellable capital leases are as follows: Year ending December 31, (in thousands of $) 2018 26,289 2019 25,054 2020 25,122 2021 25,054 2022 25,054 Thereafter 281,850 Total lease obligations 408,423 Less: imputed interest payable (168,816 ) Present value of obligations under capital leases 239,607 Less: current portion (9,031 ) Obligations under capital leases - long-term portion 230,576 Interest incurred on capital leases was $16.0 million (2016: $0.2 million , 2015: $nil )

SHARE CAPITAL, ADDITIONAL PAID-

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS	12 Months Ended
	Dec. 31, 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) 2017 2016 150,000,000 common shares of $0.01 par value each (2016: 150,000,000 common 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) 2017 2016 110,930,873 common shares of $0.01 par value each (2016: 101,504,575 common shares of $0.01 par value each) 1,109 1,015 The Company's common shares are listed on the New York Stock Exchange. During the year ended December 31, 2017 , the Company issued a total of 7,500 new shares of $0.01 each following the exercise of share options ( 2016 : 36,575 new shares of $1.00 issued to satisfy options exercised). The weighted average exercise price of the options was $11.78 per share ( 2016 : $12.11 per share), resulting in a premium on issue of $0.1 million ( 2016 : $0.2 million ). In November 2016, the Board of Directors renewed the Ship Finance International Limited Share Option Scheme (the "Option Scheme"), originally approved in November 2006. 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 (see also Note 22: Share option plan). In October 2017, the Company issued a total of 9,418,798 new shares following separate privately negotiated transactions with certain holders of the 3.25% senior unsecured convertible bonds due 2018 for the conversion of a principal amount of $121.0 million from the outstanding balance of the convertible bonds. In January 2013, the Company issued a senior unsecured convertible bond loan totaling $350 million . The bonds are convertible into common shares at any time up to ten banking days prior to February 1, 2018 . The conversion price at the time of issue was $21.945 per share, representing a premium of approximately 33% to the share price at the time. Since then, dividend distributions have reduced the conversion price to $13.2418 per share. As required by ASC 470-20 "Debt with conversion and other options", the Company calculated the equity component of the convertible bond, which was valued at $20.7 million and recorded as "Additional paid-in capital" (see Note 19: Long-term Debt). Previously in October 2016, the Company purchased and canceled bonds with principal amounts totaling $165.8 million . The equity component of the converted bonds in 2017 was valued at $16.4 million ( 2016 : $8.5 million for the purchased and canceled bonds) and this amount has been deducted from "Additional paid-in capital". In November 2016, in relation with the Company's issue in October 2016 of senior unsecured convertible bonds totaling $225 million , the Company issued 8,000,000 new shares of par value $0.01 each. The shares were issued at par value and have been loaned to an affiliate of one of the underwriters of the bond issue, in order to assist investors in the bonds to hedge their position. The bonds are convertible into 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 to the share price at the time. Since then, dividend distributions have increased the conversion rate to 60.0416 , equivalent to a conversion price of approximately $16.6561 per share. As required by ASC 470-20 "Debt with conversion and other options", the Company calculated the equity component of the convertible bond, which was valued at $4.6 million and recorded as "Additional paid-in capital" (see Note 19: Long-term Debt). A reorganization of share capital was approved at the Annual General Meeting of the Company held in September 2016, in accordance with the Bermuda Companies Act. Following the reorganization, the Company's authorized share capital was adjusted to 150,000,000 shares of par value $0.01 each, prior to which it had been 125,000,000 shares of par value $1.00 each. As there were 93,504,575 shares issued and fully paid at the time of the reorganization, to reflect the decrease in the par value of each share from $1.00 to $0.01 , $92.6 million was transferred from share capital to contributed surplus. The shares of par value $0.01 each rank pari passu in all respects with each other.

SHARE OPTION PLAN

SHARE OPTION PLAN	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE OPTION PLAN	SHARE OPTION PLAN The Option Scheme originally adopted in November 2006 will expire in November 2026, following the renewal in November 2016. The subscription price for all options granted under the Option Scheme will be reduced by the amount of all dividends declared by the Company per share in the period from the date of grant until the date the option is exercised, provided the subscription price shall never be reduced below the par value of the share. Options granted under the scheme will vest at a date determined by the Board at the date of the grant. The options granted under the plan to date vest over a period of one to three years and have a five year term. There is no maximum number of shares authorized for awards of equity share options, and either authorized unissued shares of Ship Finance or treasury shares held by the Company may be used to satisfy exercised options. During the year ended December 31, 2017 , the Company granted additional option of 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 was $14.30 per share. The following summarizes share option transactions related to the Option Scheme in 2017 , 2016 and 2015 : 2017 2016 2015 Options Weighted average exercise price $ Options Weighted average exercise price $ Options Weighted average exercise price $ Options outstanding at beginning of year 279,000 13.03 125,000 12.56 189,000 13.17 Granted 113,000 14.30 279,000 14.38 — — Exercised (7,500 ) 11.78 (125,000 ) 12.11 (64,000 ) 10.55 Forfeited (15,000 ) 11.78 — — — — Options outstanding at end of year 369,500 12.20 279,000 13.03 125,000 12.56 Exercisable at end of year 85,500 11.43 — — 125,000 12.56 The exercise price of each option is progressively reduced by the amount of any dividends declared. The above figures show the average of the reduced exercise prices at the beginning and end of the year for options then outstanding. For options granted, exercised or forfeited during the year, the above figures show the average of the exercise prices at the time the options were granted, exercised or forfeited, as appropriate. The fair values of options granted are estimated on the date of the grant, using the Black-Scholes-Merton option valuation model. The fair values are then expensed over the periods in which the options vest. The weighted average fair value of options granted in 2017 was $3.77 per share as at grant-date ( 2016 : $3.06 ; 2015 : $ nil ). The weighted average assumptions used to calculate the fair values of the new options granted in 2017 were (a) risk free interest rate of 1.58% ( 2016 : 1.08% ; 2015 : 0% ); (b) expected share price volatility of 33.0% ( 2016 : 31.3% ; 2015 : 0% ); (c) expected dividend yield of 0% ( 2016 : 0% ; 2015 : 0% ) and (d) expected life of options 3.5 years ( 2016 : 3.5 years ; 2015 : nil ). The total intrinsic value of options exercised in 2017 was $0.02 million on the day of exercise ( 2016 : $0.3 million ; 2015 : $0.3 million ). The total amount of cash received from options exercised in 2017 was $0.1 million ( 2016 : $0.1 million ; 2015 : $0.8 million ). As of December 31, 2017 , there are 85,500 options fully vested but not exercised ( 2016 : nil ; 2015 : 125,000 options) and their intrinsic value amounted to $0.3 million ( 2016 : $ nil ; 2015 : $0.5 million ). The weighted average remaining term of the vested exercisable options is 3.2 years as of December 31, 2017 . As of December 31, 2017 , the unrecognized compensation costs relating to non-vested options granted under the Option Scheme was $0.5 million ( 2016 : $0.5 million ; 2015 : $ nil ) and their intrinsic value amounted to $0.9 million ( 2016 : $0.5 million ; 2015 : $ nil ). This cost will be recognized over the remaining vesting periods, which average 2.0 years ( 2016 : 2.2 years ; 2015 : nil ). During the year ended December 31, 2017 , the Company recognized an expense of $0.4 million in compensation cost relating to the stock options ( 2016 : $0.4 million ; 2015 : $ nil ).

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 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 had transactions with the following related parties, being companies in which our principal shareholder Hemen and companies associated with Hemen have, or had, a significant direct or indirect interest: – Frontline – Frontline Shipping and Frontline Shipping II (collectively the Frontline Charterers) – Seadrill – NADL – Golden Ocean – Deep Sea (1) – United Freight Carriers ("UFC" - which is a joint venture approximately 50% owned by Golden Ocean) – Seatankers Management Co. Ltd. ("Seatankers") – NorAm Drilling – Golden Close (1) From October 2017, Deep Sea was determined to no longer be a related party (see below). The Consolidated Balance Sheets include the following amounts due from and to related parties, excluding direct financing lease balances (see Note 15: Investments in direct financing leases): (in thousands of $) 2017 2016 Amounts due from: Frontline Shipping — 11,906 Frontline 5,579 3,008 Deep Sea — 1,945 SFL Linus 3,559 660 SFL Deepwater 171 — SFL Hercules 97 — Golden Ocean 153 — Other related parties 66 — Total amount due from related parties 9,625 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 — 9,268 Total long-term receivables from related parties — 9,268 Amounts due to: Frontline Shipping 539 229 Frontline 147 493 Seatankers 60 79 Other related parties 111 49 Total amount due to related parties 857 850 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 December 31, 2017 . As described below in "Related party loans", at December 31, 2017 and 2016 , the long-term loans from Ship Finance to SFL Deepwater, SFL Hercules, and SFL Linus are presented net of amounts due to them by Ship Finance on their respective current accounts. Related party leasing and service contracts One of the Company's offshore support vessels ( 2016 : one ) accounted for as a direct finance lease and four of the Company's offshore support vessels ( 2016 : four ) accounted for as operating leases were employed under long term charters to a subsidiary of Deep Sea. In June 2017, Deep Sea completed a merger with Solstad Offshore ASA and Farstad Shipping ASA, creating Solstad Farstad, with Hemen's shareholding in Solstad Farstad being below 20%. The Company determined that Solstad Farstad was not a related party as a result of the merger. Following the merger, Solship (formerly Deep Sea), a wholly owned subsidiary of Solstad Farstad, acts as charter guarantor under the long term charter agreements. As at December 31, 2017 , nine of the Company's vessels leased to Frontline Shipping ( 2016 : 12 ) are recorded as direct financing leases. In addition, at December 31, 2017 , eight dry bulk carriers were leased to a subsidiary of Golden Ocean under operating leases. Also at December 31, 2016 , one vessel leased to Frontline Shipping was recorded as a held for sale asset. At December 31, 2017 , the balance of net investments in direct financing leases with Frontline Shipping was $314.0 million ( 2016 : $411.1 million , including Deep Sea balance) of which $22.3 million ( 2016 : $28.9 million ) represents short-term maturities. At December 31, 2017 , the net book value of assets leased under operating leases to Golden Ocean was $233.7 million ( 2016 : $328.6 million , including net book value of assets leased to Deep Sea). In November 2016, the Company agreed to sell the VLCC Front Century to an unrelated party, and agreement was entered into with Frontline Shipping (the lessor) for the early termination of the charter upon delivery to the new owner, which occurred in March 2017. The Company had a carrying value of held for sale assets of $24.1 million as at December 31, 2016 . There were no assets held for sale at December 31, 2017 . During the year ended December 31, 2016 , the Company also earned income from another offshore support vessel leased to a subsidiary of Deep Sea, which was sold in February 2016, and from six dry bulk carriers leased to UFC on short-term charters, which all ended during 2016. A summary of leasing revenues earned from the Frontline Charterers, Deep Sea, Golden Ocean and UFC is as follows: (in millions of $) 2017 2016 2015 Operating lease income 59.4 65.3 42.9 Direct financing lease interest income 16.4 22.9 34.2 Finance lease service revenue 35.0 44.5 46.5 Direct financing lease repayments 25.1 30.3 35.9 Profit sharing revenues 5.8 51.5 59.6 On December 30, 2011, amendments were made to the charter agreements with Frontline Shipping and Frontline Shipping II, which related to 28 vessels accounted for as direct financing leases. In terms of the amending agreements, the Company received a compensation payment of $106 million and agreed to a $6,500 per day reduction in the time charter rate of each vessel for the period January 1, 2012, to December 31, 2015. Thereafter, the charter rates were to revert to the previously agreed daily amounts. The leases were amended to reflect the compensation payment received and the reduction in future minimum lease payments to be received. During 2012, 2013 and 2014, 11 of the vessels were sold. On June 5, 2015, further amendments were made to the charter agreements relating to the remaining 17 vessels. The amendments, which are effective from July 1, 2015, and do not affect the duration of the leases, include reductions in the daily time-charter rates to $20,000 per day for VLCCs and $15,000 per day for Suezmax tankers. As consideration for the agreed amendments, the Company received 55 million ordinary shares in Frontline, the fair value of which amounted to $150.2 million , and also an increase in the profit sharing percentage (see below). The charters for three of the vessels were transferred from Frontline Shipping II to Frontline Shipping, which is now the charter counterparty for all of the vessels. As part of the amended agreement, Frontline was released from its guarantee obligations under the charters, and in exchange a dividend restriction was introduced on Frontline Shipping whereby it can only make distributions to its parent company if it can demonstrate it will have minimum free cash of $2 million per vessel both prior to and following (i) such distribution and (ii) the payment of the next hire due and any profit share accrued under the charters. The Company's holding of Frontline ordinary shares represented 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 was accounted for as an investment in associated companies (see Note 16: Investment in associated companies). Since December 1, 2015, the Company's holding of Frontline shares has been held under available-for-sale securities (see Note 11: Available-for-sale securities). In February 2016, Frontline enacted a 1-for-5 reverse stock split of its ordinary shares, and the Company's holding in Frontline now consists of 11 million ordinary shares. In the year ended December 31, 2017 , the Company received dividend income totaling $3.3 million (2016: $11.6 million ) on these shares. As disclosed in Note 16: Investment in Associated Companies, the dividend received from Frontline in December 2015 was recorded against the carrying value of this investment. Prior to December 31, 2011, Frontline Shipping and Frontline Shipping II paid the Company profit sharing of 20% of their earnings on a time-charter equivalent basis from their use of the Company's fleet above average threshold charter rates each fiscal year. The amendments to the charter agreements made on December 30, 2011, increased the profit sharing percentage to 25% for future earnings above those threshold levels. Of the $106 million compensation payment received, $50 million represented a non-refundable advance relating to the new 25% profit sharing agreement. The amendments to the charter agreements effective from July 1, 2015, increased the profit sharing percentage from 25% to 50% for earnings above the new reduced time-charter rates, calculated and payable on a quarterly basis. The Company earned and recognized profit sharing revenue under the 50% arrangement of $5.6 million in the year ended December 31, 2017 ( 2016 : $50.9 million ; 2015 : $37.3 million ). The amendments to the charter agreements effective from January 1, 2012, additionally provided that for the four year period of the temporary reduction in charter rates, Frontline Shipping and Frontline Shipping II would pay the Company 100% of any earnings on a time-charter equivalent basis above the temporarily reduced time charter rates, subject to a maximum of $6,500 per day per vessel. This arrangement was discontinued from July 1, 2015, when the amendments agreed in June 2015 became effective. In the year ended December 31, 2015 , the Company earned and recognized a total of $19.9 million in revenue under this arrangement, which is also reported under "Profit sharing revenues" ( 2017 :$ nil ; 2016 : $ nil ). In the event that vessels on charter to the Frontline Charterers are agreed to be sold, the Company may either pay or receive compensation for the early termination of the lease. In March 2017, May 2017, June 2017 and August 2017, Front Century, Front Brabant, Front Scilla and Front Ardenne on charter to Frontline Shipping were sold and their leases canceled, with agreed termination fees received of $4.1 million , $3.6 million , $6.5 million and $4.8 million , respectively. In July 2016, the VLCC Front Vanguard on charter to Frontline Shipping was sold and its lease canceled, with an agreed termination fee of $0.3 million received. In September 2015, October 2015 and December 2015, the Suezmax tankers Front Glory , Front Splendour and Mindanao on charter to Frontline Shipping were sold and their leases canceled, with agreed termination fees paid of $2.2 million , $1.3 million and $3.3 million , respectively. In December 2015, Frontline redeemed in full the loan notes received by the Company on the sale of three VLCCs in 2014 and on the sale of two VLCCs in 2013. The aggregate amount received in 2015 on redemption was $113.2 million , including accrued interest of $0.5 million . At the time of the redemption, the loan notes had a carrying value of $83.8 million , resulting in a gain of $28.9 million on disposal. In February 2016, the offshore support vessel Sea Bear on charter to a subsidiary of Deep Sea was sold and its lease canceled. An agreed termination fee was received in the form of loan notes from Deep Sea, receivable over the approximately six remaining years of the canceled lease. The initial face value of the notes received, on which interest at 7.25% is receivable, was $14.6 million and their initial fair value of $11.6 million was determined from analysis of projected cash flows, based on factors including the terms, provisions and other characteristics of the notes, default risk of the issuing entity, the fundamental financial and other characteristics of that entity, and the current economic environment and trading activity in the debt market. From October 2017, due to the merger of Deep Sea, Solstad Offshore ASA and Farstad Shipping ASA, this loan note is no longer considered a related party receivable. The Company received $0.4 million interest on the loan note in 2017 up until it was considered a related party receivable ( 2016 : $0.9 million ). In the year ended December 31, 2017 , the Company had five other offshore support vessels on long-term bareboat charters to a subsidiary of Deep Sea. In July 2016, the Company agreed to amend the terms of the charters, which were scheduled to end between September 2019 and January 2020. Under the amended agreements, the charter rates have been temporarily reduced until May 2018, in exchange for extending the original charter periods by three years and introducing a 50% profit share on charter revenues earned by the vessels above the new base charter rates, calculated on a time-charter equivalent basis. In the year ended December 31, 2017 , the Company earned no income under this arrangement ( 2016 : $ nil ; 2015 : $ nil ). In June 2017, the Company agreed to further amend the terms of the charters, including a temporary reduction of the charter rates from June 2018 until December 2021, in exchange for extending charters to December 2027 and the introduction of a minimum fixed price put option at expiry of the charters. From October 2017, due to the merger of Deep Sea, Solstad Offshore ASA and Farstad Shipping ASA, these charter agreements are no longer considered a related party transaction. In the year ended December 31, 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 year ended December 31, 2017 , the Company earned $0.2 million income under this arrangement ( 2016 : $ nil ; 2015 : $ nil ). Until their short-term charters ended on the relevant dates during 2016 , the Company had up to six dry bulk carriers operating on time-charters to UFC during 2016 , which included profit-sharing arrangements whereby the Company earned a 50% share of profits earned by the vessels above threshold levels. In the year ended December 31, 2016 , the Company earned and recognized $0.6 million under this arrangement ( 2015 : $2.5 million ). As at December 31, 2017 , the Company owes a total of $0.3 million ( 2016 : was owed $11.9 million ) to Frontline Shipping in respect of leasing contracts and profit share. At December 31, 2017 , the Company was owed $5.6 million ( 2016 : $3.0 million ) by Frontline in respect of various short-term items, including vessel management fees and items relating to the operation of vessels trading in a pool with two vessels owned by Frontline. At December 31, 2016 , the Company was owed $1.9 million by Deep Sea and affiliates, including the $1.4 million carrying value of the short-term portion of the loan notes receivable from Deep Sea. From October 2017, due to the merger of Deep Sea, Solstad Offshore ASA and Farstad Shipping ASA, these amounts owed to the Company are no longer considered a related party transaction and the loan note receivable is disclosed as a long term asset. At December 31, 2017 , the Company was owed $3.6 million ( 2016 : $0.7 million ), $ 0.2 million (2016: $ nil ) and $ 0.1 million (2016: $ nil ) by SFL Linus, SFL Deepwater and SFL Hercules respectively in addition to the loan due to the Company - see below. The vessels leased to Frontline Shipping are on time charter terms and for each such vessel the Company pays a fixed management/operating fee of $9,000 per day to Frontline Management (Bermuda) Ltd. ("Frontline Management"), a wholly owned subsidiary of Frontline. This daily fee has been payable since July 1, 2015, when amendments to the charter agreements became effective, before which the fixed daily fee was $6,500 per day. An exception to this arrangement is for any vessel leased to Frontline Shipping which is sub-chartered on a bareboat basis, for which there is no management fee payable for the duration of the bareboat sub-charter. In addition, during the year ended December 31, 2017 , the Company also had eight container vessels, 11 dry bulk carriers, two Suezmax tankers, two car carriers and two product tankers operating on time charter or in the spot market, for which the supervision of the technical management was sub-contracted to Frontline Management. In the year ended December 31, 2017 , total management fees paid to Frontline Management amounted to $36.5 million ( 2016 : $45.9 million ; 2015 : $48.0 million ). The vessels leased to a subsidiary of Golden Ocean are on time charter terms and for each vessel the Company pays a fixed management/operating fee of $7,000 per day to Golden Ocean Group Management (Bermuda) Ltd. ("Golden Ocean Management"), a wholly-owned subsidiary of Golden Ocean. Additionally, in the year ended December 31, 2017 , the Company had eight container vessels and 14 dry bulk carriers operating on time-charters, for which part of the operational management was sub-contracted to Golden Ocean Management. In the year ended December 31, 2017 , total management fees paid to Golden Ocean Management amounted to approximately $21.2 million ( 2016 : $21.3 million ; 2015 : $9.0 million ). Management fees are classified as vessel operating expenses in the consolidated statements of operations. The Company operates the Suezmax tankers Glorycrown and Everbright in the spot market (until the latter commenced a two year time charter in January 2016) and pays Frontline and its subsidiaries, a management fee of 1.25% of chartering revenues. In 2017 , $0.3 million was paid to Frontline pursuant to this arrangement ( 2016 : $0.4 million ; 2015 : $0.4 million ). In 2017 , the Company also paid $0.3 million to Frontline Management ( 2016 : $0.6 million , 2015 : $0.5 million ) for administrative services, including corporate services, and $0.1 million to Seatankers ( 2016 : $ 0.3 million ; 2015 : $ nil ) for the provision of advisory and support services. The Company pays fees to Frontline Management for the management supervision of some of its newbuildings, which in 2017 amounted to $1.0 million ( 2016 : $ nil ; 2015 : $0.1 million ). In the year ended December 31, 2017 , the Company paid $0.3 million to Seatankers Management Norway AS ( 2016 : $0.3 million to Frontline Management AS; 2015 : $0.4 million to Frontline Management AS) for the provision of office facilities in Oslo, and $0.2 million to Frontline Corporate Services Ltd ( 2016 : $0.2 million to Arcadia Petroleum Limited; 2015 : $ nil to Arcadia Petroleum Limited) for the provision of office facilities in London. As at December 31, 2017 , the Company owes Frontline Management and Frontline Management AS a combined total of $0.1 million ( 2016 : $0.5 million ) for various items, including technical supervision fees and office costs. At December 31, 2017 , the Company also owes Seatankers $0.1 million ( 2016 : $0.1 million ) for advisory and support services. On October 5, 2016, the Company issued a senior unsecured convertible bond loan totaling $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, 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 and received $80,000 from Hemen. In the year ended December 31, 2017 , in addition to the above, the Company also paid $0.4 million to a subsidiary of Seadrill for the provision of management services for the jack-up drilling rig Soehanah. Related party loans – associated companies Ship Finance has entered into agreements with SFL Deepwater, SFL Hercules and SFL Linus granting them loans of $145.0 million , $145.0 million and $125.0 million , respectively. The loans to SFL Deepwater and SFL Hercules are fixed interest rate loans, and the loan to SFL Linus was interest free until the newbuilding jack-up drilling rig was delivered to that company, since when it has been a fixed interest rate loan. These loans are repayable in full on October 1, 2023, October 1, 2023 and June 30, 2029, respectively, or earlier if the companies sell their drilling units. The outstanding loan balances as at December 31, 2017 , were $113.0 million , $80.0 million , and $121.0 million for SFL Deepwater, SFL Hercules and SFL Linus, respectively. Ship Finance is entitled to take excess cash from these companies, and such amounts are recorded within their current accounts with Ship Finance. The loan agreements specify that the balance on the current accounts will have no interest applied and will be settled by offset against the eventual repayments of the fixed interest loans. In the year ended December 31, 2017 , the Company received interest income on these loans of $5.4 million from SFL Deepwater ( 2016 : $6.5 million ; 2015 : $6.5 million ), $4.3 million from SFL Hercules ( 2016 : $6.5 million ; 2015 : $6.5 million ) and $5.5 million from SFL Linus ( 2016 : $5.6 million , 2015 : $5.6 million ) totaling $15.2 million ( 2016 : $18.7 million ; 2015 : $18.7 million ). Related party purchases and sales of vessels No vessels were acquired from or sold to related parties in the years ended December 31, 2017 and December 31, 2016 . In the third quarter of 2015, the Company acquired eight Capesize dry bulk carriers from subsidiaries of Golden Ocean for a total acquisition cost of $272.0 million . The vessels were immediately chartered back to a subsidiary of Golden Ocean on ten year time charters, at base charter rates of $17,600 per day for the first seven years and $14,900 per day thereafter. The charters also included an interest adjustment clause, whereby the base charter rates are adjusted based on the actual LIBOR compared to a base LIBOR. In addition, the Company will receive a 33% profit share of revenues above the interest adjusted base charter rates payable by the charterer. Golden Ocean was granted an option to purchase all eight of the vessels at the expiry of the charters. If the purchase option is not exercised, Ship Finance has the option to extend the charters for an additional three years at the rate of $14,900 per day per vessel. Other related party investments In November 2016, the Company acquired approximately 12 million shares in NorAm Drilling for a consideration of approximately $0.7 million . This investment, on which no dividend was received in the year ended December 31, 2017 , is included in "Available-for-sale securities" (see Note 11). The Company also holds within "Available-for-sale securities" 5.7 million $1 senior secured corporate bonds in NorAm Drilling due 2019, on which interest amounting to $0.5 million was earned in the year ended December 31, 2017 ( 2016 : $0.5 million ; 2015 : $0.6 million ). In addition, the Company earned other income of $0.1 million in the year ended December 31, 2017 , (2016: $ nil ). During the year ended December 31, 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 year ended December 31, 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 $28.4 million (2016: $23.2 million ). The Company recorded interest income on these notes of $0.6 million in the year ended December 31, 2017 (2016: $0.2 million ). An impairment charge of $0.6 million (2016: $nil ) was made against the share investment and $1.0 million against the bond investments the year ended December 31, 2017 (2016: $ nil ). 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 had a maximum liability limited to $18.0 million , a maturity of up to six months, and was secured under a first lien mortgage over the drillship, ranking ahead of other secured claims. In the year ended December 31, 2017 , the Company recorded net fee income of $0.4 million for facilitating the guarantee. The performance guarantee agreement was terminated in September 2017.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 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. 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 tables present 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 $) 2017 2016 Designated derivative instruments -short-term assets: Interest rate swaps 108 110 Total derivative instruments - short-term assets 108 110 Designated derivative instruments -long-term assets: Interest rate swaps 5,136 4,540 Non-designated derivative instruments -long-term assets: Interest rate swaps 3,211 1,502 Total derivative instruments - long-term assets 8,347 6,042 (in thousands of $) 2017 2016 Designated derivative instruments -short-term liabilities: Interest rate swaps 248 — Cross currency interest rate swaps — 37,101 Non-designated derivative instruments -short-term liabilities: Interest rate swaps 255 — Cross currency interest rate swaps — 2,208 Total derivative instruments - short-term liabilities 503 39,309 Designated derivative instruments -long-term liabilities: Interest rate swaps 5,109 10,134 Cross currency interest rate swaps 36,120 41,716 Non-designated derivative instruments -long-term liabilities: Interest rate swaps 553 1,388 Cross currency interest rate swaps 6,836 8,218 Total derivative instruments - long-term liabilities 48,618 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 December 31, 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 $25,588 (reducing to $24,794) March 2008 August 2018 4.05% - 4.15% $26,324 (reducing to $23,394) April 2011 December 2018 2.13% - 2.80% $38,985 (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% $133,400 (terminating at $79,733) May 2012 August 2022 1.76% - 1.85% $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 % * $100,938 (reducing to $70,125) December 2016 December 2021 2.29% - 2.63% $104,125 (reducing to $70,125) January 2017 January 2022 1.82% - 1.99% $29,120 (reducing to $19,413) September 2015 March 2022 1.67 % $187,031 (reducing to $149,844) February 2016 February 2021 1.07% - 1.26% $63,987 (equivalent to NOK500 million) October 2017 March - June 2020 6.86% - 6.96% * * These swaps relate to the NOK900 million and NOK500 million unsecured bonds due 2019 and 2020, 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 December 31, 2017 , was $1.1 billion ( 2016 : $1.2 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 NOK900 million and NOK500 million senior unsecured bonds due 2019 and 2020, respectively. Principal Receivable Principal Payable Inception date Maturity date NOK900 million US$151.0 million March 2014 March 2019 NOK500 million US$64.0 million October 2017 March - June 2020 Apart from the NOK900 million and NOK500 million senior unsecured bonds due 2019 and 2020, 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 December 31, 2017 , and 2016 , are as follows: 2017 2017 2016 2016 (in thousands of $) Carrying value Fair value Carrying value Fair value Non-derivatives: Available-for-sale securities 93,802 93,802 118,489 118,489 Floating rate NOK bonds due 2017 — — 65,445 65,955 Floating rate NOK bonds due 2019 92,477 92,709 87,801 86,026 Floating rate NOK bonds due 2020 61,001 61,306 — — 3.25% unsecured convertible bonds due 2018 63,218 71,662 184,202 201,206 5.75% unsecured convertible bonds due 2021 225,000 242,719 225,000 224,366 Derivatives: Interest rate/ currency swap contracts – short-term receivables 108 108 110 110 Interest rate/ currency swap contracts – long-term receivables 8,347 8,347 6,042 6,042 Interest rate/ currency swap contracts – short-term payables 503 503 39,309 39,309 Interest rate/ currency swap contracts – long-term payables 48,618 48,618 61,456 61,456 The above short-term receivables relating to interest rate/ currency swap contracts at December 31, 2017 , all relate to designated hedges. The above long-term receivables relating to interest rate/ currency swap contracts at December 31, 2017 , include $3.2 million which relates to non-designated swap contracts ( 2016 : $1.5 million ), with the balance relating to designated hedges. The above short-term payables relating to interest rate/ currency swap contracts at December 31, 2017 , include $0.3 million which relates to non-designated swap contracts ( 2016 : $ $2.2 million ), with the balance relating to designated hedges. The above long-term payables relating to interest rate/ currency swap contracts at December 31, 2017 , include $7.4 million which relates to non-designated swap contracts ( 2016 : $9.6 million ), with the balance relating to designated hedges. In accordance with the accounting policy relating to interest rate and currency swaps (see Note 2 "Accounting policies: Derivatives – Interest rate and currency swaps"), 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 December 31, 2017 , are measured as follows: Fair value measurements using December 31, 2017 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands of $) (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities 93,802 93,802 Interest rate/ currency swap contracts – short-term receivables 108 108 Interest rate/ currency swap contracts - long-term receivables 8,347 8,347 Total assets 102,257 93,802 8,455 — Liabilities: Floating rate NOK bonds due 2017 — — Floating rate NOK bonds due 2019 92,709 92,709 Floating rate NOK bonds due 2020 61,306 61,306 3.25% unsecured convertible bonds due 2018 71,662 71,662 5.75% unsecured convertible bonds due 2021 242,719 242,719 Interest rate/ currency swap contracts – short-term payables 503 503 Interest rate/ currency swap contracts – long-term payables 48,618 48,618 Total liabilities 517,517 468,396 49,121 — The above fair values of financial assets and liabilities as at December 31, 2016 , were measured as follows: Fair value measurements using December 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands of $) (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities 118,489 118,489 — Interest rate/ currency swap contracts – short-term receivables 110 110 Interest rate/ currency swap contracts – long-term receivables 6,042 6,042 Total assets 124,641 118,489 6,152 — Liabilities: Floating rate NOK bonds due 2017 65,955 65,955 Floating rate NOK bonds due 2019 86,026 86,026 3.25% unsecured convertible bonds due 2018 201,206 201,206 5.75% unsecured convertible bonds due 2021 224,366 224,366 Interest rate/ currency swap contracts – short-term payables 39,309 39,309 Interest rate/ currency swap contracts – long-term payables 61,456 61,456 Total liabilities 678,318 577,553 100,765 — ASC Topic 820 "Fair Value Measurement and Disclosures" ("ASC 820") emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within levels one and two of the hierarchy) and the reporting entity's own assumptions about market participant assumptions (unobservable inputs classified within level three of the hierarchy). Level 1 inputs utilize unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in level one that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability, other than quoted prices, such as interest rates, foreign exchange rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the assets or liabilities, which typically are based on an entity's own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Available-for-sale securities consist of (i) listed Frontline shares (ii) NorAm Drilling shares traded in the OTC market (iii) Golden Close shares traded in the OTC market and (iv) listed and unlisted corporate bonds. The fair value of the Frontline and NorAm shares and the listed and unlisted corporate bonds consists of their aggregate market value as at the balance sheet date. The estimated fair values for the floating rate NOK bonds due 2017, 2019 and 2020, and the 3.25% and 5.75% unsecured convertible bonds are based on the quoted market prices as at the balance sheet date. The fair value of interest rate and currency swap contracts is calculated using established independent valuation technique applied to contracted cash flows and LIBOR/NIBOR interest rates as at the balance sheet date. 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, as these financial institutions are established and reputable establishments with no prior history of default. The Company does not require collateral or other securities to support financial instruments that are subject to credit risk. There is also a concentration of revenue risk with certain customers to whom the Company has chartered multiple vessels: In the year ended December 31, 2017 , Frontline Shipping accounted for approximately 15% of our consolidated operating revenues ( 2016 : 28% , 2015 : 33% ). Frontline Shipping is a 100% owned subsidiary of Frontline, but the performance under the leases is not guaranteed by Frontline following amendments agreed in 2015. There is no requirement for a minimum cash balance in Frontline Shipping, but in exchange for releasing the guarantee a dividend restriction was introduced on Frontline Shipping whereby it can only make distributions to its parent company if it can demonstrate it will have minimum free cash of $2 million per vessel both prior to and following (i) such distribution and (ii) the payment of the next hire due and any profit share accrued under the charters. Due to the current depressed tanker market, there is a risk that Frontline Shipping may not have sufficient funds to pay the agreed charterhires. However, the performance under the fixed price agreements with Frontline Management whereby we pay management fees of $9,000 per day for each vessel to cover all operating costs including drydocking costs, is guaranteed by Frontline. In the year ended December 31, 2017 , the Company had eight Capesize dry bulk carriers leased to a subsidiary of Golden Ocean which accounted for approximately 14% of our consolidated operating revenues ( 2016 : 12% , 2015 : 5% ). The Company also had 12 container vessels on long-term bareboat charters to MSC, which accounted for approximately 10% of our consolidated operating revenues in the year ended December 31, 2017 ( 2016 : 4% , 2015 : 4% ). 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 year ended December 31, 2017 , income from our associated companies accounted for 38.6% of our net income ( 2016 : 31.7% , 2015 : 24.7% ). The Company and three of the Company's subsidiaries, who own and lease the drilling rigs West Linus, West Hercules and West Taurus to subsidiaries of Seadrill, agreed to the Restructuring Plan announced by Seadrill in September 2017. As part of the agreement, Ship Finance and its relevant subsidiaries have agreed to reduce the contractual charter hire payable by the relevant Seadrill subsidiaries by approximately 29% for five years starting in 2018, with the reduced amounts added back in the period thereafter. The call options on behalf of the Seadrill subsidiaries under the relevant leases were also amended as part of the Restructuring Plan. The leases for West Hercules and West Taurus will 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 also agreed to extend the loan period by approximately four years under each of the facilities, with reduced amortization in the extension period compared to the current amortization. The above amendments are subject to approval by the court of the Restructuring Plan. 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 25: Commitments and Contingent Liabilities, the Company, at December 31, 2017 , guaranteed a total of $235.0 million ( December 31, 2016 : $240.0 million ) of the bank debt in these companies and had outstanding receivable balance on loans granted by the Company to these associated companies totaling $317.8 million ( December 31, 2016 : $330.7 million ). The loans granted by the Company are considered not impaired at December 31, 2017 , due to the fair value of ultra deepwater drilling rigs owned by SFL Deepwater and SFL Hercules exceeding the book values at December 31, 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.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Assets Pledged 2017 Book value of consolidated assets pledged under ship mortgages (see Note 19) $1,908 million Of the above, $1,576.3 million relates to assets recorded as vessels and equipment and $331.3 million relates to assets accounted for as investments in direct financing leases. Other Contractual Commitments 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, which are 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" - see Note 16. As at December 31, 2017 , their combined bank borrowings amounted to $785.8 million and the Company guaranteed $235.0 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 were fixed at $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 $317.8 million at December 31, 2017 ( 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. At December 31, 2017 , the Company had no commitments under contracts to acquire newbuilding vessels ( 2016 : $76.1 million ). There were no other material contractual commitments at December 31, 2017 . The Company is routinely party both as plaintiff and defendant to laws suits 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	12 Months Ended
	Dec. 31, 2017
CONSOLIDATED VARIABLE INTEREST ENTITIES [Abstract]
CONSOLIDATED VARIABLE INTEREST ENTITIES	CONSOLIDATED VARIABLE INTEREST ENTITIES As at December 31, 2017 , the Company's consolidated financial statements included 21 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 December 31, 2017 , one of the consolidated variable interest entities has a vessel which is accounted for as a direct financing lease asset. The vessel had a carrying value of $2.9 million , unearned lease income of $1.4 million and estimated residual value of $1.8 million . The vessel had no outstanding loan balance as at December 31, 2017 . The other 20 fully consolidated variable interest entities own vessels which are accounted for as operating lease assets, with a total net book value at December 31, 2017 , of $457.0 million . The outstanding loan balances in these entities amounted to a total of $187.7 million , of which the short-term portion was $13.9 million as at December 31, 2017 .

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In February 2018, the Company redeemed the full outstanding amount under the 3.25% senior unsecured convertible bonds due 2018 . The remaining outstanding principal amount of $63.2 million was paid in cash, and the premium settled in common shares with the issue of 651,365 new shares. In February 2018, the Company sold the 1999-built VLCC Front Circassia to an unrelated third party. The net sale proceeds were approximately $17.5 million , and in addition, the Company will receive an interest bearing loan note of approximately $8.9 million from Frontline Shipping as compensation for the early termination of the charter. In February 2018, Seadrill announced that it had succeeded in reaching a global settlement with an ad hoc group of bondholders, the official committee of unsecured creditors, and other major creditors in its chapter 11 cases. As a result of the settlement, approximately 70% of Seadrill's bondholders by principal amount have now signed up to the Restructuring Plan to support the restructuring. Ship Finance and approximately 99% of Seadrill's bank lenders by principal amount had previously signed and remain party to the Restructuring Plan. On February 27, 2018, the Board of Ship Finance declared a dividend of $0.35 per share which will be paid in cash on or around March 27, 2018. In March 2018, the Company announced that it has agreed to acquire a fleet of 15 second-hand feeder size container vessels, ranging from 1,100 TEU to 4,400 TEU, in combination with long term bareboat charters to a leading container line. Delivery of the vessels to the Company is expected in April 2018. In March 2018, the Company announced that it has agreed to sell the 1,700 TEU container vessel SFL Avon to an unrelated third party. The net sales proceeds will be approximately $12.5 million . Delivery to the new owner is expected in April 2018, and the Company expects a minor book gain in connection with the sale.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States ("US GAAP"). The consolidated financial statements include the assets and liabilities and results of operations of the Company and its subsidiaries. All inter-company balances and transactions have been eliminated on consolidation. Where necessary, comparative figures for previous years have been reclassified to conform to changes in presentation in the current year.
Consolidation of variable interest entities	Consolidation of variable interest entities A variable interest entity is defined in Accounting Standards Codification ("ASC") Topic 810 "Consolidation" ("ASC 810") as a legal entity where either (a) the total equity at risk is not sufficient to permit the entity to finance its activities without additional subordinated support; (b) equity interest holders as a group lack either i) the power to direct the activities of the entity that most significantly impact on its economic success, ii) the obligation to absorb the expected losses of the entity, or iii) the right to receive the expected residual returns of the entity; or (c) the voting rights of some investors in the entity are not proportional to their economic interests and the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. ASC 810 requires a variable interest entity to be consolidated by its primary beneficiary, being the interest holder, if any, which has both (1) the power to direct the activities of the entity which most significantly impact on the entity's economic performance, and (2) the right to receive benefits or the obligation to absorb losses from the entity which could potentially be significant to the entity. We evaluate our subsidiaries, and any other entities in which we hold a variable interest, in order to determine whether we are the primary beneficiary of the entity, and where it is determined that we are the primary beneficiary we fully consolidate the entity.
Investments in associated companies	Investments in associated companies Investments in companies over which the Company exercises significant influence but which it does not consolidate are accounted for using the equity method. The Company records its investments in equity-method investees on the consolidated balance sheets as "Investment in associated companies" and its share of the investees' earnings or losses in the consolidated statements of operations as "Equity in earnings of associated companies." At December 31, 2017 , two ultra-deepwater drilling units and one jack-up drilling rig are owned by three wholly-owned subsidiaries of the Company that are accounted for using the equity method.
Use of accounting estimates	Use of accounting estimates The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Foreign currencies	Foreign currencies The Company's functional currency is the U.S. dollar as the majority of revenues are received in U.S. dollars and the majority of the Company's expenditures are made in U.S. dollars. The Company's reporting currency is also the U.S. dollar. Most of the Company's subsidiaries report in U.S. dollars. Transactions in foreign currencies during the year are translated into U.S. dollars at the rates of exchange in effect at the date of the transaction. Foreign currency monetary assets and liabilities are translated using rates of exchange at the balance sheet date. Foreign currency non-monetary assets and liabilities are translated using historical rates of exchange. Foreign currency transaction gains or losses are included under "Other financial items" in the consolidated statements of operations.
Revenue and expense recognition	Revenue and expense recognition Revenues and expenses are recognized on the accrual basis. The Company generates its revenues from the charter hire of its vessels and offshore related assets, and freight billings. Revenues are generated from time charter hire, bareboat charter hire, direct financing lease interest income, sales-type lease interest income, finance lease service revenues, profit sharing arrangements and freight billings, where contracts exist, the charter and voyage rates are predetermined, service is provided and the collection of the revenue is reasonably assured. Each charter agreement is evaluated and classified as an operating or a capital lease. Rental receipts from operating leases are recognized in income as it is earned ratably on a straight line basis over the duration of the period of each charter as adjusted for off-hire days. Rental payments from capital leases, which are either direct financing leases or sales-type leases, are allocated between lease service revenue, if applicable, lease interest income and repayment of net investment in leases. The amount allocated to lease service revenue is based on the estimated fair value, at the time of entering the lease agreement, of the services provided which consist of ship management and operating services. Voyage revenues are recognized ratably over the estimated length of each voyage, and accordingly are allocated between reporting periods based on the relative transit time in each period. Voyage expenses are recognized as incurred. Probable losses on voyages are provided for in full at the time such losses can be estimated. Vessel operating expenses are expensed as incurred. Under a time charter, specified voyage costs such as fuel and port charges are paid by the charterer and other non-specified voyage expenses, such as commissions, are paid by the Company. Vessel operating costs include crews, voyage costs not applicable to the charterer, maintenance and insurance and are paid by the Company. Under a bareboat charter, the charterer assumes responsibility for all voyage and vessel operating costs and risks of operation. If payment is received in advance from charterers, it is recorded as deferred charter revenue and recognized as revenue over the period to which it relates. Amounts receivable from profit sharing arrangements with Frontline Shipping Limited ("Frontline Shipping") and also previously Frontline Shipping II Limited ("Frontline Shipping II"), which are related parties, are accrued based on amounts earned at the reporting date. Such profit share income has two elements: - 50% profit sharing: From January 1, 2012, up to and including June 30, 2015, the charter agreements with Frontline Shipping and Frontline Shipping II included provisions whereby they were to pay the Company profit sharing of 25% of their earnings on a time-charter equivalent basis from their use of the Company's fleet above average threshold charter rates each fiscal year. In December 2011, the Company received a $106 million compensation payment from Frontline Ltd. ("Frontline"), of which $50 million represented a non-refundable advance relating to this 25% profit sharing agreement. The amendments to the charter agreements made on June 5, 2015, increased the profit sharing percentage to 50% for earnings above new threshold levels from July 1, 2015, onwards. The Company did not recognize any income under the 25% profit sharing agreement, as the cumulative share of earnings did not attain the starting level of $50 million over the three and a half years of the agreement's duration. The new 50% profit sharing agreement is not subject to any such constraints. - Cash sweep: The charter agreements effective from January 1, 2012, were essentially the continuation of previous agreements amended to temporarily reduce the time-charter rates by $6,500 per day for the four year period commencing January 1, 2012. The agreements additionally provided that during the four year period Frontline Shipping and Frontline Shipping II would pay the Company 100% of any earnings on a time-charter equivalent basis above the temporarily reduced time charter rates, subject to a maximum of $6,500 per day per vessel. This arrangement was terminated with effect from July 1, 2015 (see Note 23: Related party transactions). As detailed in Note 23: Related party transactions, the Company also has, or has had, profit sharing arrangements with Golden Ocean Group Limited ("Golden Ocean") and United Freight Carriers ("UFC"). The Company also has profit sharing agreements with Deep Sea Supply Shipowning II AS (the “Solstad Charterer”), a wholly owned subsidiary of Solship Invest 3 AS (“Solship”, formerly Deep Sea Supply Plc, or Deep Sea). Amounts receivable under these arrangements are accrued on the basis of amounts earned at the reporting date. Any contingent elements of rental income, such as profit share and interest rate adjustments, are recognized when the contingent conditions have materialized.
Cash and cash equivalents	Cash and cash equivalents For the purposes of the consolidated statements of cash flows, all demand and time deposits and highly liquid, low risk investments with original maturities of three months or less are considered equivalent to cash.
Available for sale securities	Available-for-sale securities Available-for-sale securities held by the Company consist of share investments and interest-earning listed and unlisted corporate bonds. Any premium paid on their acquisition is amortized over the life of the bond. Available-for-sale securities are recorded at fair value, with unrealized gains and losses recorded as a separate component of other comprehensive income. If circumstances arise which lead the Company to believe that the issuer of a corporate bond may be unable meet its payment obligations in full, or that the fair value at acquisition of the share investment or corporate bond may otherwise not be fully recoverable, then to the extent that a loss is expected to arise that unrealized loss is recorded as an impairment in the statement of operations, with an adjustment if necessary to any unrealized gains or losses previously recorded in other comprehensive income. In determining whether the Company has an other-than-temporary impairment in its investment in shares, the Company considers the period of decline, the amount and the severity of the decline and the ability of the investment to recover in the near to medium term. In determining whether the Company has an other-than temporary impairment in its investment in corporate bonds, in addition to the Company’s intention and ability to hold the investments until the market recovers, the Company evaluates if the underlying security provided by the bonds is sufficient to ensure that the decline in fair value of these bonds did not result in an other-than-temporary impairment. The cost of disposals or reclassifications from other comprehensive income is calculated on an average cost basis, where applicable. The fair value of unlisted corporate bonds is determined from an analysis of projected cash flows, based on factors including the terms, provisions and other characteristics of the bonds, credit ratings and default risk of the issuing entity, the fundamental financial and other characteristics of that entity, and the current economic environment and trading activity in the debt market.
Trade accounts receivable	Trade accounts receivable The amount shown as trade accounts receivable at each balance sheet date includes receivables due from customers for hire of vessels and offshore related assets, net of allowance for doubtful balances. At each balance sheet date, all potentially uncollectable accounts are assessed individually to determine any allowance for doubtful receivables. At December 31, 2017 and 2016 , no provision was made for doubtful receivables.
Inventories	Inventories Inventories are comprised principally of fuel and lubricating oils and are stated at the lower of cost and market value. Cost is determined on a first-in first-out basis.
Vessels and equipment (including operating lease assets)	Vessels and equipment (including operating lease assets) Vessels and equipment are recorded at historical cost less accumulated depreciation and, if appropriate, impairment charges. The cost of these assets less estimated residual value is depreciated on a straight-line basis over the estimated remaining economic useful life of the asset. The estimated economic useful life of our offshore assets, including drilling rigs and drillships, is 30 years and for all other vessels it is 25 years. Where an asset is subject to an operating lease that includes fixed price purchase options, the projected net book value of the asset is compared to the option price at the various option dates. If any option price is less than the projected net book value at an option date, the initial depreciation schedule is amended so that the carrying value of the asset is written down on a straight line basis to the option price at the option date. If the option is not exercised, this process is repeated so as to amortize the remaining carrying value, on a straight line basis, to the estimated scrap value or the option price at the next option date, as appropriate. This accounting policy for fixed assets has the effect that if an option is exercised there will be either a) no gain or loss on the sale of the asset or b) in the event that the option is exercised at a price in excess of the net book value at the option date, a gain will be reported in the statement of operations at the date of delivery to the new owners, under the heading "gain on sale of assets and termination of charters". Office equipment is depreciated at 20% per annum on a reducing balance basis.
Newbuildings	Newbuildings The carrying value of vessels under construction ("newbuildings") represents the accumulated costs to the balance sheet date which the Company has paid by way of purchase installments and other capital expenditures together with capitalized loan interest and associated finance costs. No charge for depreciation is made until a newbuilding is put into operation.
Capitalized interest	Capitalized interest Interest expense is capitalized during the period of construction of newbuilding vessels based on accumulated expenditures for the applicable vessel at the Company's capitalization rate of interest. The amount of interest capitalized in an accounting period is determined by applying an interest rate ("the capitalization rate") to the average amount of accumulated expenditures for the vessel during the period. The capitalization rate used in an accounting period is based on the rates applicable to borrowings outstanding during the period. The Company does not capitalize amounts in excess of actual interest expense incurred in the period.
Investment in Capital Leases	Investment in Capital Leases Leases (charters) of our vessels where we are the lessor are classified as either capital leases or operating leases, based on an assessment of the terms of the lease. For charters classified as capital leases, the minimum lease payments (reduced in the case of time-chartered vessels by projected vessel operating costs) plus the estimated residual value of the vessel are recorded as the gross investment in the capital lease. For capital leases that are direct financing leases, the difference between the gross investment in the lease and the carrying value of the vessel is recorded as unearned lease interest income. The net investment in the lease consists of the gross investment less the unearned income. Over the period of the lease each charter payment received, net of vessel operating costs if applicable, is allocated between "lease interest income" and "repayment of investment in lease" in such a way as to produce a constant percentage rate of return on the balance of the net investment in the direct financing lease. Thus, as the balance of the net investment in each direct financing lease decreases, a lower proportion of each lease payment received is allocated to lease interest income and a greater proportion is allocated to lease repayment. For direct financing leases relating to time chartered vessels, the portion of each time charter payment received that relates to vessel operating costs is classified as "lease service revenue". For capital leases that are sales-type leases, the difference between the gross investment in the lease and the present value of its components, i.e. the minimum lease payments and the estimated residual value, is recorded as unearned lease interest income. The discount rate used in determining the present values is the interest rate implicit in the lease. The present value of the minimum lease payments, computed using the interest rate implicit in the lease, is recorded as the sales price, from which the carrying value of the vessel at the commencement of the lease is deducted in order to determine the profit or loss on sale. As is the case for direct financing leases, the unearned lease interest income is amortized to income over the period of the lease so as to produce a constant periodic rate of return on the net investment in the lease. Where a capital lease relates to a charter arrangement containing fixed price purchase options, the projected carrying value of the net investment in the lease is compared to the option price at the various option dates. If any option price is less than the projected net investment in the lease at an option date, the rate of amortization of unearned lease interest income is adjusted to reduce the net investment to the option price at the option date. If the option is not exercised, this process is repeated so as to reduce the net investment in the lease to the un-guaranteed residual value or the option price at the next option date, as appropriate. This accounting policy for investments in capital leases has the effect that if an option is exercised there will either be a) no gain or loss on the exercise of the option or b) in the event that an option is exercised at a price in excess of the net investment in the lease at the option date, a gain will be reported in the statement of operations at the date of delivery to the new owners. If the terms of an existing lease are agreed to be amended, other than by renewing the lease or extending its term, in a manner that would have resulted in a different classification of the lease had such amended terms been in effect at the lease inception, the amended lease agreement shall be considered to be a new lease agreement over the remainder of its term. If the terms of a capital lease are amended in a way that does not result in it being treated as a new operating lease agreement, the remaining minimum lease payments and, if appropriate, the estimated residual value will be amended to reflect the revised terms, with a corresponding increase or decrease in unearned income.
Obligations under Capital Lease	Obligations under capital lease The Company charters-in two container vessels on a bareboat basis under long term leasing agreements. Leases of vessels and equipment, where the Company has substantially all the risks and rewards of ownership, are classified as capital leases. Each lease payment is allocated between liability and finance charges to achieve a constant rate on the capital balance outstanding. The interest element of the capital cost is charged to the Consolidated Statement of Operations over the lease period.
Deemed Equity Contributions	Deemed Equity Contributions The Company has accounted for the acquisition of vessels from Frontline at Frontline's historical carrying value. The difference between the historical carrying value and the net investment in each lease was recorded as a deferred deemed equity contribution. These deferred deemed equity contributions were presented as a reduction in the net investment in direct financing leases in the balance sheet, due to the related party nature of both the transfer of the vessels and the subsequent direct financing leases. The deferred deemed equity contributions were amortized as credits to contributed surplus over the life of the lease arrangements, as lease payments were applied to the principal balance of each lease receivable. Amendments were made to the charter agreements on June 5, 2015, reducing daily lease payments from July 1, 2015, onwards. In the course of re-stating the amended leases, it was concluded that amortization of the deferred deemed equity contributions is no longer appropriate and these items are now incorporated into the revised lease schedules.
Impairment of long-lived assets, including other long-term investments	Impairment of long-lived assets, including other long-term investments The carrying value of long-lived assets, including other long-term investments, that are held by the Company are reviewed whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For vessels, such indicators may include historically low spot charter rates and second hand vessel values. The Company assesses recoverability of the carrying value of the asset by estimating the future net cash flows expected to result from the asset, including eventual disposition, taking into account the possibility of any existing medium and long-term charter arrangements being terminated early. If the future expected net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the carrying value of the asset and its fair value. In addition, long-lived assets to be disposed of are reported at the lower of carrying amount and fair value less estimated costs to sell.
Deferred charges	Deferred charges Loan costs, including debt arrangement fees, are capitalized and amortized on a straight line basis over the term of the relevant loan. The straight line basis of amortization approximates the effective interest method in the Company's statement of operations. Amortization of loan costs is included in interest expense. If a loan is repaid early, any unamortized portion of the related deferred charges is charged against income in the period in which the loan is repaid. Similarly, if a portion of a loan is repaid early, the corresponding portion of the unamortized related deferred charges is charged against income in the period in which the early repayment is made.
Convertible bonds	Convertible bonds The Company accounts for debt instruments with convertible features in accordance with the details and substance of the instruments at the time of their issuance. For convertible debt instruments issued at a substantial premium to equivalent instruments without conversion features, or those that may be settled in cash upon conversion, it is presumed that the premium or cash conversion option represents an equity component. Accordingly, the Company determines the carrying amounts of the liability and equity components of such convertible debt instruments by first determining the carrying amount of the liability component by measuring the fair value of a similar liability that does not have an equity component. The carrying amount of the equity component representing the embedded conversion option is then determined by deducting the fair value of the liability component from the total proceeds from the issue. The resulting equity component is recorded, with a corresponding offset to debt discount which is subsequently amortized to interest cost using the effective interest method over the period the debt is expected to be outstanding as an additional non-cash interest expense. Transaction costs associated with the instrument are allocated pro-rata between the debt and equity components. For conventional convertible bonds which do not have a cash conversion option or where no substantial premium is received on issuance, it may not be appropriate to split the bond into the liability and equity components. A conversion of the bonds at more favorable terms than the original bond is treated as an inducement and the Company recognizes a debt conversion expense equal to the fair value of all securities and other consideration transferred in the transaction in excess of the fair value of securities or consideration issuable pursuant to the original conversion terms.
Financial Instruments	Financial Instruments In determining the fair value of its financial instruments, the Company uses a variety of methods and assumptions that are based on market conditions and risks existing at each balance sheet date. For the majority of financial instruments, including most derivatives and long-term debt, standard market conventions and techniques such as options pricing models are used to determine fair value. All methods of assessing fair value result in a general approximation of value, and such value may never actually be realized. Interest rate and currency swaps The Company enters into interest rate swap transactions from time to time to hedge a portion of its exposure to floating interest rates. These transactions involve the conversion of floating interest rates into fixed rates over the life of the transactions without an exchange of underlying principal. The Company also enters into currency swap transactions from time to time to hedge against the effects of exchange rate fluctuations on loan liabilities. Currency swap transactions involve the exchange of fixed amounts of other currencies for fixed US dollar amounts over the life of the transactions, including an exchange of underlying principal. The Company may also enter into a combination of interest and currency swaps "cross currency interest rate swaps". The fair values of the interest rate and currency swap contracts, including cross currency interest rate swaps, are recognized as assets or liabilities, and for certain of the Company's swaps the changes in fair values are recognized in the consolidated statements of operations. When the interest rate and/or currency swap or combination, qualifies for hedge accounting under ASC Topic 815 "Derivatives and Hedging" ("ASC 815"), and the Company has formally designated the swap as a hedge to the underlying loan, and when the hedge is effective, the changes in the fair value of the swap are recognized in other comprehensive income. If it becomes probable that the hedged forecasted transaction to which these swaps relate will not occur, the amounts in other comprehensive income will be reclassified into earnings immediately.
Drydocking provisions	Drydocking provisions Normal vessel repair and maintenance costs are charged to expense when incurred. The Company recognizes the cost of a drydocking at the time the drydocking takes place, that is, it applies the "expense as incurred" method.
Earnings per share	Earnings per share Basic earnings per share ("EPS") is computed based on the income available to common stockholders and the weighted average number of shares outstanding for basic EPS. Diluted EPS includes the effect of the assumed conversion of potentially dilutive instruments.
Stock-based compensation	Share-based compensation The Company accounts for share-based payments in accordance with ASC Topic 718 "Compensation – Stock Compensation" ("ASC 718"), under which the fair value of stock options issued to employees is expensed over the period in which the options vest. The Company uses the simplified method for making estimates of the expected term of stock options.
Recently Issued Accounting Standards	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 year ended December 31, 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 year ended December 31, 2017 . 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 also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 allows for adoption either on a full retrospective basis to each prior reporting period presented or on a modified retrospective basis with the cumulative effect of initially applying the new guidance recognized at the date of initial application, which will be effective for the Company beginning January 1, 2018. We have closely assessed the new guidance, including the interpretations by the FASB Transition Resource Group for Revenue Recognition, throughout 2017 and we have concluded that the ASU will impact our vessels operating on voyage charters. Revenue from voyage charters will continue to be recognized over time, however the period over which it is recognized will change from discharge-to-discharge to load-to-discharge. The Company believes that performance obligations under a voyage charter begin to be met from the point at which a cargo is loaded until the point at which a cargo is discharged. While this represents a change in the period over which revenue is recognized, the total voyage results recognized over all periods would not change, however, each period’s voyage results could differ materially from the same period’s voyage results recognized based on the present revenue recognition guidance. The Company has elected to adopt the amendments in ASU 2014-09 on a modified retrospective basis. The Company does not expect the adoption of the standard to have a material impact on the consolidated financial statements of the Company and upon adoption, the Company will recognize the cumulative effect of adopting this guidance as a minor adjustment to its opening balance of retained earnings as of January 1, 2018. Prior periods will not be retrospectively adjusted. 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. The effect of the adoption of ASU 2016-01 will be that $100.4 million of net unrealized losses will be reclassified from other comprehensive income to retained earnings. 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 does not expect the adoption of the standard to have a material impact on our consolidated financial statements. 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.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 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: Year ended December 31, (in thousands of $) 2017 2016 2015 Basic earnings per share: Net income available to stockholders 101,209 146,406 200,832 Diluted earnings per share: Net income available to stockholders 101,209 146,406 200,832 Interest and other expenses attributable to convertible bonds 4,511 15,310 22,449 Net income assuming dilution 105,720 161,716 223,281 The components of the denominator for the calculation of basic and diluted EPS are as follows: Year ended December 31, (in thousands) 2017 2016 2015 Basic earnings per share: Weighted average number of common shares outstanding 95,597 93,497 93,450 Diluted earnings per share: Weighted average number of common shares outstanding* 95,597 93,497 93,450 Effect of dilutive share options 26 — 23 Effect of dilutive convertible bonds 7,277 14,543 25,535 Weighted average number of common shares outstanding assuming dilution 102,900 108,040 119,008 Year ended December 31, 2017 2016 2015 Basic earnings per share: $ 1.06 $ 1.57 $ 2.15 Diluted earnings per share: $ 1.03 $ 1.50 $ 1.88

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2017
Leases, Operating [Abstract]
Minimum future revenue to be received under non-cancelable operating leases	The minimum future revenues to be received under the Company's non-cancelable operating leases on its vessels as of December 31, 2017 , are as follows: Year ending December 31, (in thousands of $) 2018 225,822 2019 199,174 2020 181,678 2021 133,495 2022 61,720 Thereafter 117,526 Total minimum lease revenues 919,415
Cost and accumulated depreciation of vessels leased to third parties on operating leases	The cost and accumulated depreciation of vessels leased to third parties on operating leases at December 31, 2017 and 2016 were as follows: ( in thousands of $) 2017 2016 Cost 2,256,747 2,154,994 Accumulated depreciation 494,151 417,825 Vessels and equipment, net 1,762,596 1,737,169

GAIN_(LOSS) ON SALE OF ASSETS38

GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Tables)	12 Months Ended
	Dec. 31, 2017
Gain (Loss) on Disposition of Assets [Abstract]
Gains on sale of assets and termination of charters	The Company has recorded gains/losses on sale of assets and termination of charters as follows: Year ended December 31, (in thousands of $) 2017 2016 2015 (Loss)/gain on sale of vessels (1,699 ) (167 ) 7,364 Gain on termination of charters 2,823 — — Total gain/(loss) on sale of assets and termination of charters 1,124 (167 ) 7,364

OTHER FINANCIAL ITEMS (Tables)

OTHER FINANCIAL ITEMS (Tables)	12 Months Ended
	Dec. 31, 2017
Other Income and Expenses [Abstract]
Other financial items	Other financial items comprise the following items: Year ended December 31, (in thousands of $) 2017 2016 2015 Net cash payments on non-designated derivatives (5,124 ) (4,913 ) (6,453 ) Net increase/(decrease) in fair value of non-designated derivatives 8,068 3,917 (13,051 ) Net increase/(decrease) in fair value of designated derivatives (ineffective portion) 140 482 (227 ) Other items (5,768 ) (1,575 ) (1,558 ) Total other financial items (2,684 ) (2,089 ) (21,289 )

AVAILABLE FOR SALE SECURITIES (

AVAILABLE FOR SALE SECURITIES (Tables)	12 Months Ended
	Dec. 31, 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 $) 2017 2016 Amortized cost 194,184 197,449 Accumulated net unrealized (loss)/gain (100,382 ) (78,960 ) Carrying value 93,802 118,489

VESSELS AND EQUIPMENT, NET (Tab

VESSELS AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Vessels and equipment	( in thousands of $) 2017 2016 Cost 2,256,747 2,154,994 Accumulated depreciation 494,151 417,825 Vessels and equipment, net 1,762,596 1,737,169

INVESTMENTS IN DIRECT FINANCI42

INVESTMENTS IN DIRECT FINANCING LEASES (Tables)	12 Months Ended
	Dec. 31, 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 leases as at December 31, 2017 , and December 31, 2016 : (in thousands of $) 2017 2016 Total minimum lease payments to be received 916,765 862,083 Less : amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (211,508 ) (287,168 ) Net minimum lease payments receivable 705,257 574,915 Estimated residual values of leased property (un-guaranteed) 232,424 213,901 Less : unearned income (319,610 ) (232,781 ) Total investment in direct financing leases 618,071 556,035 Current portion 32,096 32,220 Long-term portion 585,975 523,815 618,071 556,035
Minimum future gross revenues to be received under non-cancellable direct financing and sales-type leases	The minimum future gross revenues to be received under the Company's non-cancellable direct financing leases as of December 31, 2017 , are as follows: Year ending December 31, (in thousands of $) 2018 98,630 2019 98,238 2020 97,591 2021 97,012 2022 89,714 Thereafter 435,580 Total minimum lease revenues 916,765

INVESTMENT IN ASSOCIATED COMP43

INVESTMENT IN ASSOCIATED COMPANIES (Tables)	12 Months Ended
	Dec. 31, 2017
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Percentage participation using the equity method of accounting	At December 31, 2017 , 2016 and 2015 , the Company had the following participation in investments that are recorded using the equity method: 2017 2016 2015 SFL Deepwater Ltd 100.00 % 100.00 % 100.00 % SFL Hercules Ltd 100.00 % 100.00 % 100.00 % SFL Linus Ltd 100.00 % 100.00 % 100.00 %
Summarized financial statement information of equity method investees	Summarized balance sheet information of the Company's equity method investees is as follows: As of December 31, 2017 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Current assets 97,723 26,242 29,152 42,329 Non-current assets 1,020,067 317,450 305,852 396,765 Total assets 1,117,790 343,692 335,004 439,094 Current liabilities 106,628 25,642 29,443 51,543 Non-current liabilities (1) 1,000,484 315,415 302,819 382,250 Total liabilities 1,107,112 341,057 332,262 433,793 Total shareholders' equity (2) 10,678 2,635 2,742 5,301 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) 1,109,961 343,426 335,603 430,932 Total liabilities 1,216,987 368,938 364,883 483,166 Total shareholders' equity (2) 130 54 30 46 (1) SFL Deepwater, SFL Hercules and SFL Linus non-current liabilities at December 31, 2017 , include $113.0 million ( 2016 : $119.2 million ), $80.0 million ( 2016 : $85.9 million ) and $121.0 million ( 2016 : $125.0 million ) due to Ship Finance, respectively (see Note 23: Related party transactions). In addition, SFL Deepwater, SFL Hercules and SFL Linus current liabilities at December 31, 2017 , include a further $0.2 million , $0.1 million and $3.6 million ( 2016 : $nil , $nil and $0.7 million ) due to Ship Finance (see Note 23: Related party transactions). (2) In the year ended December 31, 2017 , SFL Deepwater, SFL Hercules and SFL Linus paid dividends of $3.4 million ( 2016 : $46.3 million ; 2015 : $ nil ), $3.8 million ( 2016 : $25.1 million ; 2015 : $ nil ) and $7.3 million ( 2016 : $42.1 million ; 2015 : $ nil ), respectively. Summarized statement of operations information of the Company's wholly-owned equity method investees is shown below. Year ended December 31, 2017 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 73,487 20,873 21,827 30,787 Net operating revenues 73,487 20,873 21,827 30,787 Net income (3) 23,766 5,981 6,462 11,323 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 (3) 27,765 6,778 6,424 14,563 Year ended December 31, 2015 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Operating revenues 82,731 22,424 23,315 36,992 Net operating revenues 82,725 22,422 23,313 36,990 Net income (3) 31,001 7,561 7,306 16,134 (3) The net income of SFL Deepwater, SFL Hercules and SFL Linus for the year ended December 31, 2017 , includes interest payable to Ship Finance amounting to $5.4 million ( 2016 : $6.5 million ; 2015 : $6.5 million ), $4.3 million ( 2016 : $6.5 million ; 2015 : $6.5 million ), and $5.5 million ( 2016 : $5.6 million ; 2015 : $5.6 million ) respectively (see Note 23: Related party transactions). SF

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2017
Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities	(in thousands of $) 2017 2016 Vessel operating expenses 6,111 4,022 Administrative expenses 552 1,414 Interest expense 6,688 8,364 13,351 13,800

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	(in thousands of $) 2017 2016 Deferred and prepaid charter revenue 3,936 4,326 Obligations under capital leases - current portion 9,031 3,649 Employee taxes 18 151 Other items 1,739 756 14,724 8,882

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2017
Long-term Debt, by Current and Noncurrent [Abstract]
Schedule of long-term debt	(in thousands of $) 2017 2016 Long-term debt: Norwegian kroner 600 million senior unsecured floating rate bonds due 2017 — 65,445 3.25% senior unsecured convertible bonds due 2018 63,218 184,202 Norwegian kroner 900 million senior unsecured floating rate bonds due 2019 92,477 87,801 Norwegian kroner 500 million senior unsecured floating rate bonds due 2020 61,001 — 5.75% senior unsecured convertible bonds due 2021 225,000 225,000 U.S. dollar denominated floating rate debt due through 2023 1,081,204 1,017,558 Total debt principal 1,522,900 1,580,006 Less : unamortized debt issuance costs (18,893 ) (27,132 ) Less : current portion of long-term debt (313,823 ) (174,900 ) Total long-term debt 1,190,184 1,377,974
Schedule of maturities of debt	The outstanding debt as of December 31, 2017 , is repayable as follows: Year ending December 31, (in thousands of $) 2018 313,823 2019 267,102 2020 201,181 2021 467,512 2022 190,340 Thereafter 82,942 Total debt principal 1,522,900

OTHER LONG TERM LIABILITIES (Ta

OTHER LONG TERM LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Schedule of Other Long Term Liabilities	(in thousands of $) 2017 2016 Unamortized sellers' credit 3,958 6,124 Obligations under capital leases - long-term portion 230,576 118,754 Other items 4 4 234,538 124,882
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	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. Both vessels are accounted for as direct financing lease assets. The Company's future minimum lease obligations under the non-cancellable capital leases are as follows: Year ending December 31, (in thousands of $) 2018 26,289 2019 25,054 2020 25,122 2021 25,054 2022 25,054 Thereafter 281,850 Total lease obligations 408,423 Less: imputed interest payable (168,816 ) Present value of obligations under capital leases 239,607 Less: current portion (9,031 ) Obligations under capital leases - long-term portion 230,576 Interest incurred on capital leases was $16.0 million (2016: $0.2 million , 2015: $nil )

SHARE CAPITAL, ADDITIONAL PAI48

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Tables)	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Schedule of Share Capital	Authorized share capital is as follows: (in thousands of $, except share data) 2017 2016 150,000,000 common shares of $0.01 par value each (2016: 150,000,000 common 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) 2017 2016 110,930,873 common shares of $0.01 par value each (2016: 101,504,575 common shares of $0.01 par value each) 1,109 1,015

SHARE OPTION PLAN (Tables)

SHARE OPTION PLAN (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of share option transactions	The following summarizes share option transactions related to the Option Scheme in 2017 , 2016 and 2015 : 2017 2016 2015 Options Weighted average exercise price $ Options Weighted average exercise price $ Options Weighted average exercise price $ Options outstanding at beginning of year 279,000 13.03 125,000 12.56 189,000 13.17 Granted 113,000 14.30 279,000 14.38 — — Exercised (7,500 ) 11.78 (125,000 ) 12.11 (64,000 ) 10.55 Forfeited (15,000 ) 11.78 — — — — Options outstanding at end of year 369,500 12.20 279,000 13.03 125,000 12.56 Exercisable at end of year 85,500 11.43 — — 125,000 12.56

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Amounts due from and to related parties, excluding direct financing lease balances	The Consolidated Balance Sheets include the following amounts due from and to related parties, excluding direct financing lease balances (see Note 15: Investments in direct financing leases): (in thousands of $) 2017 2016 Amounts due from: Frontline Shipping — 11,906 Frontline 5,579 3,008 Deep Sea — 1,945 SFL Linus 3,559 660 SFL Deepwater 171 — SFL Hercules 97 — Golden Ocean 153 — Other related parties 66 — Total amount due from related parties 9,625 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 — 9,268 Total long-term receivables from related parties — 9,268 Amounts due to: Frontline Shipping 539 229 Frontline 147 493 Seatankers 60 79 Other related parties 111 49 Total amount due to related parties 857 850
Summary of leasing revenues earned from related parties	A summary of leasing revenues earned from the Frontline Charterers, Deep Sea, Golden Ocean and UFC is as follows: (in millions of $) 2017 2016 2015 Operating lease income 59.4 65.3 42.9 Direct financing lease interest income 16.4 22.9 34.2 Finance lease service revenue 35.0 44.5 46.5 Direct financing lease repayments 25.1 30.3 35.9 Profit sharing revenues 5.8 51.5 59.6

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair values of derivative instruments designated and not designated as cash flow hedges	The following tables present 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 $) 2017 2016 Designated derivative instruments -short-term assets: Interest rate swaps 108 110 Total derivative instruments - short-term assets 108 110 Designated derivative instruments -long-term assets: Interest rate swaps 5,136 4,540 Non-designated derivative instruments -long-term assets: Interest rate swaps 3,211 1,502 Total derivative instruments - long-term assets 8,347 6,042 (in thousands of $) 2017 2016 Designated derivative instruments -short-term liabilities: Interest rate swaps 248 — Cross currency interest rate swaps — 37,101 Non-designated derivative instruments -short-term liabilities: Interest rate swaps 255 — Cross currency interest rate swaps — 2,208 Total derivative instruments - short-term liabilities 503 39,309 Designated derivative instruments -long-term liabilities: Interest rate swaps 5,109 10,134 Cross currency interest rate swaps 36,120 41,716 Non-designated derivative instruments -long-term liabilities: Interest rate swaps 553 1,388 Cross currency interest rate swaps 6,836 8,218 Total derivative instruments - long-term liabilities 48,618 61,456
Schedule of interest rate swap transactions designated as hedges against specific loans	At December 31, 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 $25,588 (reducing to $24,794) March 2008 August 2018 4.05% - 4.15% $26,324 (reducing to $23,394) April 2011 December 2018 2.13% - 2.80% $38,985 (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% $133,400 (terminating at $79,733) May 2012 August 2022 1.76% - 1.85% $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 % * $100,938 (reducing to $70,125) December 2016 December 2021 2.29% - 2.63% $104,125 (reducing to $70,125) January 2017 January 2022 1.82% - 1.99% $29,120 (reducing to $19,413) September 2015 March 2022 1.67 % $187,031 (reducing to $149,844) February 2016 February 2021 1.07% - 1.26% $63,987 (equivalent to NOK500 million) October 2017 March - June 2020 6.86% - 6.96% * * These swaps relate to the NOK900 million and NOK500 million unsecured bonds due 2019 and 2020, 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.
Schedule of currency swap transactions	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 NOK900 million and NOK500 million senior unsecured bonds due 2019 and 2020, respectively. Principal Receivable Principal Payable Inception date Maturity date NOK900 million US$151.0 million March 2014 March 2019 NOK500 million US$64.0 million October 2017 March - June 2020
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 December 31, 2017 , and 2016 , are as follows: 2017 2017 2016 2016 (in thousands of $) Carrying value Fair value Carrying value Fair value Non-derivatives: Available-for-sale securities 93,802 93,802 118,489 118,489 Floating rate NOK bonds due 2017 — — 65,445 65,955 Floating rate NOK bonds due 2019 92,477 92,709 87,801 86,026 Floating rate NOK bonds due 2020 61,001 61,306 — — 3.25% unsecured convertible bonds due 2018 63,218 71,662 184,202 201,206 5.75% unsecured convertible bonds due 2021 225,000 242,719 225,000 224,366 Derivatives: Interest rate/ currency swap contracts – short-term receivables 108 108 110 110 Interest rate/ currency swap contracts – long-term receivables 8,347 8,347 6,042 6,042 Interest rate/ currency swap contracts – short-term payables 503 503 39,309 39,309 Interest rate/ currency swap contracts – long-term payables 48,618 48,618 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 December 31, 2017 , are measured as follows: Fair value measurements using December 31, 2017 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands of $) (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities 93,802 93,802 Interest rate/ currency swap contracts – short-term receivables 108 108 Interest rate/ currency swap contracts - long-term receivables 8,347 8,347 Total assets 102,257 93,802 8,455 — Liabilities: Floating rate NOK bonds due 2017 — — Floating rate NOK bonds due 2019 92,709 92,709 Floating rate NOK bonds due 2020 61,306 61,306 3.25% unsecured convertible bonds due 2018 71,662 71,662 5.75% unsecured convertible bonds due 2021 242,719 242,719 Interest rate/ currency swap contracts – short-term payables 503 503 Interest rate/ currency swap contracts – long-term payables 48,618 48,618 Total liabilities 517,517 468,396 49,121 — The above fair values of financial assets and liabilities as at December 31, 2016 , were measured as follows: Fair value measurements using December 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands of $) (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities 118,489 118,489 — Interest rate/ currency swap contracts – short-term receivables 110 110 Interest rate/ currency swap contracts – long-term receivables 6,042 6,042 Total assets 124,641 118,489 6,152 — Liabilities: Floating rate NOK bonds due 2017 65,955 65,955 Floating rate NOK bonds due 2019 86,026 86,026 3.25% unsecured convertible bonds due 2018 201,206 201,206 5.75% unsecured convertible bonds due 2021 224,366 224,366 Interest rate/ currency swap contracts – short-term payables 39,309 39,309 Interest rate/ currency swap contracts – long-term payables 61,456 61,456 Total liabilities 678,318 577,553 100,765 —

COMMITMENTS AND CONTINGENT LI52

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of assets pledged	Assets Pledged 2017 Book value of consolidated assets pledged under ship mortgages (see Note 19) $1,908 million

GENERAL (Details)

GENERAL (Details)	Dec. 31, 2017carriervesseldrilling_rigtanker	Dec. 31, 2016vessel	Oct. 31, 2015vessel
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of very large crude oil carriers owned	9
Number of Suezmax crude oil carriers owned	2
Number of Supramax drybulk carriers owned	5
Number of Handysize drybulk carriers owned	7
Number of Kamsarmax drybulk carriers owned	2
Number of Capesize drybulk carriers owned	8
Number of container vessels owned | vessel	22
Number of container vessels contracted to be chartered in | vessel	2	1	2
Number of car carriers	2
Number of jack-up drilling rigs owned | drilling_rig	2
Number of ultra-deepwater drilling units owned by wholly-owned subsidiaries accounted for using the equity method | drilling_rig	2
Number of offshore supply vessels owned | vessel	5
Number of chemical tankers owned | tanker	2
Number of oil product tankers contracted to be acquired | tanker	2
Number of jack-up drilling rigs owned by wholly-owned subsidiaries account for using the equity method | drilling_rig	1

ACCOUNTING POLICIES (Related Pa

ACCOUNTING POLICIES (Related Party) (Details) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended			42 Months Ended
	Jan. 31, 2012	Jun. 30, 2015	Dec. 31, 2017	Dec. 31, 2015	Dec. 31, 2011	Jun. 30, 2015
Related Party Transaction [Line Items]
Profit sharing percent of earnings from Frontline from July 1 2015 onwards			50.00%
Frontline Charterers [Member]
Related Party Transaction [Line Items]
Profit Sharing Agreement, Term			3 years 6 months
Increase profit sharing percentage of earnings from Frontline for use of fleet (in hundredths)						25.00%
Compensation payment received				$ 150,200,000	$ 106,000,000
Non-refundable advance relating to the profit sharing agreement					$ 50,000,000
Period of temporary reduction in daily time charter rates	4 years
Agreed Temporary Reduction in Daily Time Charter Rates		$ 6,500
Maximum daily amount to which temporary earnings-related 100% payment applies		$ 6,500

ACCOUNTING POLICIES (Details)

ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2017USD ($)vesseldrilling_rig	Dec. 31, 2016USD ($)vessel	Oct. 31, 2015vessel
Accounting Policies [Abstract]
Number of ultra deepwater drilling units owned | drilling_rig	2
Number of wholly-owned subsidiaries that own drilling rigs | vessel	3
Number of jack-up drilling rigs owned by wholly-owned subsidiaries account for using the equity method | drilling_rig	1
Property, Plant and Equipment [Line Items]
Number of container vessels contracted to be chartered in | vessel	2	1	2
Allowance for Doubtful Accounts Receivable | $	$ 0	$ 0
Offshore vessels and rigs [Member]
Property, Plant and Equipment [Line Items]
Estimated economic useful life (in years)	30 years
Other Capitalized Property Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated economic useful life (in years)	25 years
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation, rate	20.00%

ACCOUNTING POLICIES Trade Accou

ACCOUNTING POLICIES Trade Accounts Receivable (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Allowance for Doubtful Accounts Receivable	$ 0	$ 0

RECENTLY ISSUED ACCOUNTING ST57

RECENTLY ISSUED ACCOUNTING STANDARDS Recently Issued Accounting Standards (Details) $ in Millions	Dec. 31, 2017USD ($)
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Impact of Restatement on Opening Retained Earnings, before Tax	$ 100.4

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	12 Months Ended
	Dec. 31, 2017segment
Segment Reporting [Abstract]
Number of reportable segments	1

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Basic earnings per share (in dollars per share)	$ 1.06	$ 1.57	$ 2.15
Basic earnings per share:
Net income available to stockholders	$ 101,209	$ 146,406	$ 200,832
Diluted earnings per share:
Interest on Convertible Debt, Net of Tax	4,511	15,310	22,449
Net income available to stockholders, diluted	$ 105,720	$ 161,716	$ 223,281
Basic earnings per share:
Weighted average number of common shares outstanding	95,597	93,497	93,450
Diluted earnings per share:
Weighted average number of common shares outstanding	95,597	93,497	93,450
Effect of dilutive share options	26	0	23
Effect of dilutive convertible bonds	7,277	14,543	25,535
Weighted average number of diluted common shares outstanding	102,900	108,040	119,008
Diluted earnings per share (in dollars per share)	$ 1.03	$ 1.50	$ 1.88

EARNINGS PER SHARE (Narrative)

EARNINGS PER SHARE (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Oct. 05, 2016	Jan. 31, 2013	Feb. 10, 2011
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Long-term debt		$ 1,522,900	$ 1,580,006
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]
Shares issued on conversion of convertible debt		60.0416		56.2596
Interest rate				5.75%
3.75% Senior Unsecured Convertible Bonds Due 2016 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate						3.75%
US dollar 350 Million Senior Unsecured Convertible Bonds Due 2018 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate					3.25%
Senior Unsecured Convertible Bonds Due 2018 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Long-term debt			$ 184,202
Senior Unsecured Convertible Bonds Due 2018 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issued on conversion of convertible debt		9,418,798
Long-term debt		$ 63,218
Debt Conversion, Converted Instrument, Amount		$ 121,000

OPERATING LEASES (Details)

OPERATING LEASES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Minimum future revenues to be received under non-cancelable operating leases [Abstract]
2,018	$ 225,822
2,019	199,174
2,020	181,678
2,021	133,495
2,022	61,720
Thereafter	117,526
Total minimum lease revenues	919,415
Cost and accumulated depreciation of vessels leased on operating leases [Abstract]
Cost	2,256,747	$ 2,154,994
Accumulated depreciation	494,151	417,825
Vessels and equipment, net	$ 1,762,596	$ 1,737,169

GAIN_(LOSS) ON SALE OF ASSETS62

GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Summary) (Details) - USD ($) $ in Thousands	1 Months Ended					12 Months Ended
	Aug. 31, 2017	Jun. 30, 2017	May 31, 2017	Apr. 30, 2017	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
(Loss)/gain on sale of vessels						$ (1,699)	$ (167)	$ 7,364
Gain on termination of charters						2,823	0	0
Total gain/(loss) on sale of assets and termination of charters	$ 300	$ (1,100)	$ (1,700)	$ 700	$ (26)	$ 1,124	$ (167)	$ 7,364
MSC Alice [Member]
Property, Plant and Equipment [Line Items]
Term of time charter						5 years

GAIN_(LOSS) ON SALE OF ASSETS63

GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Gain on Sale of Vessels) (Details) $ in Thousands	1 Months Ended					12 Months Ended
	Aug. 31, 2017USD ($)	Jun. 30, 2017USD ($)	May 31, 2017USD ($)	Apr. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)vessel	Dec. 31, 2016USD ($)vessel	Dec. 31, 2015USD ($)	Feb. 29, 2016vessel
Property, Plant and Equipment [Line Items]
Gain on termination of charters | $						$ 2,823	$ 0	$ 0
Gain/(Loss) | $						(1,699)	(167)	7,364
Gain (Loss) On Disposition of Assets and Termination of Charters | $	$ 300	$ (1,100)	$ (1,700)	$ 700	$ (26)	$ 1,124	$ (167)	$ 7,364
Number of vessels sold									1
Crude Oil Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels sold						4
Double-hull Very Large Crude Carriers (VLCC) [Member]
Property, Plant and Equipment [Line Items]
Number of vessels sold							1
Sale of offshore support vessel Sea Bear [Member]
Property, Plant and Equipment [Line Items]
Number of vessels sold							1
Container vessels [Member]
Property, Plant and Equipment [Line Items]
Number of vessels sold							5
Suezmax Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels sold							3

GAIN_(LOSS) ON SALE OF ASSETS64

GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Gain on Termination of Charters) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
(Loss)/gain on sale of vessels		$ (1,699)	$ (167)	$ 7,364
Notes Compensation Received on Termination of Charters, Face Value	$ 6,000
Compensation received on termination of charters, notes receivable	$ 2,800
Total compensation received on termination of charters		$ 2,823	$ 0	$ 0
Apexindo [Member]
Property, Plant and Equipment [Line Items]
Debt Instrument, Term		6 years

GAIN ON SALE OF LOAN NOTES AN65

GAIN ON SALE OF LOAN NOTES AND SHARE WARRANTS - OTHER (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Gain (Loss) on Investments [Line Items]
Proceeds from redemption of Horizon loan notes and warrants	$ 71,700	$ 0	$ 0	$ 71,681
Available-for-sale securities		93,802	118,489
Gain on sale of loan notes and share warrants - other	44,600	$ 0	$ 0	$ 44,552
Impaired Investment 2 [Member]
Gain (Loss) on Investments [Line Items]
Investments	1,200
Unlisted Securities [Member]
Gain (Loss) on Investments [Line Items]
Available-for-sale securities	$ 25,900

OTHER FINANCIAL ITEMS (Details)

OTHER FINANCIAL ITEMS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Income and Expenses [Abstract]
Net cash payments on non-designated derivatives	$ (5,124)	$ (4,913)	$ (6,453)
Net increase/(decrease) in fair value of non-designated derivatives	8,068	3,917	(13,051)
Net increase/(decrease) in fair value of designated derivatives (ineffective portion)	140	482	(227)
Other items	(5,768)	(1,575)	(1,558)
Total other financial items	(2,684)	(2,089)	(21,289)
Loss on derivative instrument reclassified from other comprehensive income		0	(1,300)
Gain on foreign currency translation	$ 4,500	$ 146	$ 53

AVAILABLE FOR SALE SECURITIES67

AVAILABLE FOR SALE SECURITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 194,184	$ 197,449
Accumulated net unrealized (loss)/gain	(100,382)	(78,960)	$ 14,446
Carrying value	93,802	118,489
Available-for-sale securities impairment charge	4,410	0	20,552
Unrealized loss from available-for-sale securities reclassified to Consolidated Statement of Operations	2,106	0	$ 20,552
Corporate Bond Securities_Golden Close Senior [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	17,754	28,676
Accumulated net unrealized (loss)/gain	(2,240)	(5,495)
Carrying value	15,514	23,181
Coporate Bond Securities_Golden Close Convertible [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	9,960	0
Accumulated net unrealized (loss)/gain	0	0
Carrying value	9,960	0
Corproate Bond Securities_Golden Close Super Senior [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	2,561	0
Accumulated net unrealized (loss)/gain	347	0
Carrying value	2,908	0
Corporate Bond Securities_NorAm Drilling [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	5,181	5,181
Accumulated net unrealized (loss)/gain	293	(245)
Carrying value	5,474	4,936
Corporate Bond Securities_Oro Negro [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	7,886	12,894
Accumulated net unrealized (loss)/gain	0	(2,106)
Carrying value	7,886	10,788
Common stock - Frontline Ltd [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	150,004	150,004
Accumulated net unrealized (loss)/gain	(99,514)	(71,794)
Carrying value	50,490	78,210
Common stock - NorAm Drilling [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	730	694
Accumulated net unrealized (loss)/gain	732	680
Carrying value	1,462	1,374
Common Stock, Golden Close [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	108	0
Accumulated net unrealized (loss)/gain	0	0
Carrying value	108	0
Available-for-sale securities impairment charge	600
Corporate Bond Securities- Golden Close [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities impairment charge	3,900
Listed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Carrying value	41,700	38,900
Corporate Bond Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	43,342	46,751
Accumulated net unrealized (loss)/gain	(1,600)	(7,846)
Carrying value	41,742	38,905
Common Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	150,842	150,698
Accumulated net unrealized (loss)/gain	(98,782)	(71,114)
Carrying value	$ 52,060	$ 79,584

TRADE ACCOUNTS RECEIVABLE AND68

TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Allowance for doubtful accounts, trade receivables	$ 0	$ 0
Allowance for doubtful other receivables	$ 0	$ 0

VESSELS AND EQUIPMENT, NET (Sch

VESSELS AND EQUIPMENT, NET (Schedule of Vessels and Equipment) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)vessel	Dec. 31, 2016USD ($)
Property, Plant and Equipment [Abstract]
Number of vessels transferred from operating lease assets to sales type assets | vessel	1
Cost	$ 2,256,747	$ 2,154,994
Accumulated depreciation	494,151	417,825
Vessels and equipment, net	$ 1,762,596	$ 1,737,169

VESSELS AND EQUIPMENT, NET (Det

VESSELS AND EQUIPMENT, NET (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)vesselcontract	Dec. 31, 2016USD ($)containershipcontract	Dec. 31, 2015USD ($)containership
Property Subject to or Available for Operating Lease [Line Items]
Property, Plant and Equipment, Net	$ 2,300
Number of Newbuilding Contracts | contract	0	2
Number of newbuilding container vessels delivered | containership		2
Cost of newbuilding container vessels delivered	$ 115,100	$ 195,000
Number of vessels transferred from operating lease assets to sales type assets | vessel	1
Vessel impairment charge	$ 0	$ 5,314	$ 42,410
Number of container vessels impaired | containership		1
Depreciation	88,150	$ 94,293	78,080
Property Subject to Operating Lease [Member]
Property Subject to or Available for Operating Lease [Line Items]
Vessel impairment charge	$ 0	$ 4,800	$ 29,200
Number of container vessels impaired | containership			2
Product Tankers [Member]
Property Subject to or Available for Operating Lease [Line Items]
Number Of Vessels Delivered | contract	2

NEWBUILDINGS (Details)

NEWBUILDINGS (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)tankercontract	Dec. 31, 2016USD ($)contract	Dec. 31, 2015USD ($)
NEWBUILDINGS [Abstract]
Interest capitalized in the cost of newbuildings	$ 1.2	$ 1.2	$ 0.4
Number of newbuilding contracts | contract	0	2
Number of oil product tankers contracted to be acquired | tanker	2
Accumulated costs of newbuildings		$ 33.4

INVESTMENTS IN DIRECT FINANCI72

INVESTMENTS IN DIRECT FINANCING LEASES (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2015vessel	Dec. 31, 2017USD ($)vessel	Dec. 31, 2016USD ($)vessel	Dec. 31, 2015USD ($)
Investment in Direct Financing Leases (Details)
Number of VLCCs and Suezmaxes Chartered | vessel			12
Term of charters, minimum (in years)		4 years
Term of charters, maximum (in years)		9 years
Vessel impairment charge		$ 0	$ 5,314	$ 42,410
Number of offshore supply vessels chartered on long-term bareboat charters | vessel		1
Assets accounted for as direct financing leases and leased to related parties | vessel		10	13
Number of container vessels contracted to be chartered in | vessel	2	2	1
Assets accounted for as sales-type lease | vessel		1	0
Term of lease or charter	15 years
Capital Leases, Net Investment in Direct Financing and Sales Type Leases		$ 618,071	$ 556,035
Total minimum lease payments to be received		916,765	862,083
Minimum future lease revenues to be received [Abstract]
2,018		98,630
2,019		98,238
2,020		97,591
2,021		97,012
2,022		89,714
Thereafter		435,580
Total minimum lease revenues		916,765
Property subject to direct financing leases [Member]
Investment in Direct Financing Leases (Details)
Vessel impairment charge			500
Container vessels contracted in subject to direct financing leases [Member]
Investment in Direct Financing Leases (Details)
Total minimum lease payments to be received		432,200	229,700
Container vessels contracted in subject to direct financing leases [Member] | MSC Anna [Member]
Investment in Direct Financing Leases (Details)
Capital Leases, Net Investment in Direct Financing and Sales Type Leases		141,600	144,900
Container vessels contracted in subject to direct financing leases [Member] | MSC Viviana [Member]
Investment in Direct Financing Leases (Details)
Capital Leases, Net Investment in Direct Financing and Sales Type Leases		$ 142,400	$ 0
Maximum [Member]
Investment in Direct Financing Leases (Details)
Term of lease or charter		15 years
Minimum [Member]
Investment in Direct Financing Leases (Details)
Term of lease or charter		5 years

INVESTMENTS IN DIRECT FINANCI73

INVESTMENTS IN DIRECT FINANCING LEASES (Components of Investments in Direct Financing and Sales-type Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Net Investment in Direct Financing and Sales Type Leases [Abstract]
Total minimum lease payments to be received	$ 916,765	$ 862,083
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	(211,508)	(287,168)
Net minimum lease payments receivable	705,257	574,915
Estimated residual values of leased property (un-guaranteed)	232,424	213,901
Less: unearned income	(319,610)	(232,781)
Total investment in direct financing leases	618,071	556,035
Current portion	32,096	32,220
Long-term portion	$ 585,975	$ 523,815

INVESTMENTS IN DIRECT FINANCI74

INVESTMENTS IN DIRECT FINANCING LEASES - Related Party Transactions (Details)	12 Months Ended
	Dec. 31, 2017USD ($)vessel	Dec. 31, 2016vessel	Jun. 30, 2015USD ($)
Related Party Transaction [Line Items]
Capital Leases, Future Minimum Payments Receivable	$ 916,765,000
Number of VLCCs and Suezmaxes Chartered | vessel		12
Frontline Charterers [Member]
Related Party Transaction [Line Items]
Capital Leases, Future Minimum Payments Receivable	$ 463,800,000
Number of VLCCs and Suezmaxes Chartered | vessel	9
Cash reserve per vessel			$ 2,000,000
Frontline Management [Member] | Vessels Leased to Frontline Charterers [Member]
Related Party Transaction [Line Items]
Related Party Transactions Daily Vessel Management Fee	$ 9,000

INVESTMENT IN ASSOCIATED COMP75

INVESTMENT IN ASSOCIATED COMPANIES (Details) shares in Millions		1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
		Oct. 31, 2013USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2015Rateshares	Dec. 31, 2017USD ($)drilling_rig	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)		Sep. 30, 2017	Nov. 30, 2015Rate	May 31, 2013USD ($)	Dec. 31, 2008vessel
Schedule of Equity Method Investments [Line Items]
Number of shares received | shares				55
Equity in earnings of associated companies					$ 23,766,000	$ 27,765,000	$ 33,605,000
Term loan facility, amount outstanding					1,522,900,000	1,580,006,000
Summarized balance sheet information [Abstract]
Due to related parties					857,000	850,000
Statement of operations information [Abstract]
Proportion of secured bank lenders in restructuring agreement with Seadrill Limited									97.00%
Proportion of bondholders in restructuring agreement with Seadrill Limited									40.00%
Frontline Ltd [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage | Rate				27.73%						7.03%
Equity in earnings of associated companies					$ 0	0	2,600,000
Proceeds from equity method investment dividends			$ 2,800,000
SFL Deepwater, SFL Hercules, SFL Linus [Member]
Statement of operations information [Abstract]
Number Of Drilling Units | drilling_rig					3
SFL Deepwater [Member]
Schedule of Equity Method Investments [Line Items]
Proceeds from equity method investment dividends					$ 3,400,000	$ 46,300,000	$ 0
Participation in equity method investee (in hundredths)					100.00%	100.00%	100.00%
Debt amount		$ 390,000,000
Term loan facility, term		5 years
Term loan facility, extension term					4 years
Term loan facility, amount guaranteed					$ 75,000,000	$ 75,000,000
Lease Agreement, Extension Term					13 months
Term loan facility, amount outstanding					$ 225,800,000	248,400,000
Number of main assets subject of leases which includes both fixed price call options and fixed price purchase obligations					1							2
Available amount under revolving part of credit facility					$ 0	0
Summarized balance sheet information [Abstract]
Current assets					26,242,000	33,763,000
Non-current assets					317,450,000	335,229,000
Total assets					343,692,000	368,992,000
Current liabilities					25,642,000	25,512,000
Non-current liabilities	[1]				315,415,000	343,426,000
Total liabilities					341,057,000	368,938,000
Total shareholders' equity (2)					2,635,000	54,000
Due to parent					113,000,000	119,200,000
Due to related parties					200,000
Statement of operations information [Abstract]
Operating revenues					20,873,000	22,088,000	$ 22,424,000
Net operating revenues					20,873,000	22,088,000	22,422,000
Net income					5,981,000	6,778,000	7,561,000	[2]
Interest payable to parent					5,400,000	6,500,000	6,500,000
SFL Hercules [Member]
Schedule of Equity Method Investments [Line Items]
Proceeds from equity method investment dividends					$ 3,800,000	$ 25,100,000	$ 0
Participation in equity method investee (in hundredths)					100.00%	100.00%	100.00%
Debt amount											$ 375,000,000
Term loan facility, term		6 years
Term loan facility, extension term					4 years
Term loan facility, amount guaranteed					$ 70,000,000	$ 75,000,000
Lease Agreement, Extension Term					13 months
Term loan facility, amount outstanding					$ 251,300,000	278,700,000
Available amount under revolving part of credit facility					0	0
Summarized balance sheet information [Abstract]
Current assets					29,152,000	38,351,000
Non-current assets					305,852,000	326,562,000
Total assets					335,004,000	364,913,000
Current liabilities					29,443,000	29,280,000
Non-current liabilities	[1]				302,819,000	335,603,000
Total liabilities					332,262,000	364,883,000
Total shareholders' equity (2)					2,742,000	30,000
Due to parent					80,000,000	85,900,000
Due to related parties					100,000
Statement of operations information [Abstract]
Operating revenues					21,827,000	23,292,000	$ 23,315,000
Net operating revenues					21,827,000	23,292,000	23,313,000
Net income					6,462,000	6,424,000	7,306,000
Interest payable to parent					4,300,000	6,500,000	6,500,000
SFL Linus [Member]
Schedule of Equity Method Investments [Line Items]
Proceeds from equity method investment dividends					$ 7,300,000	$ 42,100,000	$ 0
Participation in equity method investee (in hundredths)					100.00%	100.00%	100.00%
Debt amount		$ 475,000,000
Term loan facility, term		5 years
Term loan facility, extension term					4 years
Term loan facility, amount guaranteed					$ 90,000,000	$ 90,000,000
Term loan facility, amount outstanding					308,800,000	356,300,000
Available amount under revolving part of credit facility					0	0
Summarized balance sheet information [Abstract]
Current assets					42,329,000	50,561,000
Non-current assets					396,765,000	432,651,000
Total assets					439,094,000	483,212,000
Current liabilities					51,543,000	52,234,000
Non-current liabilities	[1]				382,250,000	430,932,000
Total liabilities					433,793,000	483,166,000
Total shareholders' equity (2)					5,301,000	46,000
Due to parent					121,000,000	125,000,000
Due to related parties					3,600,000	700,000
Statement of operations information [Abstract]
Operating revenues					30,787,000	34,889,000	$ 36,992,000
Net operating revenues					30,787,000	34,889,000	36,990,000
Net income					11,323,000	14,563,000	16,134,000
Interest payable to parent					5,500,000	5,600,000	5,600,000
Total [Member]
Summarized balance sheet information [Abstract]
Current assets					97,723,000	122,675,000
Non-current assets					1,020,067,000	1,094,442,000
Total assets					1,117,790,000	1,217,117,000
Current liabilities					106,628,000	107,026,000
Non-current liabilities	[1]				1,000,484,000	1,109,961,000
Total liabilities					1,107,112,000	1,216,987,000
Total shareholders' equity (2)					10,678,000	130,000
Statement of operations information [Abstract]
Operating revenues					73,487,000	80,269,000	82,731,000
Net operating revenues					73,487,000	80,269,000	82,725,000
Net income					$ 23,766,000	$ 27,765,000	$ 31,001,000	[2]
[1]	SFL Deepwater, SFL Hercules and SFL Linus non-current liabilities at December 31, 2017, include $113.0 million (2016: $119.2 million), $80.0 million (2016: $85.9 million) and $121.0 million (2016: $125.0 million) due to Ship Finance, respectively (see Note 23: Related party transactions). In addition, SFL Deepwater, SFL Hercules and SFL Linus current liabilities at December 31, 2017, include a further $0.2 million, $0.1 million and $3.6 million (2016: $nil, $nil and $0.7 million) due to Ship Finance (see Note 23: Related party transactions).
[2]	net income of SFL Deepwater, SFL Hercules and SFL Linus for the year ended December 31, 2017, includes interest payable to Ship Finance amounting to $5.4 million (2016: $6.5 million; 2015: $6.5 million), $4.3 million (2016: $6.5 million; 2015: $6.5 million), and $5.5 million (2016: $5.6 million; 2015: $5.6 million) respectively (see Note 23: Related party transactions).SF

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accrued Liabilities [Abstract]
Vessel operating expenses	$ 6,111	$ 4,022
Administrative expenses	552	1,414
Interest expense	6,688	8,364
Accrued expenses	$ 13,351	$ 13,800

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Deferred and prepaid charter revenue	$ 3,936	$ 4,326
Capital Lease Obligations, Current	9,031	3,649
Employee taxes	18	151
Other items	1,739	756
Other current liabilities	$ 14,724	$ 8,882

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details)	Jan. 30, 2013	Aug. 31, 2017USD ($)carriersubsidiary	Jul. 31, 2017NOK (kr)	Jun. 30, 2017	Oct. 31, 2016USD ($)	Nov. 30, 2015USD ($)carriersubsidiary	Jul. 31, 2015USD ($)carriersubsidiary	Jun. 30, 2015USD ($)carriersubsidiarycontainership	Dec. 31, 2014subsidiary	Nov. 30, 2014USD ($)subsidiarycontainership	Sep. 30, 2014USD ($)subsidiarycontainership	Aug. 31, 2014USD ($)vesselsubsidiary	Jun. 30, 2014USD ($)subsidiary	Mar. 31, 2014	Jan. 31, 2013USD ($)$ / sharesshares	Nov. 30, 2012USD ($)carriersubsidiary	Oct. 31, 2012NOK (kr)	May 31, 2011USD ($)vesselsubsidiary	Mar. 31, 2011USD ($)carrier	Nov. 30, 2010USD ($)carriersubsidiary	Mar. 31, 2010USD ($)	Feb. 28, 2010USD ($)	Mar. 31, 2008USD ($)tankersubsidiary	Dec. 31, 2016USD ($)carrier	Dec. 31, 2017USD ($)carriervessel$ / sharesshares	Dec. 31, 2017NOK (kr)carrier	Dec. 31, 2016USD ($)carrier	Dec. 31, 2016NOK (kr)	Dec. 31, 2015USD ($)	Dec. 31, 2017NOK (kr)carriervesselshares	Oct. 31, 2017NOK (kr)	Jun. 22, 2017NOK (kr)	Dec. 31, 2016NOK (kr)carrier	Nov. 30, 2016USD ($)shares	Oct. 05, 2016USD ($)$ / sharesshares	Feb. 29, 2016vessel	Dec. 30, 2014USD ($)	Mar. 19, 2014NOK (kr)	Feb. 10, 2011
Debt Instrument [Line Items]
Long-term debt																								$ 1,580,006,000	$ 1,522,900,000		$ 1,580,006,000
Less: unamortized debt issuance costs																								(27,132,000)	(18,893,000)		(27,132,000)
Less : current portion of long-term debt																								(174,900,000)	(313,823,000)		(174,900,000)
Total long-term debt, non-current portion																								1,377,974,000	1,190,184,000		1,377,974,000
Long-term Debt, by Maturity [Abstract]
2,017																									313,823,000
2,018																									267,102,000
2,019																									201,181,000
2,020																									467,512,000
2,021																									190,340,000
Thereafter																									82,942,000
Long-term debt																								$ 1,580,006,000	$ 1,522,900,000		$ 1,580,006,000
Three month dollar LIBOR rate (in hundredths)																								0.998%	1.694%		0.998%			1.694%			0.998%
Three month Norwegian kroner NIBOR rate (in hundredths)																								1.17%	0.81%		1.17%			0.81%			1.17%
Share Price | $ / shares																									$ 15.50
Gain (Loss) on Extinguishment of Debt																									$ (2,305,000)		$ (8,802,000)		$ 1,007,000
Equity component of convertible bond issuance due 2021															$ 20,700,000										$ 120,695,000		(3,966,000)		0
Number of car carriers | carrier																									2					2
Number of vessels sold | vessel																																				1
Book value of assets pledged under ship mortgages																								$ 2,009,000,000	$ 1,908,000,000		2,009,000,000
Senior Unsecured Convertible Bonds Due 2018 [Member]
Debt Instrument [Line Items]
Long-term debt																									63,218,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																									63,218,000
Debt Conversion, Converted Instrument, Amount																									$ 121,000,000
Shares issued on conversion of convertible debt | shares																									9,418,798					9,418,798
US Dollar 53.2 Million Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Long-term debt																								35,500,000	$ 0		35,500,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								35,500,000	0		35,500,000
Term loan facility, principal amount																$ 53,200,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary																2
Debt Instrument, Term																5 years
Number of car carriers | carrier																2
US Dollar 45 million secured term loan facility [Member]
Debt Instrument [Line Items]
Long-term debt																								36,000,000	36,000,000		36,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								36,000,000	36,000,000		36,000,000
Term loan facility, principal amount													$ 45,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary													7
Debt Instrument, Term													5 years
Number of container vessels | containership								7
US dollar 350 Million Senior Unsecured Convertible Bonds Due 2018 [Member]
Debt Instrument [Line Items]
Premium of Convertible Debt if Converted at Balance Sheet Date																									$ 10,800,000
Long-term Debt, by Maturity [Abstract]
Interest rate															3.25%
Maturity date of debt	Feb. 1, 2018
Term loan facility, principal amount															$ 350,000,000
Conversion price (in dollars per share) | $ / shares															$ 21.945										$ 13.2418
Common Stock, Conversion Basis																									4,774,124	4,774,124
Premium of conversion price to share price															33.00%
Amount of debt repurchased | kr																												kr 165,800,000
Gain (Loss) on Extinguishment of Debt																								(1,500,000)			(8,800,000)		$ 0
Common shares loaned to affiliate | shares															6,060,606
Debt Instrument, Related Party Share Loan Fee															$ 1,000,000
Write off of Deferred Debt Issuance Cost | kr																										kr 16,400,000		8,500,000
NOK 900 Million Senior Unsecured Bonds [Member]
Debt Instrument [Line Items]
Long-term debt																								87,801,000	$ 92,500,000		87,801,000			kr 758,000,000			kr 758,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								87,801,000	92,500,000		87,801,000			758,000,000			758,000,000
Maturity date of debt														Mar. 19, 2019
Term loan facility, principal amount | kr																																						kr 900,000,000
Amount of debt repurchased | kr																										kr 142,000,000		142,000,000
Redemption price of debt (in hundredths)																																						100.50%
NOK500million senior unsecured floating rate bonds due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt																								0	61,001,000		0			500,000,000			0
Long-term Debt, by Maturity [Abstract]
Long-term debt																								0	$ 61,001,000		0			kr 500,000,000			0
Maturity date of debt				Jun. 22, 2020																					Jun. 22, 2020	Jun. 22, 2020
Term loan facility, principal amount | kr																															kr 500,000,000	kr 500,000,000
Senior Unsecured Convertible Bonds due 2021 [Member]
Debt Instrument [Line Items]
Premium of Convertible Debt if Converted at Balance Sheet Date																									$ 15,600,000
Long-term Debt, by Maturity [Abstract]
Interest rate																																			5.75%
Maturity date of debt					Oct. 15, 2021
Term loan facility, principal amount																																			$ 225,000,000
Conversion price (in dollars per share) | $ / shares																									$ 16.6561										$ 17.7747
Common Stock, Conversion Basis																									13,509,360	13,509,360
Debt Instrument, Related Party Share Loan Fee																																		$ 80,000	$ 120,000
Equity component of convertible bond issuance due 2021					$ 4,600,000
Amortization of deferred charges																									$ 900,000		200,000
Shares issued on conversion of convertible debt | shares																									60.0416					60.0416					56.2596
Denomination of unsecured corporate bond																																			$ 1,000
Minimum dividend before convertible debt rate is adjusted | $ / shares																																			$ 0.225
Own-share Lending Arrangement, Shares, Outstanding | shares																																			8,000,000
Common Stock, Shares Loaned to Affiliate (in shares) | shares																																		8,000,000
3.75% Senior Unsecured Convertible Bonds Due 2016 [Member]
Long-term Debt, by Maturity [Abstract]
Interest rate																																							3.75%
NOK 600 million senior unsecured floating rate bonds due 2017 [Member]
Debt Instrument [Line Items]
Long-term debt																								65,445,000	$ 0		65,445,000						565,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								65,445,000	0		65,445,000						kr 565,000,000
Maturity date of debt																	Oct. 19, 2017
Term loan facility, principal amount | kr																	kr 600,000,000
Amount of debt repurchased | kr			kr 146,000,000																									kr 454,000,000
Redemption price of debt (in hundredths)																	100.50%
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
Floating Rate Debt [Member]
Debt Instrument [Line Items]
Long-term debt																								1,017,558,000	1,081,204,000		1,017,558,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								$ 1,017,558,000	$ 1,081,204,000		$ 1,017,558,000
Weighted average interest rate (in hundredths)																								4.20%	4.26%		4.20%			4.26%			4.20%
Number of vessels sold | vessel																																				1
Floating Rate Debt [Member] | US$ 49 million secured term loan and revolving credit facility [Member]
Debt Instrument [Line Items]
Long-term debt																								$ 0	$ 0		$ 0
Long-term Debt, by Maturity [Abstract]
Long-term debt																								0	0		0
Term loan facility, principal amount																							$ 49,000,000
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 | tanker																							2
Term of loan in years																							10 years
Available amount under revolving part of credit facility																								20,000,000	20,000,000		20,000,000
Floating Rate Debt [Member] | US$ 43 million secured term loan facility (February 2010) [Member]
Debt Instrument [Line Items]
Long-term debt																								23,400,000	20,600,000		23,400,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								23,400,000	20,600,000		23,400,000
Term loan facility, principal amount																						$ 42,600,000
Term of loan in years																						5 years
Floating Rate Debt [Member] | US$ 43 million secured term loan facility (March 2010) [Member]
Debt Instrument [Line Items]
Long-term debt																								23,400,000	20,600,000		23,400,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								23,400,000	20,600,000		23,400,000
Term loan facility, principal amount																					$ 42,600,000
Term of loan in years																					5 years
Floating Rate Debt [Member] | US$ 54 million secured term loan facility [Member]
Debt Instrument [Line Items]
Long-term debt																								30,200,000	26,300,000		30,200,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								30,200,000	26,300,000		30,200,000
Term loan facility, principal amount																				$ 53,700,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary																				2
Number of vessels against which loan was secured | carrier																				2
Debt Instrument, Term																				8 years
Floating Rate Debt [Member] | US$ 75 million secured term loan facility [Member]
Debt Instrument [Line Items]
Long-term debt																								44,900,000	39,000,000		44,900,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								44,900,000	39,000,000		44,900,000
Term loan facility, principal amount																			$ 75,400,000
Term of loan in years																			8 years
Number of vessels against which loan was secured | carrier																			3
Floating Rate Debt [Member] | US$ 171 million secured term loan facility [Member]
Debt Instrument [Line Items]
Long-term debt																								110,100,000	98,000,000		110,100,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								110,100,000	98,000,000		110,100,000
Term loan facility, principal amount																		$ 171,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary																		8
Term of loan in years																		10 years
Number of vessels against which loan was secured | vessel																		7
Floating Rate Debt [Member] | US Dollar 45 million secured term loan facility [Member]
Long-term Debt, by Maturity [Abstract]
Available amount under revolving part of credit facility																								9,000,000	9,000,000		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	44,100,000		54,700,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								54,700,000	$ 44,100,000		54,700,000
Term loan facility, principal amount												$ 101,400,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary												6
Debt Instrument, Term												5 years
Number of offshore supply vessels | vessel												6
Number of remaining vessels relating to loan facility | vessel																									5					5
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		20,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								20,000,000	20,000,000		20,000,000
Term loan facility, principal amount											$ 20,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary											2
Debt Instrument, 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																								109,400,000	100,900,000		109,400,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								109,400,000	100,900,000		109,400,000
Term loan facility, principal amount											$ 127,500,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary											2
Debt Instrument, 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																								112,600,000	104,100,000		112,600,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								112,600,000	104,100,000		112,600,000
Term loan facility, principal amount										$ 127,500,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary										2
Debt Instrument, Term										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																								31,500,000	29,100,000		31,500,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								$ 31,500,000	29,100,000		$ 31,500,000
Term loan facility, principal amount																																					$ 39,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary									2
Debt Instrument, Term									8 years
Number of drybulk carriers | carrier																								2			2						2
Floating Rate Debt [Member] | US dollar 250 million secured revolving credit facility [Member]
Debt Instrument [Line Items]
Long-term debt																								$ 40,000,000	149,000,000		$ 40,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								40,000,000	149,000,000		40,000,000
Term loan facility, principal amount								$ 250,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary								17
Available amount under revolving part of credit facility																								175,600,000	$ 0		175,600,000
Number of vessels against which loan was secured | carrier								17
Debt Instrument, Term								3 years
Number of vessels sold | carrier																									8					8
Number of remaining vessels relating to loan facility | carrier																									9					9
Floating Rate Debt [Member] | US dollar 166 million secured term loan facility [Member]
Debt Instrument [Line Items]
Long-term debt																								145,600,000	$ 131,700,000		145,600,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								145,600,000	131,700,000		145,600,000
Term loan facility, principal amount							$ 166,400,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary							8
Number of vessels against which loan was secured | carrier							8
Debt Instrument, Term							7 years
Floating Rate Debt [Member] | US dollar 210 million secured term loan facility (Maersk) [Member]
Debt Instrument [Line Items]
Long-term debt																								200,200,000	187,000,000		200,200,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								200,200,000	$ 187,000,000		200,200,000
Term loan facility, principal amount						$ 210,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary						3
Number of vessels against which loan was secured | carrier						3
Debt Instrument, Term						5 years
Number of vessels delivered | carrier						(1)																			(2)	(2)
Floating Rate Debt [Member] | US Dollar 76 Million Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Long-term debt																								0	$ 74,700,000		0
Long-term Debt, by Maturity [Abstract]
Long-term debt																								0	74,700,000		0
Term loan facility, principal amount		$ 76,000,000
Number of wholly-owned subsidiaries of the Company that entered into secured term loan facility agreement | subsidiary		2
Number of vessels against which loan was secured | carrier		2
Debt Instrument, Term		7 years
Interest Expense [Member]
Long-term Debt, by Maturity [Abstract]
Amortization of deferred charges																									1,800,000		3,400,000
Reported Value Measurement [Member] | Senior Unsecured Convertible Bonds due 2021 [Member]
Debt Instrument [Line Items]
Long-term debt																								225,000,000	225,000,000		225,000,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																								$ 225,000,000	225,000,000		$ 225,000,000
Reported Value Measurement [Member] | NOK 900 Million Senior Unsecured Bonds [Member]
Debt Instrument [Line Items]
Long-term debt																									92,477,000
Long-term Debt, by Maturity [Abstract]
Long-term debt																									$ 92,477,000

OTHER LONG TERM LIABILITIES (De

OTHER LONG TERM LIABILITIES (Details) $ in Thousands	1 Months Ended
	Oct. 31, 2015vessel	Dec. 31, 2017USD ($)vessel	Dec. 31, 2016USD ($)vessel	Feb. 29, 2016vessel	Dec. 31, 2014vessel	Dec. 31, 2007USD ($)vessel
Other Liabilities Disclosure [Abstract]
Unamortized sellers' credit		$ 3,958	$ 6,124
Obligations under capital leases - long-term portion		230,576	118,754
Other items		4	4
Other long-term liabilities		$ 234,538	$ 124,882
Number of offshore supply vessels acquired | vessel						6
Seller's credit received						$ 37,000
Related Party Transaction [Line Items]
Number of container vessels contracted to be chartered in | vessel	2	2	1
Term of lease or charter	15 years
Number of vessels sold | vessel				1
Deep Sea Supply BTG [Member]
Related Party Transaction [Line Items]
Number of offshore supply vessels | vessel					5

OTHER LONG TERM LIABILITIES Obl

OTHER LONG TERM LIABILITIES Obligations under Capital Lease (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Obligations under Capital Lease [Abstract]
Term of lease or charter	15 years
2,018		$ 26,289
2,019		25,054
2,020		25,122
2,021		25,054
2,022		25,054
Thereafter		281,850
Total lease obligations		408,423
Less: imputed interest payable		(168,816)
Present value of obligations under capital leases		239,607
Less: current portion		(9,031)	$ (3,649)
Obligations under capital leases - long-term portion		230,576	118,754
Finance Lease, Interest Expense		$ 16,000	$ 200	$ 0

SHARE CAPITAL, ADDITIONAL PAI81

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Common shares, authorized	$ 1,500,000	$ 1,500,000
Common shares, authorized (in shares)	150,000,000	150,000,000	125,000,000
Share capital, par value (in dollars per share)	$ 0.01	$ 0.01	$ 1
Common shares, issued	$ 1,109,000	$ 1,015,000
Common shares, issued (in shares)	110,930,873	101,504,575		93,468,000	93,404,000
Exercisable at end of year (in dollars per share)	$ 11.78	$ 12.11

SHARE CAPITAL, ADDITIONAL PAI82

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Narrative) (Details) $ / shares in Units, kr in Millions	Jan. 30, 2013	Oct. 31, 2016USD ($)	Jan. 31, 2013USD ($)$ / shares	Sep. 30, 2016USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2017NOK (kr)shares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2016NOK (kr)shares	Dec. 31, 2015USD ($)	Nov. 30, 2016shares	Oct. 05, 2016USD ($)$ / sharesshares
Stockholders' Equity Note [Abstract]
Options exercised (in shares) | shares					7,500	7,500	36,575	36,575
Share capital, par value (in dollars per share) | $ / shares				$ 1	$ 0.01		$ 0.01
Exercisable at end of year (in dollars per share) | $ / shares					$ 11.78		$ 12.11
Premium on stock options exercised					$ 100,000		$ 200,000
Share Capital, shares authorized | shares				125,000,000	150,000,000		150,000,000
Share Capital, shares issued | shares				93,504,575	110,930,873		101,504,575
Share Capital Details
Equity component of convertible bond issuance due 2021			$ 20,700,000		$ 120,695,000		$ (3,966,000)		$ 0
Amortization of deferred equity contributions					$ 0		0		2,044,000
Senior Unsecured Convertible Bonds due 2021 [Member]
Stockholders' Equity Note [Abstract]
Debt Instrument, Interest Rate, Stated Percentage											5.75%
Share Capital Details
Debt amount											$ 225,000,000
Common Stock, Shares Loaned to Affiliate (in shares) | shares										8,000,000
Maturity date of debt		Oct. 15, 2021
Conversion price (in dollars per share) | $ / shares					$ 16.6561						$ 17.7747
Equity component of convertible bond issuance due 2021		$ 4,600,000
Shares issued on conversion of convertible debt | shares					60.0416						56.2596
Denomination of unsecured corporate bond											$ 1,000
US dollar 350 Million Senior Unsecured Convertible Bonds Due 2018 [Member]
Stockholders' Equity Note [Abstract]
Debt Instrument, Interest Rate, Stated Percentage			3.25%
Share Capital Details
Debt amount			$ 350,000,000
Maturity date of debt	Feb. 1, 2018
Conversion price (in dollars per share) | $ / shares			$ 21.945		$ 13.2418
Premium of conversion price to share price			33.00%
Repayments of Debt | kr								kr 165.8
Write off of Deferred Debt Issuance Cost | kr						kr 16.4		kr 8.5
Contributed surplus
Share Capital Details
Transfer arising from reduction in par value of issued shares				$ 92,600,000	$ 0		92,570,000		0
Amortization of deferred equity contributions					$ 0		$ 0		$ 2,044,000

SHARE OPTION PLAN (Details)

SHARE OPTION PLAN (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share options [Roll Forward]
Options exercised (in shares)	(7,500)	(36,575)
Weighted average exercise price [Abstract]
Exercisable at end of year (in dollars per share)	$ 11.78	$ 12.11
Weighted average assumptions used to calculate fair value of options [Abstract]
Weighted average fair value of options granted (in dollars per share)	$ 3.77	$ 3.06	$ 0
Risk free interest rate	1.58%	1.08%	0.00%
Expected share price volatility	33.02%	31.27%	0.00%
Expected dividend yield	0.00%	0.00%	0.00%
Expected life of options (in years)	3 years 6 months	3 years 6 months	0 years
Other disclosures [Abstract]
Total intrinsic value of options exercised during the period	$ 0	$ 300,000	$ 300,000
Proceeds from Stock Options Exercised	$ 100,000	$ 100,000	$ 800,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 2 months
Unrecognized compensation costs, period of recognition	2 years	2 years 2 months 21 days	0 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, term (in years)	5 years
Share options [Roll Forward]
Options outstanding at beginning of year (in shares)	279,000	125,000	189,000
Granted (in shares)	113,000	279,000	0
Options exercised (in shares)	(7,500)	(125,000)	(64,000)
Forfeited (in shares)	(15,000)	0	0
Options outstanding at end of year (in shares)	369,500	279,000	125,000
Exercisable at end of year (in shares)	85,500	0	125,000
Weighted average exercise price [Abstract]
Options outstanding at beginning of year (in dollars per share)	$ 13.03	$ 12.56	$ 13.17
Granted (in dollars per share)	14.30	14.38	0
Exercised (in dollars per share)	11.78	12.11	10.55
Forfeited (in dollars per share)	11.78	0	0
Options outstanding at end of year (in dollars per share)	12.20	13.03	12.56
Exercisable at end of year (in dollars per share)	$ 11.43	$ 0	$ 12.56
Other disclosures [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 300,000	$ 0	$ 500,000
Unrecognized compensation costs related to non-vested options granted	501,798	461,552	0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	900,000	500,000	0
Compensation cost recognized during the period	$ 400,000	$ 400,000	$ 0
New Options Granted During The Year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option vesting period, minimum (in years)	3 years
Weighted average assumptions used to calculate fair value of options [Abstract]
Expected life of options (in years)	5 years
Minimum [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option vesting period, minimum (in years)	1 year
Maximum [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option vesting period, minimum (in years)	3 years

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	1 Months Ended					3 Months Ended					6 Months Ended			12 Months Ended				42 Months Ended
	Apr. 30, 2017USD ($)	Feb. 29, 2016USD ($)vessel	Oct. 31, 2015	Jun. 30, 2015USD ($)Rateshares	Jan. 31, 2012	Sep. 30, 2017	Dec. 31, 2016USD ($)vesselshares	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Jun. 30, 2017USD ($)shares	Jun. 30, 2016Rate	Jun. 30, 2015USD ($)Rateshares	Dec. 31, 2017USD ($)vesselcarrier	Dec. 31, 2016USD ($)vessel	Dec. 31, 2015USD ($)	Dec. 31, 2011USD ($)vessel	Jun. 30, 2015USD ($)Rate	Nov. 30, 2016USD ($)shares	Oct. 05, 2016USD ($)shares	Nov. 30, 2015Rate	Jun. 05, 2015vessel	Dec. 31, 2014vessel	Dec. 30, 2014vessel	Nov. 30, 2014vessel	Oct. 31, 2013USD ($)	May 31, 2013USD ($)
Amounts due from and to related parties [Abstract]
Due from related parties							$ 17,519,000							$ 9,625,000	$ 17,519,000
Loans to related parties which are associates							330,087,000							314,000,000	330,087,000
Long-term receivables from related parties							9,268,000							0	9,268,000
Due to related parties							850,000							857,000	850,000
Long-term debt							$ 1,580,006,000							$ 1,522,900,000	$ 1,580,006,000
Number of vessels leased to related parties classified as direct financing leases | vessel							13							10	13
Vessels and equipment, net							$ 1,737,169,000							$ 1,762,596,000	$ 1,737,169,000
Assets Held-for-sale							24,097,000							0	24,097,000
Leasing revenues earned from related parties [Abstract]
Direct financing lease interest income														16,362,000	22,850,000	$ 34,193,000
Finance lease service revenue														35,010,000	44,523,000	46,460,000
Profit sharing revenues														5,753,000	51,470,000	59,607,000
Number of vessels sold | vessel		1
Time charter rate for VLCCs from July 1 2015 onwards																20,000
Time charter rate for Suezmax tankers from July 1 2015 onwards																15,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares													55,000,000
Available-for-sale securities							118,489,000							$ 93,802,000	118,489,000
Profit sharing percent of earnings from Frontline from July 1 2015 onwards														50.00%
Term of lease/charter (in years)			15 years
Notes receivable, related parties																83,800,000
Gain on redemption of loan notes from related parties														$ 0	0	28,904,000
Compensation received on termination of charters, notes receivable	$ 2,800,000
Proceeds from redemption of loan notes including interest																113,200,000
Accrued interest included with loan note redemption																500,000
Notes Compensation Received on Termination of Charters, Face Value	$ 6,000,000
Management fees paid, vessels														$ 57,714,000	67,221,000	56,939,000
Commission percentage paid on chartering revenues														1.25%
Administrative expenses - related parties														$ 831,000	1,443,000	1,032,000
Related party loans [Abstract]
Interest income, related party loans														15,265,000	18,675,000	18,672,000
Related party leasing and service contracts [Abstract]
Number of years charter may be extended										3 years
Available-for-sale securities impairment charge														4,410,000	0	20,552,000
SFL Hercules [Member]
Amounts due from and to related parties [Abstract]
Due from related parties							0							100,000	0
SFL Deepwater [Member]
Amounts due from and to related parties [Abstract]
Due from related parties							0							200,000	0
Deep Sea and Deep Sea Supply BTG [Member]
Amounts due from and to related parties [Abstract]
Due from related parties							1,945,000							0	1,945,000
SFL Linus [Member]
Amounts due from and to related parties [Abstract]
Due from related parties							700,000							3,600,000	700,000
Frontline Charterers, Seadrill, Deep Sea and UFC [Member]
Leasing revenues earned from related parties [Abstract]
Operating lease income														59,400,000	65,300,000	42,900,000
Direct financing lease interest income														16,400,000	22,900,000	34,200,000
Finance lease service revenue														35,000,000	44,500,000	46,500,000
Direct financing lease repayments														25,100,000	30,300,000	35,900,000
Profit sharing revenues														5,800,000	51,500,000	59,600,000
Frontline Charterers [Member]
Amounts due from and to related parties [Abstract]
Due from related parties							11,906,000							0	11,906,000
Due to related parties							$ 229,000							$ 539,000	$ 229,000
Number of vessels leased to related parties classified as direct financing leases | vessel							12							9	12		28					17
Number of VLCCs held for sale | vessel							1								1
Combined balance of net investments in direct financing leases														$ 314,000,000
Combined balance of net investments in direct financing leases, short-term maturities														22,300,000
Assets Held-for-sale							$ 24,100,000							0	$ 24,100,000
Leasing revenues earned from related parties [Abstract]
Due to Related Parties														300,000
Compensation payment received																150,200,000	$ 106,000,000
Number of vessels sold | vessel																							2	11	3
Agreed temporary reduction in daily time charter rates													$ 6,500
Number of charters transferred to new charterer | vessel																						3
Cash reserve per vessel				$ 2,000,000									2,000,000					$ 2,000,000
Profit sharing percentage of earnings from Frontline for use of fleet																	20.00%
Increase profit sharing percentage of earnings from Frontline for use of fleet (in hundredths)																		25.00%
Non-refundable advance relating to the profit sharing agreement																	$ 50,000,000
Period of temporary reduction in daily time charter rates					4 years
Maximum daily amount to which temporary earnings-related 100% payment applies													$ 6,500
Due from related parties							$ 11,900,000								$ 11,900,000
Frontline reverse stock split [Member]
Leasing revenues earned from related parties [Abstract]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares				11,000,000
United Freight Carriers Inc [Member]
Amounts due from and to related parties [Abstract]
Number of vessels leased to related parties classified as operating leases | vessel							6								6
Leasing revenues earned from related parties [Abstract]
Profit sharing revenues															$ 600,000	2,500,000
Profit sharing percentage of earnings from Frontline for use of fleet															50.00%
Frontline Ltd [Member]
Amounts due from and to related parties [Abstract]
Due from related parties							$ 3,008,000							5,579,000	$ 3,008,000
Leasing revenues earned from related parties [Abstract]
Investment Income, Dividend														3,300,000	11,600,000
Related Party Transactions Daily Vessel Management Fee														9,000
Frontline Shipping and Frontline Shipping II [Member]
Leasing revenues earned from related parties [Abstract]
Profit sharing revenues														0	0	19,900,000
Profit sharing percentage of earnings from Frontline for use of fleet					100.00%
Profit share income from July 1 2015 onwards														5,600,000	50,900,000	37,300,000
Frontline Management [Member]
Amounts due from and to related parties [Abstract]
Due to related parties							493,000							$ 147,000	493,000
Leasing revenues earned from related parties [Abstract]
Number of container vessels operating on time charter, for which part or all management supervision was sub-contracted to a related party | vessel														8
Number of drybulk carriers operating on time charter, for which part or all management supervision was sub-contracted to a related party | carrier														11
Number of car carriers operating on time charter, for which part or all management supervision was sub-contracted to a related party | carrier														2
Management fees paid, vessels														$ 36,500,000	45,900,000	48,000,000
Commissions paid for sales-type leases on Suezmax tankers														300,000	400,000	400,000
Administrative expenses - related parties														300,000	600,000	500,000
Management fees paid, supervision of newbuildings														1,000,000	0	100,000
Seatankers Management [Member]
Leasing revenues earned from related parties [Abstract]
Management fees paid, provision of office facilities														300,000
Seatankers [Member]
Amounts due from and to related parties [Abstract]
Due to related parties							79,000							60,000	79,000
Leasing revenues earned from related parties [Abstract]
Administrative expenses - related parties														100,000	300,000	0
Other related parties [Member]
Amounts due from and to related parties [Abstract]
Due from related parties														66,000
Due to related parties							49,000							111,000	49,000
Frontline Charterers, Deep Sea and Seadrill [Member]
Amounts due from and to related parties [Abstract]
Combined balance of net investments in direct financing leases							411,100,000								411,100,000
Combined balance of net investments in direct financing leases, short-term maturities							28,900,000								28,900,000
Deep Sea [Member]
Amounts due from and to related parties [Abstract]
Long-term receivables from related parties							$ 9,268,000							$ 0	$ 9,268,000
Number of vessels leased to related parties classified as direct financing leases | vessel							1							1	1
Number of vessels leased to related parties classified as operating leases | vessel							4							4	4
Leasing revenues earned from related parties [Abstract]
Profit sharing revenues														$ 0	$ 0	0
Profit sharing percentage of earnings from Frontline for use of fleet | Rate												50.00%
Stated interest rate		7.25%
Compensation received on termination of charters, notes receivable		$ 11,600,000
Notes Compensation Received on Termination of Charters, Face Value		$ 14,600,000
Number of offshore supply vessels | vessel														5
Extension of charter period								3 years
Frontline Management AS [Member]
Leasing revenues earned from related parties [Abstract]
Management fees paid, provision of office facilities															300,000	400,000
Frontline Corporate Services [Member]
Leasing revenues earned from related parties [Abstract]
Management fees paid, provision of office facilities														$ 200,000
Arcadia Petroleum Limited [Member]
Leasing revenues earned from related parties [Abstract]
Management fees paid, provision of office facilities															200,000	0
Frontline Management and Frontline Management AS [Member]
Amounts due from and to related parties [Abstract]
Due to related parties							$ 500,000							$ 100,000	500,000
Golden Ocean [Member]
Amounts due from and to related parties [Abstract]
Number of vessels leased to related parties classified as operating leases | vessel														8
Vessels and equipment, net							$ 328,600,000							$ 233,700,000	328,600,000
Leasing revenues earned from related parties [Abstract]
Profit sharing revenues														$ 200,000	0	0
Profit sharing percentage of earnings from Frontline for use of fleet														33.00%
Term of lease/charter (in years)										10 years
Number of container vessels operating on time charter, for which part or all management supervision was sub-contracted to a related party | vessel														8
Number of drybulk carriers operating on time charter, for which part or all management supervision was sub-contracted to a related party | carrier														14
Management fees paid, vessels														$ 21,200,000	21,300,000	9,000,000
Related party leasing and service contracts [Abstract]
Cost of Drybulk Carriers														272,000,000
Time charter rate for Capesize drybulk carriers for first 7 years														17,600
Number of years before time charter rate is reduced										7 years
Time charter rates for Capesize drybulk carriers after 7 years														14,900
NorAm Drilling [Member]
Leasing revenues earned from related parties [Abstract]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares							12,000,000
Available-for-sale securities														700,000
Related party leasing and service contracts [Abstract]
Available-for-sale Securities, Debt Securities														5,700,000
Interest and Dividend Income, Securities, Operating, Available-for-sale														500,000	500,000	600,000
Other Income														100,000	0
Golden Close [Member]
Leasing revenues earned from related parties [Abstract]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares											8,900,000
Investment Income, Dividend											$ 0
Available-for-sale securities							$ 23,200,000				28,400,000				23,200,000
Related party leasing and service contracts [Abstract]
Interest and Dividend Income, Securities, Operating, Available-for-sale														600,000	200,000
Term loan facility, amount guaranteed											$ 18,000,000
Guarantee term, Period											6 months
Other Income											$ 400,000
Seadrill [Member]
Leasing revenues earned from related parties [Abstract]
Period of temporary reduction in daily time charter rates						5 years
Related Party, Operating Management Fees														400,000
Equity Accounted Subsidiaries [Member]
Related party loans [Abstract]
Interest income, related party loans														15,200,000
Deep Sea [Member]
Leasing revenues earned from related parties [Abstract]
Interest on Notes Receivable, Related Party, Current							900,000				$ 400,000				900,000
Frontline Ltd [Member]
Leasing revenues earned from related parties [Abstract]
Ownership percentage | Rate				27.73%									27.73%					27.73%			7.03%
SFL Deepwater [Member]
Amounts due from and to related parties [Abstract]
Due from related parties														171,000
Loans to related parties which are associates							119,167,000							113,000,000	119,167,000
Due to related parties														200,000
Long-term debt							248,400,000							225,800,000	248,400,000
Leasing revenues earned from related parties [Abstract]
Debt amount																										$ 390,000,000
Related party loans [Abstract]
Loans advanced to related parties														145,000,000
Due to Related Parties, Noncurrent							119,200,000							113,000,000	119,200,000
Interest income, related party loans														5,400,000	6,500,000	6,500,000
Related party leasing and service contracts [Abstract]
Term loan facility, amount guaranteed							75,000,000							75,000,000	75,000,000
SFL Hercules [Member]
Amounts due from and to related parties [Abstract]
Due from related parties														97,000
Loans to related parties which are associates							85,920,000							80,000,000	85,920,000
Due to related parties														100,000
Long-term debt							278,700,000							251,300,000	278,700,000
Leasing revenues earned from related parties [Abstract]
Debt amount																											$ 375,000,000
Related party loans [Abstract]
Loans advanced to related parties														145,000,000
Due to Related Parties, Noncurrent							85,900,000							80,000,000	85,900,000
Interest income, related party loans														4,300,000	6,500,000	6,500,000
Related party leasing and service contracts [Abstract]
Term loan facility, amount guaranteed							75,000,000							70,000,000	75,000,000
Golden Ocean [Member]
Amounts due from and to related parties [Abstract]
Due from related parties														153,000
SFL Linus [Member]
Amounts due from and to related parties [Abstract]
Due from related parties							660,000							3,559,000	660,000
Loans to related parties which are associates							125,000,000							121,000,000	125,000,000
Due to related parties							700,000							3,600,000	700,000
Long-term debt							356,300,000							308,800,000	356,300,000
Leasing revenues earned from related parties [Abstract]
Debt amount																										$ 475,000,000
Related party loans [Abstract]
Loans advanced to related parties														125,000,000
Due to Related Parties, Noncurrent							125,000,000							121,000,000	125,000,000
Interest income, related party loans														5,500,000	5,600,000	5,600,000
Related party leasing and service contracts [Abstract]
Term loan facility, amount guaranteed							$ 90,000,000							90,000,000	$ 90,000,000
Sale of oil tanker- Front Century [Member]
Leasing revenues earned from related parties [Abstract]
Compensation payable (receivable) for early contract termination of charter														4,100,000
Sale of oil tanker- Front Brabant [Member]
Leasing revenues earned from related parties [Abstract]
Compensation payable (receivable) for early contract termination of charter														3,600,000
Sale of oil tanker- Front Scilla [Member]
Leasing revenues earned from related parties [Abstract]
Compensation payable (receivable) for early contract termination of charter														6,500,000
Sale of offshore support vessel Sea Bear [Member]
Leasing revenues earned from related parties [Abstract]
Number of vessels sold | vessel							1								1
Term of lease/charter (in years)									6 years
Sale of VLCC Front Vanguard [Member]
Leasing revenues earned from related parties [Abstract]
Compensation payable (receivable) for early contract termination of charter														4,800,000	$ 300,000
Sale of Suezmax tanker Front Glory [Member]
Leasing revenues earned from related parties [Abstract]
Compensation payable (receivable) for early contract termination of charter																2,200,000
Sale of Suezmax tanker Front Splendour [Member]
Leasing revenues earned from related parties [Abstract]
Compensation payable (receivable) for early contract termination of charter																1,300,000
Sale of Suezmax tanker Mindanao [Member]
Leasing revenues earned from related parties [Abstract]
Compensation payable (receivable) for early contract termination of charter																$ 3,300,000
Loan Notes [Member] | Deep Sea [Member]
Leasing revenues earned from related parties [Abstract]
Short-term portion of loan notes receivable with related parties							$ 1,400,000								1,400,000
Vessels Leased to Frontline Charterers [Member] | Frontline Management [Member]
Leasing revenues earned from related parties [Abstract]
Related Party Transactions Daily Vessel Management Fee														9,000
Daily vessel management fee before July 1 2015													$ 6,500
Golden Ocean [Member] | Golden Ocean Management [Member]
Leasing revenues earned from related parties [Abstract]
Related Party Transactions Daily Vessel Management Fee														7,000
Senior Unsecured Convertible Bonds due 2021 [Member]
Leasing revenues earned from related parties [Abstract]
Debt amount																				$ 225,000,000
Own-share Lending Arrangement, Shares, Outstanding | shares																				8,000,000
Debt Instrument, Related Party Share Loan Fee																			$ 80,000	$ 120,000
Own-share Lending Arrangement, Shares, Issued | shares																			8,000,000
Common Stock, Golden Close [Member]
Leasing revenues earned from related parties [Abstract]
Available-for-sale securities							$ 0							108,000	0
Related party leasing and service contracts [Abstract]
Available-for-sale securities impairment charge														600,000
Common Stock, Golden Close [Member] | Golden Close [Member]
Related party leasing and service contracts [Abstract]
Available-for-sale securities impairment charge														600,000	0
Corporate Bond Securities- Golden Close [Member]
Related party leasing and service contracts [Abstract]
Available-for-sale securities impairment charge														3,900,000
Corporate Bond Securities- Golden Close [Member] | Golden Close [Member]
Related party leasing and service contracts [Abstract]
Available-for-sale securities impairment charge														$ 1,000,000	$ 0

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Dec. 31, 2017USD ($)	Sep. 12, 2017subsidiaryRate	Dec. 31, 2016USD ($)
Derivative [Line Items]
Financial instruments (short-term): at fair value		$ 503		$ 39,309
Liabilities		48,618		61,456
Financial instruments (short-term): at fair value		108		110
Assets		8,347		6,042
Loans to related parties which are associates		314,000		330,087
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Financial instruments (short-term): at fair value		248		0
Liabilities		5,109		10,134
Financial instruments (short-term): at fair value		108		110
Assets		5,136		4,540
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Financial instruments (short-term): at fair value		255		0
Liabilities		553		1,388
Assets		3,211		1,502
Cross Currency Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Financial instruments (short-term): at fair value		0		37,101
Liabilities		36,120		41,716
Cross Currency Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Financial instruments (short-term): at fair value		0		2,208
Liabilities		6,836		8,218
Seadrill [Member]
Derivative [Line Items]
Agreed Proportion of temporary reduction to daily charter rate | Rate			29.00%
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
Financial Guarantee [Member]
Derivative [Line Items]
Guarantor Obligations, Current Carrying Value		235,000		240,000
Seadrill [Member]
Derivative [Line Items]
Loans to related parties which are associates		$ 317,800		$ 330,700

FINANCIAL INSTRUMENTS (Interest

FINANCIAL INSTRUMENTS (Interest Rate Risk Management) (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2017USD ($)	Dec. 31, 2017NOK (kr)	Oct. 31, 2017NOK (kr)	Jun. 22, 2017NOK (kr)	Dec. 31, 2016USD ($)	Mar. 19, 2014NOK (kr)
Derivative [Line Items]
Derivative, Notional Amount		$ 1,100,000	kr 500,000,000			$ 1,200,000
NOK 900 Million Senior Unsecured Bonds [Member]
Derivative [Line Items]
Debt amount | kr							kr 900,000,000
NOK500million senior unsecured floating rate bonds due 2020 [Member]
Derivative [Line Items]
Debt amount | kr				kr 500,000,000	kr 500,000,000
Designated as Hedging Instrument [Member] | $25,588 (reducing to $24,794)
Derivative [Line Items]
Derivative, Notional Amount		25,588
Notional principal, at maturity		$ 24,794
Inception date		Mar. 31, 2008
Maturity date		Aug. 15, 2018
Designated as Hedging Instrument [Member] | $25,588 (reducing to $24,794) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		4.05%	4.05%
Designated as Hedging Instrument [Member] | $25,588 (reducing to $24,794) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		4.15%	4.15%
Designated as Hedging Instrument [Member] | $26,324 (reducing to $23,394)
Derivative [Line Items]
Derivative, Notional Amount		$ 26,324
Notional principal, at maturity		$ 23,394
Inception date		Apr. 30, 2011
Maturity date		Dec. 24, 2018
Designated as Hedging Instrument [Member] | $26,324 (reducing to $23,394) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		2.13%	2.13%
Designated as Hedging Instrument [Member] | $26,324 (reducing to $23,394) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		2.80%	2.80%
Designated as Hedging Instrument [Member] | $38,985 (reducing to $34,044)
Derivative [Line Items]
Derivative, Notional Amount		$ 38,985
Notional principal, at maturity		$ 34,044
Inception date		May 31, 2011
Maturity date		Jan. 28, 2019
Designated as Hedging Instrument [Member] | $38,985 (reducing to $34,044) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		0.80%	0.80%
Designated as Hedging Instrument [Member] | $38,985 (reducing to $34,044) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		2.58%	2.58%
Designated as Hedging Instrument [Member] | $100,000 (remaining at $100,000)
Derivative [Line Items]
Derivative, Notional Amount		$ 100,000
Notional principal, at maturity		$ 100,000
Inception date		Aug. 31, 2011
Maturity date		Aug. 3, 2021
Designated as Hedging Instrument [Member] | $100,000 (remaining at $100,000) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		2.50%	2.50%
Designated as Hedging Instrument [Member] | $100,000 (remaining at $100,000) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		2.93%	2.93%
Designated as Hedging Instrument [Member] | $133,400 (terminating at $79,733)
Derivative [Line Items]
Derivative, Notional Amount		$ 133,400
Notional principal, at maturity		$ 79,733
Inception date		May 31, 2012
Maturity date		Aug. 30, 2022
Designated as Hedging Instrument [Member] | $133,400 (terminating at $79,733) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.76%	1.76%
Designated as Hedging Instrument [Member] | $133,400 (terminating at $79,733) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.85%	1.85%
Designated as Hedging Instrument [Member] | $151,008 (equivalent to NOK900 million)
Derivative [Line Items]
Derivative, Notional Amount	[1]	$ 151,008	kr 900,000,000
Inception date	[1]	Mar. 19, 2014
Maturity date	[1]	Mar. 19, 2019
Fixed Interest Rate		6.03%	6.03%
Designated as Hedging Instrument [Member] | $100,938 (reducing to $70,125)
Derivative [Line Items]
Derivative, Notional Amount		$ 100,938
Notional principal, at maturity		$ 70,125
Inception date		Dec. 28, 2016
Maturity date		Dec. 25, 2021
Derivative instrument, notional principal with future inception date		$ 54,188
Designated as Hedging Instrument [Member] | $100,938 (reducing to $70,125) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		2.29%	2.29%
Designated as Hedging Instrument [Member] | $100,938 (reducing to $70,125) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		2.63%	2.63%
Designated as Hedging Instrument [Member] | $104,125 (reducing to $70,125)
Derivative [Line Items]
Derivative, Notional Amount		$ 104,125
Notional principal, at maturity		$ 70,125
Inception date		Jan. 6, 2017
Maturity date		Jan. 6, 2022
Designated as Hedging Instrument [Member] | $104,125 (reducing to $70,125) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.82%	1.82%
Designated as Hedging Instrument [Member] | $104,125 (reducing to $70,125) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.99%	1.99%
Designated as Hedging Instrument [Member] | $29,120 (reducing to $19,413)
Derivative [Line Items]
Derivative, Notional Amount		$ 29,120
Notional principal, at maturity		$ 19,413
Inception date		Sep. 21, 2015
Maturity date		Mar. 19, 2022
Fixed Interest Rate		1.67%	1.67%
Designated as Hedging Instrument [Member] | $29,120 (reducing to $19,413) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.67%	1.67%
Designated as Hedging Instrument [Member] | $29,120 (reducing to $19,413) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.67%	1.67%
Designated as Hedging Instrument [Member] | $187,031 (reducing to $149,844)
Derivative [Line Items]
Derivative, Notional Amount		$ 187,031
Notional principal, at maturity		$ 149,844
Inception date		Feb. 23, 2016
Maturity date		Feb. 4, 2021
Designated as Hedging Instrument [Member] | $187,031 (reducing to $149,844) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.07%	1.07%
Designated as Hedging Instrument [Member] | $187,031 (reducing to $149,844) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.26%	1.26%
Designated as Hedging Instrument [Member] | $63,987 (equivalent to NOK500 million)
Derivative [Line Items]
Derivative, Notional Amount	[1]	$ 63,987	kr 500,000,000
Inception date		Oct. 19, 2017
Designated as Hedging Instrument [Member] | $63,987 (equivalent to NOK500 million) | Minimum [Member]
Derivative [Line Items]
Maturity date		Mar. 22, 2020
Fixed Interest Rate		6.86%	6.86%
Designated as Hedging Instrument [Member] | $63,987 (equivalent to NOK500 million) | Maximum [Member]
Derivative [Line Items]
Maturity date		Jun. 22, 2020
Fixed Interest Rate		6.96%	6.96%
Not Designated as Hedging Instrument [Member] | $100,000 (remaining at $100,000)
Derivative [Line Items]
Derivative, Notional Amount		$ 100,000
Notional principal, at maturity		$ 100,000
Inception date		Mar. 31, 2013
Maturity date		Apr. 25, 2023
Not Designated as Hedging Instrument [Member] | $100,000 (remaining at $100,000) | Minimum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.85%	1.85%
Not Designated as Hedging Instrument [Member] | $100,000 (remaining at $100,000) | Maximum [Member]
Derivative [Line Items]
Fixed Interest Rate		1.97%	1.97%
[1]	These swaps relate to the NOK900 million and NOK500 million unsecured bonds due 2019 and 2020, 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.

FINANCIAL INSTRUMENTS (Foreign

FINANCIAL INSTRUMENTS (Foreign Currency Risk Management) (Details) kr in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2017USD ($)	Dec. 31, 2017NOK (kr)	Dec. 31, 2016USD ($)
Derivative [Line Items]
Debt amount		$ 1,100,000	kr 500,000	$ 1,200,000
Designated as Hedging Instrument [Member] | $105,436 (equivalent to NOK600 million)
Derivative [Line Items]
Debt amount		$ 105,436	0
Designated as Hedging Instrument [Member] | $151,008 (equivalent to NOK900 million)
Derivative [Line Items]
Inception date	[1]	Mar. 19, 2014
Maturity date	[1]	Mar. 19, 2019
Debt amount	[1]	$ 151,008	900,000
Designated as Hedging Instrument [Member] | $63,987 (equivalent to NOK500 million)
Derivative [Line Items]
Inception date		Oct. 19, 2017
Debt amount	[1]	$ 63,987	kr 500,000
[1]	These swaps relate to the NOK900 million and NOK500 million unsecured bonds due 2019 and 2020, 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.

FINANCIAL INSTRUMENTS (Fair Val

FINANCIAL INSTRUMENTS (Fair Value and Carrying Value) (Details) $ in Thousands, kr in Millions	Dec. 31, 2017USD ($)	Dec. 31, 2017NOK (kr)	Dec. 31, 2016USD ($)	Dec. 31, 2016NOK (kr)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities, Current	$ 93,802		$ 118,489
Non-derivatives:
Available-for-sale securities	93,802		118,489
Floating rate NOK bonds due 2017	0		65,955
Floating Rate NOK Bonds due 2019			86,026
Long-term debt	1,522,900		1,580,006
Financial instruments (short-term): at fair value	108		110
Derivatives:
Derivative Asset, Noncurrent	8,347		6,042
Interest rate/ currency swap contracts – long-term receivables			6,042
Long term receivables, non-designated swap contracts	3,200		1,500
Long term payables, non-designated swap contracts	7,400		9,600
Carrying Value [Member]
Non-derivatives:
Available-for-sale securities			118,489
Floating rate NOK bonds due 2017	0		65,445
Floating Rate NOK Bonds due 2019			87,801
Derivatives:
Swap contracts short term receivables fair value disclosure			110
Derivative Asset, Noncurrent	108
Interest rate/ currency swap contracts – long-term receivables			6,042
Interest rate/ currency swap contracts – short-term payables	503		39,309
Interest rate/ currency swap contracts – long-term payables	48,618		61,456
Fair Value [Member]
Non-derivatives:
Available-for-sale securities			118,489
Floating rate NOK bonds due 2017	0		65,955
Floating Rate NOK Bonds due 2019	92,709		86,026
Floating Rate NOK Bonds due 2020	61,306		0
Derivatives:
Swap contracts short term receivables fair value disclosure			110
Interest rate/ currency swap contracts – long-term receivables			6,042
Interest rate/ currency swap contracts – short-term payables			39,309
Interest rate/ currency swap contracts – long-term payables			61,456
Senior Unsecured Convertible Bonds Due 2018 [Member]
Non-derivatives:
Long-term debt	63,218
Senior Unsecured Convertible Bonds Due 2018 [Member] | Carrying Value [Member]
Non-derivatives:
Unsecured convertible bonds			184,202
Senior Unsecured Convertible Bonds Due 2018 [Member] | Fair Value [Member]
Non-derivatives:
Unsecured convertible bonds	71,662		201,206
Senior Unsecured Convertible Bonds due 2021 [Member] | Carrying Value [Member]
Non-derivatives:
Long-term debt	225,000		225,000
Unsecured convertible bonds			225,000
Senior Unsecured Convertible Bonds due 2021 [Member] | Fair Value [Member]
Non-derivatives:
Unsecured convertible bonds	242,719		224,366
Not Designated as Hedging Instrument [Member]
Derivatives:
Interest rate/ currency swap contracts – short-term payables	300		2,200
NOK 900 Million Senior Unsecured Bonds [Member]
Non-derivatives:
Long-term debt	92,500	kr 758	87,801	kr 758
NOK 900 Million Senior Unsecured Bonds [Member] | Carrying Value [Member]
Non-derivatives:
Long-term debt	92,477
NOK500million senior unsecured floating rate bonds due 2020 [Member]
Non-derivatives:
Long-term debt	61,001	kr 500	0	kr 0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Non-derivatives:
Available-for-sale securities			118,489
Floating rate NOK bonds due 2017			65,955
Floating Rate NOK Bonds due 2019			86,026
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities, Current	$ 93,802
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Senior Unsecured Convertible Bonds Due 2018 [Member]
Non-derivatives:
Unsecured convertible bonds			$ 201,206

FINANCIAL INSTRUMENTS (Fair V89

FINANCIAL INSTRUMENTS (Fair Value Hierarchy) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Oct. 05, 2016	Jan. 31, 2013
Assets:
Available-for-sale securities	$ 93,802	$ 118,489
Available-for-sale Securities, Current	93,802	118,489
Derivative Asset, Noncurrent	8,347	6,042
Financial instruments (short-term): at fair value	108	110
Interest rate/currency swap contracts - long term receivables		6,042
Total assets	102,257	124,641
Liabilities:
Floating rate NOK bonds due 2017	0	65,955
Floating Rate NOK Bonds due 2019		86,026
Long-term debt	1,522,900	1,580,006
Financial instruments (short-term): at fair value	503	39,309
Total liabilities	517,517	678,318
US dollar 350 Million Senior Unsecured Convertible Bonds Due 2018 [Member]
Liabilities:
Interest rate				3.25%
Senior Unsecured Convertible Bonds due 2021 [Member]
Liabilities:
Interest rate			5.75%
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring Basis [Member]
Assets:
Available-for-sale securities		118,489
Total assets	93,802	118,489
Liabilities:
Floating rate NOK bonds due 2017		65,955
Floating Rate NOK Bonds due 2019		86,026
Total liabilities	468,396	577,553
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member]
Assets:
Interest rate/currency swap contracts - long term receivables		6,042
Total assets	8,455	6,152
Liabilities:
Interest rate/ currency swap contracts – long-term payables		61,456
Total liabilities	49,121	100,765
Significant Unobservable Inputs (Level 3) [Member] | Recurring Basis [Member]
Assets:
Available-for-sale securities		0
Total assets	0	0
Liabilities:
Total liabilities	0	0
Senior Unsecured Convertible Bonds Due 2018 [Member]
Liabilities:
Long-term debt	63,218
Senior Unsecured Convertible Bonds Due 2018 [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring Basis [Member]
Liabilities:
Unsecured convertible bonds		201,206
Estimate of Fair Value Measurement [Member]
Assets:
Available-for-sale securities		118,489
Swap contracts short term receivables fair value disclosure		110
Interest rate/currency swap contracts - long term receivables		6,042
Liabilities:
Floating rate NOK bonds due 2017	0	65,955
Floating Rate NOK Bonds due 2019	92,709	86,026
Floating Rate NOK Bonds due 2020	61,306	0
Interest rate/ currency swap contracts – short-term payables		39,309
Interest rate/ currency swap contracts – long-term payables		61,456
Estimate of Fair Value Measurement [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring Basis [Member]
Assets:
Available-for-sale Securities, Current	93,802
Estimate of Fair Value Measurement [Member] | Senior Unsecured Convertible Bonds Due 2018 [Member]
Liabilities:
Unsecured convertible bonds	71,662	201,206
Estimate of Fair Value Measurement [Member] | Senior Unsecured Convertible Bonds due 2021 [Member]
Liabilities:
Unsecured convertible bonds	242,719	224,366
Reported Value Measurement [Member]
Assets:
Available-for-sale securities		118,489
Swap contracts short term receivables fair value disclosure		110
Derivative Asset, Noncurrent	108
Interest rate/currency swap contracts - long term receivables		6,042
Liabilities:
Floating rate NOK bonds due 2017	0	65,445
Floating Rate NOK Bonds due 2019		87,801
Interest rate/ currency swap contracts – short-term payables	503	39,309
Interest rate/ currency swap contracts – long-term payables	48,618	61,456
Reported Value Measurement [Member] | Senior Unsecured Convertible Bonds Due 2018 [Member]
Liabilities:
Unsecured convertible bonds		184,202
Reported Value Measurement [Member] | Senior Unsecured Convertible Bonds due 2021 [Member]
Liabilities:
Long-term debt	$ 225,000	225,000
Unsecured convertible bonds		$ 225,000

FINANCIAL INSTRUMENTS (Concentr

FINANCIAL INSTRUMENTS (Concentrations of Risk) (Details)	12 Months Ended
	Dec. 31, 2017USD ($)vessel	Dec. 31, 2016USD ($)	Dec. 31, 2015
Concentration Risk [Line Items]
Loans to related parties which are associates	$ 314,000,000	$ 330,087,000
MSC [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	9.88%	4.00%	4.00%
Property Subject to or Available for Operating Lease, Number of Units | vessel	12
Golden Ocean [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	13.61%	12.00%	5.00%
Frontline Charterers [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	14.91%	28.00%	33.00%
Seadrill [Member] | Comprehensive Income [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	38.56475%	31.72001%	24.73361%
Seadrill [Member]
Concentration Risk [Line Items]
Loans to related parties which are associates	$ 317,800,000	$ 330,700,000
Frontline Ltd [Member]
Concentration Risk [Line Items]
Minimum Free Cash	2,000,000
Related Party Transactions Daily Vessel Management Fee	$ 9,000
Golden Ocean [Member]
Concentration Risk [Line Items]
Property Subject to or Available for Operating Lease, Number of Units | vessel	8
Frontline [Member] | Frontline Shipping [Member]
Concentration Risk [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	100.00%

COMMITMENTS AND CONTINGENT LI91

COMMITMENTS AND CONTINGENT LIABILITIES (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2015vessel	Dec. 31, 2017USD ($)vessel	Dec. 31, 2016USD ($)vessel
Commitments and Contingencies Disclosure [Abstract]
Book value of assets pledged under ship mortgages		$ 1,908,000	$ 2,009,000
Related Party Transaction [Line Items]
Long-term debt		1,522,900	1,580,006
Loans to related parties which are associates		314,000	330,087
Contractual commitments under newbuilding contracts		$ 0	$ 76,100
Number of container vessels contracted to be chartered in | vessel	2	2	1
Term of lease or charter	15 years
SFL Deepwater [Member]
Related Party Transaction [Line Items]
Long-term debt		$ 225,800	$ 248,400
Term loan facility, amount guaranteed		75,000	75,000
Loans to related parties which are associates		113,000	119,167
Seadrill [Member]
Related Party Transaction [Line Items]
Loans to related parties which are associates		317,800	330,700
SFL Hercules [Member]
Related Party Transaction [Line Items]
Long-term debt		251,300	278,700
Term loan facility, amount guaranteed		70,000	75,000
Loans to related parties which are associates		80,000	85,920
SFL Linus [Member]
Related Party Transaction [Line Items]
Long-term debt		308,800	356,300
Term loan facility, amount guaranteed		90,000	90,000
Loans to related parties which are associates		121,000	125,000
Equity Accounted Subsidiaries [Member]
Related Party Transaction [Line Items]
Long-term debt		785,800
Financial Guarantee [Member]
Related Party Transaction [Line Items]
Guarantor Obligations, Current Carrying Value		235,000	$ 240,000
Financial Guarantee [Member] | SFL Deepwater [Member]
Related Party Transaction [Line Items]
Term loan facility, amount guaranteed		75,000
Financial Guarantee [Member] | SFL Hercules [Member]
Related Party Transaction [Line Items]
Term loan facility, amount guaranteed		70,000
Financial Guarantee [Member] | SFL Linus [Member]
Related Party Transaction [Line Items]
Term loan facility, amount guaranteed		$ 90,000

COMMITMENTS AND CONTINGENT LI92

COMMITMENTS AND CONTINGENT LIABILITIES Book value of assets pledged (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Other Commitments [Line Items]
Book value of assets pledged under ship mortgages	$ 1,908	$ 2,009
Property Subject to Operating Lease [Member]
Other Commitments [Line Items]
Book value of assets pledged under ship mortgages	1,576.3
Property subject to direct financing leases [Member]
Other Commitments [Line Items]
Book value of assets pledged under ship mortgages	$ 331.3

CONSOLIDATED VARIABLE INTERES93

CONSOLIDATED VARIABLE INTEREST ENTITIES (Details) $ in Thousands	Dec. 31, 2017USD ($)variable_interest_entity	Dec. 31, 2016USD ($)
Variable Interest Entity [Line Items]
Number of variable interest entities | variable_interest_entity	21
Estimated residual values of leased property (un-guaranteed)	$ 232,424	$ 213,901
Variable Interest Entities With Assets Accounted for as Direct Financing Leases [Member]
Variable Interest Entity [Line Items]
Number of variable interest entities | variable_interest_entity	1
Carrying value of vessels	$ 2,900
Unearned lease income	1,400
Estimated residual values of leased property (un-guaranteed)	1,800
Outstanding loan balance	$ 0
Variable Interest Entities With Assets Accounted for as Operating Lease Assets [Member]
Variable Interest Entity [Line Items]
Number of variable interest entities | variable_interest_entity	20
Carrying value of vessels	$ 457,000
Outstanding loan balance	187,700
Outstanding loan balance, current portion	$ 13,900

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands	1 Months Ended				12 Months Ended
	Mar. 31, 2018USD ($)	Feb. 28, 2018USD ($)$ / sharesshares	Apr. 30, 2017USD ($)	Oct. 31, 2015	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Mar. 01, 2018containership	Sep. 30, 2017
Subsequent Event [Line Items]
Long-term debt					$ 1,522,900	$ 1,580,006
Proceeds from sale of vessels and termination of charters					74,791	$ 29,102	$ 42,275
Compensation received on termination of charters, notes receivable			$ 2,800
Proportion of bondholders in restructuring agreement with Seadrill Limited									40.00%
Proportion of secured bank lenders in restructuring agreement with Seadrill Limited									97.00%
Term of lease or charter				15 years
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend declared | $ / shares		$ 0.35
Number of container vessels contracted to be acquired | containership								15
Proceeds from sale of vessels and termination of charters	$ 12,500
Proportion of bondholders in restructuring agreement with Seadrill Limited								70.00%
Proportion of secured bank lenders in restructuring agreement with Seadrill Limited		99.00%
Frontline Shipping and Frontline Shipping II [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Compensation received on termination of charters, notes receivable		$ 8,900
Sale of oil tanker- Front Century [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from sale of vessels and termination of charters		$ 17,500
Senior Unsecured Convertible Bonds Due 2018 [Member]
Subsequent Event [Line Items]
Long-term debt					$ 63,218
Shares issued on conversion of convertible debt | shares					9,418,798
Senior Unsecured Convertible Bonds Due 2018 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Shares issued on conversion of convertible debt | shares		651,365