SFL (SFL) 6-K 27 Aug 21 2021 Q2 Current report (foreign) Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2021
Cover [Abstract]
Document Type	6-K
Entity File Number	001-32199
Entity Registrant Name	SFL Corporation Ltd.
Entity Central Index Key	0001289877
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating revenues
Interest income related parties – direct financing leases	$ 766	$ 946
Interest income other – sales-type, direct financing leases and leaseback assets	12,140	33,275
Service revenue related parties – direct financing leases	3,258	3,591
Profit sharing income - related parties	1,512	10,358
Profit sharing income - other	4,717	1,218
Time charter revenues - related parties	25,261	26,663
Time charter revenues - other	142,739	132,011
Bareboat charter revenues - other	9,202	6,437
Voyage charter revenues - other	24,437	23,775
Other operating income	1,858	2,087
Total operating revenues	225,890	240,361
Gain on sale of assets and termination of charters, net	0	2,250
Operating expenses
Vessel operating expenses - related parties	14,740	15,250
Vessel operating expenses - other	57,138	63,514
Depreciation	60,392	55,298
Vessel impairment charge	1,927	80,511
Administrative expenses - related parties	154	587
Administrative expenses - other	6,293	5,458
Total operating expenses	140,644	220,618
Net operating income	85,246	21,993
Non-operating income / (expense)
Interest income - related parties, long term loans to associated companies	4,063	7,064
Interest income - related parties, other	0	179
Interest income - other	271	1,043
Interest expense - other	(48,128)	(71,273)
(Loss)/gain on repurchase of bonds	(697)	1,081
Gain on settlement of related party loan notes	0	4,446
Gain/(loss) on investments in debt and equity securities	3,933	(18,236)
Dividend income - related parties	0	3,884
Other financial items, net	3,757	(31,583)
Net income/(loss) before equity in earnings of associated companies	48,445	(81,402)
Equity in earnings of associated companies	2,564	6,246
Net income/(loss)	$ 51,009	$ (75,156)
Per share information:
Basic earnings (loss) per share (in USD per share)	$ 0.43	$ (0.70)
Diluted earnings (loss) per share (in USD per share)	$ 0.43	$ (0.70)

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income/(loss)	$ 51,009	$ (75,156)
Fair value adjustments to hedging financial instruments	5,497	(20,071)
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments	0	6,369
Fair value adjustments to investment securities classified as available-for-sale	(321)	1,177
Other comprehensive income/(loss)	51	(107)
Other comprehensive income/(loss), net of tax	5,227	(12,632)
Comprehensive income/(loss)	$ 56,236	$ (87,788)

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 371,852	$ 215,445
Restricted cash	5,866	8,953
Investments in debt and equity securities	22,805	28,805
Due from related parties	4,842	7,718
Trade accounts receivable	7,601	6,666
Other receivables	16,829	22,024
Inventories	11,087	8,808
Prepaid expenses and accrued income	10,276	2,597
Investment in sales-type leases, direct financing leases and leaseback assets, current portion	41,508	55,420
Assets held for sale	4,091	0
Total current assets	496,757	356,436
Vessels and equipment, net	1,563,548	1,240,698
Newbuildings and vessel purchase deposits	18,783	0
Vessels under finance lease, net	676,896	697,380
Investment in sales-type leases, direct financing leases and leaseback assets, long-term portion	258,783	622,123
Investments in associated companies	29,141	27,297
Loans and long term receivables from related parties including associates	125,000	123,910
Financial instruments at fair value, long-term portion	3,675	3,406
Other long-term assets	21,319	21,961
Total assets	3,193,902	3,093,211
Current liabilities
Short-term debt and current portion of long-term debt	369,552	484,956
Finance lease liability, current portion	50,025	48,887
Due to related parties	1,329	2,724
Trade accounts payable	1,239	1,247
Financial instruments at fair value, current portion	1,714	1,572
Accrued expenses	17,727	21,060
Other current liabilities	18,641	16,085
Total current liabilities	460,227	576,531
Long-term liabilities
Long-term debt	1,312,171	1,164,113
Finance lease liability, long-term portion	498,823	524,200
Financial instruments at fair value, long-term portion	21,357	32,712
Other long-term liabilities	4	4
Total liabilities	2,292,582	2,297,560
Commitments and contingent liabilities
Stockholders' equity
Share capital ($0.01 par value; 300,000,000 shares authorized; 138,022,940 shares issued and outstanding at June 30, 2021). ($0.01 par value; 300,000,000 shares authorized; 127,810,064 shares issued and outstanding at December 31, 2020.	1,380	1,278
Additional paid-in capital	616,426	531,382
Contributed surplus	503,657	539,370
Accumulated other comprehensive loss	(14,089)	(19,316)
Accumulated deficit	(206,054)	(257,063)
Total stockholders’ equity	901,320	795,651
Total liabilities and stockholders’ equity	$ 3,193,902	$ 3,093,211

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Stockholders' equity
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	138,022,940	127,810,064
Common stock, shares outstanding (in shares)	138,022,940	127,810,064

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Net cash provided by operating activities
Net cash provided by operating activities	$ 124,956	$ 122,426
Investing activities
Additions to direct financing leases and leaseback assets	0	(65,030)
Purchase of vessels, capital improvements and other additions	(4,144)	(40,278)
Investment in newbuilding contracts and vessel deposits	(18,783)	0
Proceeds from sales of vessels and termination of charters	(519)	34,581
Net amounts paid to/(received from) associated companies	(588)	15,941
Proceeds from sale of shares	0	21,055
Other investments and long term assets, net	308
Other investments and long term assets, net		(32,527)
Net cash used in investing activities	(23,726)	(66,258)
Financing activities
Shares issued, net of issuance costs	83,428	12,659
Principal settlements of cross currency swaps, net	0	(11,706)
Payment for early settlements of interest rate swaps, net	0	(4,539)
Repurchase of bonds	(68,146)	(64,795)
Proceeds from issuance of short-term and long-term debt	252,000	347,231
Repayments of short-term and long-term debt	(151,668)	(275,905)
Debt fees paid	(3,573)	(4,199)
Repayment of lease obligation liability	(24,238)	(32,925)
Cash dividends paid	(35,713)	(64,887)
Net cash used in financing activities	52,090	(99,066)
Net change in restricted cash and cash and cash equivalents	153,320	(42,898)
Cash, restricted cash and cash equivalents at start of the period	224,398	203,016	$ 203,016
Cash, restricted cash and cash equivalents at end of the period	377,718	160,118	224,398
Cash, restricted cash and cash equivalents:
Cash and cash equivalents	371,852	152,124	215,445
Restricted cash	5,866	7,994	8,953
Cash, restricted cash and cash equivalents at end of the period	$ 377,718	$ 160,118	$ 224,398

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Contributed surplus	Accumulated other comprehensive loss	Accumulated deficit	Accumulated deficitCumulative Effect, Period of Adoption, Adjustment
Shares outstanding starting balance (in shares) at Dec. 31, 2019		119,391,310
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)		1,238,145
Shares outstanding ending balance (in shares) at Jun. 30, 2020		120,629,455
Equity starting balance at Dec. 31, 2019		$ 1,194	$ 469,426	$ 648,764	$ (13,015)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued, amount		12	12,646
Amortization of stock-based compensation			496
Stock-based compensation forfeitures and other			(30)
Equity adjustment arising from reacquisition of convertible notes			(126)
Dividends declared				(64,887)
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments					6,369
Fair value adjustments to hedging financial instruments					(20,071)
Fair value adjustments to available-for-sale securities					1,177
Other comprehensive income/(loss)	$ (107)				(107)
Net income/(loss)	(75,156)					(75,156)
Equity ending balance at Jun. 30, 2020	$ 934,054	$ 1,206	482,412	583,877	(25,647)	(107,794)	$ (32,638)
Shares outstanding starting balance (in shares) at Dec. 31, 2019		119,391,310
Shares outstanding ending balance (in shares) at Dec. 31, 2020	127,810,064	127,810,064
Equity starting balance at Dec. 31, 2019		$ 1,194	469,426	648,764	(13,015)	0
Equity ending balance at Dec. 31, 2020	$ 795,651	$ 1,278	531,382	539,370	(19,316)	(257,063)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)		10,212,876
Shares outstanding ending balance (in shares) at Jun. 30, 2021	138,022,940	138,022,940
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued, amount		$ 102	85,259
Amortization of stock-based compensation			374
Stock-based compensation forfeitures and other			(97)
Equity adjustment arising from reacquisition of convertible notes			(492)
Dividends declared				(35,713)
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments					0
Fair value adjustments to hedging financial instruments					5,497
Fair value adjustments to available-for-sale securities					(321)
Other comprehensive income/(loss)	$ 51				51
Net income/(loss)	51,009					51,009
Equity ending balance at Jun. 30, 2021	$ 901,320	$ 1,380	$ 616,426	$ 503,657	$ (14,089)	$ (206,054)	$ 0

UNAUDITED CONDENSED CONSOLIDA_7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - Parenthetical	6 Months Ended
	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member

INTERIM FINANCIAL DATA

INTERIM FINANCIAL DATA	6 Months Ended
	Jun. 30, 2021
INTERIM FINANCIAL DATA [Abstract]
INTERIM FINANCIAL DATA	INTERIM FINANCIAL DATA The unaudited condensed interim financial statements of SFL Corporation Ltd. (“SFL” or the “Company”) have been prepared on the same basis as the Company’s audited financial statements and, in the opinion of management, include all material adjustments, consisting only of normal recurring adjustments considered necessary in order to make the interim financial statements not misleading, in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The accompanying unaudited condensed interim financial statements do not include all of the disclosures required in annual and interim consolidated financial statements and should be read in conjunction with the annual financial statements and notes included in the Annual Report on Form 20-F for the year ended December 31, 2020, which was filed with the Securities and Exchange Commission on March 22, 2021. The results of operations for the interim period ended June 30, 2021 are not necessarily indicative of the results for the entire year ending December 31, 2021. Basis of accounting The condensed consolidated financial statements are prepared in accordance with US GAAP. The condensed consolidated financial statements include the assets and liabilities and results of operations of the Company and its subsidiaries including variable interest entities in which SFL is deemed to be the primary beneficiary. All inter-company balances and transactions have been eliminated on consolidation. The condensed consolidated financial statements are prepared in accordance with the accounting policies described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2020. Recently Adopted Accounting Standards In the six months ended June 30, 2021, the Company adopted the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) which became effective for the Company on January, 1, 2021. The Company adopted ASU 2019-12 "Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes", ASU 2020-01 "'Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815", ASU 2020-08 "Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs", ASU 2020-10 "Codification Improvements" and ASU 2021-01 "Reference Rate Reform (Topic 848): Scope". These adopted pronouncements introduced changes to a wide variety of topics but had no material impact to the Company’s condensed consolidated financial position, results of operations or cash flows contained in this report. Recently Issued Accounting Standards The following is a brief discussion of on a selection of recently released accounting pronouncements that are pertinent to the Company's business: In July 2021, the FASB issued ASU No. 2021-05, "Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments" ("ASU 2021-05"). This new standard amends the lease classification requirements for lessors to align them with practice under ASC Topic 840. Lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both of the following criteria are met: (1) The lease would have been classified as a sales-type lease or a direct financing lease in accordance with the classification criteria in ASC paragraphs 842-10-25-2 through 25-3; and (2) The lessor would have otherwise recognized a day-one loss. When a lease is classified as operating, the lessor does not recognize a net investment in the lease, does not derecognize the underlying asset, and, therefore, does not recognize a selling profit or loss. ASU 2021-05 is effective for fiscal years and interim periods beginning after December 15, 2021. The Company does not expect the adoption of ASU 2021-05 will have a material effect on the consolidated financial statements. In May 2021, the FASB issued ASU No. 2021-04, "Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options" ("ASU 2021-04"). This new standard provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. It specifically addresses: (1) How an entity should treat a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; (2) How an entity should measure the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; and (3) How an entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange. ASU 2021-04 is effective for fiscal years and interim periods beginning after December 15, 2021. The Company does not expect the adoption of ASU 2021-04 will have a material effect on the consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting". Accounting Standards Codification (“ASC”) 848 provided temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to reduce the financial reporting burden in light of the market transition from London Interbank Offered Rates (“LIBOR”) and other reference interest rates to alternative reference rates. Under ASC 848, companies can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform if certain criteria are met. An entity that makes this election would not be required to remeasure the contracts at the modification date or reassess a previous accounting determination. The amendments of ASC 848 apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU 2021-01, which clarified the scope of Topic 848 in relation to derivative instruments and contract modifications. The amendments in these updates are elective and are subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in these updates are effective for all entities since March 12, 2020 through to December 31, 2022. The Company has determined that the reference rate reform will impact its floating rate debt facilities and interest rate swaps contracts. In order to preserve the presentation of derivatives consistent with past presentation, the Company expects to take advantage of the expedients and exceptions provided by the updates when LIBOR is discontinued and replaced with alternative reference rates. In August 2020, the FASB issued ASU No. 2020-06, "Accounting for Convertible Instruments and Contracts in an Entity's Own Equity" ("ASU 2020-06"). ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. Consequently, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost or will be accounted for as a single equity instrument measured at its historical cost, as long as no other features require bifurcation and recognition as derivatives. By removing those separation models, the interest rate of convertible debt instruments typically will be closer to the coupon interest rate. ASU 2020-06 also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and may be applied on a full or modified retrospective basis. The Company is currently assessing the impact that ASU 2020-06 would have on its financial position, results of operations or cash flows. Significant Accounting Policies - Update Our significant accounting policies are described in "Note 2: Accounting Policies" of our Annual Report on Form 20-F for the year ended December 31, 2020 . Use of Estimates The preparation of financial statements in conformity 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Management of the Company believes that the accounting estimates and assumptions that have been made are appropriate given the increased uncertainties surrounding the severity and duration of the impacts of the COVID-19 pandemic. However actual results could differ materially from those estimates.

GAIN_(LOSS) ON SALE OF ASSETS A

GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS	GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS No vessels were sold and no charters were terminated during the six months ended June 30, 2021. During the six months ended June 30, 2020 , one VLCC ( Front Hakata ) and five offshore support vessels ( Sea Cheetah, Sea Jaguar, Sea Halibut, Sea Pike and Sea Leopard ) were sold to unrelated third parties. A net gain of $2.3 million was recorded in relation to the sale of these vessels. The Front Hakata and Sea Leopard were previously accounted for as investments in direct financing leases and Sea Cheetah , Sea Jaguar , Sea Halibut and Sea Pike were accounted for as operating lease assets.

EARNINGS_(LOSS) PER SHARE

EARNINGS/(LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
EARNINGS/(LOSS) PER SHARE	EARNINGS/(LOSS) PER SHARE The computation of basic earnings per share (“EPS”) is based on the weighted average number of shares outstanding during the period and the consolidated net income or loss 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: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Basic earnings/(loss) per share: Net income/(loss) available to stockholders 51,009 (75,156) Diluted earnings/(loss) per share: Net income/(loss) available to stockholders 51,009 (75,156) Interest and other expenses attributable to dilutive convertible notes (206) — Net income/(loss) assuming dilution 50,803 (75,156) The components of the denominator for the calculation of basic and diluted EPS are as follows: Six months ended (in thousands) June 30, 2021 June 30, 2020 Basic earnings per share: Weighted average number of common shares outstanding* 117,421 107,776 Diluted earnings per share: Weighted average number of common shares outstanding* 117,421 107,776 Effect of dilutive convertible notes 15 — Weighted average number of common shares outstanding assuming dilution 117,436 107,776 Six months ended June 30, 2021 June 30, 2020 Basic earnings/(loss) per share: $ 0.43 $ (0.70) Diluted earnings/(loss) per share: $ 0.43 $ (0.70) *The weighted average number of common shares outstanding excludes 8,000,000 shares issued as part of a share lending arrangement relating to the Company's issuance of 5.75% senior unsecured convertible notes in October 2016. It also excludes 3,765,842 shares issued as of June 30, 2021 from up to 7,000,000 shares issuable under a share lending arrangement relating to the Company's issuance of 4.875% senior unsecured convertible notes in April and May 2018. These lent shares are owned by the Company and will be returned on or before maturity of the bonds in 2021 and 2023, respectively. As at June 30, 2021, the outstanding options under the Company's Share Option Scheme and the 5.75% senior unsecured convertible bonds due 2021 were anti-dilutive.

OTHER FINANCIAL ITEMS

OTHER FINANCIAL ITEMS	6 Months Ended
	Jun. 30, 2021
Other Financial Items [Abstract]
OTHER FINANCIAL ITEMS	OTHER FINANCIAL ITEMS Other financial items, net comprise the following items: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Net cash movement on non-designated derivatives and swap settlements (3,558) (5,756) Net increase/(decrease) in fair value of non-designated derivatives 6,937 (25,864) Allowance for expected credit losses 716 (68) Other items (338) 105 Total other financial items, net 3,757 (31,583) 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. 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 Company recognizes, among other things, a measurement of expected credit losses for financial assets held at the reporting date, based on historical experience, current conditions and reasonable supportable forecasts. See also Note 18: Allowance for Expected Credit Losses. Other items in the six months ended June 30, 2021 include a net gain of $0.1 million arising from foreign currency translations (in the six months ended June 30, 2020: gain of $0.9 million). Other items included in other financial items include bank charges and fees relating to loan facilities.

INVESTMENTS IN DEBT AND EQUITY

INVESTMENTS IN DEBT AND EQUITY SECURITIES	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN DEBT AND EQUITY SECURITIES	INVESTMENTS IN DEBT AND EQUITY SECURITIES Investment securities held by the Company consist of the following investments in corporate bonds and equity securities: (in thousands of $) June 30, 2021 December 31, 2020 Corporate Bonds 8,293 9,431 Equity Securities 14,512 19,374 Total Investment in Debt and Equity Securities 22,805 28,805 Corporate Bonds The corporate bonds are classified as available-for-sale securities and are recorded at fair value, with unrealized gains and losses recorded as a separate component of "Other comprehensive income". Six months ended June 30, 2021 Year ended December 31, 2020 (in thousands of $) Amortized Cost Unrealized gains/(losses) Fair value Amortized Cost Unrealized gains/(losses) Fair value Corporate bonds: NorAm Drilling Bond 4,132 488 4,620 4,132 511 4,643 NT Rig Holdco 12% 3,567 106 3,673 3,567 404 3,971 NT Rig Holdco 7.5% — — — 817 — 817 Total corporate bonds 7,699 594 8,293 8,516 915 9,431 During the year ended December 31, 2020, the existing Oro Negro 12% and 7.5% bonds completed a conversion that resulted in the re cognition of NT Rig Holdco Liquidity 12% and NT Rig Holdco 7.5% bonds and the redemption of the Oro Negro 12% bonds in full and a substantial proportion of the Oro Negro 7.5% bonds. The Company recorded no gain or loss on the redemption of the bonds. The Company also acquired an additional $1.3 million of the NT Rig Holdco 12% bonds in the year ended December 31, 2020. Also, during the year ended December 31, 2020, it was determined that the Oro Negro 7.5% bonds and the NT Rig Holdco 7.5% bonds were other-than-temporarily impaired and an aggregate impairment loss of $4.9 million was recorded in the Consolidated Statement of Operations. During the six months ended June 30, 2021, an impairment loss of $0.8 million was recorded against the NT Rig Holdco 7.5% bonds. Equity Securities Changes in the fair value of equity investments are recognized in net income. (in thousands of $) June 30, 2021 December 31, 2020 Frontline 13,032 9,007 NorAm Drilling 1,480 1,484 ADS Maritime Holding — 8,883 Total Equity Securities 14,512 19,374 Equity Securities pledged to creditors 13,032 9,007 In March 2021, the Company received a capital dividend of approximately $8.8 million from ADS Maritime Holding following the sale of its remaining two vessels. Also in March 2021, the Company sold its remaining shares in ADS Maritime Holding for a consideration of $0.8 million and recognized a gain of $0.7 million in the Statement of Operations in relation to the disposal. Equity Securities Pledged to Creditors As at June 30, 2021, the Company held approximately 1.4 million shares of Frontline Ltd ("Frontline") , a related party (December 31, 2020: 1.4 million shares). Refer to Note 17: Related Party Transactions. In December 2019, the Company entered into a forward contract to repurchase 3.4 million shares of Frontline in June 2020 for $36.8 million. During the year ended December 31, 2020, the Company repurchased and simultaneously sold approximately 2.0 million shares in Frontline for total proceeds of $21.1 million and recorded gains of $2.3 million in the statement of operations in respect of the sales. As at December 31, 2020, the Company had a forward contract, which expired in January 2021, to repurchase 1.4 million shares of Frontline at a repurchase price of $16.2 million. The transaction has been accounted for as a secured borrowing, with the shares transferred to 'Marketable securities pledged to creditors' and a liability of $15.6 million recorded within debt at June 30, 2021 (December 31, 2020: $15.6 million) (See also Note 12: Short-Term and Long-Term Debt) . The Company has continued to roll forward the forward contract related to the remaining approximately 1.4 million shares. As at June 30, 2021

VESSELS AND EQUIPMENT, NET

VESSELS AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
VESSELS AND EQUIPMENT, NET	VESSELS AND EQUIPMENT, NET Movements in the six months ended June 30, 2021 are summarized as follows: (in thousands of $) Cost Accumulated Depreciation Vessels and Equipment, net Balance at December 31, 2020 1,693,171 (452,473) 1,240,698 Depreciation — (39,908) (39,908) Capital improvements 12,623 — 12,623 Reclassification from investments in direct financing leases 355,635 — 355,635 Transfer to assets held for sale (5,500) — (5,500) Balance at June 30, 2021 2,055,929 (492,381) 1,563,548 The capital improvements of $12.6 million relate to exhaust gas cleaning systems ("EGCS" or "scrubbers") and ballast water treatment systems ("BWTS") installed on six vessels during the six months ended June 30, 2021. During the six months ended June 30, 2021, one drilling unit ( West Linus ), previously recorded as a direct financing lease, was reclassified to vessels and equipment at the carrying value of $355.6 million. The drilling unit is held by a wholly owned subsidiary of the Company (SFL Linus Ltd) and is leased to a subsidiary of Seadrill Limited (“Seadrill”), a related party. The reclassification occurred on March 9, 2021, following approval by the bankruptcy court of the Interim Funding and Settlement Agreement signed between the Company and Seadrill, allowing Seadrill to pay reduced charterhire for West Linus during the interim period. The change in rate met the definition of a modification resulting in the lease being reclassified from a direct financing lease to an operating lease. (See also Note 9: Investment in sales-type leases, direct financing leases and leaseback assets and Note 10: Investment in Associated Companies). On March 31, 2021, the Company entered into a Memorandum of Agreement with an unrelated party to sell the drilling unit West Taurus to a ship recycling facility in Turkey. The rig has been redelivered to SFL and is expected to be recycled during the third quarter of 2021. As at June 30, 2021, West Taurus is presented as an 'Asset held for sale' within Current Assets. Following the reclassification, an impairment loss of $1.9 million was recorded against the rig in the six months ended June 30, 2021. During the six months ended June 30, 2021, no impairment losses were recorded against the carrying value of Vessels and Equipment, net. In the six months ended June 30, 2020, an impairment charge of $80.3 million was recorded against the carrying value of seven Handysize bulk carriers. The impairment charge arose in the six months ended June 30, 2020 due to revised future cashflow estimates following uncertainty over future demand combined with negative implications for global trade of dry bulk commodities as a result of the COVID-19 outbreak.

NEWBUILDINGS AND VESSEL PURCHAS

NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS	NEWBUILDINGS AND VESSEL PURCHASE DEPOSITSDuring the six months ended June 30, 2021, the Company paid total installments of $14.5 million in relation to two dual-fuel 7,000 Car Equivalent Unit ("CEU") newbuilding car carriers, currently under construction. The vessels are expected to be delivered in 2023 and will immediately commence a 10-year period time-charter with Volkswagen Group.Also during the six months ended June 30, 2021, the Company entered into a Memorandum of Agreement with an unrelated party for the acquisition of a 5,300 Twenty-foot Equivalent Unit ("TEU") container vessel. The vessel is expected to be delivered to the Company in the third quarter of 2021. A deposit of $4.3 million was paid by the Company in relation to the acquisition of the vessel in March 2021.

VESSELS UNDER FINANCE LEASE, NE

VESSELS UNDER FINANCE LEASE, NET	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
VESSELS UNDER FINANCE LEASE, NET	VESSELS UNDER FINANCE LEASE, NET Movements in the six months ended June 30, 2021 are summarized as follows: (in thousands of $) Cost Accumulated Depreciation Vessels under Finance Lease, net Balance at December 31, 2020 777,939 (80,559) 697,380 Depreciation — (20,484) (20,484) Balance at June 30, 2021 777,939 (101,043) 676,896 As at June 30, 2021, seven vessels were accounted for as vessels under finance lease, which consist of four 13,800 TEU container vessels and three 10,600 TEU container vessels. The vessels are leased for an original term ranging from six

INVESTMENTS IN SALES-TYPE LEASE

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS	6 Months Ended
	Jun. 30, 2021
Net Investment in Direct Financing and Sales Type Leases [Abstract]
INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS	INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS The following lists the components of investments in sales-type leases, direct financing leases and leaseback assets as at June 30, 2021 and December 31, 2020: (in thousands of $) June 30, 2021 Sales-Type Leases and Direct Financing Leases Leaseback Assets Total Total minimum lease payments to be received 209,368 72,144 281,512 Less : amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (37,440) — (37,440) Net minimum lease payments receivable 171,928 72,144 244,072 Estimated residual values of leased property (unguaranteed) 79,621 31,500 111,121 Less : unearned income (31,320) (22,590) (53,910) Total investment in sales-type lease, direct financing lease and leaseback assets 220,229 81,054 301,283 Allowance for expected credit losses* (810) (182) (992) Total investment in sales-type lease, direct financing lease and leaseback assets 219,419 80,872 300,291 Current portion 31,619 9,889 41,508 Long-term portion 187,800 70,983 258,783 (in thousands of $) December 31, 2020 Sales-Type Leases and Direct Financing Leases Leaseback Assets Total Total minimum lease payments to be received 705,196 79,786 784,982 Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (40,698) — (40,698) Net minimum lease payments receivable 664,498 79,786 744,284 Estimated residual values of leased property (unguaranteed) 79,621 31,500 111,121 Less: unearned income (147,876) (25,596) (173,472) Total investment in sales-type lease, direct financing lease and leaseback assets 596,243 85,690 681,933 Allowance for expected credit losses* (4,141) (249) (4,390) Total investment in sales-type lease, direct financing lease and leaseback assets 592,102 85,441 677,543 Current portion 45,888 9,532 55,420 Long-term portion 546,214 75,909 622,123 *See Note 1: Interim financial data and Note 18: Allowance for expected credit losses. As at June 30, 2021, the Company had a total of 27 vessel charters accounted for as sales-type and direct financing leases (December 31, 2020: 28 vessels) and four vessel charters classified as leaseback assets (December 31, 2020: four vessels). Investments in sales-type and direct financing leases As at June 30, 2021 , the Company had 15 container vessels accounted for as 'direct financing leases' which were chartered on long-term bareboat charters to MSC Mediterranean Shipping Company S.A. ("MSC"), an unrelated party. The terms of the charters for the 15 container vessels provide the charterer with purchase options throughout the term of the charters and the Company with a put option at the end of the seven years charter period. In July 2021, SFL was notified by MSC that they would exercise purchase options on the 15 container vessels. Three of the 15 vessels have been delivered to MSC and the remaining are expected to be delivered by the end of the third quarter of 2021 (refer to Note 20: Subsequent events). During the year ended December 31, 2020, the Company recognized the amount of $361.0 million in investments in direct financing leases in respect of one drilling unit ( West Linus ) which is held by a wholly owned subsidiary of the Company (SFL Linus Ltd.) and leased to a subsidiary of Seadrill. SFL Linus Ltd. was previously determined to be a variable interest entity in which the Company was not the primary beneficiary and the subsidiary was accounted for under the equity method. Following changes to the financing agreement in October 2020 as a result of defaults by Seadrill, the Company was determined to be the primary beneficiary of SFL Linus Ltd. and consolidates it from this date. On March 9, 2021, the bankruptcy court approved the Interim Funding and Settlement Agreement signed between the Company and Seadrill, allowing Seadrill to pay reduced charterhire for West Linus during the interim period. The change in charter rate met the definition of a modification resulting in the lease being reclassified from a direct financing lease to an operating lease. (See also Note 6: Vessels and equipment, net and Note 10: Investment in Associated Companies). River Box Holding Limited ("River Box") was previously a wholly owned subsidiary of the Company. It holds, through its subsidiaries, investments in direct financing leases in relation to the 19,200 and 19,400 TEU containerships MSC Anna , MSC Viviana , MSC Erica and MSC Reef . On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen Holding Ltd., or Hemen, a related party. Following the sale of River Box, the investments in the four container vessels accounted for as direct financing leases have been derecognized from the consolidated financial statements of the Company. (See also Note 10: Investment in Associated Companies and Note 17: Related Party Transactions). Investments in leaseback assets When a sale and leaseback transaction does not qualify for sale accounting, the Company does not recognize the transferred vessels and instead accounts for the purchase as a leaseback asset. In May 2020, SFL acquired a newbuild very large crude carrier ("VLCC") from Landbridge Universal Limited ("Landbridge") where control was not deemed to have passed to the Company due to the existence of repurchase options in the lease on acquisition and therefore was classified as a leaseback asset. Upon delivery, the vessel immediately commenced a seven year bareboat charter back to Landbridge. Landbridge have purchase options throughout the term of the charters and there is a purchase obligation at the end of the seven year period. In 2019, SFL acquired six vessels which were classified as 'leaseback assets'. Three of these six vessels were second-hand feeder size container vessels, which were acquired in a purchase and leaseback transaction with subsidiaries of MSC. The vessels were chartered back for approximately six years on a bareboat basis. The charterer has purchase options throughout the term of the charters and the Company has a put option at the end of the six year period. In July 2021, SFL was notified by MSC that they would exercise purchase options on the three container vessels. These three vessels have been delivered to MSC in August 2021 (refer to Note 20: Subsequent events). The three other vessels were newbuilding VLCCs, which were acquired from an affiliate of Hunter Grou p ASA ("Hunter Group") an

INVESTMENTS IN ASSOCIATED COMPA

INVESTMENTS IN ASSOCIATED COMPANIES	6 Months Ended
	Jun. 30, 2021
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
INVESTMENTS IN ASSOCIATED COMPANIES	INVESTMENT IN ASSOCIATED COMPANIES The Company has certain 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 SFL is not the primary beneficiary. At June 30, 2021, June 30, 2020 and December 31, 2020 the Company had the following participation in investments that were recorded using the equity method: June 30, 2021 June 30, 2020 December 31, 2020 River Box Holding Inc. ("River Box") 49.90 % † 49.90 % SFL Deepwater Ltd (“SFL Deepwater”) * 100.00 % * SFL Hercules Ltd (“SFL Hercules”) 100.00 % 100.00 % 100.00 % SFL Linus Ltd (“SFL Linus”) * 100.00 % * † River Box was a previously wholly owned subsidiary of the Company. River Box holds investments in direct financing leases, through its subsidiaries, in relation to the 19,200 and 19,400 TEU containerships MSC Anna , MSC Viviana , MSC Erica and MSC Reef . On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen, a related party and has accounted for the remaining 49.9% ownership in River Box using the equity method. * SFL Hercules and SFL Linus own the drilling units West Hercules and West Linus respectively which are on charter to subsidiaries of Seadrill. SFL Deepwater owns the drilling unit West Taurus which was also on charter to a subsidiary of Seadrill until the first quarter of 2021. All three entities were previously determined to be variable interest entities in which the Company was not the primary beneficiary and thus accounted for using the equity method. In October 2020, the Company was determined to be the primary beneficiary of SFL Linus and SFL Deepwater following changes to the financing agreements and as a result of defaults by Seadrill. Therefore, from October 2020 these two subsidiaries were consolidated by the Company. In February 2021, Seadrill and most of its subsidiaries filed Chapter 11 cases in the Southern District of Texas. SFL and certain of its subsidiaries have entered into court approved interim agreements with Seadrill relating to two of the Company’s drilling rigs, West Linus and West Hercules , allowing for the uninterrupted performance of sub-charters to oil majors while the Chapter 11 process is ongoing. Pursuant to these agreements, Seadrill is allowed to use funds received from the respective sub-charterers to pay a fixed level of operating and maintenance expenses in addition to general and administrative costs. In exchange, SFL receives approximately 65 - 75% of the contractual charterhire under the existing charter agreements for West Linus and West Hercules for the same period. In August 2021, the Company entered into an amendment to its existing charter agreement (the “amendment agreement”) with subsidiaries of Seadrill for the harsh environment semi-submersible rig West Hercules . Seadrill is expected to seek bankruptcy court approval of the amendment agreement on or before September 2, 2021, which is a condition precedent to the effectiveness to the amendment agreement. Each of SFL’s financing banks consented to the amendment agreement, and SFL’s limited corporate guarantee of the outstanding debt of the rig owning subsidiary remains unchanged at $83 million. Additionally, SFL agreed to a cash contribution of $5 million to the SFL Hercules's pledged earnings account at the time of redelivery following the termination of the Seadrill charter, in addition to a $3 million payable by Seadrill. See Note 20: Subsequent Events. Following these recent amendments, SFL Hercules is in compliance with its debt covenants. The lease to the third rig, West Taurus , was rejected by the court in March 2021 and the rig was redelivered to SFL in the second quarter of 2021. In March 2021, the Company signed an agreement for the recycling of the rig at a facility in Turkey. The rig is expected to be delivered to the recycling facility in the third quarter of 2021. Summarized balance sheet information of the Company’s equity method investees is as follows: As of June 30, 2021 (in thousands of $) TOTAL River Box SFL Hercules Share presented 49.90 % 100.00 % Current assets 21,617 13,602 8,015 Non-current assets 517,381 253,457 263,924 Total assets 538,998 267,059 271,939 Current liabilities 30,618 12,921 17,697 Non-current liabilities 479,239 237,487 241,752 Total liabilities 509,857 250,408 259,449 Total stockholders’ equity 29,141 16,651 12,490 As of December 31, 2020 (in thousands of $) TOTAL River Box SFL Hercules Share presented 49.90 % 100.00 % Current assets 34,763 12,475 22,288 Non-current assets 513,918 258,865 255,053 Total assets 548,681 271,340 277,341 Current liabilities 199,255 12,569 186,686 Non-current liabilities 322,129 243,219 78,910 Total liabilities 521,384 255,788 265,596 Total stockholders’ equity 27,297 15,552 11,745 Summarized statement of operations information of the Company’s equity method investees is as follows: Six months ended June 30, 2021 (in thousands of $) TOTAL River Box SFL Hercules Share presented 49.90 % 100.00 % Operating revenues 20,141 10,076 10,065 Net operating revenues 15,082 10,065 5,017 Net income 2,564 1,819 745 Six months ended June 30, 2020 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Share presented 100.00 % 100.00 % 100.00 % Operating revenues 28,315 8,207 8,157 11,951 Net operating revenues 28,315 8,207 8,157 11,951 Net income/(loss) 6,246 (721) 2,341 4,626 As required by ASU 2016-13 ' Financial Instruments - Credit Losses' from January 2020, River Box and SFL Hercules recognized an allowance for expected credit losses in respect of their principal financial assets : 'Investment in d irect f inanc ing l ease s ' and 'Related p arty r eceivable balances', held at the reporting date , which are within the scope of the ASU. Movements in the six months ended June 30, 2021 in the allowance for expected credit losses can be summarized as follows: (in thousands of $) TOTAL River Box SFL Hercules Share presented 49.90 % 100.00 % Balance at December 31, 2020 3,421 786 2,635 Reclassification to owned vessels within the associate (1,896) — (1,896) Allowance recorded in net income of associated companies (551) (381) (170) Balance at June 30, 2021 974 405 569 The Company has estimated the allowance for expected credit losses based on an analysis of factors including the credit rating assigned to the lessee, Seadrill, management ' s assessment of current and expected conditions in the offshore drilling market and calculated collateral exposure. In March 2021, the drilling unit held by SFL Hercules was reclassified from a direct financing lease to an operating lease and therefore recorded as an owed asset in the associated company's accounts. A previously recognized credit loss allowance of $1.9 million was derecognized as a result of the reclassification. As at June 30, 2021 , SFL Hercules had a term loan with an outstanding balance of $177.7 million ( December 31, 2020 : $185.8 million) of which $83.1 million ( December 31, 2020 : $83.1 million) was guaranteed by SFL. In the six months ended June 30, 2021, River Box paid a dividend of $0.7 million to SFL whilst SFL Hercules did not pay any dividends. In the six months ended June 30, 2020 and the year ended December 31, 2020, SFL Deepwater, SFL Hercules and SFL Linus did not pay any dividends.

OTHER LONG TERM ASSETS

OTHER LONG TERM ASSETS	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER LONG TERM ASSETS	OTHER LONG TERM ASSETS Other long term assets comprise of the following items: (in thousands of $) June 30, 2021 December 31, 2020 Capital improvements in progress 1,595 10,099 Collateral deposits on swap agreements 9,697 398 Value of acquired charter-out contracts, net 9,067 10,503 Long term receivables — — Other 960 961 Total Other Long Term Assets 21,319 21,961 Capital improvements in progress comprise of advances paid and costs incurred in respect of vessel upgrades in relation to EGCS and BWTS on nine vessels (2020: 11 vessels). This is recorded in other long term assets until such time as the equipment is installed on the vessel, at which point it is transferred to "Vessels and equipment, net" or "Investment in sales-type leases and direct financing leases'. In the six months ended June 30, 2021, the Company transferred costs of $12.6 million in respect of six vessels to "Vessels and equipment, net". No costs were transferred to "Vessels under finance lease, net." in the six months ended June 30, 2021. Collateral deposits exist on our interest rate, cross currency interest rate and currency swaps. Further amounts may be called upon during the term of the swaps, if interest rates or currency rates move adversely. "Value of acquired charter-out contracts, net" is recognized in connection with the 2018 purchases of four container vessels, Thalassa Mana , Thalassa Tyhi , Thalassa Doxa and Thalassa Axia, with each vessel subject to pre-existing time charters. A value of $18.0 million was assigned to these charters on acquisition. During the six months ended June 30, 2021, the amortization charged to time charter revenue was $1.4 million (Six months ended June 30, 2020: $1.4 million). Other long term assets previously included $1.9 million in receivables relate to loan notes due from third parties arising from the early termination of charters. Following the adoption of ASU 2016-13 from January 1, 2020, the Company recognized a credit loss provision totaling $1.9 million against this long term receivables balance thereby resulting in a net balance of $0.0 million at December 31, 2020. There was no movement to the foregoing during the six months ended June 30, 2021.

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2021
Long-term Debt, by Current and Noncurrent [Abstract]
SHORT-TERM AND LONG-TERM DEBT	SHORT-TERM AND LONG-TERM DEBT (in thousands of $) June 30, 2021 December 31, 2020 Long-term debt: 5.75% senior unsecured convertible notes due 2021 146,919 212,230 4.875% senior unsecured convertible notes due 2023 137,900 139,900 7.25% senior unsecured sustainability-linked bonds due 2026 150,000 — NOK700 million senior unsecured floating rate bonds due 2023 81,238 81,572 NOK700 million senior unsecured floating rate bonds due 2024 80,657 80,989 NOK600 million senior unsecured floating rate bonds due 2025 62,669 62,927 Borrowings secured on Frontline shares 15,639 15,639 Total Fixed Rate and Foreign Debt 675,022 593,257 U.S. dollar denominated floating rate debt due through 2025 1,020,471 1,070,137 Total debt principal 1,695,493 1,663,394 Less: Unamortized debt issuance costs (13,770) (14,325) Less: Current portion of long-term debt (369,552) (484,956) Total long-term debt 1,312,171 1,164,113 Movements in the period: (in thousands of $) Fixed Rate and Foreign Debt U.S. Dollar Floating Rate Debt Total debt principal Balance at December 31, 2020 593,257 1,070,137 1,663,394 Drawdowns 150,000 102,000 252,000 Repayments and redemptions (67,311) (151,666) (218,977) Effects of foreign exchange (924) — (924) Balance at June 30, 2021 675,022 1,020,471 1,695,493 Interest rate information: June 30, 2021 December 31, 2020 Weighted average interest rate* 2.85 % 2.91 % US Dollar London Interbank Offered Rate ("LIBOR"), 3-Month, closing rate 0.15 % 0.24 % Norwegian Interbank Offered Rate ("NIBOR"), 3-Month, closing rate 0.20 % 0.49 % *The weighted average interest rate is for floating rate debt denominated in U.S. dollars and Norwegian kroner (“NOK”) which takes into consideration the effect of related interest rate swaps. New Facilities, Renewals and Redemptions Fixed Rate and Foreign Debt Redemptions between January 1, 2021 and June 30, 2021 Bond In Millions of USD 4.875% senior unsecured convertible notes due 2023 2.0 5.75% senior unsecured convertible notes due 2021 65.3 During the six months ended June 30, 2021, the Company recorded a net loss of $0.7 million on the repurchase of fixed rate and foreign debt recorded in 'Gain or loss on repurchase of bonds'. During the six months ended June 30, 2020, a net gain of $1.1 million was recorded in respect of the repurchases of NOK500 million of its NOK500 million senior unsecured floating rate bonds due 2020, NOK5 million of its NOK700 million senior unsecured floating rate bonds due 2024, NOK60 million of its NOK600 million senior unsecured floating rate bonds due 2025 and $6.4 million of its 4.875% senior unsecured convertible notes due 2023. New Facilities 7.25% senior unsecured sustainability-linked bonds due 2026 In May 2021, the Company issued a senior unsecured sustainability-linked bond totaling $150 million in the Nordic credit market. The bonds bear quarterly interest at a fixed rate of 7.25% per annum and are redeemable in full on May 12, 2026. The net amount outstanding at June 30, 2021 was $150.0 million. U.S. Dollar Floating Rate Debt New facilities entered into between January 1, 2021 and June 30, 2021: Name of facility Draw down Number of wholly owned subsidiaries entering into the facility Term Balance outstanding at period end ($ millions) $51 million term loan facility Feb. 2021 one 4 years 49.9 $51 million term loan facility Apr. 2021 one 4 years 51.0 The Company has provided limited corporate guarantees for the above facilities, which bear interest at LIBOR plus a margin. Facilities redeemed between January 1, 2021 and June 30, 2021: Name of facility Original draw down date Number of wholly owned subsidiaries that had entered into the facility Original Term Amount redeemed ($ millions) $210 million secured term loan facility Nov. 2015 three 5 years 99.5 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 covenan ts. As at June 30, 2021, the Company was in compliance with all of the covenants under its long-term debt facilities. Borrowings secured on Frontline shares As at June 30, 2021 , the Company had a forward contract which expired in July of 2021, to repurchase 1.4 million shares of Frontline at a repurchase price of $16.3 million including accrued interest. The transaction has been accounted for as a secured borrowing, with the shares transferred to 'Marketable securities pledged to creditors' and a liability of $15.6 million recorded within debt at June 30, 2021 (December 31, 2020: $15.6 million). In July 2021, the forward contract to repurchase 1.4 million shares of Frontline, was rolled over to January 2022, at a repurchase price of $16.4 million. The Company is required to post collateral of 20% of the total repurchase price plus any negative mark to market movement from the repurchase price for the duration of the agreement. As at June 30, 2021, $5.9 million (December 31, 2020: $9.0 million) was held as collateral and recorded as restricted cash.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS The following table presents the fair values of the Company’s derivative instruments that were designated as cash flow hedges and qualified as part of a hedging relationship, and those that were not designated: (in thousands of $) June 30, 2021 December 31, 2020 Designated derivative instruments - long-term assets: Interest rate swaps 587 — Cross currency interest rate swaps 93 28 Cross currency swaps 2,988 3,373 Non-designated derivative instruments - long-term assets: Cross currency swaps 7 5 Total derivative instruments - long-term assets 3,675 3,406 (in thousands of $) June 30, 2021 December 31, 2020 Designated derivative instruments - short-term liabilities: Interest rate swaps 369 703 Non-designated derivative instruments - short-term liabilities: Interest rate swaps 1,345 869 Total derivative instruments - short-term liabilities 1,714 1,572 Designated derivative instruments - long-term liabilities: Interest rate swaps 4,755 7,926 Cross currency interest rate swaps 2,246 3,006 Cross currency swaps 8,288 8,301 Non-designated derivative instruments - long-term liabilities: Interest rate swaps 6,068 13,479 Total derivative instruments - long-term liabilities 21,357 32,712 Interest rate risk management The Company manages its debt portfolio with interest rate swap agreements denominated in U.S. dollars and Norwegian kroner to achieve an overall desired position of fixed and floating interest rates. At June 30, 2021, the Company and its consolidated subsidiaries had entered into interest rate swap transactions, involving the payment of fixed and floating rates in exchange for LIBOR or NIBOR. The total net notional principal amount subject to interest rate swap agreements as at June 30, 2021, was $0.9 billion (December 31, 2020: $0.9 billion). Foreign currency risk management The Company is party to currency swap transactions, involving the payment of U.S. dollars in exchange for Norwegian kroner, which are designated as hedges against the NOK700 million, NOK700 million and NOK600 million senior unsecured bonds due 2023, 2024 and 2025 respectively. Principal Receivable Principal Payable Trade date Maturity date NOK600 million US$76.8 million September 2018 September 2023 NOK100 million US$11.3 million August 2019 September 2023 NOK700 million US$80.5 million May 2019 June 2024 NOK600 million US$67.5 million January 2020 January 2025 Apart from NOK700 million, NOK700 million and NOK600 million senior unsecured bonds due 2023, 2024 and 2025, respectively, the majority of the Company’s transactions, assets and liabilities are denominated in U.S. dollars, the functional currency of the Company. Other than the corresponding currency swap transactions summarized above, the Company has not entered into forward contracts for either transaction or translation risk. Accordingly, there is a risk that currency fluctuations could have an adverse effect on the Company’s cash flows, financial condition and results of operations. Fair Values The carrying value and estimated fair value of the Company’s financial assets and liabilities at June 30, 2021 and December 31, 2020 are as follows: June 30, 2021 December 31, 2020 (in thousands of $) Carrying value Fair value Carrying value Fair value Non-derivatives: Available-for-sale debt securities 8,293 8,293 9,431 9,431 Equity securities 1,480 1,480 10,367 10,367 Equity securities pledged to creditors 13,032 13,032 9,007 9,007 Floating rate NOK bonds due 2023 (81,238) (80,831) (81,572) (78,513) Floating rate NOK bonds due 2024 (80,657) (80,052) (80,989) (76,940) Floating rate NOK bonds due 2025 (62,669) (60,632) (62,927) (57,421) 5.75% unsecured convertible notes due 2021 (146,919) (145,450) (212,230) (199,496) 4.875% unsecured convertible notes due 2023 (137,900) (137,470) (139,900) (123,112) 7.25% unsecured bonds due 2026 (150,000) (151,125) — — Derivatives: Interest rate/currency swap contracts - long-term receivables 3,675 3,675 3,406 3,406 Interest rate/currency swap contracts - short-term payables (1,714) (1,714) (1,572) (1,572) Interest rate/currency swap contracts - long-term payables (21,357) (21,357) (32,712) (32,712) In accordance with the accounting policy relating to interest rate and currency swaps described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2020, changes in the fair values of the rate swaps are recognized in other comprehensive income where the Company has designated the swaps as a hedges. Changes in the fair value of other swaps not designated as hedges are recognized in the Consolidated Statement of Operations. The fair values of financial assets and liabilities as at June 30, 2021, were measured as follows: Fair value measurements using, (in thousands of $) June 30, 2021 Quoted Prices in Significant Other Significant Assets: Available-for-sale debt securities 8,293 4,620 3,673 Equity securities 1,480 1,480 Equity securities pledged to creditors 13,032 13,032 Interest rate/ currency swaps, long-term receivables 3,675 3,675 Total assets 26,480 19,132 7,348 — Liabilities: Floating rate NOK bonds due 2023 (80,831) (80,831) Floating rate NOK bonds due 2024 (80,052) (80,052) Floating rate NOK bonds due 2025 (60,632) (60,632) 5.75% unsecured convertible notes due 2021 (145,450) (145,450) 4.875% unsecured convertible notes due 2023 (137,470) (137,470) 7.25% unsecured sustainability-linked bonds due 2026 (151,125) (151,125) Interest rate/currency swaps, short-term payables (1,714) (1,714) Interest rate/currency swaps, long-term payables (21,357) (21,357) Total liabilities (678,631) (655,560) (23,071) — 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 Level 1 and Level 2 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. Investment in equity securities consist of (i) listed Frontline shares and (ii) NorAm Drilling Company AS ("NorAm Drilling") shares traded in the OTC market whilst the investments in available-for-sale debt securities consist of listed and unlisted corporate bonds. At June 30, 2021, the Company determined that the available for sale corporate bonds held in Oro Negro and NT Rig Holdco valued at $3.7 million (December 31, 2020: $4.8 million) should be classified as Level 2 measurements (December 31, 2020: Level 2). The fair value of these corporate bonds is based on the latest available quoted prices, but due to low levels of trading the Company concluded that level one classification was not appropriate as at June 30, 2021. The estimated fair values of the floating rate NOK denominated bonds due 2023, 2024 and 2025, the 5.75% and 4.875% unsecured convertible notes due 2021 and 2023 and the 7.25% unsecured bonds due 2026 are all based on their quoted market prices as at the balance sheet date. The estimated fair value of interest rate and currency swap contracts is calculated using a well-established independent valuation technique applied to contracted cash flows and LIBOR or NIBOR interest rates as at June 30, 2021. Concentrations of risk There is a concentration of credit risk with respect to cash and cash equivalents to the extent that amounts are carried with Skandinaviska Enskilda Banken, ABN AMRO, Nordea, Credit Agricole Corporate and Investment Bank, ING Bank, Danske Bank, BNP Paribas, Credit Suisse, Morgan Stanley and DNB 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 the below customers to whom the Company has chartered multiple vessels. Charterer Number of Vessels chartered at June 30, 2021 % of consolidated operating revenues (Six months ended June 30, 2021) % of consolidated operating revenues (Six months ended June 30, 2020) Golden Ocean Group Limited (“Golden Ocean”)* 8 12 % 11 % MSC 28 3 % 13 % Maersk Line A/S (“Maersk”) 12 33 % 28 % Evergreen 4 15 % 14 % * Additionally see Note 17: Related party transactions. In addition, a significant portion of our net income/(loss) is generated from our associated companies. SFL Hercules leases a rig to a subsidiary of Seadrill and River Box Holding Inc. holds investments in direct financing leases, through its subsidiaries, related to the 19,200 and 19,400 TEU containerships MSC Anna , MSC Viviana , MSC Erica and MSC Reef . In the six months ended June 30, 2021, income from our associated companies accounted for approximately 13% of our consolidated net income (six months ended June 30, 2020: 18% of our consolidated net loss). (See also Note 10: Investment in Associated Companies). In February 2021, Seadrill and most of its subsidiaries filed Chapter 11 cases in the Southern District of Texas. SFL and certain of its subsidiaries have entered into court approved interim agreements with Seadrill relating to two of the Company’s drilling rigs, West Linus and West Hercules , allowing for the uninterrupted performance of sub-charters to oil majors while the Chapter 11 process is ongoing. Pursuant to these agreements, Seadrill is allowed to use funds received from the respective sub-charterers to pay a fixed level of operating and maintenance expenses in additional to general and administrative costs. In exchange, SFL receives approximately 65 - 75% of the contractual charterhire under the existing charter agreements for West Linus and West Hercules for the same period. In August 2021, the Company entered into an amendment to its existing charter agreement (the “amendment agreement”) with subsidiaries of Seadrill for the harsh environment semi-submersible rig West Hercules . Seadrill is expected to seek bankruptcy court approval of the amendment agreement on or before September 2, 2021, which is a condition precedent to the effectiveness to the amendment agreement. Each of SFL’s financing banks consented to the amendment agreement, and SFL’s limited corporate guarantee of the outstanding debt of the rig owning subsidiary remains unchanged at $83 million. Additionally, SFL agreed to a cash contribution of $5 million to the SFL Hercules's pledged earnings account at the time of redelivery following the termination of the Seadrill charter, in addition to a $3 million payable by Seadrill.

SHARE CAPITAL, ADDITIONAL PAID-

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS	SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS Authorized share capital is as follows: (in thousands of $, except share data) June 30, 2021 December 31, 2020 300,000,000 common shares of $0.01 par value each (December 31, 2020: 300,000,000 shares of $0.01 par value each) 3,000 3,000 Issued and fully paid share capital is as follows: (in thousands of $, except share data) June 30, 2021 December 31, 2020 138,022,940 common shares of $0.01 par value each (December 31, 2020: 127,810,064 shares of $0.01 par value each) 1,380 1,278 The Company’s common shares are listed on the New York Stock Exchange. On May 1, 2020, SFL filed a registration statement to register the sale of up to 10,000,000 Common Shares pursuant to the dividend reinvestment plan ("DRIP"), to facilitate investments by individual and institutional shareholders who wish to invest dividend payments received on shares owned or other cash amounts, in the Company's Common Shares on a regular basis, one time basis or otherwise. If certain waiver provisions in the DRIP are requested and granted pursuant to the terms of the plan, SFL may grant additional share sales to investors from time to time up to the amount registered under the plan. During the six months ended June 30, 2021, the Company declared a dividend of $0.15 per share on February 17, 2021 to shareholders of record as of March 15, 2021, with an ex-dividend date of March 12, 2021. The Company also declared a dividend of $0.15 per share on May 12, 2021 to shareholders of record as of June 14, 2021, with an ex-dividend date of June 11, 2021. In May 2020, the Company entered into an equity distribution agreement with BTIG LLC ("BTIG") under which SFL may, from time to time, offer and sell new ordinary shares having aggregate sales proceeds of up to $100.0 million through an At-the-Market Sales Agreement offering ("ATM"). During the six months ended June 30, 2021, the Company issued and sold a total of 10.2 million shares (2020: 8.4 million) under these DRIP and ATM arrangements. Total proceeds, net of costs, of $85.4 million were received (2020: $61.5 million), resulting in a premium on issue of $85.3 million (2020: $61.4 million). During the six months ended June 30, 2021, the Company repurchased some of its 4.875% senior unsecured convertible notes due 2023 with principal amounts totaling $2.0 million (2020: $8.4 million). The equity component of these extinguished notes was valued at $0.1 million (2020: $0.3 million) and has been deducted from "Additional paid-in capital". During the six months ended June 30, 2021, the Company repurchased some of its 5.75% senior unsecured convertible notes due 2021 with principal amounts totaling $65.3 million (2020: none). The equity component of these extinguished notes was valued at $0.4 million and has been deducted from "Additional paid-in capital". No new shares were issued following the exercise of share options in the six months ended June 30, 2021. During the six months ended June 30, 2020, the Company issued a total of 6,869 new shares following the exercise of share options. During the six months ended June 30, 2021, $35.7 million of the dividend declared was paid from contributed surplus (2020: $109.4 million).

SHARE OPTION PLAN

SHARE OPTION PLAN	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
SHARE OPTION PLAN	SHARE OPTION PLAN In November 2006, the Board of Directors approved the Company's Share Option Scheme (the "Option Scheme"). The Option Scheme will expire in November 2026, following the renewal in November 2016. The terms and conditions remain unchanged from those originally adopted in November 2006 and permit the Board of Directors, at its discretion, to grant options to employees, officers and directors of the Company or its subsidiaries. The fair value cost of options granted is recognized in the statement of operations, and the corresponding amount is credited to additional paid-in capital. In the six months ended June 30, 2021, additional paid-in capital was credited with $0.4 million relating to the fair value of options granted in April 2018, January 2019, March 2019, February 2020 and May 2021. In the six months ended June 30, 2021, 129,000 options were exercised, and the Company made a cash payment of $0.1 million in lieu of issuing shares under the Option Scheme. In May 2021, the Company awarded a total of 480,000 options to officers, employees and directors, 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 May 2022 onwards. The initial strike price was $8.79 per share. Total unrecognized compensation cost relating to the outstanding options under the Company's Option Scheme was $1.6 million as at June 30, 2021 (December 31, 2020: $0.7 million).

FINANCE LEASE LIABILITY

FINANCE LEASE LIABILITY	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
FINANCE LEASE LIABILITY	FINANCE LEASE LIABILITY As at June 30, 2021, the Company chartered-in seven container vessels under sale and leaseback transactions with an Asia based financial institution (December 31, 2020: seven). The seven vessels are accounted for as vessels under finance lease (refer to Note 8: Vessels under finance lease, net). (in thousands of $) June 30, 2021 December 31, 2020 Finance lease liability, current portion 50,025 48,887 Finance lease liability, long-term portion 498,823 524,200 548,848 573,087 River Box was previously a wholly owned subsidiary of the Company. It holds investments in direct financing leases, through its subsidiaries, related to the 19,200 and 19,400 TEU containerships MSC Anna , MSC Viviana , MSC Erica and MSC Reef which were chartered-in on a bareboat basis, each for a period of 15 years from delivery by the shipyard. The four vessels are also chartered-out for the same 15-year period on a bareboat basis to MSC, an unrelated party. On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen, a related party. Following the sale of River Box, finance lease liabilities of $464.7 million was derecognized from the consolidated financial statements of the Company on December 31, 2020, in relation to the four vessels. Refer to Note 10: Investment in Associated Companies.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company has transactions with the following related parties, being companies in which our principal shareholder, Hemen Holding Ltd. ("Hemen") and companies associated with Hemen have, or had, a significant direct or indirect interest: – Frontline – Frontline Shipping Limited ("Frontline Shipping") – Seadrill – Golden Ocean – Seatankers Management Co. Ltd ("Seatankers") – NorAm Drilling – ADS Maritime Holding Plc ("ADS Maritime Holding") – River Box The Condensed Consolidated Balance Sheets include the following amounts due from and to related parties and associated companies, excluding investment in direct financing lease balances (refer to Note 9: Investments in sales-type leases, direct financing leases and leaseback assets). (in thousands of $) June 30, 2021 December 31, 2020 Amounts due from: Frontline Shipping — 2,875 Frontline 3,093 3,202 Seadrill 2,773 3,613 Seatankers 181 — River Box 5 — SFL Hercules 213 — Golden Ocean 1,230 — Other related parties — 2 Allowance for expected credit losses* (2,653) (1,974) Total amount due from related parties 4,842 7,718 Loans to related parties - associated companies, long-term River Box 45,000 45,000 SFL Hercules 80,000 78,910 Loans and long term receivables to related parties including associates 125,000 123,910 Amounts due to: Frontline Shipping 1,204 836 Frontline 75 1,826 Golden Ocean — 23 Other related parties 50 39 Total amount due to related parties 1,329 2,724 * See Note 18: Allowance for expected credit losses. River Box was previously a wholly owned subsidiary of the Company. It holds investments in direct financing leases, through its subsidiaries, related to the 19,200 and 19,400 TEU containerships MSC Anna, MSC Viviana, MSC Erica and MSC Reef . On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen, a related party and has accounted for the remaining 49.9% ownership in River Box using the equity method (Refer to Note 10: Investment in associated companies). SFL Hercules and SFL Linus own the drilling units West Hercules and West Linus respectively which are on charter to subsidiaries of Seadrill. SFL Deepwater owns the drilling unit West Taurus which was also on charter to a subsidiary of Seadrill until the first quarter of 2021. All three entities were previously determined to be variable interest entities in which the Company was not the primary beneficiary and thus accounted for using the equity method. In October 2020, the Company was determined to be the primary beneficiary of SFL Linus and SFL Deepwater following changes to the financing agreements and as a result of defaults by Seadrill. Therefore, from October 2020 these two subsidiaries were consolidated by the Company. In February 2021, Seadrill and most of its subsidiaries filed Chapter 11 cases in the Southern District of Texas. SFL and certain of its subsidiaries have entered into court approved interim agreements with Seadrill relating to two of the Company’s drilling rigs, West Linus and West Hercules , allowing for the uninterrupted performance of sub-charters to oil majors while the Chapter 11 process is ongoing. Pursuant to these agreements, Seadrill is allowed to use funds received from the respective sub-charterers to pay a fixed level of operating and maintenance expenses in addition to general and administrative costs. In exchange, SFL receives approximately 65 - 75% of the contractual charterhire under the existing charter agreements for West Linus and West Hercules for the same period. In August 2021, the Company entered into an amendment to its existing charter agreement (the “amendment agreement”) with subsidiaries of Seadrill for the harsh environment semi-submersible rig West Hercules . Seadrill is expected to seek bankruptcy court approval of the amendment agreement on or before September 2, 2021, which is a condition precedent to the effectiveness to the amendment agreement. Each of SFL’s financing banks consented to the amendment agreement, and SFL’s limited corporate guarantee of the outstanding debt of the rig owning subsidiary remains unchanged at $83 million. Additionally, SFL agreed to a cash contribution of $5 million to the SFL Hercules's pledged earnings account at the time of redelivery following the termination of the Seadrill charter, in addition to a $3 million payable by Seadrill. The lease to the third rig, West Taurus , was rejected by the court in March 2021 and the rig was redelivered to SFL in the second quarter of 2021. In March 2021, the Company signed an agreement for the recycling of the rig at a facility in Turkey. The rig is expected to be delivered to the recycling facility in the third quarter of 2021. Related party leasing and service contracts A summary of leasing revenues and repayments from Frontline Shipping and Golden Ocean is as follows: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Golden Ocean: Operating lease income 25,261 26,663 Profit share 1,244 — Frontline Shipping: Direct financing lease interest income 766 946 Direct financing lease service revenue 3,258 3,591 Direct financing lease repayments 3,176 3,403 Profit share 268 10,358 In 2019, SFL entered into an agreement with Golden Ocean, where the Company agreed to finance installation of scrubbers on seven of the eight Capesize bulk carriers with an amount of up to $2.5 million per vessel, in return for increased charter hire of $1,535 per day from January 1, 2020 to June 30, 2025. The installations have been completed during the year ended December 31, 2020, with the cost being capitalized into the value of the assets. Profits sharing arrangements were not changed. In addition to leasing revenues and repayments, the Company incurred the following fees with related parties: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Frontline: Vessel Management Fees 4,249 4,592 Newbuilding Supervision Fees 16 — Commissions and Brokerage 96 178 Administration Services Fees 59 37 Golden Ocean: Vessel Management Fees 10,136 10,192 Operating Management Fees 355 466 Administration Services Fees 33 32 Seatankers: Administration Services Fees* 113 206 Office Facilities: Seatankers Management Norway AS 54 47 Frontline Management AS 118 96 Frontline Corporate Services Ltd. 71 169 * In addition a credit note of $0.3 million was received during the six months ended June 30, 2021 in relation to 2020 fees paid. Related party loans – associated companies A summary of loans entered into with River Box and SFL Hercules are as follows: (in millions of $) River Box SFL Hercules Loans granted 45 145 Loans outstanding at June 30, 2021 45 80 The loans to River Box and SFL Hercules are fixed interest rate loans. These loans are repayable in full on October 1, 2023 (SFL Hercules) and November 16, 2033 (River Box) or earlier if the companies sell their assets. Interest income received on the loans to associated companies is as follows: Six months ended (in millions of $) June 30, 2021 June 30, 2020 River Box 2.3 — SFL Deepwater* — 2.5 SFL Hercules 1.8 1.8 SFL Linus* — 2.7 *In October 2020, the Company was determined to be the primary beneficiary of SFL Linus and SFL Deepwater following changes to the financing agreements and as a result of defaults by Seadrill and therefore consolidated these entities from this date. Long-term receivables from related parties In February 2020, Frontline redeemed in full the loan notes received by the Company on the sale of four VLCCs Front Page, Front Stratus, Front Serenade and Front Ariake in 2018. The aggregate amount received on redemption was $11.0 million. At the time of the redemption, the loan notes had a carrying value of $11.0 million, resulting in a gain of $0.0 million on disposal. In February 2020, Frontline Shipping redeemed in full the loan note received by the Company on the sale of the VLCC Front Circassia in 2018. The aggregate amount received on redemption was $8.9 million. At the time of the redemption, the loan note had a carrying value of $4.45 million, resulting in a gain of $4.45 million on settlement. The Company received the following interest income on the loan notes: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Frontline Shipping — 82 Frontline — 97 Other related party transactions In February 2020, the Company delivered the 2002-built VLCC Front Hakata to an unrelated third party for sale proceeds of $33.5 million. Furthermore, the Company agreed with Frontline Shipping to terminate the long-term charter for the vessel upon the sale and delivery, and pai d $3.2 million compensation for early termination of the charter. A gain of $1.4 million was recognized on the sale. In March 2021, the Company received a capital dividend of approximately $8.8 million from ADS Maritime Holding following the sale of its remaining two vessels. Also in March 2021, the Company sold its remaining shares in ADS Maritime Holding for a consideration of approximately $0.8 million recognizing a gain of $0.7 million on disposal (Refer to Note 5: Investments in debt and equity securities). Dividends and interest income received from shares held in and secured notes issued by related parties: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Dividends received ADS Maritime Holding — 1,508 Frontline — 2,376 Interest income received NorAm Drilling — 210 For additional information on the shares and corporate bonds held, refer to Note 5: Investments in debt and equity securities.

ALLOWANCE FOR EXPECTED CREDIT L

ALLOWANCE FOR EXPECTED CREDIT LOSSES	6 Months Ended
	Jun. 30, 2021
Credit Loss [Abstract]
ALLOWANCE FOR EXPECTED CREDIT LOSSES	ALLOWANCE FOR EXPECTED CREDIT LOSSES ASU 2016-13 introduces a new credit loss methodology, requiring earlier recognition of potential credit losses. T he Company adopted ASU 2016-13 using the modified retrospective method from January 1, 2020. The provision is based on an assessment of the impact of current and expected future conditions, and at June 30, 2021 this is inclusive of the Company's estimate of the potential effect of the COVID-19 pandemic on credit losses. The duration and severity of COVID-19 and continued market volatility is highly uncertain and, as such, the impact on expected credit losses is subject to significant judgment and may cause variability in the Company’s allowance for credit losses in future periods. Movements in the allowance for expected credit losses may result in gains as well as losses recorded in income as changes occur in the balances of our financial assets and the risk profiles of our counterparties. The following table presents the impact of the allowance for expected credit losses on the Company's balance sheet line items for the six months ended June 30, 2021. (in thousands of $) Trade receivables Other receivables Related Party receivables Investment in sales-type, direct financing leases and leaseback assets Other long-term assets Total Balance at December 31, 2020 33 881 1,973 4,390 1,894 9,171 Reclassification to 'vessels and equipment, net' — — — (2,030) — (2,030) Change in allowance recorded in 'other financial items' 40 (68) 680 (1,368) — (716) Balance at June 30, 2021 73 813 2,653 992 1,894 6,425 The impact of the allowance for expected credit losses on the associates is disclosed in Note 10: Investment in associated companies. In March 2021, the drilling unit held by a wholly owned subsidiary of the Company (SFL Linus) was reclassified from direct financing lease to operating lease and has been presented within Vessels and Equipment. A previously recognized credit loss allowance of $2.0 million was derecognized as a result of the reclassification. Refer to Note 6: Vessels and Equipment, net and Note 9: Investment in sales-type leases, direct financing leases and leaseback assets.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Assets Pledged (in millions of $) June 30, 2021 December 31, 2020 Vessels and equipment, net 1,518 1,189 Investments in sales-type, direct financing leases and leaseback assets 299 675 Book value of consolidated assets pledged under ship mortgages 1,817 1,864 Assets with finance lease liabilities (in millions of $) June 30, 2021 December 31, 2020 Vessels under finance lease, net 677 697 Total book value 677 697 The Company and its equity-accounted subsidiaries have funded their acquisition of vessels, jack-up rig and ultra-deepwater drilling units through a combination of equity, short-term debt and long-term debt. Providers of long-term loan facilities usually require that the loans be secured by mortgages against the assets being acquired. As at June 30, 2021, the Company had $1.7 billion of outstanding principal indebtedness under various credit facilities ( December 31, 2020 : $1.7 billion) and finance lease liabilities totaling $0.5 billion ( December 31, 2020 : $0.6 billion ) . In addition, as at June 30, 2021 , SFL Hercules, a wholly-owned subsidiary of the Company which is accounted for using the equity method, had a term loan with an outstanding balance of $177.7 million ( December 31, 2020 : $185.8 million) of which $83.1 million ( December 31, 2020 : $83.1 million) was guaranteed by SFL. See Note 10: Investments in associated companies. As at June 30, 2021, the Company had a forward contract which expired in July 2021, and has subsequently been rolled over to January 2022, to repurchase 1.4 million shares of Frontline (December 31, 2020: 1.4 million shares) with a carrying value of $13.0 million (December 31, 2020: $9.0 million). The transaction has been accounted for as a secured borrowing, with the shares transferred to 'Marketable securities pledged to creditors' and a liability of $15.6 million recorded within debt at June 30, 2021 (December 31, 2020: $15.6 million). At June 30, 2021 these shares together with a restricted cash balance of $5.9 million (December 31, 2020: $9.0 million) have been pledged as part of the forward agreement. Other Contractual Commitments and Contingencies The Company has arranged insurance for the legal liability risks for its shipping activities with Gard P.& I. (Bermuda) Ltd., Assuranceforeningen Skuld (Gjensidig), The Steamship Mutual Underwriting Association Limited, The West of England Ship Owners Mutual Insurance Association (Luxembourg), North of England P&I Association Limited, The Standard Club Europe Ltd, The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited and The Britannia Steam Ship Insurance Association 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. Contractual commitments and contingencies in respect of SFL Hercules, a wholly-owned subsidiary of the Company which is accounted for using the equity method, are contained in Note 10: Investments in associated companies. Capital commitments As at June 30, 2021, the Company has no capital commitments towards the procurement of scrubbers on vessels owned by the Company (December 31, 2020: $5.8 million on nine vessels). As at June 30, 2021, the Company has also committed to paying $6.1 million towards the installation of BWTS on 13 vessels from its fleet (December 31, 2020: $7.0 million on 16 vessels), with installations expected to take place up to the end of 2022. During the six months ended June 30, 2021, the Company entered into a Memorandum of Agreement with an unrelated party for the acquisition of a container vessel with a long term charter to a leading container liner operator. The purchase price of the vessel is $36.0 million. In March 2021, the Company paid a deposit of $4.3 million in relation to the acquisition and has committed to paying the remaining amount of $31.7 million on delivery of the vessel, which is due to take place in the third quarter of 2021. Also during the six months ended June 30, 2021, the Company entered into purchase agreements with an unrelated party for the acquisition of two medium-sized container vessels in combination with long term charters to a leading container liner operator, for a total consideration of $151.5 million. The vessels are modern eco-designs built in 2013 and 2014 with approximately 6,800 TEU carrying capacity. The two vessels were delivered to us i n August 2021 and immediately commenced their l ong term charters . (Refer to Note 20: Subsequent events). Also during the six months ended June 30, 2021, the Company entered into purchase agreements with an unrelated party for the acquisition of two 14,000 TEU container vessels with charters to a leading container liner operator, for a total purchase price of $191.5 million. The vessels are expected to be delivered in the third quarter of 2021. As at June 30, 2021, the Company had commitments under shipbuilding contracts to construct two newbuilding dual-fuel 7,000 CEU car carriers designed to use liquefied natural gas ("LNG"), totaling to $130.2 million (December 31, 2020: $0.0 million). Delivery is expected to take place in 2023. There were no other material contractual commitments as at June 30, 2021.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On August 18, 2021, the Board of Directors of the Company declared a dividend of $0.15 per share to shareholders of record as of September 15, 2021, which will be paid in cash on or around September 29, 2021. In August 2021, the Company entered into an agreement with a leading Asia-based transportation company to build and charter out two additional newbuild dual-fuel 7,000 CEU car carriers designed to use LNG. The charter period is 10 years from delivery of the vessels in 2024. The vessels are sister vessels of the two 7,000 CEU car carriers currently under construction and will be chartered to the Volkswagen Group from delivery in 2023. In August 2021, the Company took delivery of the two 6,800 TEU container vessels which were agreed for acquisition in June 2021. U pon delivery, t he two vessels immediately commenced their l ong term charters to a leading container liner operator. In August 2021, the Company agreed to acquire two additional 14,000 TEU vessels in combination with a long term charters to a leading container liner operator. The delivery is expected to take place in the third quarter of 2021. In August 2021, the Company entered into an amendment to its existing charter agreement (the “amendment agreement”) with subsidiaries of Seadrill for the harsh environment semi-submersible rig West Hercules . Under the amendment agreement with Seadrill, the West Hercules is contracted to be employed with an oil major into the second half of 2022 (the “charter period”), prior to being redelivered to SFL in Norway. Pursuant to the amendment agreement, SFL has agreed to receive bareboat hire of (i) approximately $64,700 per day until Seadrill emerges from Chapter 11 and its plan is confirmed by the court (the “Emergence Date”), and (ii) following the Emergence Date, approximately $60,000 per day while the rig is employed under a contract and generating revenues for Seadrill and approximately $40,000 in all other scenarios, including when the rig is idle or undergoing mobilization or demobilization. Pursuant to the amendment agreement, Seadrill has agreed to fund the mobilization and demobilization of the rig, which is expected to occur during the charter period. Seadrill is expected to seek bankruptcy court approval of the amendment agreement on or before September 2, 2021, which is a condition precedent to the effectiveness to the amendment agreement. Each of SFL’s financing banks consented to the amendment agreement, and SFL’s limited corporate guarantee of the outstanding debt of the rig owning subsidiary remains unchanged at $83 million. Additionally, SFL agreed to a cash contribution of $5 million to the SFL Hercules's pledged earnings account at the time of redelivery following the termination of the Seadrill charter, in addition to a $3 million payable by Seadrill. Separately, on July 24, 2021, Seadrill announced that it had entered into a plan support agreement (the “PSA”) with certain of its senior secured lenders holding approximately 57.8% of its senior secured loans. The PSA includes a milestone for bankruptcy court approval of the plan by November 5, 2021. While no assurances can be provided with regards to the outcome of Seadrill’s Chapter 11 process, or whether Seadrill will be able to fulfill its obligations under its agreements with us, including under the amendment agreement (which is subject to bankruptcy court approval) or the PSA, SFL continues to have constructive dialogue with Seadrill, including in respect of the West Linus , which is on a sub-charter to an oil major in the North Sea until the end of 2028. In July 2021, the Company received notices of the intention to exercise the purchase options on 18 feeder container vessels currently on long term charter to MSC. Six of the vessels have been delivered to MSC and the remaining vessels are expected to be delivered by the end of the third quarter of 2021. In July 2021, the Company issued 528,447 shares under the ATM and DRIP which were subscribed at the end of June 2021.

INTERIM FINANCIAL DATA (Policie

INTERIM FINANCIAL DATA (Policies)	6 Months Ended
	Jun. 30, 2021
INTERIM FINANCIAL DATA [Abstract]
Basis of accounting	Basis of accounting The condensed consolidated financial statements are prepared in accordance with US GAAP. The condensed consolidated financial statements include the assets and liabilities and results of operations of the Company and its subsidiaries including variable interest entities in which SFL is deemed to be the primary beneficiary. All inter-company balances and transactions have been eliminated on consolidation. The condensed consolidated financial statements are prepared in accordance with the accounting policies described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2020.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In the six months ended June 30, 2021, the Company adopted the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) which became effective for the Company on January, 1, 2021. The Company adopted ASU 2019-12 "Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes", ASU 2020-01 "'Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815", ASU 2020-08 "Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs", ASU 2020-10 "Codification Improvements" and ASU 2021-01 "Reference Rate Reform (Topic 848): Scope". These adopted pronouncements introduced changes to a wide variety of topics but had no material impact to the Company’s condensed consolidated financial position, results of operations or cash flows contained in this report.
Recently Issued Accounting Standards	Recently Issued Accounting Standards The following is a brief discussion of on a selection of recently released accounting pronouncements that are pertinent to the Company's business: In July 2021, the FASB issued ASU No. 2021-05, "Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments" ("ASU 2021-05"). This new standard amends the lease classification requirements for lessors to align them with practice under ASC Topic 840. Lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both of the following criteria are met: (1) The lease would have been classified as a sales-type lease or a direct financing lease in accordance with the classification criteria in ASC paragraphs 842-10-25-2 through 25-3; and (2) The lessor would have otherwise recognized a day-one loss. When a lease is classified as operating, the lessor does not recognize a net investment in the lease, does not derecognize the underlying asset, and, therefore, does not recognize a selling profit or loss. ASU 2021-05 is effective for fiscal years and interim periods beginning after December 15, 2021. The Company does not expect the adoption of ASU 2021-05 will have a material effect on the consolidated financial statements. In May 2021, the FASB issued ASU No. 2021-04, "Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options" ("ASU 2021-04"). This new standard provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. It specifically addresses: (1) How an entity should treat a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; (2) How an entity should measure the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; and (3) How an entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange. ASU 2021-04 is effective for fiscal years and interim periods beginning after December 15, 2021. The Company does not expect the adoption of ASU 2021-04 will have a material effect on the consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting". Accounting Standards Codification (“ASC”) 848 provided temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to reduce the financial reporting burden in light of the market transition from London Interbank Offered Rates (“LIBOR”) and other reference interest rates to alternative reference rates. Under ASC 848, companies can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform if certain criteria are met. An entity that makes this election would not be required to remeasure the contracts at the modification date or reassess a previous accounting determination. The amendments of ASC 848 apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU 2021-01, which clarified the scope of Topic 848 in relation to derivative instruments and contract modifications. The amendments in these updates are elective and are subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in these updates are effective for all entities since March 12, 2020 through to December 31, 2022. The Company has determined that the reference rate reform will impact its floating rate debt facilities and interest rate swaps contracts. In order to preserve the presentation of derivatives consistent with past presentation, the Company expects to take advantage of the expedients and exceptions provided by the updates when LIBOR is discontinued and replaced with alternative reference rates.
Significant Accounting Policies - Update	Significant Accounting Policies - Update Our significant accounting policies are described in "Note 2: Accounting Policies" of our Annual Report on Form 20-F for the year ended December 31, 2020
Use of Estimates	Use of Estimates The preparation of financial statements in conformity 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Management of the Company believes that the accounting estimates and assumptions that have been made are appropriate given the increased uncertainties surrounding the severity and duration of the impacts of the COVID-19 pandemic. However actual results could differ materially from those estimates.

EARNINGS_(LOSS) PER SHARE (Tabl

EARNINGS/(LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of components of calculation of earnings per share	The components of the numerator for the calculation of basic and diluted EPS are as follows: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Basic earnings/(loss) per share: Net income/(loss) available to stockholders 51,009 (75,156) Diluted earnings/(loss) per share: Net income/(loss) available to stockholders 51,009 (75,156) Interest and other expenses attributable to dilutive convertible notes (206) — Net income/(loss) assuming dilution 50,803 (75,156) The components of the denominator for the calculation of basic and diluted EPS are as follows: Six months ended (in thousands) June 30, 2021 June 30, 2020 Basic earnings per share: Weighted average number of common shares outstanding* 117,421 107,776 Diluted earnings per share: Weighted average number of common shares outstanding* 117,421 107,776 Effect of dilutive convertible notes 15 — Weighted average number of common shares outstanding assuming dilution 117,436 107,776 Six months ended June 30, 2021 June 30, 2020 Basic earnings/(loss) per share: $ 0.43 $ (0.70) Diluted earnings/(loss) per share: $ 0.43 $ (0.70) *The weighted average number of common shares outstanding excludes 8,000,000 shares issued as part of a share lending arrangement relating to the Company's issuance of 5.75% senior unsecured convertible notes in October 2016. It also excludes 3,765,842 shares issued as of June 30, 2021 from up to 7,000,000 shares issuable under a share lending arrangement relating to the Company's issuance of 4.875% senior unsecured convertible notes in April and May 2018. These lent shares are owned by the Company and will be returned on or before maturity of the bonds in 2021 and 2023, respectively. As at June 30, 2021, the outstanding options under the Company's Share Option Scheme and the 5.75% senior unsecured convertible bonds due 2021 were anti-dilutive.

OTHER FINANCIAL ITEMS (Tables)

OTHER FINANCIAL ITEMS (Tables)	6 Months Ended
	Jun. 30, 2021
Other Financial Items [Abstract]
Schedule of other financial items, net	Other financial items, net comprise the following items: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Net cash movement on non-designated derivatives and swap settlements (3,558) (5,756) Net increase/(decrease) in fair value of non-designated derivatives 6,937 (25,864) Allowance for expected credit losses 716 (68) Other items (338) 105 Total other financial items, net 3,757 (31,583)

INVESTMENTS IN DEBT AND EQUIT_2

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of marketable securities	Investment securities held by the Company consist of the following investments in corporate bonds and equity securities: (in thousands of $) June 30, 2021 December 31, 2020 Corporate Bonds 8,293 9,431 Equity Securities 14,512 19,374 Total Investment in Debt and Equity Securities 22,805 28,805
Schedule of debt securities, available-for-sale	The corporate bonds are classified as available-for-sale securities and are recorded at fair value, with unrealized gains and losses recorded as a separate component of "Other comprehensive income". Six months ended June 30, 2021 Year ended December 31, 2020 (in thousands of $) Amortized Cost Unrealized gains/(losses) Fair value Amortized Cost Unrealized gains/(losses) Fair value Corporate bonds: NorAm Drilling Bond 4,132 488 4,620 4,132 511 4,643 NT Rig Holdco 12% 3,567 106 3,673 3,567 404 3,971 NT Rig Holdco 7.5% — — — 817 — 817 Total corporate bonds 7,699 594 8,293 8,516 915 9,431
Schedule of debt and equity securities	Changes in the fair value of equity investments are recognized in net income. (in thousands of $) June 30, 2021 December 31, 2020 Frontline 13,032 9,007 NorAm Drilling 1,480 1,484 ADS Maritime Holding — 8,883 Total Equity Securities 14,512 19,374 Equity Securities pledged to creditors 13,032 9,007

VESSELS AND EQUIPMENT, NET (Tab

VESSELS AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of movements of vessels and equipment	Movements in the six months ended June 30, 2021 are summarized as follows: (in thousands of $) Cost Accumulated Depreciation Vessels and Equipment, net Balance at December 31, 2020 1,693,171 (452,473) 1,240,698 Depreciation — (39,908) (39,908) Capital improvements 12,623 — 12,623 Reclassification from investments in direct financing leases 355,635 — 355,635 Transfer to assets held for sale (5,500) — (5,500) Balance at June 30, 2021 2,055,929 (492,381) 1,563,548

VESSELS UNDER FINANCE LEASE, _2

VESSELS UNDER FINANCE LEASE, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Finance Lease	Movements in the six months ended June 30, 2021 are summarized as follows: (in thousands of $) Cost Accumulated Depreciation Vessels under Finance Lease, net Balance at December 31, 2020 777,939 (80,559) 697,380 Depreciation — (20,484) (20,484) Balance at June 30, 2021 777,939 (101,043) 676,896

INVESTMENTS IN SALES-TYPE LEA_2

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Net Investment in Direct Financing and Sales Type Leases [Abstract]
Schedule of sales-type leases, direct financing leases, and leaseback assets	The following lists the components of investments in sales-type leases, direct financing leases and leaseback assets as at June 30, 2021 and December 31, 2020: (in thousands of $) June 30, 2021 Sales-Type Leases and Direct Financing Leases Leaseback Assets Total Total minimum lease payments to be received 209,368 72,144 281,512 Less : amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (37,440) — (37,440) Net minimum lease payments receivable 171,928 72,144 244,072 Estimated residual values of leased property (unguaranteed) 79,621 31,500 111,121 Less : unearned income (31,320) (22,590) (53,910) Total investment in sales-type lease, direct financing lease and leaseback assets 220,229 81,054 301,283 Allowance for expected credit losses* (810) (182) (992) Total investment in sales-type lease, direct financing lease and leaseback assets 219,419 80,872 300,291 Current portion 31,619 9,889 41,508 Long-term portion 187,800 70,983 258,783 (in thousands of $) December 31, 2020 Sales-Type Leases and Direct Financing Leases Leaseback Assets Total Total minimum lease payments to be received 705,196 79,786 784,982 Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (40,698) — (40,698) Net minimum lease payments receivable 664,498 79,786 744,284 Estimated residual values of leased property (unguaranteed) 79,621 31,500 111,121 Less: unearned income (147,876) (25,596) (173,472) Total investment in sales-type lease, direct financing lease and leaseback assets 596,243 85,690 681,933 Allowance for expected credit losses* (4,141) (249) (4,390) Total investment in sales-type lease, direct financing lease and leaseback assets 592,102 85,441 677,543 Current portion 45,888 9,532 55,420 Long-term portion 546,214 75,909 622,123 *See Note 1: Interim financial data and Note 18: Allowance for expected credit losses.

INVESTMENTS IN ASSOCIATED COM_2

INVESTMENTS IN ASSOCIATED COMPANIES (Tables)	6 Months Ended
	Jun. 30, 2021
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Schedule of percentage participation using the equity method of accounting	At June 30, 2021, June 30, 2020 and December 31, 2020 the Company had the following participation in investments that were recorded using the equity method: June 30, 2021 June 30, 2020 December 31, 2020 River Box Holding Inc. ("River Box") 49.90 % † 49.90 % SFL Deepwater Ltd (“SFL Deepwater”) * 100.00 % * SFL Hercules Ltd (“SFL Hercules”) 100.00 % 100.00 % 100.00 % SFL Linus Ltd (“SFL Linus”) * 100.00 % * † River Box was a previously wholly owned subsidiary of the Company. River Box holds investments in direct financing leases, through its subsidiaries, in relation to the 19,200 and 19,400 TEU containerships MSC Anna , MSC Viviana , MSC Erica and MSC Reef . On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen, a related party and has accounted for the remaining 49.9% ownership in River Box using the equity method. * SFL Hercules and SFL Linus own the drilling units West Hercules and West Linus respectively which are on charter to subsidiaries of Seadrill. SFL Deepwater owns the drilling unit West Taurus which was also on charter to a subsidiary of Seadrill until the first quarter of 2021. All three entities were previously determined to be variable interest entities in which the Company was not the primary beneficiary and thus accounted for using the equity method. In October 2020, the Company was determined to be the primary beneficiary of SFL Linus and SFL Deepwater following changes to the financing agreements and as a result of defaults by Seadrill. Therefore, from October 2020 these two subsidiaries were consolidated by the Company.
Schedule of summarized financial statement information of equity method investees	Summarized balance sheet information of the Company’s equity method investees is as follows: As of June 30, 2021 (in thousands of $) TOTAL River Box SFL Hercules Share presented 49.90 % 100.00 % Current assets 21,617 13,602 8,015 Non-current assets 517,381 253,457 263,924 Total assets 538,998 267,059 271,939 Current liabilities 30,618 12,921 17,697 Non-current liabilities 479,239 237,487 241,752 Total liabilities 509,857 250,408 259,449 Total stockholders’ equity 29,141 16,651 12,490 As of December 31, 2020 (in thousands of $) TOTAL River Box SFL Hercules Share presented 49.90 % 100.00 % Current assets 34,763 12,475 22,288 Non-current assets 513,918 258,865 255,053 Total assets 548,681 271,340 277,341 Current liabilities 199,255 12,569 186,686 Non-current liabilities 322,129 243,219 78,910 Total liabilities 521,384 255,788 265,596 Total stockholders’ equity 27,297 15,552 11,745 Summarized statement of operations information of the Company’s equity method investees is as follows: Six months ended June 30, 2021 (in thousands of $) TOTAL River Box SFL Hercules Share presented 49.90 % 100.00 % Operating revenues 20,141 10,076 10,065 Net operating revenues 15,082 10,065 5,017 Net income 2,564 1,819 745 Six months ended June 30, 2020 (in thousands of $) TOTAL SFL Deepwater SFL Hercules SFL Linus Share presented 100.00 % 100.00 % 100.00 % Operating revenues 28,315 8,207 8,157 11,951 Net operating revenues 28,315 8,207 8,157 11,951 Net income/(loss) 6,246 (721) 2,341 4,626
Schedule of allowance for expected credit losses in associates	Movements in the six months ended June 30, 2021 in the allowance for expected credit losses can be summarized as follows: (in thousands of $) TOTAL River Box SFL Hercules Share presented 49.90 % 100.00 % Balance at December 31, 2020 3,421 786 2,635 Reclassification to owned vessels within the associate (1,896) — (1,896) Allowance recorded in net income of associated companies (551) (381) (170) Balance at June 30, 2021 974 405 569

OTHER LONG TERM ASSETS (Tables)

OTHER LONG TERM ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Long-Term Assets	Other long term assets comprise of the following items: (in thousands of $) June 30, 2021 December 31, 2020 Capital improvements in progress 1,595 10,099 Collateral deposits on swap agreements 9,697 398 Value of acquired charter-out contracts, net 9,067 10,503 Long term receivables — — Other 960 961 Total Other Long Term Assets 21,319 21,961

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2021
Long-term Debt, by Current and Noncurrent [Abstract]
Schedule of short-term and long-term debt	(in thousands of $) June 30, 2021 December 31, 2020 Long-term debt: 5.75% senior unsecured convertible notes due 2021 146,919 212,230 4.875% senior unsecured convertible notes due 2023 137,900 139,900 7.25% senior unsecured sustainability-linked bonds due 2026 150,000 — NOK700 million senior unsecured floating rate bonds due 2023 81,238 81,572 NOK700 million senior unsecured floating rate bonds due 2024 80,657 80,989 NOK600 million senior unsecured floating rate bonds due 2025 62,669 62,927 Borrowings secured on Frontline shares 15,639 15,639 Total Fixed Rate and Foreign Debt 675,022 593,257 U.S. dollar denominated floating rate debt due through 2025 1,020,471 1,070,137 Total debt principal 1,695,493 1,663,394 Less: Unamortized debt issuance costs (13,770) (14,325) Less: Current portion of long-term debt (369,552) (484,956) Total long-term debt 1,312,171 1,164,113 Movements in the period: (in thousands of $) Fixed Rate and Foreign Debt U.S. Dollar Floating Rate Debt Total debt principal Balance at December 31, 2020 593,257 1,070,137 1,663,394 Drawdowns 150,000 102,000 252,000 Repayments and redemptions (67,311) (151,666) (218,977) Effects of foreign exchange (924) — (924) Balance at June 30, 2021 675,022 1,020,471 1,695,493
Schedule of interest rate information	June 30, 2021 December 31, 2020 Weighted average interest rate* 2.85 % 2.91 % US Dollar London Interbank Offered Rate ("LIBOR"), 3-Month, closing rate 0.15 % 0.24 % Norwegian Interbank Offered Rate ("NIBOR"), 3-Month, closing rate 0.20 % 0.49 % *The weighted average interest rate is for floating rate debt denominated in U.S. dollars and Norwegian kroner (“NOK”) which takes into consideration the effect of related interest rate swaps.
Schedule of fixed rate and foreign debt redemptions	Fixed Rate and Foreign Debt Redemptions between January 1, 2021 and June 30, 2021 Bond In Millions of USD 4.875% senior unsecured convertible notes due 2023 2.0 5.75% senior unsecured convertible notes due 2021 65.3
Schedule of floating rate debt new facilities and redemptions	U.S. Dollar Floating Rate Debt New facilities entered into between January 1, 2021 and June 30, 2021: Name of facility Draw down Number of wholly owned subsidiaries entering into the facility Term Balance outstanding at period end ($ millions) $51 million term loan facility Feb. 2021 one 4 years 49.9 $51 million term loan facility Apr. 2021 one 4 years 51.0 The Company has provided limited corporate guarantees for the above facilities, which bear interest at LIBOR plus a margin. Facilities redeemed between January 1, 2021 and June 30, 2021: Name of facility Original draw down date Number of wholly owned subsidiaries that had entered into the facility Original Term Amount redeemed ($ millions) $210 million secured term loan facility Nov. 2015 three 5 years 99.5

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair values of derivative instruments designated and not designated as cash flow hedges	The following table presents the fair values of the Company’s derivative instruments that were designated as cash flow hedges and qualified as part of a hedging relationship, and those that were not designated: (in thousands of $) June 30, 2021 December 31, 2020 Designated derivative instruments - long-term assets: Interest rate swaps 587 — Cross currency interest rate swaps 93 28 Cross currency swaps 2,988 3,373 Non-designated derivative instruments - long-term assets: Cross currency swaps 7 5 Total derivative instruments - long-term assets 3,675 3,406 (in thousands of $) June 30, 2021 December 31, 2020 Designated derivative instruments - short-term liabilities: Interest rate swaps 369 703 Non-designated derivative instruments - short-term liabilities: Interest rate swaps 1,345 869 Total derivative instruments - short-term liabilities 1,714 1,572 Designated derivative instruments - long-term liabilities: Interest rate swaps 4,755 7,926 Cross currency interest rate swaps 2,246 3,006 Cross currency swaps 8,288 8,301 Non-designated derivative instruments - long-term liabilities: Interest rate swaps 6,068 13,479 Total derivative instruments - long-term liabilities 21,357 32,712
Schedule of currency swap transactions	Principal Receivable Principal Payable Trade date Maturity date NOK600 million US$76.8 million September 2018 September 2023 NOK100 million US$11.3 million August 2019 September 2023 NOK700 million US$80.5 million May 2019 June 2024 NOK600 million US$67.5 million January 2020 January 2025
Schedule of carrying value and estimated fair value of financial assets and liabilities	The carrying value and estimated fair value of the Company’s financial assets and liabilities at June 30, 2021 and December 31, 2020 are as follows: June 30, 2021 December 31, 2020 (in thousands of $) Carrying value Fair value Carrying value Fair value Non-derivatives: Available-for-sale debt securities 8,293 8,293 9,431 9,431 Equity securities 1,480 1,480 10,367 10,367 Equity securities pledged to creditors 13,032 13,032 9,007 9,007 Floating rate NOK bonds due 2023 (81,238) (80,831) (81,572) (78,513) Floating rate NOK bonds due 2024 (80,657) (80,052) (80,989) (76,940) Floating rate NOK bonds due 2025 (62,669) (60,632) (62,927) (57,421) 5.75% unsecured convertible notes due 2021 (146,919) (145,450) (212,230) (199,496) 4.875% unsecured convertible notes due 2023 (137,900) (137,470) (139,900) (123,112) 7.25% unsecured bonds due 2026 (150,000) (151,125) — — Derivatives: Interest rate/currency swap contracts - long-term receivables 3,675 3,675 3,406 3,406 Interest rate/currency swap contracts - short-term payables (1,714) (1,714) (1,572) (1,572) Interest rate/currency swap contracts - long-term payables (21,357) (21,357) (32,712) (32,712)
Schedule of financial assets and liabilities measured at fair value on a recurring basis	The fair values of financial assets and liabilities as at June 30, 2021, were measured as follows: Fair value measurements using, (in thousands of $) June 30, 2021 Quoted Prices in Significant Other Significant Assets: Available-for-sale debt securities 8,293 4,620 3,673 Equity securities 1,480 1,480 Equity securities pledged to creditors 13,032 13,032 Interest rate/ currency swaps, long-term receivables 3,675 3,675 Total assets 26,480 19,132 7,348 — Liabilities: Floating rate NOK bonds due 2023 (80,831) (80,831) Floating rate NOK bonds due 2024 (80,052) (80,052) Floating rate NOK bonds due 2025 (60,632) (60,632) 5.75% unsecured convertible notes due 2021 (145,450) (145,450) 4.875% unsecured convertible notes due 2023 (137,470) (137,470) 7.25% unsecured sustainability-linked bonds due 2026 (151,125) (151,125) Interest rate/currency swaps, short-term payables (1,714) (1,714) Interest rate/currency swaps, long-term payables (21,357) (21,357) Total liabilities (678,631) (655,560) (23,071) —
Schedule of concentration of revenue risk	There is also a concentration of revenue risk with the below customers to whom the Company has chartered multiple vessels. Charterer Number of Vessels chartered at June 30, 2021 % of consolidated operating revenues (Six months ended June 30, 2021) % of consolidated operating revenues (Six months ended June 30, 2020) Golden Ocean Group Limited (“Golden Ocean”)* 8 12 % 11 % MSC 28 3 % 13 % Maersk Line A/S (“Maersk”) 12 33 % 28 % Evergreen 4 15 % 14 % * Additionally see Note 17: Related party transactions.

SHARE CAPITAL, ADDITIONAL PAI_2

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Tables)	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of Share Capital	Authorized share capital is as follows: (in thousands of $, except share data) June 30, 2021 December 31, 2020 300,000,000 common shares of $0.01 par value each (December 31, 2020: 300,000,000 shares of $0.01 par value each) 3,000 3,000 Issued and fully paid share capital is as follows: (in thousands of $, except share data) June 30, 2021 December 31, 2020 138,022,940 common shares of $0.01 par value each (December 31, 2020: 127,810,064 shares of $0.01 par value each) 1,380 1,278

FINANCE LEASE LIABILITY (Tables

FINANCE LEASE LIABILITY (Tables)	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Schedule of finance lease liabilities	(in thousands of $) June 30, 2021 December 31, 2020 Finance lease liability, current portion 50,025 48,887 Finance lease liability, long-term portion 498,823 524,200 548,848 573,087

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Schedule of amounts due from and to related parties, excluding direct financing lease balances	The Condensed Consolidated Balance Sheets include the following amounts due from and to related parties and associated companies, excluding investment in direct financing lease balances (refer to Note 9: Investments in sales-type leases, direct financing leases and leaseback assets). (in thousands of $) June 30, 2021 December 31, 2020 Amounts due from: Frontline Shipping — 2,875 Frontline 3,093 3,202 Seadrill 2,773 3,613 Seatankers 181 — River Box 5 — SFL Hercules 213 — Golden Ocean 1,230 — Other related parties — 2 Allowance for expected credit losses* (2,653) (1,974) Total amount due from related parties 4,842 7,718 Loans to related parties - associated companies, long-term River Box 45,000 45,000 SFL Hercules 80,000 78,910 Loans and long term receivables to related parties including associates 125,000 123,910 Amounts due to: Frontline Shipping 1,204 836 Frontline 75 1,826 Golden Ocean — 23 Other related parties 50 39 Total amount due to related parties 1,329 2,724 * See Note 18: Allowance for expected credit losses.
Schedule of related party leasing revenues and repayments	A summary of leasing revenues and repayments from Frontline Shipping and Golden Ocean is as follows: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Golden Ocean: Operating lease income 25,261 26,663 Profit share 1,244 — Frontline Shipping: Direct financing lease interest income 766 946 Direct financing lease service revenue 3,258 3,591 Direct financing lease repayments 3,176 3,403 Profit share 268 10,358
Schedule of fees with related parties	In addition to leasing revenues and repayments, the Company incurred the following fees with related parties: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Frontline: Vessel Management Fees 4,249 4,592 Newbuilding Supervision Fees 16 — Commissions and Brokerage 96 178 Administration Services Fees 59 37 Golden Ocean: Vessel Management Fees 10,136 10,192 Operating Management Fees 355 466 Administration Services Fees 33 32 Seatankers: Administration Services Fees* 113 206 Office Facilities: Seatankers Management Norway AS 54 47 Frontline Management AS 118 96 Frontline Corporate Services Ltd. 71 169 * In addition a credit note of $0.3 million
Schedule of related party loans – associated companies	Related party loans – associated companies A summary of loans entered into with River Box and SFL Hercules are as follows: (in millions of $) River Box SFL Hercules Loans granted 45 145 Loans outstanding at June 30, 2021 45 80 The loans to River Box and SFL Hercules are fixed interest rate loans. These loans are repayable in full on October 1, 2023 (SFL Hercules) and November 16, 2033 (River Box) or earlier if the companies sell their assets. Interest income received on the loans to associated companies is as follows: Six months ended (in millions of $) June 30, 2021 June 30, 2020 River Box 2.3 — SFL Deepwater* — 2.5 SFL Hercules 1.8 1.8 SFL Linus* — 2.7 *In October 2020, the Company was determined to be the primary beneficiary of SFL Linus and SFL Deepwater following changes to the financing agreements and as a result of defaults by Seadrill and therefore consolidated these entities from this date.
Schedule of interest income on related party loan notes	The Company received the following interest income on the loan notes: Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Frontline Shipping — 82 Frontline — 97
Schedule of dividends and interest income received from shares held in and secured notes issued by related parties	Six months ended (in thousands of $) June 30, 2021 June 30, 2020 Dividends received ADS Maritime Holding — 1,508 Frontline — 2,376 Interest income received NorAm Drilling — 210

ALLOWANCE FOR EXPECTED CREDIT_2

ALLOWANCE FOR EXPECTED CREDIT LOSSES (Tables)	6 Months Ended
	Jun. 30, 2021
Credit Loss [Abstract]
Schedule Of Balance Sheet Items, Allowance for Credit Loss	The following table presents the impact of the allowance for expected credit losses on the Company's balance sheet line items for the six months ended June 30, 2021. (in thousands of $) Trade receivables Other receivables Related Party receivables Investment in sales-type, direct financing leases and leaseback assets Other long-term assets Total Balance at December 31, 2020 33 881 1,973 4,390 1,894 9,171 Reclassification to 'vessels and equipment, net' — — — (2,030) — (2,030) Change in allowance recorded in 'other financial items' 40 (68) 680 (1,368) — (716) Balance at June 30, 2021 73 813 2,653 992 1,894 6,425

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of assets pledged	Assets Pledged (in millions of $) June 30, 2021 December 31, 2020 Vessels and equipment, net 1,518 1,189 Investments in sales-type, direct financing leases and leaseback assets 299 675 Book value of consolidated assets pledged under ship mortgages 1,817 1,864
Schedule of assets with finance lease liabilities	Assets with finance lease liabilities (in millions of $) June 30, 2021 December 31, 2020 Vessels under finance lease, net 677 697 Total book value 677 697

GAIN_(LOSS) ON SALE OF ASSETS_2

GAIN/(LOSS) ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Narrative) (Details) $ in Millions	1 Months Ended	6 Months Ended
	Feb. 29, 2020USD ($)	Jun. 30, 2021vessel	Jun. 30, 2020USD ($)vessel
Other Income And Expenses
Number of vessels sold		0
Gain recorded in relation to sale of vessels | $			$ 2.3
Front Hakata
Other Income And Expenses
Number of vessels sold			1
Gain recorded in relation to sale of vessels | $	$ 1.4
Sea Cheetah, Sea Jaguar, Sea Halibut, Sea Pike and Sea Leopard
Other Income And Expenses
Number of vessels sold			5

EARNINGS_(LOSS) PER SHARE (Comp

EARNINGS/(LOSS) PER SHARE (Components of EPS) (Details) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income/(loss) available to stockholders	$ 51,009	$ (75,156)
Interest and other expenses attributable to dilutive convertible notes	(206)	0
Net income/(loss) assuming dilution	$ 50,803	$ (75,156)
Weighted average number of common shares outstanding (in shares)	117,421	107,776
Effect of dilutive convertible notes (in shares)	15	0
Weighted average number of common shares outstanding assuming dilution (in shares)	117,436	107,776

EARNINGS_(LOSS) PER SHARE (Narr

EARNINGS/(LOSS) PER SHARE (Narrative) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	May 31, 2018	Oct. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic (loss)/earnings per share	$ 0.43	$ (0.70)
Diluted (loss)/earnings per share	$ 0.43	$ (0.70)
5.75% senior unsecured convertible notes due 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued shares excluded from weighted average common shares outstanding				8,000,000
Interest rate			5.75%
4.875% senior unsecured convertible notes due 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued shares excluded from weighted average common shares outstanding	3,765,842
Interest rate			4.875%
Shares issuable under a share lending arrangement	7,000,000

OTHER FINANCIAL ITEMS (Summary

OTHER FINANCIAL ITEMS (Summary of Other Financial Items) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Other Financial Items [Abstract]
Net cash movement on non-designated derivatives and swap settlements	$ (3,558)	$ (5,756)
Net increase/(decrease) in fair value of non-designated derivatives	6,937	(25,864)
Allowance for expected credit losses	716	(68)
Other items	(338)	105
Total other financial items, net	$ 3,757	$ (31,583)

OTHER FINANCIAL ITEMS (Narrativ

OTHER FINANCIAL ITEMS (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Other Financial Items [Abstract]
Gain from foreign currency translation	$ 0.1	$ 0.9

INVESTMENTS IN DEBT AND EQUIT_3

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Summary of debt and equity securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Corporate Bonds	$ 8,293	$ 9,431
Equity Securities	14,512	19,374
Investments in debt and equity securities	$ 22,805	$ 28,805

INVESTMENTS IN DEBT AND EQUIT_4

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Amortized cost to fair value) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Face value of bonds	$ 8,293	$ 9,431
Corporate Bond Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	7,699	8,516
Unrealized gains/(losses)	594	915
Face value of bonds	8,293	9,431
NorAm Drilling Bond
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,132	4,132
Unrealized gains/(losses)	488	511
Face value of bonds	4,620	4,643
NT Rig Holdco 12%
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,567	3,567
Unrealized gains/(losses)	106	404
Face value of bonds	3,673	3,971
NT Rig Holdco 7.5%
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0	817
Unrealized gains/(losses)	0	0
Face value of bonds	$ 0	$ 817

INVESTMENTS IN DEBT AND EQUIT_5

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Narrative) (Details) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)vessel	Jun. 30, 2021USD ($)vesselshares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019shares	Jun. 30, 2020USD ($)
Debt Securities, Available-for-sale [Line Items]
Impairment loss			$ (4.9)
Number of vessels sold | vessel		0
ADS Maritime Holding
Debt Securities, Available-for-sale [Line Items]
Proceeds from dividends received	$ 8.8
Number of vessels sold | vessel	2
Corporate Bond Securities Oro Negro 12%
Debt Securities, Available-for-sale [Line Items]
Debt instrument, redemption price (in percentage)			12.00%
Oro Negro 7.5%
Debt Securities, Available-for-sale [Line Items]
Debt instrument, redemption price (in percentage)			7.50%
NT Rig Holdco 12%
Debt Securities, Available-for-sale [Line Items]
Debt instrument, redemption price (in percentage)			12.00%
Purchase of corporate bonds			$ 1.3
NT Rig Holdco 7.5%
Debt Securities, Available-for-sale [Line Items]
Debt instrument, redemption price (in percentage)			7.50%
Impairment loss		$ (0.8)
ADS Maritime Holding | Equity Securities
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale of equity securities	$ 0.8
Common Stock, ADS
Debt Securities, Available-for-sale [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	$ 0.7
Common stock - Frontline Ltd
Debt Securities, Available-for-sale [Line Items]
Investment owned, balance (in shares) | shares			1,400,000
Number of shares repurchased in forward contract (in shares) | shares		1,400,000		3,400,000
Principal debt amount		$ 15.6	$ 15.6		$ 36.8
Sale of stock (in shares) | shares			2,000,000
Proceeds from sale and maturity of equity securities			$ 21.1
Debt and equity securities, realized gain			2.3
Forward contract to repurchase shares			$ 16.2
Common stock - Frontline Ltd | Frontline Forward Contract
Debt Securities, Available-for-sale [Line Items]
Investment owned, balance (in shares) | shares		1,400,000
Forward contract to repurchase shares		$ 16.3

INVESTMENTS IN DEBT AND EQUIT_6

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Equity instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity securities	$ 14,512	$ 19,374
Equity securities pledged to creditors	13,032	9,007
Frontline
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity securities	13,032	9,007
NorAm Drilling
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity securities	1,480	1,484
ADS Maritime Holding
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity securities	$ 0	$ 8,883

VESSELS AND EQUIPMENT, NET (Sum

VESSELS AND EQUIPMENT, NET (Summary of Vessels and Equipment, Net) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation	$ (60,392)	$ (55,298)
Cost | Vessels and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, gross, beginning balance	1,693,171
Depreciation	0
Capital improvements	12,623
Reclassification from investments in direct financing leases	355,635
Transfer to assets held for sale	(5,500)
Property, Plant and Equipment, gross, ending balance	2,055,929		$ 1,693,171
Accumulated Depreciation | Vessels and equipment
Property, Plant and Equipment [Line Items]
Accumulated Depreciation	492,381		452,473
Depreciation	(39,908)
Capital improvements	0
Reclassification from investments in direct financing leases	0
Transfer to assets held for sale	0
Vessels and Equipment, net | Vessels and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, net, beginning balance	1,240,698
Depreciation	(39,908)
Capital improvements	12,623
Reclassification from investments in direct financing leases	355,635
Transfer to assets held for sale	(5,500)
Property, Plant and Equipment, net, ending balance	$ 1,563,548		$ 1,240,698

VESSELS AND EQUIPMENT, NET (Nar

VESSELS AND EQUIPMENT, NET (Narrative) (Details)	6 Months Ended
	Jun. 30, 2021USD ($)vesselnumberOfDrillingUnitsdrillingRig	Jun. 30, 2020USD ($)vessel
Property, Plant and Equipment [Line Items]
Number of vessels for which costs have been capitalized | vessel	6
Number of drilling units | drillingRig	2
Vessel impairment charge	$ 1,927,000	$ 80,511,000
SFL Deepwater Ltd (“SFL Deepwater”)
Property, Plant and Equipment [Line Items]
Vessel impairment charge	1,900,000
All vessels classified under vessels and equipment
Property, Plant and Equipment [Line Items]
Vessel impairment charge	$ 0
handysize bulk carriers [Member]
Property, Plant and Equipment [Line Items]
Vessel impairment charge		$ 80,300,000
Number of vessels for which impairment has been recognized | vessel		7
West Linus
Property, Plant and Equipment [Line Items]
Number of drilling units reclassified from direct financing lease to vessels and equipment | numberOfDrillingUnits	1
Cost | Vessels and equipment
Property, Plant and Equipment [Line Items]
Capital improvements	$ 12,623,000
Reclassification from investments in direct financing leases	355,635,000
Vessels and Equipment, net | Vessels and equipment
Property, Plant and Equipment [Line Items]
Capital improvements	12,623,000
Reclassification from investments in direct financing leases	$ 355,635,000

NEWBUILDINGS AND VESSEL PURCH_2

NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS - Narrative (Details) $ in Thousands	1 Months Ended	6 Months Ended
	Mar. 31, 2021USD ($)	Jun. 30, 2021USD ($)carrier	Jun. 30, 2020USD ($)
Property, Plant and Equipment [Line Items]
Total installments paid | $		$ 14,500
Number of dual-fuel car carriers | carrier		2
Investment in newbuilding contracts and vessel deposits | $	$ 4,300	$ 18,783	$ 0
Volkswagen Group
Property, Plant and Equipment [Line Items]
Number of dual-fuel car carriers | carrier		2
Term of lease or charter		10 years

VESSELS UNDER FINANCE LEASE, _3

VESSELS UNDER FINANCE LEASE, NET (Summary) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Finance lease, right-of-use asset, before accumulated depreciation, beginning balance	$ 777,939
Finance Lease, right-of-use asset, accumulated depreciation, beginning balance	80,559
Finance lease, right-of-use asset, after accumulated amortization, beginning balance	697,380
Depreciation	(60,392)	$ (55,298)
Finance lease, right-of-use asset, before accumulated depreciation, ending balance	777,939
Finance Lease, right-of-use asset, accumulated depreciation, ending balance	101,043
Finance lease, right-of-use asset, after accumulated amortization, ending balance	676,896
Vessels Under Finance Lease, Cost
Property, Plant and Equipment [Line Items]
Depreciation	0
Vessels Under Finance Lease, Accumulated Depreciation
Property, Plant and Equipment [Line Items]
Depreciation	(20,484)
Vessels Under Finance Lease, Net
Property, Plant and Equipment [Line Items]
Depreciation	$ (20,484)

VESSELS UNDER FINANCE LEASE, _4

VESSELS UNDER FINANCE LEASE, NET (Narrative) (Details)	6 Months Ended
	Jun. 30, 2021vesselcontainership
Property, Plant and Equipment [Line Items]
Number of container vessels accounted for as right of use assets | vessel	7
Number of years before option to buy vessel is available	6 years
Minimum
Property, Plant and Equipment [Line Items]
Term of lease or charter	6 years
Maximum
Property, Plant and Equipment [Line Items]
Term of lease or charter	11 years
13,800 TEU Containership
Property, Plant and Equipment [Line Items]
Number of container vessels accounted for as right of use assets	4
10,600 TEU Containership
Property, Plant and Equipment [Line Items]
Number of container vessels accounted for as right of use assets	3

INVESTMENTS IN SALES-TYPE LEA_3

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS (Summary) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Sale Leaseback Transaction [Line Items]
Total minimum lease payments to be received	$ 281,512	$ 784,982
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	(37,440)	(40,698)
Net minimum lease payments receivable	244,072	744,284
Estimated residual values of leased property (unguaranteed)	111,121	111,121
Less: unearned income	(53,910)	(173,472)
Total investment in sales-type lease, direct financing lease and leaseback assets	301,283	681,933
Allowance for expected credit losses		(4,390)
Total investment in sales-type lease, direct financing lease and leaseback assets	300,291	677,543
Current portion	41,508	55,420
Long-term portion	258,783	622,123
Investment in sales-type, direct financing leases and leaseback assets
Sale Leaseback Transaction [Line Items]
Allowance for expected credit losses	(992)	(4,390)
Sales-Type Leases And Direct Financing Leases
Sale Leaseback Transaction [Line Items]
Total minimum lease payments to be received	209,368	705,196
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	(37,440)	(40,698)
Net minimum lease payments receivable	171,928	664,498
Estimated residual values of leased property (unguaranteed)	79,621	79,621
Less: unearned income	(31,320)	(147,876)
Total investment in sales-type lease, direct financing lease and leaseback assets	220,229	596,243
Allowance for expected credit losses	(810)	(4,141)
Total investment in sales-type lease, direct financing lease and leaseback assets	219,419	592,102
Current portion	31,619	45,888
Long-term portion	187,800	546,214
Leaseback Assets
Sale Leaseback Transaction [Line Items]
Total minimum lease payments to be received	72,144	79,786
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	0	0
Net minimum lease payments receivable	72,144	79,786
Estimated residual values of leased property (unguaranteed)	31,500	31,500
Less: unearned income	(22,590)	(25,596)
Total investment in sales-type lease, direct financing lease and leaseback assets	81,054	85,690
Allowance for expected credit losses	(182)	(249)
Total investment in sales-type lease, direct financing lease and leaseback assets	80,872	85,441
Current portion	9,889	9,532
Long-term portion	$ 70,983	$ 75,909

INVESTMENTS IN SALES-TYPE LEA_4

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019vessel	Jul. 31, 2021vessel	Jun. 30, 2021vessel	Dec. 31, 2020USD ($)vessel
Sale Leaseback Transaction [Line Items]
Number of vessels accounted for as leaseback assets	6
Four River Box vessels
Sale Leaseback Transaction [Line Items]
Equity method investment, number of chartered-in vessels				4
Subsequent Event
Sale Leaseback Transaction [Line Items]
Number of vessels, exercise of put options		3
Landbridge Universal Limited
Sale Leaseback Transaction [Line Items]
Term of lease or charter	7 years
Term of lease or charter, purchase obligation period	7 years
MSC
Sale Leaseback Transaction [Line Items]
Term of lease or charter	6 years
Number of vessels accounted for as leaseback assets	3
Hunter Group ASA
Sale Leaseback Transaction [Line Items]
Term of lease or charter	5 years
Number of container vessels accounted for as leaseback assets	3			3
Disposal Group, Disposed of by Sale, Not Discontinued Operations | River Box Holding Inc. ("River Box")
Sale Leaseback Transaction [Line Items]
Subsidiary, percentage ownership sold (in percentage)				50.10%
West Linus
Sale Leaseback Transaction [Line Items]
Direct financing lease, net investment in lease | $				$ 361
Sales-Type Leases And Direct Financing Leases
Sale Leaseback Transaction [Line Items]
Number of vessels under investments in sales-type leases, direct financing leases and leaseback assets			27	28
Sales-Type Leases And Direct Financing Leases | MSC
Sale Leaseback Transaction [Line Items]
Number of vessels under investments in sales-type leases, direct financing leases and leaseback assets			15
Term of lease or charter	7 years
Number of vessels under investments in sales-type leases, direct financing leases and leaseback assets, delivered			3
Leaseback Assets
Sale Leaseback Transaction [Line Items]
Number of vessels under investments in sales-type leases, direct financing leases and leaseback assets			4	4

INVESTMENTS IN ASSOCIATED COM_3

INVESTMENTS IN ASSOCIATED COMPANIES (Summary) (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)drillingRigRate	Jun. 30, 2020USD ($)Rate	Dec. 31, 2020USD ($)Rate	Dec. 31, 2019numberOfDrillingUnits
Schedule of Equity Method Investments [Line Items]
Number of drilling units | drillingRig	2
SFL Hercules Ltd (“SFL Hercules”)
Schedule of Equity Method Investments [Line Items]
Proceeds from dividends received | $	$ 0
SFL Deepwater, SFL Hercules And SFL Linus
Schedule of Equity Method Investments [Line Items]
Proceeds from dividends received | $		$ 0	$ 0
Number of drilling units | numberOfDrillingUnits				3
River Box Holding Inc. ("River Box")
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)	49.90%		49.90%
SFL Deepwater Ltd (“SFL Deepwater”)
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)		100.00%
SFL Hercules Ltd (“SFL Hercules”)
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)	100.00%	100.00%	100.00%
SFL Linus Ltd (“SFL Linus”)
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)		100.00%

INVESTMENTS IN ASSOCIATED COM_4

INVESTMENTS IN ASSOCIATED COMPANIES (Narrative) (Details)	1 Months Ended	2 Months Ended	6 Months Ended		12 Months Ended
	Feb. 28, 2021numberOfDrillingUnits	Dec. 31, 2020USD ($)	Jun. 30, 2021USD ($)drillingRig	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019numberOfDrillingUnits	Aug. 26, 2021USD ($)
Schedule of Equity Method Investments [Line Items]
Number of drilling units | drillingRig			2
Financial Guarantee
Schedule of Equity Method Investments [Line Items]
Amount guaranteed by Ship Finance		$ 83,100,000	$ 83,100,000		$ 83,100,000
Financial Guarantee | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Amount guaranteed by Ship Finance							$ 83,000,000
West Linus and West Hercules
Schedule of Equity Method Investments [Line Items]
Number of drilling units | numberOfDrillingUnits	2
River Box Holding Inc. ("River Box")
Schedule of Equity Method Investments [Line Items]
Proceeds from dividends received			700,000
SFL Deepwater, SFL Hercules And SFL Linus
Schedule of Equity Method Investments [Line Items]
Number of drilling units | numberOfDrillingUnits						3
Proceeds from dividends received				$ 0	$ 0
SFL Hercules Ltd (“SFL Hercules”)
Schedule of Equity Method Investments [Line Items]
Proceeds from dividends received			$ 0
SFL Hercules Ltd (“SFL Hercules”) | Financial Guarantee | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Cash contribution							5,000,000
Seadrill | Financial Guarantee | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Accounts Payable							$ 3,000,000
Minimum | West Linus and West Hercules
Schedule of Equity Method Investments [Line Items]
Expected revenue to be collected under existing charter agreements (as percentage)	65.00%	65.00%
Maximum | West Linus and West Hercules
Schedule of Equity Method Investments [Line Items]
Expected revenue to be collected under existing charter agreements (as percentage)	75.00%	75.00%
River Box Holding Inc. ("River Box")
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership (in percentage)		49.90%			49.90%

INVESTMENTS IN ASSOCIATED COM_5

INVESTMENTS IN ASSOCIATED COMPANIES (Balance sheet information) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Current assets	$ 496,757		$ 356,436
Total assets	3,193,902		3,093,211
Current liabilities	460,227		576,531
Total liabilities	2,292,582		2,297,560
Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Current assets	21,617		34,763
Non-current assets	517,381		513,918
Total assets	538,998		548,681
Current liabilities	30,618		199,255
Non-current liabilities	479,239		322,129
Total liabilities	509,857		521,384
Total stockholders’ equity	$ 29,141		$ 27,297
River Box
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)	49.90%		49.90%
River Box | Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Current assets	$ 13,602		$ 12,475
Non-current assets	253,457		258,865
Total assets	267,059		271,340
Current liabilities	12,921		12,569
Non-current liabilities	237,487		243,219
Total liabilities	250,408		255,788
Total stockholders’ equity	$ 16,651		$ 15,552
SFL Hercules
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)	100.00%	100.00%	100.00%
SFL Hercules | Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Current assets	$ 8,015		$ 22,288
Non-current assets	263,924		255,053
Total assets	271,939		277,341
Current liabilities	17,697		186,686
Non-current liabilities	241,752		78,910
Total liabilities	259,449		265,596
Total stockholders’ equity	$ 12,490		$ 11,745

INVESTMENTS IN ASSOCIATED COM_6

INVESTMENTS IN ASSOCIATED COMPANIES (Income statement information) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Operating revenues	$ 225,890	$ 240,361
Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Operating revenues	20,141	28,315
Net operating revenues	15,082	28,315
Net income	$ 2,564	$ 6,246
River Box
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)	49.90%		49.90%
River Box | Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Operating revenues	$ 10,076
Net operating revenues	10,065
Net income	$ 1,819
SFL Deepwater
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)		100.00%
SFL Deepwater | Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Operating revenues		$ 8,207
Net operating revenues		8,207
Net income		$ (721)
SFL Hercules
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)	100.00%	100.00%	100.00%
SFL Hercules | Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Operating revenues	$ 10,065	$ 8,157
Net operating revenues	5,017	8,157
Net income	$ 745	$ 2,341
SFL Linus
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)		100.00%
SFL Linus | Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Operating revenues		$ 11,951
Net operating revenues		11,951
Net income		$ 4,626

INVESTMENTS IN ASSOCIATED COM_7

INVESTMENTS IN ASSOCIATED COMPANIES (Movements) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Allowance for credit loss, beginning balance	$ 9,171
Reclassification to owned vessels within the associate	(2,030)
Allowance recorded in net income of associated companies	(716)
Allowance for credit loss, ending balance	6,425		$ 9,171
Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Allowance for credit loss, beginning balance	3,421
Reclassification to owned vessels within the associate	(1,896)
Allowance recorded in net income of associated companies	(551)
Allowance for credit loss, ending balance	$ 974		$ 3,421
River Box
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)	49.90%		49.90%
River Box | Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Allowance for credit loss, beginning balance	$ 786
Reclassification to owned vessels within the associate	0
Allowance recorded in net income of associated companies	(381)
Allowance for credit loss, ending balance	$ 405		$ 786
SFL Hercules
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (in percentage)	100.00%	100.00%	100.00%
SFL Hercules | Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Allowance for credit loss, beginning balance	$ 2,635
Reclassification to owned vessels within the associate	(1,896)
Allowance recorded in net income of associated companies	(170)
Allowance for credit loss, ending balance	$ 569		$ 2,635

INVESTMENTS IN ASSOCIATED COM_8

INVESTMENTS IN ASSOCIATED COMPANIES (Term loan and credit facility) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2020	Jun. 30, 2021
SFL Deepwater, SFL Hercules And SFL Linus
Schedule of Equity Method Investments [Line Items]
Proceeds from dividends received	$ 0	$ 0
Financial Guarantee
Schedule of Equity Method Investments [Line Items]
Amount guaranteed by Ship Finance		83,100,000	$ 83,100,000
Equity Method Investment, Nonconsolidated Investee, Other | SFL Hercules
Schedule of Equity Method Investments [Line Items]
Long-term debt		185,800,000	177,700,000
Equity Method Investment, Nonconsolidated Investee, Other | SFL Hercules | Financial Guarantee
Schedule of Equity Method Investments [Line Items]
Amount guaranteed by Ship Finance		$ 83,100,000	$ 83,100,000

OTHER LONG TERM ASSETS (Schedul

OTHER LONG TERM ASSETS (Schedule of Long-Term Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Capital improvements in progress	$ 1,595	$ 10,099
Collateral deposits on swap agreements	9,697	398
Value of acquired charter-out contracts, net	9,067	10,503
Long term receivables	0	0
Other	960	961
Other long-term assets	$ 21,319	$ 21,961

OTHER LONG TERM ASSETS (Narrati

OTHER LONG TERM ASSETS (Narrative) (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)vessel	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)vessel	Dec. 31, 2018USD ($)vessel
Property, Plant and Equipment [Line Items]
Number of container vessels accounted for as right of use assets | vessel	7
Other long term previously included in receivables	$ 1,900,000
Financing receivable, credit loss, expense			$ 1,900,000
Financing receivable, allowance for credit loss	$ 0		$ 0
Construction in Progress
Property, Plant and Equipment [Line Items]
Number of vessels being upgraded | vessel	9		11
Vessels and equipment | Cost
Property, Plant and Equipment [Line Items]
Capital improvements	$ 12,623,000
Construction completed
Property, Plant and Equipment [Line Items]
Number of vessels where upgrade completed | vessel	6
Evergreen Marine | Container vessels
Property, Plant and Equipment [Line Items]
Number of container vessels accounted for as right of use assets | vessel				4
Charters value on aquisition				$ 18,000,000
Amortization	$ 1,400,000	$ 1,400,000

SHORT-TERM AND LONG-TERM DEBT_2

SHORT-TERM AND LONG-TERM DEBT (Summary of long-term debt) (Details) $ in Thousands, kr in Millions	Jun. 30, 2021USD ($)	Jun. 30, 2021NOK (kr)	May 31, 2021	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)
Debt Instrument [Line Items]
Total Fixed Rate and Foreign Debt	$ 675,022			$ 593,257
Total debt principal	1,695,493			1,663,394
Less: Unamortized debt issuance costs	(13,770)			(14,325)
Less: Current portion of long-term debt	(369,552)			(484,956)
Long-term debt	1,312,171			1,164,113
Common stock - Frontline Ltd
Debt Instrument [Line Items]
Principal debt amount	15,600			15,600	$ 36,800
Long-term debt, gross	$ 15,639			15,639
5.75% senior unsecured convertible notes due 2021
Debt Instrument [Line Items]
Senior unsecured convertible notes interest rate (in percentage)	5.75%	5.75%
Long-term debt, gross	$ 146,919			212,230
4.875% senior unsecured convertible notes due 2023
Debt Instrument [Line Items]
Senior unsecured convertible notes interest rate (in percentage)	4.875%	4.875%			4.875%
Long-term debt, gross	$ 137,900			139,900
7.25% senior unsecured sustainability-linked bonds due 2026
Debt Instrument [Line Items]
Senior unsecured convertible notes interest rate (in percentage)	7.25%	7.25%	7.25%
Long-term debt, gross	$ 150,000			0
NOK700 million senior unsecured floating rate bonds due 2023
Debt Instrument [Line Items]
Principal debt amount | kr		kr 700
Long-term debt, gross	81,238			81,572
NOK700 million senior unsecured floating rate bonds due 2024
Debt Instrument [Line Items]
Principal debt amount | kr		700
Long-term debt, gross	80,657			80,989
NOK600 million senior unsecured floating rate bonds due 2025
Debt Instrument [Line Items]
Principal debt amount | kr		kr 600
Long-term debt, gross	62,669			62,927
U.S. dollar denominated floating rate debt due through 2025
Debt Instrument [Line Items]
Long term debt with floating interest rate	$ 1,020,471			$ 1,070,137

SHORT-TERM AND LONG-TERM DEBT_3

SHORT-TERM AND LONG-TERM DEBT (Movement) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Long term debt, beginning of the period	$ 593,257
Total debt principal, beginning period	1,663,394
Drawdowns	252,000	$ 347,231
Repayments and redemptions	(218,977)
Effects of foreign exchange	(924)
Long term debt, end of period	675,022
Total debt principal, ending period	1,695,493
7.25% Senior Unsecured Sustainability-Linked Bonds Due 2026
Debt Instrument [Line Items]
Drawdowns	150,000
U.S. Dollar Floating Rate Debt
Debt Instrument [Line Items]
Long term debt with floating interest rate, beginning of period	1,070,137
Drawdowns	102,000
Repayments and redemptions	(151,666)
Effects of foreign exchange	0
Long term debt with floating interest rate, end of period	1,020,471
Fixed Rate and Foreign Debt
Debt Instrument [Line Items]
Repayments and redemptions	(67,311)
Effects of foreign exchange	$ (924)

SHORT-TERM AND LONG-TERM DEBT_4

SHORT-TERM AND LONG-TERM DEBT (Interest rate information) (Details)	Jun. 30, 2021Rate	Dec. 31, 2020Rate
Debt Disclosure [Abstract]
Weighted average interest rate	2.85%	2.91%
US Dollar London Interbank Offered Rate ("LIBOR"), 3-Month, closing rate	0.15%	0.24%
Norwegian Interbank Offered Rate ("NIBOR"), 3-Month, closing rate	0.20%	0.49%

SHORT-TERM AND LONG-TERM DEBT_5

SHORT-TERM AND LONG-TERM DEBT (New facilities) (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	May 31, 2018
Debt Instrument [Line Items]
Repayments of debt	$ 218,977,000
4.875% senior unsecured convertible notes due 2023
Debt Instrument [Line Items]
Senior unsecured convertible notes interest rate (in percentage)	4.875%	4.875%
Repayments of debt	$ 2,000,000	$ 6,400,000	$ 8,400,000
5.75% senior unsecured convertible notes due 2021
Debt Instrument [Line Items]
Senior unsecured convertible notes interest rate (in percentage)	5.75%
Repayments of debt	$ 65,300,000	$ 0
4.875% senior unsecured convertible notes due 2023
Debt Instrument [Line Items]
Senior unsecured convertible notes interest rate (in percentage)				4.875%
5.75% senior unsecured convertible notes due 2021
Debt Instrument [Line Items]
Senior unsecured convertible notes interest rate (in percentage)				5.75%

SHORT-TERM AND LONG-TERM DEBT_6

SHORT-TERM AND LONG-TERM DEBT (Narrative) (Details) $ in Thousands, shares in Millions, kr in Millions	1 Months Ended		6 Months Ended			12 Months Ended
	Jul. 31, 2021USD ($)shares	May 31, 2021USD ($)	Jun. 30, 2021USD ($)shares	Jun. 30, 2020USD ($)	Jun. 30, 2020NOK (kr)	Dec. 31, 2020USD ($)	Dec. 31, 2019shares	Jun. 30, 2020NOK (kr)
Debt Instrument [Line Items]
Gain on repurchase of debt			$ 700	$ (1,100)
Repayments of debt			218,977
Restricted cash			5,866	7,994		$ 8,953
Drawdowns			252,000	347,231
Common stock - Frontline Ltd
Debt Instrument [Line Items]
Long-term debt, gross			$ 15,639			15,639
Number of shares repurchased in forward contract (in shares) | shares			1.4				3.4
Forward contract shares, amount			$ 16,300
Principal debt amount			15,600	36,800		15,600
Common stock - Frontline Ltd | Subsequent Event
Debt Instrument [Line Items]
Number of shares repurchased in forward contract (in shares) | shares	1.4
Forward contract shares, amount	$ 16,400
Secured borrowings, collateral, total repurchase price (in percentage)	20.00%
Senior Unsecured Convertible Bonds due 2020
Debt Instrument [Line Items]
Repayments of debt | kr					kr 500
Principal debt amount | kr								kr 500
Senior Unsecured Convertible Bonds due 2024
Debt Instrument [Line Items]
Repayments of debt | kr					5
Principal debt amount | kr								700
Senior Unsecured Convertible Bonds due 2025
Debt Instrument [Line Items]
Repayments of debt | kr					kr 60
Principal debt amount | kr								kr 600
4.875% senior unsecured convertible notes due 2023
Debt Instrument [Line Items]
Repayments of debt			$ 2,000	$ 6,400		8,400
Senior unsecured convertible notes interest rate (in percentage)			4.875%	4.875%				4.875%
Long-term debt, gross			$ 137,900			139,900
7.25% senior unsecured sustainability-linked bonds due 2026
Debt Instrument [Line Items]
Senior unsecured convertible notes interest rate (in percentage)		7.25%	7.25%
Long-term debt, gross			$ 150,000			$ 0
7.25% Senior Unsecured Sustainability-Linked Bonds Due 2026
Debt Instrument [Line Items]
Drawdowns		$ 150,000

SHORT-TERM AND LONG-TERM DEBT_7

SHORT-TERM AND LONG-TERM DEBT (US floating rate) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)subsidiary
Debt Instrument [Line Items]
Repayments of debt	$ 218,977
US Dollar 51 Million Secured Term Loan Facility
Debt Instrument [Line Items]
Long-term debt	$ 49,900
Number of wholly owned subsidiaries entering into the facility | subsidiary	1
Term	4 years
Principal debt amount	$ 51,000
US Dollar 51 Million Secured Term Loan Facility Draw Down April
Debt Instrument [Line Items]
Long-term debt	$ 51,000
Number of wholly owned subsidiaries entering into the facility | subsidiary	1
Term	4 years
Principal debt amount	$ 51,000
US Dollar 210 Million Secured Term Loan Facility
Debt Instrument [Line Items]
Long-term debt	$ 210,000
Number of wholly owned subsidiaries entering into the facility | subsidiary	3
Term	5 years
Repayments of debt	$ 99,500

FINANCIAL INSTRUMENTS (Schedule

FINANCIAL INSTRUMENTS (Schedule of fair values of derivative instruments designated and not designated as cash flow hedges) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Derivative instrument, long-term assets	$ 3,675	$ 3,406
Financial instruments at fair value, current portion	1,714	1,572
Financial instruments at fair value, long-term portion	21,357	32,712
Interest rate swaps | Designated as hedging instrument
Derivative [Line Items]
Derivative instrument, long-term assets	587	0
Financial instruments at fair value, current portion	369	703
Financial instruments at fair value, long-term portion	4,755	7,926
Interest rate swaps | Not designated as hedging instrument
Derivative [Line Items]
Financial instruments at fair value, current portion	1,345	869
Financial instruments at fair value, long-term portion	6,068	13,479
Cross currency swaps | Designated as hedging instrument
Derivative [Line Items]
Derivative instrument, long-term assets	2,988	3,373
Financial instruments at fair value, long-term portion	8,288	8,301
Cross currency swaps | Not designated as hedging instrument
Derivative [Line Items]
Derivative instrument, long-term assets	7	5
Cross currency interest rate swaps | Designated as hedging instrument
Derivative [Line Items]
Derivative instrument, long-term assets	93	28
Financial instruments at fair value, long-term portion	$ 2,246	$ 3,006

FINANCIAL INSTRUMENTS (Narrativ

FINANCIAL INSTRUMENTS (Narrative) (Details) $ in Thousands, kr in Millions	1 Months Ended	2 Months Ended	6 Months Ended
	Feb. 28, 2021numberOfDrillingUnits	Dec. 31, 2020USD ($)	Jun. 30, 2021USD ($)drillingRig	Jun. 30, 2020	Aug. 26, 2021USD ($)	Jun. 30, 2021NOK (kr)
Fair value | Fair Value, Measurements, Recurring
Derivative [Line Items]
Face value of bonds		$ 9,431	$ 8,293
Face value of bonds		9,431	$ 8,293
Number of drilling units | drillingRig			2
Loans to related parties - associated companies, long-term		123,910	$ 125,000
SFL Hercules and Riverbox Holding
Derivative [Line Items]
Loans to related parties - associated companies, long-term		123,900	125,200
Financial Guarantee
Derivative [Line Items]
Amount guaranteed by Ship Finance		$ 83,100	$ 83,100
Financial Guarantee | Subsequent Event
Derivative [Line Items]
Amount guaranteed by Ship Finance					$ 83,000
West Linus and West Hercules
Derivative [Line Items]
Number of drilling units | numberOfDrillingUnits	2
SFL Hercules Ltd (“SFL Hercules”) | Financial Guarantee | Subsequent Event
Derivative [Line Items]
Cash contribution					5,000
Seadrill | Financial Guarantee | Subsequent Event
Derivative [Line Items]
Accounts Payable					$ 3,000
Minimum | West Linus and West Hercules
Derivative [Line Items]
Expected revenue to be collected under existing charter agreements (as percentage)	65.00%	65.00%
Maximum | West Linus and West Hercules
Derivative [Line Items]
Expected revenue to be collected under existing charter agreements (as percentage)	75.00%	75.00%
Customer Concentration Risk | Sales Revenue, Net | Associated Companies
Derivative [Line Items]
Concentration risk, percentage			13.00%	18.00%
Significant Other Observable Inputs (Level 2) | Fair value | Fair Value, Measurements, Recurring
Derivative [Line Items]
Face value of bonds		$ 4,800	$ 3,673
NOK700 million senior unsecured floating rate bonds due 2023
Derivative [Line Items]
Principal debt amount | kr						kr 700
NOK700 million senior unsecured floating rate bonds due 2024
Derivative [Line Items]
Principal debt amount | kr						kr 700
Interest rate swaps
Derivative [Line Items]
Derivative, notional amount		$ 900,000	$ 900,000

FINANCIAL INSTRUMENTS (Schedu_2

FINANCIAL INSTRUMENTS (Schedule of currency swap transactions) (Details) - Jun. 30, 2021 - Designated as hedging instrument kr in Millions, $ in Millions	USD ($)	NOK (kr)
Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivative, notional amount	$ 76.8	kr 600
Cross Currency Interest Rate Contract 2
Derivative [Line Items]
Derivative, notional amount	11.3	100
Cross Currency Interest Rate Contract 3
Derivative [Line Items]
Derivative, notional amount	80.5	700
Cross Currency Interest Rate Contract 4
Derivative [Line Items]
Derivative, notional amount	$ 67.5	kr 600

FINANCIAL INSTRUMENTS (Schedu_3

FINANCIAL INSTRUMENTS (Schedule of carrying value and estimated fair value of financial assets and liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financial Assets And Liabilities [Line Items]
Available-for-sale debt securities	$ 8,293	$ 9,431
Equity securities	14,512	19,374
Equity securities pledged to creditors	13,032	9,007
Derivatives:
Derivative instrument, long-term assets	3,675	3,406
Carrying value | Fair Value, Measurements, Recurring
Financial Assets And Liabilities [Line Items]
Available-for-sale debt securities	8,293	9,431
Equity securities	1,480	10,367
Equity securities pledged to creditors	13,032	9,007
Derivatives:
Derivative instrument, long-term assets	3,675	3,406
Interest rate/currency swap contracts - short-term payables	(1,714)	(1,572)
Interest rate/currency swaps, long-term payables	(21,357)	(32,712)
Carrying value | Fair Value, Measurements, Recurring | Floating rate NOK bonds due 2023
Financial Assets And Liabilities [Line Items]
Long-term debt	(81,238)	(81,572)
Carrying value | Fair Value, Measurements, Recurring | Floating rate NOK bonds due 2024
Financial Assets And Liabilities [Line Items]
Long-term debt	(80,657)	(80,989)
Carrying value | Fair Value, Measurements, Recurring | Floating rate NOK bonds due 2025
Financial Assets And Liabilities [Line Items]
Long-term debt	(62,669)	(62,927)
Carrying value | Fair Value, Measurements, Recurring | 5.75% senior unsecured convertible notes due 2021
Financial Assets And Liabilities [Line Items]
Long-term debt	(146,919)	(212,230)
Carrying value | Fair Value, Measurements, Recurring | 4.875% senior unsecured convertible notes due 2023
Financial Assets And Liabilities [Line Items]
Long-term debt	(137,900)	(139,900)
Carrying value | Fair Value, Measurements, Recurring | 7.25% senior unsecured sustainability-linked bonds due 2026
Financial Assets And Liabilities [Line Items]
Long-term debt	(150,000)	0
Fair value | Fair Value, Measurements, Recurring
Financial Assets And Liabilities [Line Items]
Available-for-sale debt securities	8,293	9,431
Equity securities	1,480	10,367
Equity securities pledged to creditors	13,032	9,007
Derivatives:
Derivative instrument, long-term assets	3,675	3,406
Interest rate/currency swap contracts - short-term payables	(1,714)	(1,572)
Interest rate/currency swaps, long-term payables	(21,357)	(32,712)
Fair value | Fair Value, Measurements, Recurring | Floating rate NOK bonds due 2023
Financial Assets And Liabilities [Line Items]
Long-term debt	(80,831)	(78,513)
Fair value | Fair Value, Measurements, Recurring | Floating rate NOK bonds due 2024
Financial Assets And Liabilities [Line Items]
Long-term debt	(80,052)	(76,940)
Fair value | Fair Value, Measurements, Recurring | Floating rate NOK bonds due 2025
Financial Assets And Liabilities [Line Items]
Long-term debt	(60,632)	(57,421)
Fair value | Fair Value, Measurements, Recurring | 5.75% senior unsecured convertible notes due 2021
Financial Assets And Liabilities [Line Items]
Long-term debt	(145,450)	(199,496)
Fair value | Fair Value, Measurements, Recurring | 4.875% senior unsecured convertible notes due 2023
Financial Assets And Liabilities [Line Items]
Long-term debt	(137,470)	(123,112)
Fair value | Fair Value, Measurements, Recurring | 7.25% senior unsecured sustainability-linked bonds due 2026
Financial Assets And Liabilities [Line Items]
Long-term debt	$ (151,125)	$ 0

FINANCIAL INSTRUMENTS (Schedu_4

FINANCIAL INSTRUMENTS (Schedule of financial assets and liabilities measured at fair value on a recurring basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair value | Fair Value, Measurements, Recurring
Assets:
Available-for-sale debt securities	$ 8,293	$ 9,431
Equity securities	1,480	10,367
Equity securities pledged to creditors	13,032	9,007
Derivative instrument, long-term assets	3,675	3,406
Total assets	26,480
Liabilities:
Floating rate NOK bonds due 2023	(80,831)
Floating rate NOK bonds due 2024	(80,052)
Floating rate NOK bonds due 2025	(60,632)
Interest rate/currency swaps, short-term payables	(1,714)
Interest rate/currency swaps, long-term payables	(21,357)	(32,712)
Total liabilities	(678,631)
Fair value | Fair Value, Measurements, Recurring | 5.75% senior unsecured convertible notes due 2021
Liabilities:
Convertible Debt, Fair Value Disclosures	(145,450)
Fair value | Fair Value, Measurements, Recurring | 4.875% senior unsecured convertible notes due 2023
Liabilities:
Convertible Debt, Fair Value Disclosures	(137,470)
Fair value | Fair Value, Measurements, Recurring | 7.25% senior unsecured sustainability-linked bonds due 2026
Liabilities:
Convertible Debt, Fair Value Disclosures	(151,125)
Fair value | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for identical Assets/Liabilities (Level 1)
Assets:
Available-for-sale debt securities	4,620
Equity securities	1,480
Equity securities pledged to creditors	13,032
Total assets	19,132
Liabilities:
Floating rate NOK bonds due 2023	(80,831)
Floating rate NOK bonds due 2024	(80,052)
Floating rate NOK bonds due 2025	(60,632)
Total liabilities	(655,560)
Fair value | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for identical Assets/Liabilities (Level 1) | 5.75% senior unsecured convertible notes due 2021
Liabilities:
Convertible Debt, Fair Value Disclosures	(145,450)
Fair value | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for identical Assets/Liabilities (Level 1) | 4.875% senior unsecured convertible notes due 2023
Liabilities:
Convertible Debt, Fair Value Disclosures	(137,470)
Fair value | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for identical Assets/Liabilities (Level 1) | 7.25% senior unsecured sustainability-linked bonds due 2026
Liabilities:
Convertible Debt, Fair Value Disclosures	(151,125)
Fair value | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Available-for-sale debt securities	3,673	4,800
Derivative instrument, long-term assets	3,675
Total assets	7,348
Liabilities:
Interest rate/currency swaps, short-term payables	(1,714)
Interest rate/currency swaps, long-term payables	(21,357)
Total liabilities	(23,071)
Fair value | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Total assets	0
Liabilities:
Total liabilities	0
Carrying value | Fair Value, Measurements, Recurring
Assets:
Available-for-sale debt securities	8,293	9,431
Equity securities	1,480	10,367
Equity securities pledged to creditors	13,032	9,007
Derivative instrument, long-term assets	3,675	3,406
Liabilities:
Interest rate/currency swaps, long-term payables	(21,357)	(32,712)
Available-for-sale debt securities	8,293	9,431
Equity securities	14,512	19,374
Equity securities pledged to creditors	13,032	9,007
Derivative instrument, long-term assets	$ 3,675	$ 3,406

FINANCIAL INSTRUMENTS (Schedu_5

FINANCIAL INSTRUMENTS (Schedule of concentration of revenue risk) (Details) - vessel	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Golden Ocean Group Limited ("Golden Ocean")
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Number of chartered vessels	8
Golden Ocean Group Limited ("Golden Ocean") | Sales Revenue, Net | Customer Concentration Risk
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk, percentage	12.00%	11.00%
MSC
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Number of chartered vessels	28
MSC | Sales Revenue, Net | Customer Concentration Risk
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk, percentage	3.00%	13.00%
Maersk Line A/S (“Maersk”)
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Number of chartered vessels	12
Maersk Line A/S (“Maersk”) | Sales Revenue, Net | Customer Concentration Risk
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk, percentage	33.00%	28.00%
Evergreen
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Number of chartered vessels	4
Evergreen | Sales Revenue, Net | Customer Concentration Risk
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk, percentage	15.00%	14.00%

SHARE CAPITAL, ADDITIONAL PAI_3

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Summary of Share Capital) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Value of authorized share capital	$ 3,000	$ 3,000
Value of issued and fully paid share capital	$ 1,380	$ 1,278
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	138,022,940	127,810,064
Common stock issued, par value (in usd per share)	$ 0.01	$ 0.01

SHARE CAPITAL, ADDITIONAL PAI_4

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Narrative) (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	May 12, 2021	Feb. 17, 2021	May 01, 2020
Dividends payable (in usd per share)				$ 0.15	$ 0.15
Shares issued, net of issuance costs	$ 83,428,000	$ 12,659,000
Repayments of debt	$ 218,977,000
Share-based compensation arrangement by share-based payment award, options, exercises in period (in shares)	129,000	6,869
4.875% senior unsecured convertible notes due 2023
Senior unsecured convertible notes interest rate (in percentage)	4.875%	4.875%
Repayments of debt	$ 2,000,000	$ 6,400,000	$ 8,400,000
Equity adjustment arising from reacquisition of convertible notes	$ 100,000		300,000
5.75% senior unsecured convertible notes due 2021
Senior unsecured convertible notes interest rate (in percentage)	5.75%
Repayments of debt	$ 65,300,000	$ 0
Equity adjustment arising from reacquisition of convertible notes	400,000
Contributed Surplus
Dividends, common stock	$ 35,700,000		$ 109,400,000
Dividend Reinvestment Plan (drip)
Dividend reinvestment plan, maximum number of shares authorized (in shares)						10,000,000
At The Market and Dividend Reinvestment Plan
Shares issued (in shares)	10,200,000		8,400,000
Shares issued, net of issuance costs	$ 85,400,000		$ 61,500,000
Shares issued, premium	$ 85,300,000		$ 61,400,000
At the Market
Equity distribution agreement, maximum value of shares authorized						$ 100,000,000

SHARE OPTION PLAN (Details)

SHARE OPTION PLAN (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	May 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercised (in shares)		129,000	6,869
Cash payment under Option Scheme		$ 0.1
Options, expected term	5 years
Vesting period of options awarded to employees	3 years
Unrecognized compensation costs related to non-vested options granted		1.6		$ 0.7
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options awarded (shares)	480,000
Initial strike price (usd per share)	$ 8.79
Ship Finance International Limited Share Option Scheme
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Credit to additional paid-in capital		$ 0.4

FINANCE LEASE LIABILITY (Narrat

FINANCE LEASE LIABILITY (Narrative) (Details) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)containership	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)containership
Other Long-term Liabilities [Line Items]
Number of container vessels under sale and leaseback transactions | containership	7		7
Number of vessels under finance lease liability accounted for as vessels under finance lease | containership	7
Finance lease, vessel bareboat charter period			15 years
Disposal group, finance lease liability | $			$ 464.7
Interest incurred on capital leases | $	$ 13.1	$ 30.1
Disposal Group, Disposed of by Sale, Not Discontinued Operations | River Box Holding Inc. ("River Box")
Other Long-term Liabilities [Line Items]
Subsidiary, percentage ownership sold (in percentage)			50.10%

FINANCE LEASE LIABILITY (Obliga

FINANCE LEASE LIABILITY (Obligations) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Finance lease liability, current portion	$ 50,025	$ 48,887
Finance lease liability, long-term portion	498,823	524,200
Finance lease liability	$ 548,848	$ 573,087

RELATED PARTY TRANSACTIONS (Sch

RELATED PARTY TRANSACTIONS (Schedule of amounts due from and to related parties, excluding direct financing lease balances) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Amounts due from and to related parties [Abstract]
Due from related parties	$ 4,842	$ 7,718
Allowance for expected credit losses	(6,425)	(9,171)
Loans to related parties - associated companies, long-term	125,000	123,910
Due to related parties	1,329	2,724
River Box
Amounts due from and to related parties [Abstract]
Loans to related parties - associated companies, long-term	45,000	45,000
SFL Hercules Ltd (“SFL Hercules”)
Amounts due from and to related parties [Abstract]
Loans to related parties - associated companies, long-term	80,000	78,910
Frontline Shipping
Amounts due from and to related parties [Abstract]
Due from related parties	0	2,875
Due to related parties	1,204	836
Frontline
Amounts due from and to related parties [Abstract]
Due from related parties	3,093	3,202
Seadrill
Amounts due from and to related parties [Abstract]
Due from related parties	2,773	3,613
Seatankers
Amounts due from and to related parties [Abstract]
Due from related parties	181	0
SFL Hercules Ltd (“SFL Hercules”)
Amounts due from and to related parties [Abstract]
Due from related parties	213	0
River Box
Amounts due from and to related parties [Abstract]
Due from related parties	5	0
Other related parties
Amounts due from and to related parties [Abstract]
Due from related parties	0	2
Due to related parties	50	39
Affiliated Entity
Amounts due from and to related parties [Abstract]
Allowance for expected credit losses	(2,653)	(1,974)
Frontline Management
Amounts due from and to related parties [Abstract]
Due to related parties	75	1,826
Golden Ocean
Amounts due from and to related parties [Abstract]
Due from related parties	1,230	0
Due to related parties	$ 0	$ 23

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details)	1 Months Ended			2 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)vessel	Feb. 28, 2021numberOfDrillingUnits	Feb. 29, 2020USD ($)vessel	Dec. 31, 2020USD ($)	Jun. 30, 2021USD ($)drillingRigvessel	Jun. 30, 2020USD ($)vessel	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)carriernumberOfDrillingUnits	Aug. 26, 2021USD ($)	Oct. 31, 2020subsidiary
Related Party Transaction [Line Items]
Number of drilling units | drillingRig					2
Number of subsidiaries, consolidated | subsidiary										2
Gain on settlement of loan note - related party loan notes					$ 0	$ 4,446,000
Gain recorded in relation to sale of vessels						2,300,000
Number of vessels sold | vessel					0
Financial Guarantee
Related Party Transaction [Line Items]
Amount guaranteed by Ship Finance				$ 83,100,000	$ 83,100,000		$ 83,100,000
Financial Guarantee | Subsequent Event
Related Party Transaction [Line Items]
Amount guaranteed by Ship Finance									$ 83,000,000
ADS Maritime Holding | Equity Securities
Related Party Transaction [Line Items]
Proceeds from sale of equity securities	$ 800,000
Front Page, Front Stratus, Front Serenade, Front Ariake
Related Party Transaction [Line Items]
Number of very large crude carriers sold | vessel			4
Proceeds from settled loan notes			$ 11,000,000
Compensation received on termination of charters at fair value, notes receivable			11,000,000
Gain on settlement of loan note - related party loan notes						0
Front Circassia
Related Party Transaction [Line Items]
Compensation received on termination of charters at fair value, notes receivable			4,450,000
Gain on settlement of loan note - related party loan notes						$ 4,450,000
Initial face value			8,900,000
Front Hakata
Related Party Transaction [Line Items]
Proceeds from sale of vessels and termination of charters			33,500,000
Compensation payable for early contract termination of charter			(3,200,000)
Gain recorded in relation to sale of vessels			$ 1,400,000
Number of vessels sold | vessel						1
West Linus and West Hercules
Related Party Transaction [Line Items]
Number of drilling units | numberOfDrillingUnits		2
Golden Ocean
Related Party Transaction [Line Items]
Number of capesize drybulk carriers financed | carrier								7
Number of capesize drybulk carriers owned | carrier								8
Upgrade cost per vessel								$ 2,500,000
Increase in charter hire per day								$ 1,535,000
ADS Maritime Holding
Related Party Transaction [Line Items]
Proceeds from dividends received	$ 8,800,000
Number of vessels sold | vessel	2
Seadrill | Financial Guarantee | Subsequent Event
Related Party Transaction [Line Items]
Accounts Payable									3,000,000
SFL Hercules Ltd (“SFL Hercules”)
Related Party Transaction [Line Items]
Proceeds from dividends received					$ 0
SFL Hercules Ltd (“SFL Hercules”) | Financial Guarantee | Subsequent Event
Related Party Transaction [Line Items]
Cash contribution									$ 5,000,000
SFL Deepwater, SFL Hercules And SFL Linus
Related Party Transaction [Line Items]
Number of drilling units | numberOfDrillingUnits								3
Proceeds from dividends received						$ 0	$ 0
Minimum | West Linus and West Hercules
Related Party Transaction [Line Items]
Expected revenue to be collected under existing charter agreements (as percentage)		65.00%		65.00%
Maximum | West Linus and West Hercules
Related Party Transaction [Line Items]
Expected revenue to be collected under existing charter agreements (as percentage)		75.00%		75.00%
River Box
Related Party Transaction [Line Items]
Equity method investment, ownership (in percentage)				49.90%			49.90%
Disposal Group, Disposed of by Sale, Not Discontinued Operations | River Box
Related Party Transaction [Line Items]
Subsidiary, percentage ownership sold (in percentage)				50.10%			50.10%

RELATED PARTY TRANSACTIONS (S_2

RELATED PARTY TRANSACTIONS (Schedule of related party leasing revenues and repayments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Profit sharing income - related parties	$ 1,512	$ 10,358
Interest income related parties – direct financing leases	766	946
Service revenue related parties – direct financing leases	3,258	3,591
Golden Ocean
Related Party Transaction [Line Items]
Operating Lease, Lease Income	25,261	26,663
Profit sharing income - related parties	1,244	0
Frontline Shipping
Related Party Transaction [Line Items]
Profit sharing income - related parties	268	10,358
Interest income related parties – direct financing leases	766	946
Service revenue related parties – direct financing leases	3,258	3,591
Direct financing lease repayments	$ 3,176	$ 3,403

RELATED PARTY TRANSACTIONS (S_3

RELATED PARTY TRANSACTIONS (Schedule of fees with related parties) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Vessel operating expenses - related parties	$ 14,740	$ 15,250
Administrative expenses - related parties	154	587
Frontline Shipping
Related Party Transaction [Line Items]
Vessel operating expenses - related parties	4,249	4,592
Newbuilding Supervision Fees	16	0
Commissions and Brokerage	96	178
Administrative expenses - related parties	59	37
Golden Ocean
Related Party Transaction [Line Items]
Vessel operating expenses - related parties	10,136	10,192
Administrative expenses - related parties	33	32
Operating Management Fees	355	466
Seatankers
Related Party Transaction [Line Items]
Administrative expenses - related parties	113	206
Credit note	(300)
Seatankers Management AS
Related Party Transaction [Line Items]
Office facilities	54	47
Frontline Management AS
Related Party Transaction [Line Items]
Office facilities	118	96
Frontline Corporate Services
Related Party Transaction [Line Items]
Office facilities	$ 71	$ 169

RELATED PARTY TRANSACTIONS (S_4

RELATED PARTY TRANSACTIONS (Schedule of related party loans – associated companies) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Interest income - related parties, long term loans to associated companies	$ 4,063	$ 7,064
River Box
Related Party Transaction [Line Items]
Loans granted	45,000
Loans outstanding	45,000
Interest income - related parties, long term loans to associated companies	2,300	0
SFL Hercules Ltd (“SFL Hercules”)
Related Party Transaction [Line Items]
Loans granted	145,000
Loans outstanding	80,000
Interest income - related parties, long term loans to associated companies	1,800	1,800
SFL Deepwater Ltd (“SFL Deepwater”)
Related Party Transaction [Line Items]
Interest income - related parties, long term loans to associated companies	0	2,500
SFL Linus Ltd (“SFL Linus”)
Related Party Transaction [Line Items]
Interest income - related parties, long term loans to associated companies	$ 0	$ 2,700

RELATED PARTY TRANSACTIONS (S_5

RELATED PARTY TRANSACTIONS (Schedule of interest income on related party loan notes) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Front Circassia | Frontline Shipping
Related Party Transaction [Line Items]
Interest income	$ 0	$ 82
Front Page, Front Stratus, Front Serenade, Front Ariake | Frontline
Related Party Transaction [Line Items]
Interest income	$ 0	$ 97

RELATED PARTY TRANSACTIONS (S_6

RELATED PARTY TRANSACTIONS (Schedule of dividends and interest income received from shares held in and secured notes issued by related parties) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Dividend income - related parties	$ 0	$ 3,884
ADS Maritime Holding
Related Party Transaction [Line Items]
Dividend income - related parties	0	1,508
Frontline
Related Party Transaction [Line Items]
Dividend income - related parties	0	2,376
NorAm Drilling
Related Party Transaction [Line Items]
Interest income	$ 0	$ 210

ALLOWANCE FOR EXPECTED CREDIT_3

ALLOWANCE FOR EXPECTED CREDIT LOSSES (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Disclosure of Allowance for Expected Credit Losses by Balance Sheet Items [Line Items]
Allowance for credit loss, beginning balance	$ 9,171
Net investment in lease, allowance for credit loss, beginning balance	4,390
Reclassification to owned vessels within the associate	(2,030)
Allowance recorded in net income of associated companies	(716)
Allowance for credit loss, ending balance	6,425
Trade receivables
Disclosure of Allowance for Expected Credit Losses by Balance Sheet Items [Line Items]
Allowance for credit loss, beginning balance	33
Reclassification to owned vessels within the associate	0
Allowance recorded in net income of associated companies	40
Allowance for credit loss, ending balance	73
Other receivables
Disclosure of Allowance for Expected Credit Losses by Balance Sheet Items [Line Items]
Allowance for credit loss, beginning balance	881
Reclassification to owned vessels within the associate	0
Allowance recorded in net income of associated companies	(68)
Allowance for credit loss, ending balance	813
Related Party receivables
Disclosure of Allowance for Expected Credit Losses by Balance Sheet Items [Line Items]
Allowance for credit loss, beginning balance	1,973
Reclassification to owned vessels within the associate	0
Allowance recorded in net income of associated companies	680
Allowance for credit loss, ending balance	2,653
Investment in sales-type, direct financing leases and leaseback assets
Disclosure of Allowance for Expected Credit Losses by Balance Sheet Items [Line Items]
Net investment in lease, allowance for credit loss, beginning balance	4,390
Reclassification to owned vessels within the associate	(2,030)
Net investment in lease, allowance for credit loss, period decrease	(1,368)
Net investment in lease, allowance for credit loss, ending balance	992
Other long-term assets
Disclosure of Allowance for Expected Credit Losses by Balance Sheet Items [Line Items]
Allowance for credit loss, beginning balance	1,894
Reclassification to owned vessels within the associate	0
Allowance recorded in net income of associated companies	0
Allowance for credit loss, ending balance	$ 1,894

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES (Details) shares in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)vesselshares	Dec. 31, 2020USD ($)vesselshares	Aug. 26, 2021carrier	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)
Commitments and Contingencies [Line Items]
Book value of assets pledged under ship mortgages	$ 1,817,000,000	$ 1,864,000,000
Book value of assets with finance lease liabilities	677,000,000	697,000,000
Restricted cash	5,866,000	$ 8,953,000			$ 7,994,000
Other commitment, purchase price of vessel	$ 151,500,000
Number of container vessels acquired | vessel	2
Subsequent Event
Commitments and Contingencies [Line Items]
Number of dual-fuel car carriers delivered | carrier			2
Common stock - Frontline Ltd
Commitments and Contingencies [Line Items]
Investment owned, balance (in shares) | shares		1.4
Principal debt amount	$ 15,600,000	$ 15,600,000			$ 36,800,000
Debt for acquired equipment
Commitments and Contingencies [Line Items]
Long-term Line of Credit	1,700,000,000	1,700,000,000
Debt for acquired equipment | Equity Accounted Subsidiaries
Commitments and Contingencies [Line Items]
Long-term debt	177,700,000
Frontline Forward Contract
Commitments and Contingencies [Line Items]
Investment Owned, at Fair Value	$ 13,000,000	9,000,000
Frontline Forward Contract | Common stock - Frontline Ltd
Commitments and Contingencies [Line Items]
Investment owned, balance (in shares) | shares	1.4
Installation of scrubbers
Commitments and Contingencies [Line Items]
Number of container vessels with amended charter terms	$ 0	$ 5,800,000
Number of vessels being upgraded | vessel		9
Installation of BWTS
Commitments and Contingencies [Line Items]
Number of container vessels with amended charter terms	$ 6,100,000	$ 7,000,000
Number of vessels being upgraded | vessel	13	16
Container Vessel Acquisition
Commitments and Contingencies [Line Items]
Number of container vessels with amended charter terms	$ 31,700,000
Other commitment, purchase price of vessel	36,000,000
Other commitment, deposit paid				$ 4,300,000
Two 14000 TEU Container Vessel Acquisition
Commitments and Contingencies [Line Items]
Number of container vessels with amended charter terms	$ 191,500,000
Number of container vessels acquired | vessel	2
Dual-Fuel Car Carriers
Commitments and Contingencies [Line Items]
Number of container vessels with amended charter terms	$ 130,200,000	$ 0
Property not subject to direct financing leases
Commitments and Contingencies [Line Items]
Book value of assets pledged under ship mortgages	1,518,000,000	1,189,000,000
Property subject to direct financing leases
Commitments and Contingencies [Line Items]
Book value of assets pledged under ship mortgages	299,000,000	675,000,000
Vessels under finance lease, net
Commitments and Contingencies [Line Items]
Book value of assets with finance lease liabilities	$ 677,000,000	$ 697,000,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	Aug. 18, 2021$ / shares	Aug. 26, 2021USD ($)carriervessel	Jul. 31, 2021vesselshares	Jul. 24, 2021	Jun. 30, 2021USD ($)carrier	Dec. 31, 2020USD ($)
Subsequent Event [Line Items]
Number of dual-fuel car carriers | carrier					2
Financial Guarantee
Subsequent Event [Line Items]
Amount guaranteed by Ship Finance					$ 83,100,000	$ 83,100,000
Subsequent Event
Subsequent Event [Line Items]
Common stock, dividend declares (in usd per share) | $ / shares	$ 0.15
Number of dual-fuel car carriers delivered | carrier		2
Number of vessels acquired | vessel		2
Bareboat charter revenues, per day		$ 64,700
Bareboat charter revenues, per day, after emergence date		60,000
Bareboat charter revenues, per day, other scenarios		$ 40,000
Senior secured loans ownership, percentage				0.578
Number of vessels for which purchase options are exercised | vessel			18
Number of vessels for which purchase options are exercised, delivered | vessel			6
Sale of stock (in shares) | shares			528,447
Subsequent Event | A Leading Asia-Based Transportation Company
Subsequent Event [Line Items]
Number of dual-fuel car carriers | carrier		2
Term of lease or charter		10 years
Subsequent Event | Financial Guarantee
Subsequent Event [Line Items]
Amount guaranteed by Ship Finance		$ 83,000,000
Subsequent Event | Financial Guarantee | SFL Hercules Ltd (“SFL Hercules”)
Subsequent Event [Line Items]
Cash contribution		5,000,000
Subsequent Event | Financial Guarantee | Seadrill
Subsequent Event [Line Items]
Accounts Payable		$ 3,000,000