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DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE
 6 Months Ended
Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE
Our derivative instruments are not designated as hedging instruments and the positions at June 30, 2022 and December 31, 2021 are summarized as follows:
(in thousands of $)20222021
Interest rate swaps18,815 2,608 
Bunker derivatives 172 — 
Foreign currency swaps— 71 
 Forward freight agreements— — 
 Asset - Derivatives fair value18,987 2,679 

(in thousands of $)20222021
Interest rate swaps— 10,364 
Foreign currency swaps119 — 
Bunker derivatives 83 — 
Forward freight agreements— — 
 Liability - Derivatives fair value202 10,364 
During the six months ended June 30, 2022 and June 30, 2021, the following amounts were recognized in the consolidated statement of operations under the line item "Gain (loss) on derivatives":
 (in thousands of $)20222021
Interest rate swaps Mark to market gain 23,798 6,628 
Foreign currency swapsMark to market loss(189)(160)
Forward freight agreementsMark to market gain481 16,912 
Bunker derivatives Mark to market gain1,787 275 
Total25,877 23,655