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DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE
6 Months Ended
Jun. 30, 2023
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, 2023 and December 31, 2022 are summarized as follows:
(in thousands of $)20232022
Interest rate swaps35,895 32,858 
Bunker derivatives 374 265 
Foreign currency swaps48 — 
 Asset Derivatives - Fair Value
36,317 33,123 

(in thousands of $)20232022
Interest rate swaps160 — 
Foreign currency swaps79 10 
Bunker derivatives 590 1,303 
 Liability Derivatives - Fair Value
829 1,313 

During the six months ended June 30, 2023 and June 30, 2022, the following amounts were recognized in the consolidated statement of operations under the line item "Gain (loss) on derivatives":
 (in thousands of $)20232022
Interest rate swaps Mark to market gain 9,625 23,798 
Foreign currency swapsMark to market loss(21)(189)
Forward freight agreementsMark to market gain (loss)(2,689)481 
Bunker derivatives Mark to market gain47 1,787 
Total6,962 25,877