DERIVATIVE INSTRUMENTS PAYABLE AND RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Our derivative instruments are not designated as hedging instruments and are summarized as follows:

(in thousands of $)	2023	2022
Interest rate swaps	27,930	32,858
Foreign currency swaps	—	—
Bunker derivatives	140	265
Forward freight agreements	—	—
Asset Derivatives - Fair Value	28,070	33,123

(in thousands of $)	2023	2022
Interest rate swaps	—	—
Foreign currency swaps	2	10
Bunker derivatives	170	1,303
Forward freight agreements	—	—
Liability Derivatives - Fair Value	172	1,313

Derivative Instruments, Gain (Loss)

During 2023, 2022 and 2021, the following were recognized and presented under "Gain (loss) on derivatives" in the consolidated statement of comprehensive income:

(in thousands of $)		2023	2022	2021
Interest rate swaps	Interest income (expense)	15,710	(466)	(8,349)
	Unrealized fair value gain (loss)	(4,929)	40,614	19,802
Foreign currency swaps	Realized gain (loss)	124	(194)	60
	Unrealized fair value gain (loss)	—	113	(257)
Forward freight agreements	Realized gain (loss)	(1,137)	(579)	18,969
	Options	—	—	—
Bunker derivatives	Realized gain (loss)	710	1,518	410
	Unrealized fair value gain (loss)	893	(1,038)	(170)
		11,371	39,968	30,465