VESSELS UNDER CAPITAL LEASES, NET (Tables)

12 Months Ended

Dec. 31, 2016

Vessels Under Capital Leases [Abstract]

Book Value Of Vessels Under Capital Lease [Table Text Block]

(in thousands of $)
Balance at December 31, 2014	—
Acquired as a result of the Merger	14,029
Impairment loss	(4,525	)
Depreciation	(1,150	)
Balance at December 31, 2015	8,354
Disposals	(3,473	)
Impairment loss	(985	)
Depreciation	(940	)
Balance at December 31, 2016	2,956

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The outstanding obligations under capital leases at December 31, 2016 are payable as follows:

(in thousands of $)
2017	5,944
2018	5,944
2019	5,944
2020	1,791
2021	—
Thereafter	—
Minimum lease payments	19,623
Less: imputed interest	(2,092	)
Present value of obligations under capital leases	17,531