v3.25.2
FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of notional amounts of outstanding derivative positions
Our interest rate swap contracts as of June 30, 2025, of which none are designated as hedging instruments, are summarized as follows:
(in thousands of $)Notional principalWeighted average maturity dateWeighted average fixed interest rateFloating rate: Reference Rate
Receiving floating, pay fixed775,000 October 20282.46 %SOFR
Receiving floating, pay fixed75,000 August 20250.99 %
SOFR + CAS (1)
(1)    In 2023, the reference rate for these interest rate swap agreements transitioned from the London Interbank Offered Rate, or LIBOR, to SOFR plus a credit adjustment spread of 0.26% based on the LIBOR fallback protocol.
Derivative instruments, gain (loss)
The Company's loss on derivatives per the consolidated statement of operations for the six months ended June 30, 2025 and 2024 was comprised of the following:
(figures in thousands of $)Six months ended
June 30,
 20252024
Change in fair value of derivative instruments(16,672)(2,616)
Realized gain/(loss) on derivative instruments8,035 13,397 
(Loss)/Gain on derivatives(8,637)10,781 
Movements in the six months ended June 30, 2025 for the derivative instrument assets and liabilities is summarized as follows:
(in thousands of $)Derivative Instrument AssetDerivative Instrument LiabilityTotal
At December 31, 202440,090 — 40,090 
Change in fair value of derivative instruments(16,422)(250)(16,672)
At June 30, 202523,668 (250)23,418 
Schedule of derivative instruments
Movements in the six months ended June 30, 2025 for the derivative instrument assets and liabilities is summarized as follows:
(in thousands of $)Derivative Instrument AssetDerivative Instrument LiabilityTotal
At December 31, 202440,090 — 40,090 
Change in fair value of derivative instruments(16,422)(250)(16,672)
At June 30, 202523,668 (250)23,418