v3.26.1
FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values of derivative instruments designated and not designated as cash flow hedges
The following table presents the fair values of the Company’s derivative instruments that were designated as cash flow hedges and qualified as part of a hedging relationship, and those that were not designated: 

(in thousands of $)June 30, 2026December 31, 2025
Designated derivative instruments - long-term assets:
Interest rate swaps806 — 
Cross currency interest rate swaps8,200 5,741 
Non-designated derivative instruments - long-term assets:
Interest rate swaps12,478 7,887 
Cross currency interest rate swaps639 464 
Total derivative instruments - long-term assets22,123 14,092 
(in thousands of $)June 30, 2026December 31, 2025
Designated derivative instruments - long-term liabilities:
Interest rate swaps240 5,022 
Non-designated derivative instruments - long-term liabilities:
Interest rate swaps— 1,124 
Total derivative instruments - long-term liabilities240 6,146 
Derivative Instruments, Gain (Loss)
Movements in the Consolidated Statement of Operations are summarized as follows:

Six months ended
(in thousands of $)
June 30, 2026June 30, 2025
Net fair value movements of non-designated derivatives5,889 (4,183)
Net cash movement on non-designated derivatives and swap settlements1,315 1,621 
Total cash movement and valuation gain/(loss) on non-designated derivatives
7,204 (2,562)
Schedule of carrying value and estimated fair value of financial assets and liabilities
The carrying value and estimated fair value of the Company’s financial assets and liabilities as of June 30, 2026 and December 31, 2025 are as follows: 

June 30, 2026December 31, 2025
(in thousands of $)Carrying valueFair valueCarrying valueFair value
Non-derivatives:
Equity securities4,873 4,873 4,146 4,146 
Debt securities140 140 — — 
7.25% senior unsecured sustainability-linked bonds due 2026
— — 150,000 151,500 
8.875% senior unsecured sustainability-linked bonds due 2027
150,000 151,215 150,000 154,575 
8.25% senior unsecured sustainability-linked bonds due 2028
147,600 152,796 147,600 152,213 
NOK750 million senior unsecured floating rate bonds due 2029
75,740 75,494 74,327 74,327 
7.75% senior unsecured sustainability-linked bonds due 2030
225,000 232,808 144,400 146,927 
Derivatives:
Interest rate/ currency swap contracts - long-term receivables22,123 22,123 14,092 14,092 
Interest rate/ currency swap contracts - long-term payables240 240 6,146 6,146