v3.25.2
Fair Value Measurement
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement
19.    Fair Value Measurement
The following tables presents information about the Company's assets and liabilities that are measured at fair value on a recurring basis on June 30, 2025 and December 31, 2024 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.
June 30, 2025
Level 1Level 2Level 3Total
$’000$’000$’000$’000
Financial assets:
Derivative asset— 46,697 — 46,697 
Derivative contracts— 5,784 — 5,784 
— 52,481 — 52,481 
Financial liabilities:
Derivative liability— 46,697 — 46,697 
— 46,697 — 46,697 
December 31, 2024
Level 1Level 2Level 3Total
$’000$’000$’000$’000
Financial assets:
Derivative asset— 93,520 — 93,520 
Derivative contracts— 18,602 — 18,602 
— 112,122 — 112,122 
Financial liabilities:
Derivative liability— 92,094 — 92,094 
Derivative contracts— 60 — 60 
— 92,154 — 92,154 
There were no transfers between fair value levels during the three and six months ended June 30, 2025.
See Note 17 – Commitments and contingencies and Note 20 – Financial instruments for details related to the Derivative liability being fair valued using Level 2 inputs.
Derivative Contracts
The Derivative contracts is primarily related to open hedging positions. The fair value of the Derivative contracts is based on quoted prices for similar assets and liabilities in active market or inputs that are observable which represent Level 2 measurements within the fair value hierarchy and is based on observable prices for similar assets sourced by an independent marketplace. Please refer to Note 2 – Significant accounting policies for additional information on ASC 815 leveling.