Related parties (Tables)

12 Months Ended

Dec. 31, 2025

Disclosure of transactions between related parties [abstract]

Schedule of transactions with associates and their balances of related parties

(a)

Associates:

(i)

Transactions:

		2025		2024		2023
	Note	US $ in millions

Other operating income	19				0.1		0.2

Operating expenses and cost of services	18		3.4		4.0		3.4

Finance income	24(a)		0.7		0.3		0.2

(ii)

Balances:

		2025		2024
	Note	US $ in millions

Trade and other receivables	9		25.4		17.4

Trade and other payables	15		0.5		0.4

Schedule of Key management personnel

(b)

Key management personnel (*):

	2025		2024		2023
	US $ in millions

Short-term employee benefits		5.5		5.6		3.7

Share-based compensation		0.9		2.1		4.0

Long-term employee benefits		0.5		0.5		0.4

(*) See also Notes 12(c), 14(i) and 14(j).

Schedule of other related parties transactions and balances

(c)

Other related parties (excluding those detailed in (a)-(b) above)

(i)

Transactions:

		2025	2024		2023
	Note	US $ in millions

Income from voyages and related services	17			13.2		5.1
Finance expenses (*)	24(b)			19.0		4.3

(ii)

Transactions with directors:

	2025		2024		2023
	US $ in millions

Directors’ fees		1.1		1.0		1.0
Share-based compensation		0.2		0.4		1.0

(iii)

Balances:

		2025		2024
	Note	US $ in millions

Trade and other receivables	9				1.4
Trade and other payables	15		0.1		0.3
Lease liabilities (*)	8				261.2

(*)

As at December 31, 2025, the Company’s financial statements include lease liabilities in the amount of US$ 227 million in respect of vessel charter arrangements with entities that were classified as related parties at the time of engagement. During the years ended December 31, 2025 and 2024, the Group paid (principal and interest) amounts of US$ 53 million and US$ 128 million, respectively, in connection with these lease liabilities.