| 12. |
Trade and other receivables, and prepayments
|
| |
Note |
|
2025
US$’000
|
|
|
2024
US$’000
|
|
Current
|
|
|
|
|
|
|
|
| Trade receivables |
|
|
|
|
|
|
|
|
-related parties1,2
|
|
|
|
2,075
|
|
|
|
501
|
|
| -non-related parties |
|
|
|
320,619 |
|
|
|
322,674 |
|
|
Contract assets
|
|
|
|
|
|
|
|
|
|
|
-non-related parties
|
|
|
|
64,141
|
|
|
|
80,838
|
|
|
Less: Allowance made for trade receivables and contract assets
|
|
|
|
|
|
|
|
|
|
|
-non-related parties
|
20(b)
|
|
|
—
|
|
|
|
—
|
|
|
Prepayments
|
|
|
|
71,867 |
|
|
|
16,159 |
|
|
Other receivables
|
|
|
|
|
|
|
|
|
|
|
- non-related parties
|
|
|
|
63,252 |
|
|
|
83,664 |
|
|
|
|
|
521,954 |
|
|
|
503,836 |
|
Non-current
|
|
|
|
|
|
|
|
|
|
Prepayments
|
|
|
|
1,320 |
|
|
|
— |
|
|
1
|
Related parties refer to joint ventures of the Group.
|
|
2
|
Revisions were made to the prior year comparatives as the Group
has presented trade receivables from related parties of US$501,000 within trade receivables from non-related parties for
the year ended 31 December 2024. This revision had been determined by the Group to be immaterial.
|
The carrying amounts of trade and other receivables, and prepayments, are unsecured and interest free, principally denominated in United States Dollars and
approximate their fair values due to the short period to maturity.
Included within trade receivables as at the
financial years ended 31 December 2025 and 2024 are contract assets. These contract assets relate to the Group’s rights to consideration for proportional performance from voyage charters in progress at the balance sheet date. These contract
assets are transferred to trade receivables when the rights to such consideration become unconditional, typically when the Group has satisfied its performance obligations upon completion of the voyage. As voyage charters in progress have an
expected duration of less than one year, the Group applies the practical expedient available under IFRS 15 and does not disclose information about remaining performance obligations as at balance sheet date. There were no impairment losses recognised on contract assets (2024: US$Nil).
|