v3.26.1
Vessels
6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Vessels
3. Vessels
Vessels
Drydocking
Total 
(in thousands)
Cost
January 1, 2026
$2,396,180$95,625$2,491,805
Additions
11,06211,062
Write-offs of fully depreciated assets (444)(6,048)(6,492)
Transfer to assets held for sale(36,141)(3,365)(39,506)
June 30, 2026
2,359,59597,2742,456,869
Accumulated Depreciation
January 1, 2026
838,99251,768890,760
Charge for the period
51,82111,42963,250
Transfer to assets held for sale(22,057)(2,218)(24,275)
Write-offs of fully depreciated assets (444)(6,048)(6,492)
June 30, 2026
868,31254,931923,243
Net Book Value
December 31, 2025
1,557,18843,8571,601,045
June 30, 2026
$1,491,283$42,343$1,533,626

The cost and net book value as of June 30, 2026, of the 30 vessels that were contracted under time charter arrangements (please read Note 2—Operating Revenues for additional information) were $1,603 million and $946 million, respectively (December 31, 2025: $1,539 million and $974 million, respectively, for 29 vessels contracted under time charters).
The net book value of vessels that serve as collateral for the Company’s secured term loan and revolving credit facilities (please read Note 7. Secured Term Loan Facilities and Revolving Credit Facilities, for additional information) was $1,387 million as of June 30, 2026, (December 31, 2025: