PREPAYMENTS ON VESSELS
Jun. 30, 2026
30 June | 30 June | 31 December | |
USDm | 2026 | 2025 | 2025 |
Cost | |||
Balance as of beginning of period | 3,551.1 | 3,500.9 | 3,500.9 |
Additions | 190.9 | 58.6 | 298.4 |
Disposals | -5.3 | -22.1 | -29.7 |
Transferred from prepayments | 53.1 | — | 3.4 |
Transferred to assets held for sale | — | -160.4 | -221.9 |
Balance | 3,789.8 | 3,377.0 | 3,551.1 |
Depreciation | |||
Balance as of beginning of period | 748.3 | 660.6 | 660.6 |
Disposals | -5.3 | -22.0 | -29.7 |
Depreciation for the period | 117.4 | 102.6 | 209.1 |
Transferred to assets held for sale | — | -67.3 | -91.7 |
Balance | 860.4 | 673.9 | 748.3 |
Impairment | |||
Balance as of beginning of period | 10.6 | 13.6 | 13.6 |
Transferred to assets held for sale | — | -2.2 | -3.0 |
Balance | 10.6 | 11.4 | 10.6 |
Carrying amount | 2,918.8 | 2,691.7 | 2,792.2 |
Included in the carrying amount for "Vessels and capitalized dry-docking" are capitalized dry-docking
costs in the amount of USD 127.6m (30 June 2025: USD 121.9m, 31 December 2025: USD 132.8m).
Depreciation for the six months ended 30 June 2026 related to "Other plant and operating equipment"
amounts to USD 0.9m (30 June 2025: USD 0.5m, 31 December 2025: USD 1.1m) and related to “Land
and buildings” amounts to USD 1.4m (30 June 2025: USD 1.4m, 31 December 2025: USD 2.8m).
Impairment Assessment
For determination of the vessel values, TORM has carried out an impairment indicator assessment and
has found no indication of impairment, and therefore, TORM does not find any need to reassess the
recoverable amount as of 30 June 2026.
NOTE 3 - continued
Non-current Assets Sold During the Period
30 June | 30 June | 31 December | |
USDm | 2026 | 2025 | 2025 |
Assets held for sale | |||
Number of vessels held for sale end of period | — | 2 | 1 |
Carrying amount | — | 31.1 | 24.4 |
Sold and delivered during the year | |||
Number of vessels | — | 4 | 7 |
Vessel sales price (CF) | — | 78.5 | 128.2 |
Carrying amount of vessels and capitalized dry- docking | — | -59.8 | -102.8 |
Bunker and lube oil cost | — | -2.2 | -3.6 |
Transaction costs (CF) | — | -1.6 | -2.8 |
Profit on sale | — | 14.9 | 19.0 |
Sold last year and delivered during the year | |||
Number of vessels | 1 | — | — |
Vessel sales price (CF) | 30.1 | — | — |
Carrying amount of assets held for sale | -24.4 | — | — |
Bunker and lube oil cost | -0.9 | — | — |
Transaction costs (CF) | -0.8 | — | — |
Profit on sale | 4.0 | — | — |
CF: Included in Sale of tangible fixed assets in Consolidated Cash Flow Statement
NOTE 4 - PREPAYMENTS ON VESSELS30 June | 30 June | 31 December | |
USDm | 2026 | 2025 | 2025 |
Balance as of beginning of period | 14.1 | — | — |
Additions | 68.3 | — | 17.5 |
Transferred to vessels | -53.1 | — | -3.4 |
Carrying amount | 29.3 | — | 14.1 |