Financial information (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Financial information [Abstract] |
|
| Financial Assets Measured at Fair Value |
| |
|
Carrying amount
|
|
Fair value
|
|
| |
|
Fair value
hedging
instruments/
Mandatorily at
FVTPL – others
USD’000
|
Financial
assets at
amortised
cost
USD’000
|
FVOCI –
equity
instruments
USD’000
|
Total
USD’000
|
|
Level 1
USD’000
|
Level 2
USD’000
|
Level 3
USD’000
|
Total
USD’000
|
|
| |
At 30 June 2026
|
|
|
|
|
|
|
|
|
|
|
| |
Financial assets measured at fair value
|
|
|
|
|
|
|
|
|
|
|
| |
Forward foreign exchange contracts
|
–
|
–
|
–
|
–
|
|
–
|
–
|
–
|
–
|
|
| |
Forward freight agreements
|
500
|
–
|
–
|
500
|
|
–
|
500
|
–
|
500
|
|
| |
Interest rate swaps used for hedging
|
8,935
|
–
|
–
|
8,935
|
|
–
|
8,935
|
–
|
8,935
|
|
| |
Other investments
|
–
|
–
|
381,872
|
381,872
|
|
369,272
|
–
|
12,600
|
381,872
|
|
| |
Loans receivable from joint venture
|
9,123
|
–
|
–
|
9,123
|
|
–
|
–
|
9,123
|
9,123
|
|
| |
|
18,558
|
–
|
381,872
|
400,430
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
At 30 June 2026
|
|
|
|
|
|
|
|
|
|
|
| |
Financial assets not measured at fair value
|
|
|
|
|
|
|
|
|
|
|
| |
Loans receivable from joint ventures
|
–
|
50,993
|
–
|
50,993
|
|
|
|
|
|
|
| |
Trade and other receivables, and prepayments1
|
–
|
540,754
|
–
|
540,754
|
|
|
|
|
|
|
| |
Restricted cash
|
–
|
20,000
|
–
|
20,000
|
|
|
|
|
|
|
| |
Cash at bank and on hand
|
–
|
270,983
|
–
|
270,983
|
|
|
|
|
|
|
| |
Cash retained in the commercial pools
|
–
|
82,177
|
–
|
82,177
|
|
|
|
|
|
|
| |
|
–
|
964,907
|
–
|
964,907
|
|
|
|
|
|
|
| |
|
Carrying amount
|
|
Fair value
|
|
| |
|
Fair value hedging
instruments
USD’000
|
Other financial
liabilities
USD’000
|
Total
USD’000
|
|
Level 1
USD’000
|
Level 2
USD’000
|
Level 3
USD’000
|
Total
USD’000
|
|
| |
At 30 June 2026
|
|
|
|
|
|
|
|
|
|
| |
Financial liabilities measured at fair value
|
|
|
|
|
|
|
|
|
|
| |
Forward foreign exchange contracts
|
(765)
|
–
|
(765)
|
|
–
|
(765)
|
–
|
(765)
|
|
| |
Forward freight agreements
|
(5,281)
|
–
|
(5,281)
|
|
–
|
(5,281)
|
–
|
(5,281)
|
|
| |
|
(6,046)
|
–
|
(6,046)
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| |
At 30 June 2026
|
|
|
|
|
|
|
|
|
|
| |
Financial liabilities not measured at fair value
|
|
|
|
|
|
|
|
|
|
| |
Bank borrowings
|
–
|
(808,299)
|
(808,299)
|
|
|
|
|
|
|
| |
Sale and leaseback liabilities and other lease liabilities
|
–
|
(77,064)
|
(77,064)
|
|
|
|
|
|
|
| |
Trade and other payables
|
–
|
(410,051)
|
(410,051)
|
|
|
|
|
|
|
| |
|
–
|
(1,295,414)
|
(1,295,414)
|
|
|
|
|
|
|
1 Excluding prepayments
|
| Financial Liabilities Measured at Fair Value |
| |
|
Carrying amount
|
|
Fair value
|
| |
|
Fair value
hedging
instruments/
Mandatorily at
FVTPL – others
USD’000
|
Financial
assets at
amortised
cost
USD’000
|
FVOCI –
equity
instruments
USD’000
|
Total
USD’000
|
|
Level 1
USD’000
|
Level 2
USD’000
|
Level 3
USD’000
|
Total
USD’000
|
| |
At 31 December 2025
|
|
|
|
|
|
|
|
|
|
| |
Financial assets measured at fair value
|
|
|
|
|
|
|
|
|
|
| |
Forward foreign exchange contracts
|
267
|
–
|
–
|
267
|
|
–
|
267
|
–
|
267
|
| |
Forward freight agreements
|
590
|
–
|
–
|
590
|
|
–
|
590
|
–
|
590
|
| |
Interest rate swaps used for hedging
|
8,007
|
–
|
–
|
8,007
|
|
–
|
8,007
|
–
|
8,007
|
| |
Other investments
|
–
|
–
|
297,581
|
297,581
|
|
284,981
|
–
|
12,600
|
297,581
|
| |
Loans receivable from joint venture
|
7,046
|
–
|
–
|
7,046
|
|
–
|
–
|
7,046
|
7,046
|
| |
|
15,910
|
–
|
297,581
|
313,491
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| |
At 31 December 2025
|
|
|
|
|
|
|
|
|
|
| |
Financial assets not measured at fair value
|
|
|
|
|
|
|
|
|
|
| |
Loans receivable from joint ventures
|
–
|
52,799
|
–
|
52,799
|
|
|
|
|
|
| |
Trade and other receivables, and prepayments1
|
–
|
450,087
|
–
|
450,087
|
|
|
|
|
|
| |
Restricted cash
|
–
|
10,000
|
–
|
10,000
|
|
|
|
|
|
| |
Cash at bank and on hand
|
–
|
103,609
|
–
|
103,609
|
|
|
|
|
|
| |
Cash retained in the commercial pools
|
–
|
88,966
|
–
|
88,966
|
|
|
|
|
|
| |
|
–
|
705,461
|
–
|
705,461
|
|
|
|
|
|
| |
|
Carrying amount
|
|
Fair value
|
| |
|
Fair value hedging
instruments
USD’000
|
Other financial
liabilities
USD’000
|
Total
USD’000
|
|
Level 1
USD’000
|
Level 2
USD’000
|
Level 3
USD’000
|
Total
USD’000
|
| |
At 31 December 2025
|
|
|
|
|
|
|
|
|
| |
Financial liabilities measured at fair value
|
|
|
|
|
|
|
|
|
| |
Forward freight agreements
|
(163)
|
–
|
(163)
|
|
–
|
(163)
|
–
|
(163)
|
| |
|
(163)
|
–
|
(163)
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
At 31 December 2025
|
|
|
|
|
|
|
|
|
| |
Financial liabilities not measured at fair value
|
|
|
|
|
|
|
|
|
| |
Bank borrowings
|
–
|
(1,048,125)
|
(1,048,125)
|
|
|
|
|
|
| |
Sale and leaseback liabilities and other lease liabilities
|
–
|
(74,851)
|
(74,851)
|
|
|
|
|
|
| |
Trade and other payables
|
–
|
(350,735)
|
(350,735)
|
|
|
|
|
|
| |
|
–
|
(1,473,711)
|
(1,473,711)
|
|
|
|
|
|
1 Excluding prepayments
|
| Reconciliation from Investment in Unquoted Equity Instruments |
The following table shows a reconciliation from the opening balances to the closing balances of the Group’s investment in unquoted equity instruments
measured at FVOCI using Level 3 fair value measurements:
| |
|
30 June 2026
USD’000
|
31 December 2025
USD’000
|
| |
Opening balance
|
12,600
|
23,069
|
| |
Equity investments at FVOCI – net change in fair value
|
–
|
(2,699)
|
| |
Conversion of debt into equity
|
–
|
36
|
| |
Transfer from Level 3 to Level 1
|
–
|
(7,806)
|
| |
Closing balance
|
12,600
|
12,600
|
|
| Loans receivable from a joint venture measured at Level 3 fair value |
The following table shows a reconciliation from the opening balances to the closing balances of the Group’s loans receivable to a joint venture
measured at FVTPL using Level 3 fair value measurements:
| |
|
30 June 2026
USD’000
|
31 December 2025
USD’000
|
| |
Opening balance
|
7,046
|
–
|
| |
Issuance of convertible loan notes
|
4,674
|
7,046
|
| |
Effect of foreign exchange movements
|
(316)
|
–
|
| |
Net change in fair value
|
(2,281)
|
–
|
| |
Closing balance
|
9,123
|
7,046
|
|