20) Emission Trading System | | | | | | | (U.S. Dollars in thousands) | | At June 30, 2026 | | At December 31, 2025 | Balance Sheet: | | | | | | | Current assets | | | | | | | EU ETS (1) receivables for 2025 due at September 30, 2026 (refer to note 18 (b)) | | $ | 6,038 | | $ | 6,597 | Non-current assets: | | | | | | | EU ETS (1) receivables for 2026 due at September 30, 2027 | | | 5,308 | | | — | Total ETS receivables | | $ | 11,346 | | $ | 6,597 |
| | | | | | | (U.S. Dollars in thousands) | | At June 30, 2026 | | At December 31, 2025 | Balance Sheet: | | | | | | | Current liabilities | | | | | | | EU ETS (1) liabilities for 2025 due at September 30, 2026 (refer to note 19) | | $ | 6,038 | | $ | 6,805 | Non-current liabilities: | | | | | | | EU ETS (1) liabilities for 2026 due at September 30, 2027 | | | 5,519 | | | — | Total ETS liabilities | | $ | 11,557 | | $ | 6,805 |
| (1) | The EUs Emission Trading Systems (EU ETS) require that companies are responsible for surrendering CO2 quotas (EU Allowances, EUA’s) to the authorities. EU ETS and the total EUA follows the consumption of bunkers, and the cost is treated like cost of bunkers when the vessel is off-hire, i.e., EU-ETS/EUA is the owners’ cost when the vessel is off hire. EU-ETS/EUA is also owners’ cost for vessels operating in the spot market. |
|