Trade and other payables

6 Months Ended

Jun. 30, 2026



(in thousands of USD)	June 30, 2026	December 31, 2025

Other payables	15,072	—
Derivatives	—	20
Total non-current other payables	15,072	20
Trade payables	87,212	79,942
Accrued expenses	58,377	36,330
Accrued payroll	5,154	6,816
Dividends payable	108	14,616
Contract liabilities	77,523	78,734
Other payables	6,765	6,054
Total current trade and other payables	235,139	222,492

The increase in non-current other payables is primarily due to the deferred consideration for the

acquisition of an additional 5% stake in TFG Marine, equity accounted investee and a related party.

The increase in current trade and other payables is primarily attributable to an increase in the accrued

expenses and in trade payables. This was partially offset by a decrease in dividends payable. Trade

payables include payables to TFG Marine of $22.9 million (see Note 25 – Investments for further details).