General and administrative expenses

12 Months Ended

Dec. 31, 2024

Analysis of income and expense [abstract]

General and administrative expenses

General and administrative expenses

General and administrative expenses primarily represent employee benefit expenses, professional fees and administrative fees payable to SSH under our administrative services agreement (as described in Note 15).

Employee benefit expenses (excluding crew) consist of:

	For the year ended December 31,
In thousands of U.S. dollars	2024		2023		2022
Short term employee benefits	$	36,437	$	36,768	$	46,678
Share based compensation (see Note 14)	62,509		47,340		20,397
	$	98,946	$	84,108	$	67,075

There are no material post-employment benefits for our executive officers or directors. By law, our employees in Monaco are entitled to a one-time payment of up to two months salary upon retirement if they meet certain minimum service requirements.