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Consolidated Statement of Profit or Loss - USD ($)
12 Months Ended
Jan. 01, 2019
Jan. 01, 2018
Jan. 01, 2017
Dec. 31, 2019
Dec. 31, 2018
[1]
Dec. 31, 2017
[1]
Shipping income            
Revenue (Note 4)       $ 932,377,000 $ 600,024,000 $ 513,368,000
Gains on disposal of vessels/other tangible assets (Note 8)       14,879,000 19,138,000 36,538,000
Other operating income (Note 4)       10,094,000 4,775,000 4,902,000
Total shipping income       957,350,000 623,937,000 554,808,000
Operating expenses            
Voyage expenses and commissions (Note 5)       (144,681,000) (141,416,000) (62,035,000)
Vessel operating expenses (Note 5)       (211,795,000) (185,792,000) (150,427,000)
Charter hire expenses       (604,000) (31,114,000) (31,173,000)
Losses on disposal of vessels/other tangible assets       (75,000) (273,000) (21,027,000)
Impairment on non-current assets held for sale (Note 3)       0 (2,995,000) 0
Depreciation tangible assets (Note 8)       (337,646,000) (270,582,000) (229,777,000)
Depreciation intangible assets       (56,000) (111,000) (95,000)
General and administrative expenses (Note 5)       (66,890,000) (66,232,000) (46,868,000)
Total operating expenses       (761,747,000) (698,515,000) (541,402,000)
RESULT FROM OPERATING ACTIVITIES       195,603,000 (74,578,000) 13,406,000
Finance income       20,572,000 15,023,000 7,266,000
Finance expenses (Note 6)       (119,803,000) (89,412,000) (50,729,000)
Net finance expenses       (99,231,000) (74,389,000) (43,463,000)
Gain on bargain purchase (Note 24)       0 23,059,000 [2] 0 [2]
Share of profit (loss) of equity accounted investees (net of income tax) (Note 25)       16,460,000 16,076,000 30,082,000
PROFIT (LOSS) BEFORE INCOME TAX       112,832,000 (109,832,000) 25,000
Income tax benefit (expense) (Note 7)       (602,000) (238,000) 1,358,000
PROFIT (LOSS) FOR THE PERIOD       112,230,000 (110,070,000) [2],[3] 1,383,000 [2],[3]
Attributable to:            
Owners of the company       $ 112,230,267 $ (110,069,928) $ 1,382,530
Basic earnings per share (Note 14) (in dollars per share)       $ 0.52 $ (0.57) $ 0.01
Diluted earnings per share (Note 14) (in dollars per share)       $ 0.52 $ (0.57) $ 0.01
Weighted average number of shares (basic) (Note 14) (in shares) 218,786,812 158,166,534 158,166,534 216,029,170.7 191,994,398.17 158,166,534
Weighted average number of shares (diluted) (Note 14) (in shares)       216,029,171 191,994,398 158,297,057
[1] The Group initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated. The Group has initially applied IFRS 15 and IFRS 9 at January 1, 2018. Under the transition methods chosen, comparative information is not restated.
[2] .
[3] * The Group initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated.