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INVENTORIES
12 Months Ended
Dec. 31, 2021
Disclosure Of Inventories [Abstract]  
INVENTORIES
 
12
INVENTORIES
 
 
 
2021
 
 
2020
 
 
 
US$’000
 
 
US$’000
 
 
 
 
 
 
 
 
Bunkers and other consumables at cost
 
 
13,909
 
 
 
8,700
 
 
 
 
-
 
 
 
-
 
Ships reclassified from ships, property, plant and equipment as inventories (Note 13)
(a)
 
 
48,935
 
 
 
42,353
 
Sale of ships in discontinued operation, recognised as inventories
(a)
 
 
(48,935
)
 
 
(42,353
)
 
 
 
13,909
 
 
 
8,700
 
 
 
(a)
Ships reclassified from ships, property, plant and equipment as inventories is reconciled as follows:
 
 
 
2021
 
 
2020
 
 
 
US$’000
 
 
US$’000
 
 
 
 
 
 
 
 
Cost
 
 
70,204
 
 
 
109,501
 
Accumulated depreciation
 
 
(8,982
)
 
 
(45,026
)
Impairment
 
 
(12,287
)
 
 
(22,122
)
Carrying amount
 
 
48,935
 
 
 
42,353
 
 
On 11 March 2021, the Group entered into memoranda of agreement with third parties for the sale of three ships at purchase consideration of US$21,400,000, US$21,400,000 and US$6,800,000 respectively. The ships were delivered to third parties on 12 April 2021, 14 April 2021 and 20 April 2021.
 
On 29 January 2020, 8 April 2020, 4 May 2020 and 16 July 2020, the Group entered into memoranda of agreement with third parties for the sale of a ship at purchase consideration of US$9,150,000, US$14,100,000, US$15,300,000 and US$5,090,000 respectively. The ships were delivered to third parties on 28 February 2020, 4 June 2020, 25 June 2020 and 2 September 2020.