Cash and cash equivalents including restricted cash

12 Months Ended

Dec. 31, 2024

Cash and cash equivalents including restricted cash [Abstract]

Cash and cash equivalents including restricted cash

17. Cash and cash equivalents including restricted cash

	2024 US$’000			2023 US$’000
Cash at bank and on hand		195,271			141,621
Cash retained in the commercial pools		88,297			80,900
Restricted cash		13,542			13,381
		297,110			235,902
Less: Restricted cash		(13,542	)		(13,381	)
Cash and cash equivalents		283,568			222,521

Cash at bank and on hand includes fixed deposits placed in various financial institutions, which bear interest from 4.00% to 5.48% (2023: 3.05% to 5.56%), with varying periods to maturity.

For the financial years ended 2024 and 2023, the restricted cash represents amounts placed in debt service reserve accounts for sale and leaseback financing, as well as cash from FFA collateral accounts. This restricted cash is not available to finance the Group’s day to day operations.

The cash retained in the commercial pools represents cash in the pool bank accounts that are opened in the name of the Group’s pool management company and can only be used for the operation of vessels within the commercial pools.