Borrowings (Tables)

12 Months Ended

Dec. 31, 2024

Borrowings [Abstract]

Borrowings

	2024 US$’000		2023 US$’000
Current
Bank borrowings		252,556		174,004
Sales and leaseback liabilities (accounted for as financing transaction)		64,506		57,305
Other lease liabilities		19,233		36,019
		336,295		267,328
Non-current
Loans from non-related parties		—		—
Bank borrowings		322,820		398,507
Sales and leaseback liabilities (accounted for as financing transaction)		461,924		622,174
Other lease liabilities		1,210		4,342
		785,954		1,025,023
Total borrowings		1,122,249		1,292,351

Bank Borrowings

The table below summarises key information of the bank borrowings:

Facility amount	Outstanding amount US$’000		Maturity date
US$473 million facility		87,098
- US$413 million term loan				2026
- US$60 million revolving credit facility				2026
US$374 million facility		—
- US$100 million revolving credit facility				2028
US$216 million facility		131,250		2026
US$84 million facility (DSF)		79,683		2029
US$84 million facility		49,855
- US$68 million term loan				2026
- US$16 million revolving credit facility				2026
US$39 million facility		15,464
-US$30 million term loan				2025
-US$9 million revolving credit facility				2025
Up to US$175 million borrowing base facility		40,500		2025
Up to US$175 million borrowing base facility (with an accordion option of up to US$75 million)		58,500		2025
US$40 million facility		35,881		2029
US$303 million facility		80,000
- US$303 million revolving credit facility		—		2029

Borrowings Subsequently Derecognized

These transactions were accounted for as an extinguishment of existing sales and leaseback liabilities (accounted for as financing transaction).

Facility amount	Outstanding amount US$’000		Maturity date
US$414 million SLB facility		324,788		2032
CTI vessels facilities		157,905		2023 – 2031
Hafnia Tankers finance leases		43,737		2025 – 2030

Weighted Average Effective Interest Rates of Borrowings

The weighted average effective interest rates per annum of total borrowings at the balance sheet date are as follows:

	2024			2023
Bank borrowings		6.8	%		6.7	%
Sales and leaseback liabilities (accounted for as financing transaction)		6.9	%		7.4	%

Maturity of Borrowings

The non-current borrowings have the following maturity:

	2024 US$’000		2023 US$’000
Later than one year and not later than five years		517,013		649,710
Later than five years		268,941		375,313
		785,954		1,025,023