XML 19 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 113,073 $ 174,721
Restricted cash 0 14,928
Marketable securities 2,435 2,639
Marketable securities pledged to creditors 0 5,835
Trade accounts receivable, net 63,423 40,974
Related party receivables 11,676 13,255
Other receivables 10,109 22,950
Inventories 80,787 57,858
Voyages in progress 38,492 34,705
Prepaid expenses and accrued income 8,899 7,725
Other current assets 3,851 2,729
Total current assets 332,745 378,319
Long-term assets    
Newbuildings 130,633 48,498
Vessels and equipment, net 3,477,801 3,307,144
Vessels and equipment under finance leases, net 44,880 53,518
Right-of-use assets under operating leases 3,914 8,426
Goodwill 112,452 112,452
Derivative instruments receivable 9,675 0
Investment in associated company 555 1,279
Loan notes receivable from related party 1,388 1,388
Other long-term assets 3,055 7,197
Total assets 4,117,098 3,918,221
Current liabilities    
Short-term debt and current portion of long-term debt 189,286 167,082
Current portion of obligations under finance leases to related party 7,601 7,810
Current portion of obligations under operating leases (including related party amounts of $685 and $661 as of December 31, 2021 and 2020, respectively) 1,122 4,548
Related party payables 36,250 19,853
Trade accounts payable 2,327 7,860
Accrued expenses 42,836 42,529
Derivative instruments payable 5,673 19,261
Other current liabilities 7,580 12,418
Total current liabilities 292,675 281,361
Long-term liabilities    
Long-term debt (including related party amounts of $209,700 and $60,000 as of December 31, 2021 and 2020, respectively) 2,126,910 1,968,924
Obligations under finance leases to related party 40,865 48,467
Obligations under operating leases (including related party amounts of $2,355 and $3,142 as of December 31, 2021 and 2020, respectively) 3,114 4,177
Other long-term liabilities 992 3,739
Total liabilities 2,464,556 2,306,668
Commitments and contingencies
Equity    
Share capital (203,530,979 shares. 2020: 197,692,321 shares. All shares are issued and outstanding at par value $1.00 per share) 203,531 197,692
Additional paid in capital 448,291 402,021
Contributed surplus 1,004,094 1,004,094
Accumulated other comprehensive income 228 200
Retained earnings (deficit) (3,130) 8,018
Total equity attributable to the Company 1,653,014 1,612,025
Non-controlling interest (472) (472)
Total equity 1,652,542 1,611,553
Total liabilities and equity $ 4,117,098 $ 3,918,221