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Right of use assets and related lease liabilities (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure of leases [Abstract] |
Disclosure of quantitative information about right-of-use assets | The following is the activity of the "Right of use assets for vessels" starting on January 1, 2022 through December 31, 2023:
In thousands of U.S. Dollars |  | Vessels |  | Drydock |  | Total
Cost |  |  |  |  |  |  |
| As of January 1, 2023 |  | $ | 798,083 |  |  | $ | 22,577 |  |  | $ | 820,660 |
| Transfers to vessels, net (1) |  | (831,385) |  |  | (19,942) |  |  | (851,327) |
| Additions (2) |  | 33,302 |  |  | — |  |  | 33,302 |
| Write-offs (3) |  | — |  |  | (2,635) |  |  | (2,635) |
| As of December 31, 2023 |  | — |  |  | — |  |  | — |
Accumulated depreciation and impairment |  |  |  |  |  |
| As of January 1, 2023 |  | (114,902) |  |  | (15,932) |  |  | (130,834) |
| Charge for the period |  | (21,321) |  |  | (2,923) |  |  | (24,244) |
| Transfers to vessels, net (1) |  | 136,223 |  |  | 16,220 |  |  | 152,443 |
| Write-offs (3) |  | — |  |  | 2,635 |  |  | 2,635 |
| As of December 31, 2023 |  | — |  |  | — |  |  | — |
Net book value |  |  |  |  |  |
| As of December 31, 2023 |  | $ | — |  |  | $ | — |  |  | $ | — |
(1) Primarily represents the net book value of the 21 vessels for which the purchase options were exercised during the year ended December 31, 2023 and transferred to Vessels and drydock. (2) Represents the adjustment to the right of use asset as a result of the remeasurement of the related lease liability upon the commitments to exercise the purchase options. (3) Represents the write-offs of fully depreciated notional drydock costs on certain of our vessels.
In thousands of U.S. Dollars |  | Vessels |  | Drydock |  | Total
Cost |  |  |  |  |  |  |
| As of January 1, 2022 |  | $ | 836,246 |  |  | $ | 23,562 |  |  | $ | 859,808 |
| Disposal of vessels (1) |  | (38,163) |  |  | (985) |  |  | (39,148) |
| As of December 31, 2022 |  | 798,083 |  |  | 22,577 |  |  | 820,660 |
Accumulated depreciation and impairment |  |  |  |  |  |
| As of January 1, 2022 |  | (84,221) |  |  | (11,562) |  |  | (95,783) |
| Charge for the period |  | (33,928) |  |  | (4,899) |  |  | (38,827) |
| Disposal of vessels (1) |  | 3,247 |  |  | 529 |  |  | 3,776 |
| As of December 31, 2022 |  | (114,902) |  |  | (15,932) |  |  | (130,834) |
Net book value |  |  |  |  |  |
| As of December 31, 2022 |  | $ | 683,181 |  |  | $ | 6,645 |  |  | $ | 689,826 |
(1) Represents the net book value of one MR vessel (STI Majestic) which was sold during the year ended December 31, 2022. This transaction is described in Note 5 above. The following table summarizes the payments made for the years ended December 31, 2023 and 2022 relating to lease liabilities accounted for under IFRS 16 - Leases:
| For the year ended December 31,
In thousands of U.S. dollars | 2023 |  | 2022
Interest expense recognized in consolidated statements of operations | $ | 23,749 |  |  | $ | 30,420 |
Principal repayments recognized in consolidated cash flow statements (1) | 516,127 |  |  | 79,502 |
Net decrease (increase) in accrued interest expense | 467 |  |  | (188) |
Total payments on lease liabilities under IFRS 16 - Leases | $ | 540,343 |  |  | $ | 109,734 |
(1) Principal repayments during the year ended December 31, 2022 includes the $25.6 million repayment of the lease obligation of one MR vessel (STI Majestic) which was sold during the year ended December 31, 2022. This transaction is described above.

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- Definition The disclosure of quantitative information about right-of-use assets. [Refer: Right-of-use assets] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Paragraph 53 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&anchor=para_53&doctype=Standard -URIDate 2023-03-23 + Details
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- Definition Disclosure of leases [Abstract] + References No definition available. + Details
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