Financial risk management, objectives and policies (Tables)

12 Months Ended

Dec. 31, 2019

Financial risk management, objectives and policies [Abstract]

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting dates was:

(Dollars in thousands)	2019		2018
Cash and cash equivalents	$	67,356	$	94,944
Accounts receivable and accrued revenues		107,848		60,196
Maximum credit exposure	$	175,204	$	155,140

Contractual Maturities of Financial Liabilities

The following are contractual maturities of financial liabilities, including estimated interest payments on an undiscounted basis. Swap payments are the net effect from paying fixed rate/ receive LIBOR. The LIBOR interest spot rate at December 31, 2019 (and spot rate at December 31, 2018 for comparatives) is used as a basis for preparation.

As of December 31, 2019
(Dollars in thousands)	1 year		2 to 5 years		More than 5 years		Total
Interest bearing loans	$	140,707	$	855,593	$	-	$	996,301
Interest rate swaps		3,523		8,105		-		11,629
Total	$	144,230	$	863,699	$	-	$	1,007,929

As of December 31, 2018
(Dollars in thousands)	1 year		2 to 5 years		More than 5 years		Total
Interest bearing loans	$	146,574	$	723,031	$	307,692	$	1,177,298
Interest rate swaps		593		1,832		-		2,424
Total	$	147,167	$	724,863	$	307,692	$	1,179,722