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Charter arrangements (Tables) | 12 Months Ended
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Dec. 31, 2022
Charter arrangements [Abstract] |
Shipping Revenues | The below table details the Company’s shipping revenues:
(Dollars in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Time charter revenues1 |  | $ | 75,790 |  |  | $ | 140,730 |  |  | $ | 182,663 |
Voyage charter revenues |  |  | 374,592 |  |  |  | 155,124 |  |  |  | 508,375 |
Shipping revenues |  | $ | 450,381 |  |  | $ | 295,853 |  |  | $ | 691,039 |
Other revenues2 |  |  | 3,764 |  |  |  | - |  |  |  | - |
Total revenues |  | $ | 454,146 |  |  | $ | 295,853 |  |  | $ | 691,039 |
1 | Time charter revenues are presented in accordance with IFRS 16, while the portion of time charter revenues related to technical management services, equaling $19,144 thousand, $36,384 thousand and $33,224 thousand, for 2022, 2021, and 2020 respectively, is recognized in accordance with IFRS 15.
2 | Other revenues mainly relate to technical management services provided.
Vessel Employment | The following summarizes the Company’s vessel employment as of December 31, 2022:
Vessel |  | Type of Employment |  | Expiry |
VLCC |  |  |  |  |
DHT Mustang |  | Time charter |  |  | Q2 2023 |
DHT Bronco |  | Spot |  |  |  |
DHT Colt |  | Time charter |  |  | Q3 2023 |
DHT Stallion |  | Spot |  |  |  |
DHT Tiger |  | Spot |  |  |  |
DHT Harrier |  | Time charter |  |  | Q4 2024 |
DHT Puma |  | Spot |  |  |  |
DHT Panther |  | Spot |  |  |  |
DHT Osprey |  | Time charter |  |  | Q2 2027 |
DHT Lion |  | Spot |  |  |  |
DHT Leopard |  | Spot |  |  |  |
DHT Jaguar |  | Spot |  |  |  |
DHT Taiga |  | Spot |  |  |  |
DHT Opal |  | Spot |  |  |  |
DHT Sundarbans |  | Spot |  |  |  |
DHT Redwood |  | Spot |  |  |  |
DHT Amazon |  | Time charter |  |  | Q2 2023 |
DHT Peony |  | Spot |  |  |  |
DHT Lotus |  | Spot |  |  |  |
DHT China |  | Spot |  |  |  |
DHT Europe |  | Spot |  |  |  |
DHT Bauhinia |  | Spot |  |  |  |
DHT Scandinavia |  | Spot |  |  |  |
Future Charter Payments | The future revenues expected to be received from the time charters for the Company’s vessels on existing charters as of the reporting date are as follows:
(Dollars in thousands) Year |  | Amount |
2023 |  | $ | 40,509 |
2024 |  |  | 23,359 |
2025 |  |  | 13,320 |
2026 |  |  | 12,580 |
2027 |  |  | 6,105 |
Thereafter |  |  | - |
Net charter payments |  | $ | 95,873 |
Contract Balances | Contract balances and related disclosures have been included in the following places in the notes to the Company’s consolidated financial statements:
|  | Note |
Accounts receivable and accrued revenues |  | notes 8,9 |
Deferred shipping revenues relate to charter hire payments paid in advance. The year-end deferred shipping revenues balances have been recognized as revenue in the following year due to the short-term nature of the advances.
(Dollars in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Deferred shipping revenues |  | $ | 4,172 |  |  | $ | 4,865 |  |  | $ | 16,236 |
Capitalized voyage expenses Voyage expenses are capitalized between the previous discharge port, or contract date if later, and the next load port and amortized between load port and discharge port. The closing balance of assets recognized from the costs to obtain or fulfil a contract was:
(Dollars in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Capitalized voyage expenses |  | $ | 2,799 |  |  | $ | 1,395 |  |  | $ | 1,039 |

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