28 Related parties

The Group’s transactions with related parties as detailed below are mainly comprised of compensation to directors and key-management personnel, transactions with associates and transactions with entities which are controlled by or under joint control of those which retain significant influence over the Company.

(a)

Associates:

(i)

Transactions:

2022

2021

2020

Note

US $ in millions

Other operating income

0.4

0.4

0.1

Operating expenses and cost of services

11.0

6.0

2.2

Finance income

23(a)

0.1

(ii)

Balances:

2022

2021

Note

US $ in millions

Trade and other receivables

18.5

22.5

Trade and other payables

0.3

0.2

(b) Key management personnel (*):

2022

2021

2020

US $ in millions

Short-term employee benefits

5.6

5.9

5.4

Share-based compensation

5.7

9.4

0.2

Long-term employee benefits

0.5

0.5

0.4

(*) See also Notes 11(c), 13(h) and 13(i).

(c) Other related parties (excluding those detailed in (a)-(b) above)

(i) Transactions:

			2022		2021		2020
	Note		US $ in millions

Income from voyages and related services		16		19.5		16.8		8.1
Operating expenses and cost of services		17		1.4		5.0		7.3
Finance expenses		23 (b)		4.4		7.7		5.4

(ii)

Transactions with directors:

2022

2021

2020

US $ in millions

Directors fees

1.1

1.2

1.3

Share-based compensation

1.7

	(iii)	Balances:

2022

2021

Note

US $ in millions

Trade and other receivables

2.4

3.3

Trade and other payables

0.2

0.5

Lease liabilities (*)

41.4

114.3

(*) Includes lease liabilities for which the Group paid (principal and interest) US$ 64 million and US $70 million during the year ended December 31, 2022 and 2021 respectively.

(d) Transactions with relate parties were carried out in common market terms in the ordinary course of business. Regarding commitments to related parties, see also Note 26.