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Leases (Tables)

6 Months Ended

Jun. 30, 2022

Leases

Schedule of outstanding principal balances on finance lease facility

​

​	​	​	​	​
​		As at
In thousands of U.S. Dollars		June 30, 2022		December 31, 2021
Japanese Leases No.1 and 2	​	—		21,677
Japanese Lease No.3	​	9,237		10,747
CMBFL Leases No.1 to 4	​	61,615		65,187
Ocean Yield ASA	​	47,638	​	50,320
Japanese Lease No.4	​	18,819		19,942
China Huarong Leases	​	35,131		37,385
CMBFL / Shandong	​	62,802	​	65,625
Finance lease obligations	​	235,242		270,883
Amounts representing interest and deferred finance fees	​	(37,219)		(44,428)
Finance lease obligations, net of interest and deferred finance fees	​	198,023		226,455
Current portion of finance lease obligations	​	25,428		21,783
Current portion of deferred finance fees	​	(519)		(699)
Non-current portion of finance lease obligations	​	175,091		207,592
Non-current portion of deferred finance fees	​	(1,977)		(2,221)
Total finance lease obligations, net of deferred finance fees	​	198,023		226,455

Schedule of future minimum lease payments required under the finance lease facilities

Maturity analysis of the Company’s finance lease facilities for each year are as follows:

​	​	​
​	​	As at
In thousands of U.S. Dollars	​	June 30, 2022
2022(1)		21,720
2023		24,528
2024		23,887
2025		81,558
2026		12,550
2027 - 2030		70,999
Finance lease obligations		235,242
Amounts representing interest and deferred finance fees		(37,219)
Finance lease obligations, net of interest and deferred finance fees		198,023

​

(1) Six-month period ending December 31, 2022

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- References

No definition available.

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- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980

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- Definition

Tabular disclosure of the components of the investment in leveraged leases.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 30
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123392090&loc=d3e45424-112738

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123392319&loc=SL77920254-209983

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