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Material accounting policies (Tables)
 12 Months Ended
Dec. 31, 2024
Corporate information and statement of IFRS compliance [abstract]  
Estimated useful lives of property, plant and equipment
The estimated useful lives of significant items of property, plant and equipment are as follows:
-
vessels
20 years
-
FSO/FPSO
30 years
-
CTV's
15 years
-plant and equipment
5 - 20 years
-fixtures and fittings
5 - 10 years
-other tangible assets
3 - 20 years
-dry-docking
2.5 - 5 years
As explained in policy 5.B., management re-assesses on a yearly basis the residual value of its fleet. During 2024, each vessel's residual value was equal to the product of its lightweight tonnage and an estimated net scrap rate of:

-
crude oil tanker
$390/LDT
-
chemical tanker
$420/LDT
-
dry bulk
$410/LDT
-
container
$430/LDT

The reassessment at the end of 2024 resulted in revised rates which are applicable as from January 1, 2025. The revised net scrap rates are the following:

-
crude oil tanker
$460/LDT
-
chemical tanker
$470/LDT
-
dry bulk
$460/LDT
-
container
$480/LDT
(in thousands of USD)VesselsVessels under constructionRight-of-use assetsOther tangible assetsPrepaymentsTotal PPE
At January 1, 2022     
Cost4,875,810 181,293 53,226 5,244 — 5,115,573 
Depreciation & impairment losses(1,908,023)— (24,225)(4,026)— (1,936,274)
Net carrying amount2,967,787 181,293 29,001 1,218 — 3,179,299 
Acquisitions448,850 165,246 14,060 164 — 628,320 
Disposals and cancellations(258,899)— — — — (258,899)
Depreciation charges(199,457)— (21,509)(610)— (221,576)
Transfer to assets held for sale (Note 3)(18,459)— — — (18,459)
Transfers118,110 (118,110)— — — — 
Translation differences— — (59)(10)— (69)
Balance at December 31, 20223,057,932 228,429 21,493 762 — 3,308,616 
At January 1, 2023     
Cost5,014,747 228,429 66,785 5,159 — 5,315,120 
Depreciation & impairment losses(1,956,815)— (45,292)(4,397)— (2,006,504)
Net carrying amount3,057,932 228,429 21,493 762 — 3,308,616 
Acquisitions295,568 41,627 31,557 372 1,031 370,155 
Disposals and cancellations(815,733)— (2,087)— — (817,820)
Depreciation charges(200,896)— (18,040)(492)— (219,428)
Transfer to assets held for sale(870,844)— — — (1,031)(871,875)
Transfers163,543 (163,543)— — — — 
Translation differences— — 13 2 — 15 
Balance at December 31, 20231,629,570 106,513 32,936 644 — 1,769,663 
At January 1, 2024
Cost3,265,939 106,513 56,240 4,717 — 3,433,409 
Depreciation & impairment losses(1,636,369)— (23,304)(4,073)— (1,663,746)
Net carrying amount1,629,570 106,513 32,936 644 — 1,769,663 
Acquisitions155,215 959,692 332 2,292 2,729 1,120,260 
Acquisitions through business combinations (Note 26)
425,564 477,565 1,431 22,219 670 927,449 
Disposals and cancellations(183,374)— (30,162)— (595)(214,131)
Depreciation charges(158,110)— (1,413)(3,625)— (163,148)
Transfer to assets held for sale (Note 3)(165,583)— — — — (165,583)
Disposals through sale of subsidiary
— — (1,184)(137)— (1,321)
Transfers914,788 (914,788)— 1,075 (1,075)— 
Translation differences(586)(577)(30)(840)(72)(2,105)
Balance at December 31, 20242,617,484 628,405 1,910 21,628 1,657 3,271,084 
At December 31, 2024     
Cost4,020,942 628,405 5,212 30,098 1,657 4,686,314 
Depreciation & impairment losses(1,403,458)— (3,302)(8,470)— (1,415,230)
Net carrying amount2,617,484 628,405 1,910 21,628 1,657 3,271,084 
Disposal of assets – Gains/losses
(in thousands of USD)Sale priceBook ValueGainLoss
Sandra - Sale
47,520 47,299 221 — 
Sara - Sale
47,520 46,013 1,507 — 
Sonia - Sale
50,490 50,837 — (347)
Simone - Sale
50,490 50,070 420 — 
Cap Leon - Sale
19,924 9,081 10,843 — 
Cap Pierre - Sale
19,058 11,537 7,521 — 
Cap Guillaume - Sale
34,153 19,597 14,556 — 
Cap Philippe - Sale
32,046 19,165 12,881 — 
Europe - Sale
40,013 5,300 34,713 — 
Other— — 13,500 — 
At December 31, 2022341,214 258,899 96,161 (347)
Sale priceBook ValueGainLoss
Cap Charles - Sale40,523 18,459 22,064 — 
Nautica - Sale53,900 26,847 27,053 — 
Alex - Sale86,397 62,214 24,182 — 
Ardeche - Sale90,410 58,345 32,065 — 
Drenec - Sale86,327 56,279 30,048 — 
Heron - Sale89,130 58,243 30,887 — 
Arafura - Sale87,077 56,673 30,404 — 
Amundsen - Sale90,670 60,007 30,663 — 
Diodorus - Sale113,100 83,911 29,189 — 
Dickens - Sale113,397 83,534 29,863 — 
Dalis - Sale107,930 84,395 23,535 — 
Cassius - Sale123,500 91,635 31,865 — 
Clovis - Sale124,277 93,651 30,625 — 
At December 31, 20231,206,636 834,192 372,444 — 
(in thousands of USD)Sale priceBook ValueGainLoss
Sale priceBook ValueGainLoss
Andaman - Sale86,976 56,636 30,341 — 
Dominica - Sale82,685 52,826 29,858 — 
Hatteras - Sale90,310 59,368 30,942 — 
Derius - Sale104,627 81,458 23,169 — 
Alboran - Sale86,418 56,362 30,056 — 
Delos - Sale112,888 83,611 29,277 — 
Desirade - Sale85,965 56,071 29,894 — 
Alice - Sale85,965 61,625 24,340 — 
Aquitaine - Sale90,268 58,657 31,610 — 
Oceania - Sale43,120 8,294 34,826 — 
Doris - Sale113,010 84,438 28,573 — 
Aral - Sale86,472 56,445 30,027 — 
Anne - Sale86,275 62,820 23,455 — 
Camus - Sale123,420 92,228 31,193 — 
Noble - Sale
53,955 25,716 28,239 — 
Nectar - Sale
53,955 23,873 30,082 — 
Newton - Sale
53,955 33,285 20,670 — 
CMA CGM Baikal - Sale
71,500 55,879 15,621 — 
Sapphira - Sale45,500 14,670 30,830 — 
Statia - Sale41,250 10,723 30,527 — 
Selena - Sale38,170 11,794 26,376 — 
Cap Victor - Sale38,990 15,593 23,397 — 
Cap Felix - Sale42,330 20,989 21,341 — 
Corporate2,000 1,625 375 — 
At December 31, 20241,720,005 1,084,986 635,019 —