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CONSOLIDATED BALANCE SHEET - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Tangible fixed assets    
Vessels and capitalized dry-docking (Note 7,8,16) $ 1,294,472 $ 1,343,778
Prepayments on vessels (Note 7) 88,378 44,036
Other plant and operating equipment (Note 7) 1,945 1,836
Total tangible fixed assets 1,384,795 1,389,650
Financial assets    
Investments in joint ventures 324 322
Other investments 5 4
Total financial assets 329 326
Total non-current assets 1,385,124 1,389,976
CURRENT ASSETS    
Bunkers 33,204 31,616
Freight receivables (Note 10) 71,281 62,533
Other receivables (Note 11) 11,787 8,134
Prepayments 4,422 3,024
Cash and cash equivalents 134,207 75,971
Current assets, excluding assets held-for-sale 254,901 181,278
Assets held-for-sale (Note 23) 6,550  
Total current assets 261,451 181,278
TOTAL ASSETS 1,646,575 1,571,254
EQUITY    
Common shares (Note 13) 623 623
Treasury shares (Note 13) (2,887) (2,887)
Hedging reserves 7,309 390
Translation reserves 280 (80)
Retained profit 785,725 782,532
Total equity 791,050 780,578
NON-CURRENT LIABILITIES    
Deferred tax liability (Note 12) 44,906 44,967
Mortgage debt and bank loans (Note 2,15,16,18) 629,198 593,912
Finance lease liabilities (Note 18,23) 25,294  
Total non-current liabilities 699,398 638,879
CURRENT LIABILITIES    
Mortgage debt and bank loans (Note 2,15,16,18) 91,720 75,652
Finance lease liabilities (Note 18,23) 2,899 13,624
Trade payables (Note 18) 26,150 28,498
Current tax liabilities 1,393 773
Other liabilities (Note 14,18) 33,822 33,055
Deferred income 143 195
Total current liabilities 156,127 151,797
Total liabilities 855,525 790,676
TOTAL EQUITY AND LIABILITIES $ 1,646,575 $ 1,571,254