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LEASING (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of right-of-use assets recognized by the company


		Vessels and				Other plant
		capitalized		Land and		and operating
USDm		dry-docking		buildings		equipment

Cost:
Balance as of 1 January		43.3		—		—
Adjustment on transition to IFRS 16		—		9.9		0.3
Additions		1.8		0.5		0.4
Disposals		(2.7)		—		(0.1)
Balance as of 31 December		42.4		10.4		0.6

Depreciation:
Balance as of 1 January		13.4		—		—
Disposals		(2.7)		—		—
Depreciation for the year		4.8		2.3		0.2
Balance as of 31 December		15.5		2.3		0.2

Carrying amount as of 31 December		26.9		8.1		0.4

Schedule of the nature of the Group's leasing activities by type of right-of-use asset recognized on the balance sheet


									Other plant
		Vessels and capitalized			Land and				and operating
		dry-docking			buildings				equipment

No. of right-of-use assets leased		3					10				19
Range of remaining term		2	years				0-9	years			0-3	years
Average remaining lease term		2.3	years				2.8	years			1.3	years
No. of leases with extension options		—					10				19
No. of leases with options to purchase		3					—				—
No. of leases with termination options		3					2				10

Schedule of Maturity analysis of lease liabilities


USDm		2019		2018
Maturity analysis - contractual undiscounted cash flow
Less than one year		7.5		5.2
One to five years		27.6		25.6
More than five years		0.1		—
Total undiscounted lease liabilities as of 31 December		35.2		30.8
Lease liabilities included under "Borrowings" as of 31 December		30.6		25.3

Non-current		10.2		3.2
Current		20.4		22.1

Schedule of financial expenses for the reporting period


USDm		2019		2018		2017
Interest expenses:				—		—
Financial expenses arising from lease liabilities regarding right-of-use assets		2.4		2.3		1.8
Other financial expenses		39.5		37.0		38.8
Total		41.9		39.3		40.6