
		Quoted	Observable	Unobservable	Financial instruments	Financial instruments
		prices	input	input	measured at	measured at	Total
Categories of financial assets and liabilities (USDm):		(level 1)	(level 2)	(level 3)	fair value	amortized cost	carrying value
2019:
Financial assets
Loan receivables	1)	—	—	—	—	4.6	4.6
Freight receivables	1)	—	—	—	—	89.8	89.8
Other receivables		—	0.5	—	0.5	5.7	6.2
Cash and cash equivalents, including restricted cash	1)	—	—	—	—	72.5	72.5
Total		—	0.5	—	0.5	172.6	173.1

Financial liabilities
Borrowings	¹⁾ ²⁾	—	—	—	—	855.4	855.4
Trade payables	1)	—	—	—	—	47.1	47.1
Other liabilities	1)	—	12.3	—	12.3	35.0	47.3
Total		—	12.3	—	12.3	937.5	949.8

2018:

Financial assets
Freight receivables	1)	—	—	—	—	86.0	86.0
Other receivables		—	3.7	—	3.7	3.8	7.5
Cash and cash equivalents, including restricted cash	1)	—	—	—	—	127.4	127.4
Total		—	3.7	—	3.7	217.2	220.9

Financial liabilities
Borrowings	¹⁾ ²⁾	—	—	—	—	749.6	749.6
Trade payables	1)	—	—	—	—	35.1	35.1
Other liabilities	1)	—	3.4	—	3.4	33.1	36.5
Total		—	3.4	—	3.4	817.8	821.2

1) Due to the short maturity, the carrying value is considered to be an appropriate expression of the fair value.

2) See note 15.

³⁾ Derivative financial instruments are presented within the balance sheet line Other receivables and Other liabilities.