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CONDENSED CONSOLIDATED CASHFLOW STATEMENT
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Dec. 31, 2021
USD ($)
CASH FLOW FROM OPERATING ACTIVITIES      
Net profit/(loss) for the year $ 117.0 $ (19.2) $ (42.1)
Reversals:      
Profit from sale of vessels (0.8)    
Depreciation 69.7 62.0 130.9
Impairment losses 2.8 0.8 4.6
Share of profit/(loss) from joint ventures 0.1   0.1
Financial income (0.3) (0.2) (0.2)
Financial expenses 23.9 19.7 42.4
Tax expenses 0.7 0.5 1.3
Other non-cash movements 6.0 (0.6) 1.3
Dividends received from joint ventures   0.3 0.3
Interest received and realized exchange gains 0.1 0.2 0.2
Interest paid and realized exchange losses (26.1) (19.9) (41.0)
Income taxes paid (0.3) (0.1) (1.4)
Change in bunkers, receivables and payables, etc. (103.8) (20.3) (48.5)
Net cash flow from operating activities 89.0 23.2 47.9
CASH FLOW FROM INVESTING ACTIVITIES      
Investment in tangible fixed assets (59.6) (210.5) (319.8)
Sale of tangible fixed assets 42.9 10.0 10.0
Change in restricted cash 2.5 38.9 19.2
Net cash flow from investing activities (14.2) (161.6) (290.6)
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds, borrowings 58.2 210.6 548.9
Repayment, borrowings (149.9) (58.2) (253.5)
Capital increase 5.4 1.0 2.9
Transaction costs share issue   (0.3) (0.3)
Net cash flow from financing activities (86.3) 153.1 298.0
Net cash flow from operating, investing and financing activities (11.5) 14.7 55.3
Cash and cash equivalents beginning balance 144.8 89.5 89.5
Cash and cash equivalents ending balance 133.3 104.2 144.8
Restricted cash equivalents ending balance 24.4 7.1 26.9
Cash and cash equivalents, including restricted cash $ 157.7 $ 111.3 $ 171.7