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v3.25.4

TANGIBLE FIXED ASSETS - Schedule of Tangible Fixed Assets (Details) - USD ($) $ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | $ 2,842.7 | $ 2,170.3 |
Balance as of 31 December | 2,821.9 | 2,842.7 | $ 2,170.3
PREPAYMENTS ON VESSELS |  |  |
Beginning balance | 0.0 | 86.0 | 0.0
Additions | 17.5 | 111.5 | 126.6
Transferred to vessels | (3.4) | (197.5) | (40.6)
End balance | 14.1 | 0.0 | 86.0
Land and buildings |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | 8.1 | 5.5 |
Balance as of 31 December | 9.7 | 8.1 | 5.5
Land and buildings | Cost: | Property, plant and equipment |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | 17.6 | 14.6 | 12.0
Exchange rate adjustments | (0.1) | (0.2) | (0.2)
Additions | 4.5 | 5.6 | 4.4
Disposals | (7.5) | (2.4) | (1.6)
Balance as of 31 December | 14.5 | 17.6 | 14.6
Land and buildings | Depreciation: | Property, plant and equipment |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | (9.5) | (9.1) | (8.2)
Exchange rate adjustments | 0.0 | (0.2) | 0.0
Disposals | 7.5 | 2.3 | 1.6
Depreciation for the year | 2.8 | 2.5 | 2.5
Balance as of 31 December | (4.8) | (9.5) | (9.1)
Vessels and capitalized dry-docking |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | 2,826.7 | 2,070.2 |
Balance as of 31 December | 2,792.2 | 2,826.7 | 2,070.2
Vessels and capitalized dry-docking | Cost: | Property, plant and equipment |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | 3,500.9 | 2,622.1 | 2,421.2
Additions | 298.4 | 792.7 | 476.0
Disposals | (29.7) | (20.7) | (31.9)
Transfers | 3.4 | 197.5 | 40.6
Transferred to assets held for sale | (221.9) | (90.7) | (283.8)
Balance as of 31 December | 3,551.1 | 3,500.9 | 2,622.1
Vessels and capitalized dry-docking | Depreciation: | Property, plant and equipment |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | (660.6) | (536.3) | (543.8)
Disposals | 29.7 | 20.7 | 31.9
Depreciation for the year | 209.1 | 186.7 | 143.7
Transferred to assets held for sale | 91.7 | 41.7 | 119.3
Balance as of 31 December | (748.3) | (660.6) | (536.3)
Vessels and capitalized dry-docking | Impairment: | Property, plant and equipment |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | (13.6) | (15.6) | (21.5)
Transferred to assets held for sale | 3.0 | 2.0 | 5.9
Balance as of 31 December | (10.6) | (13.6) | (15.6)
Other plant and operating equipment |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | 3.3 | 4.4 |
Balance as of 31 December | 2.5 | 3.3 | 4.4
Other plant and operating equipment | Cost: | Property, plant and equipment |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | 5.9 | 11.2 | 10.5
Adjustments to prior years | 4.0 | 0.0 | 0.0
Exchange rate adjustments | 0.0 | (0.1) | 0.0
Additions | 1.0 | 1.3 | 1.3
Disposals | (1.5) | (6.5) | (0.6)
Transfers | (5.0) | 0.0 | 0.0
Balance as of 31 December | 4.4 | 5.9 | 11.2
Other plant and operating equipment | Depreciation: | Property, plant and equipment |  |  |
Reconciliation of changes in property, plant and equipment |  |  |
Balance as of 01 January | (2.6) | (6.8) | (4.9)
Adjustments to prior years | (4.0) | 0.0 | 0.0
Exchange rate adjustments | 0.0 | 0.1 | 0.0
Disposals | 1.4 | 5.9 | 0.6
Depreciation for the year | 1.1 | 1.8 | 2.5
Transfers | 4.4 | 0.0 | 0.0
Balance as of 31 December | $ (1.9) | $ (2.6) | $ (6.8)

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