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Property, plant and equipment | 12 Months Ended
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Dec. 31, 2025
Property, plant and equipment. |
Property, plant and equipment | 8.Property, plant and equipment ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | ​ | ​ ​ ​ | ​ | ​ ​ ​ | Furniture | ​ ​ ​ | ​ | ​ ​ ​ | ​
​ | ​ | ​ | ​ | Dry | ​ | and | ​ | Right-of-use | ​ | ​
​ | ​ ​ ​ | Vessels | ​ ​ ​ | docking | ​ ​ ​ | fixtures | ​ ​ ​ | assets | ​ ​ ​ | Total
​ | ​ | US$’000 | ​ | US$’000 | ​ | US$’000 | ​ | US$’000 | ​ | US$’000
Cost |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
At 1 January 2025 |  | 2,936,835 |  | 63,116 |  | 1,102 |  | 470,514 |  | 3,471,567
Additions |  | 133,050 |  | 49,096 |  | 149 |  | 59,634 |  | 241,929
Modifications |  | — |  | — |  | — |  | 72,361 |  | 72,361
Disposals |  | (74,989) |  | (2,871) |  | — |  | (249,083) |  | (326,943)
Write off on completion of dry docking costs |  | — |  | (17,996) |  | — |  | — |  | (17,996)
At 31 December 2025 |  | 2,994,896 | ​ | 91,345 |  | 1,251 |  | 353,426 |  | 3,440,918
Accumulated depreciation and impairment charge |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At 1 January 2025 |  | 583,545 |  | 34,585 |  | 748 |  | 254,242 |  | 873,120
Depreciation |  | 141,707 |  | 20,767 |  | 70 |  | 93,017 |  | 255,561
Disposals |  | (40,417) |  | (1,915) |  | — |  | (110,575) |  | (152,907)
Write off on completion of dry docking costs |  | — |  | (17,996) |  | — |  | — |  | (17,996)
At 31 December 2025 | ​ | 684,835 | ​ | 35,441 |  | 818 |  | 236,684 |  | 957,778
Net book value |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At 31 December 2025 |  | 2,310,061 |  | 55,904 |  | 433 |  | 116,742 | ​ | 2,483,140
​ ​ 8.Property, plant and equipment (continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | ​ | ​ ​ ​ | ​ | ​ ​ ​ | Furniture | ​ ​ ​ | ​ | ​ ​ ​ | ​
​ | ​ | ​ | ​ | Dry | ​ | and | ​ | Right-of-use | ​ | ​
​ | ​ ​ ​ | Vessels | ​ ​ ​ | docking | ​ ​ ​ | fixtures | ​ ​ ​ | assets | ​ ​ ​ | Total
​ | ​ ​ ​ | US$’000 | ​ ​ ​ | US$’000 | ​ ​ ​ | US$’000 | ​ ​ ​ | US$’000 | ​ ​ ​ | US$’000
Cost |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
At 1 January 2024 |  | 1,932,413 |  | 52,074 |  | 910 |  | 325,883 |  | 2,311,280
Additions |  | 1,049,295 |  | 14,332 |  | 192 |  | 68,177 |  | 1,131,996
Disposals |  | — |  | — |  | — |  | (15,186) |  | (15,186)
Lease remeasurement |  | — |  | — |  | — |  | 91,640 |  | 91,640
Reclassified to assets held-for-sale (note 13) |  | (44,873) |  | (1,725) |  | — |  | — |  | (46,598)
Write off on completion of dry docking costs |  | — |  | (1,565) |  | — |  | — |  | (1,565)
At 31 December 2024 |  | 2,936,835 | ​ | 63,116 |  | 1,102 |  | 470,514 |  | 3,471,567
Accumulated depreciation and impairment charge |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At 1 January 2024 |  | 503,740 |  | 23,661 |  | 633 |  | 174,099 |  | 702,133
Depreciation |  | 91,924 |  | 13,970 |  | 115 |  | 95,329 |  | 201,338
Disposals |  | — |  | — |  | — |  | (15,186) |  | (15,186)
Reclassified to assets held-for-sale (note 13) |  | (12,119) |  | (1,481) |  | — |  | — |  | (13,600)
Write off on completion of dry docking costs |  | — |  | (1,565) |  | — |  | — |  | (1,565)
At 31 December 2024 | ​ | 583,545 | ​ | 34,585 |  | 748 |  | 254,242 |  | 873,120
Net book value |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At 31 December 2024 |  | 2,353,290 |  | 28,531 |  | 354 |  | 216,272 | ​ | 2,598,447
​
(a) | Vessels with an aggregate carrying amount of US$1,423 million as at 31 December 2025 (2024: US$1,091 million) are pledged as security on borrowings (note 17).
(b) | In 2024, the Group acquired 12 vessels for aggregate consideration of US$1,050 million which comprised US$588.3 million cash payment, net of US$129.1 million amount of borrowings novated from the seller, and US$332.6 million settled via the issuance of the Company’s equity shares to the seller.

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