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Property, plant and equipment

12 Months Ended

Dec. 31, 2025

Property, plant and equipment.

Property, plant and equipment

8.Property, plant and equipment

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​	​	​	​	​	​	​	​	​	​	​
​	​ ​ ​	​	​ ​ ​	​	​ ​ ​	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)

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​	​	​	​	​	​	​	​	​	​	​
​	​ ​ ​	​	​ ​ ​	​	​ ​ ​	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

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(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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The entire disclosure for property, plant and equipment.

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