Categories of financial assets and liabilities (USDm): | Quoted prices (level 1) | Observable input (level 2) | Unobservable input (level 3) | Fair value Total | Amortized cost | Carrying value | |
2017: | |||||||
Loans and receivables | |||||||
Freight receivables | ¹⁾ | - | - | - | - | 71.3 | 71.3 |
Other receivables | - | 7.6 | - | 7.6 | 4.2 | 11.8 | |
Cash and cash equivalents | ¹⁾ | - | - | - | - | 134.2 | 134.2 |
Total | - | 7.6 | - | 7.6 | 209.7 | 217.3 | |
Financial liabilities | |||||||
Mortgage debt and bank loans | ²⁾ | - | - | - | - | 720.9 | 720.9 |
Finance lease liabilities | ¹⁾ | - | - | - | - | 28.2 | 28.2 |
Trade payables | ¹⁾ | - | - | - | - | 26.2 | 26.2 |
Other liabilities | ¹⁾ | - | -0.2 | - | -0.2 | 34.0 | 33.8 |
Total | - | -0.2 | - | -0.2 | 809.3 | 809.1 | |
2016: | |||||||
Loans and receivables | |||||||
Freight receivables | ¹⁾ | - | - | - | - | 62.5 | 62.5 |
Other receivables | - | 3.3 | - | 3.3 | 4.8 | 8.1 | |
Cash and cash equivalents | ¹⁾ | - | - | - | - | 76.0 | 76.0 |
Total | - | 3.3 | - | 3.3 | 143.3 | 146.6 | |
Financial liabilities | |||||||
Mortgage debt and bank loans | ²⁾ | - | - | - | - | 669.6 | 669.6 |
Finance lease liabilities | ¹⁾ | - | - | - | - | 13.6 | 13.6 |
Trade payables | ¹⁾ | - | - | - | - | 28.5 | 28.5 |
Other liabilities | ¹⁾ | - | 4.8 | - | 4.8 | 28.3 | 33.1 |
Total | - | 4.8 | - | 4.8 | 740.0 | 744.8 | |
¹⁾ Due to the short maturity, the carrying value is considered to be an appropriate expression of the fair value. |
²⁾ See note 15. |
· | Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities |
· | Level 2 fair value measurements are those derived from input other than quoted prices included within level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices) |
· | Level 3 fair value measurements are those derived from valuation techniques that include input for the asset or liability that are not based on observable market data (unobservable input) |