Tools

17 Trade and Other Payables

US$'000 2016 2015
Non-current payables
Receipts in advance 5,856 -
Current payables    
Trade payables 51,569 30,566
Accruals and other payables 51,236 56,361
Receipts in advance 37,820 30,437
140,625 117,364
At 31 December 2016, the ageing of trade payables based
on due date is as follows:
US$'000 2016 2015
< 30 days 45,327 25,338
31-60 days 670 372
61-90 days 402 833
> 90 days 5,170 4,023
51,569 30,566

The carrying values of trade and other payables approximate their fair values due to the short-term maturities of these liabilities.

Trade and other payables are mainly denominated in United States Dollars.

Accounting policy – Trade payables

Trade payables mainly represent freight and charterhire payables which are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Top

My Annual Report

Your page has been added successfully.