Grieg Star Annual Report 2014 Final.pdf

Note 4
Fixed assets
PARENT COMPANY
Figures in NOK 1 000
Cabin
Cars
Office machines,
furnitures, etc
Total
Acquisition costs at 01.01 4 462 1 338 1 361 7 161
Additions - - 532 532
Disposals - - - -
Acquisition cost at 31.12 4 462 1 338 1 893 7 693
Accumulated depreciation at 31.12 - 453 1 022 1 475
Book value at 31.12 4 462 885 871 6 218
Depreciation 356 629 985
Depreciation plan None Straight-line Straight-line
Depreciation period 5 years 3 years
GROUP
Figures in USD 1 000 Vessels Docking New buildings Total
Acquisition cost at 01.01 1 342 990 38 099 42 004 1 423 092
Additions* 18 942 12 901 16 019 47 862
Transferred from new buildings 49 211 600 -49 811 -
Disposals 65 780 7 742 - 73 521
Acquisition cost at 31.12 1 345 363 43 858 8 212 1 397 433
Accumulated depreciation at 31.12 432 537 19 790 - 452 328
Accumulated write-downs 8 600 - - 8 600
Book value at 31.12 904 226 24 066 8 212 936 503
Depreciation charge for the year 38 893 7 116 46 010
Depreciation plan Straight-line Straight-line None
Depreciation period 25-30 years 5-7.5 years
*) Capitalised interest related to newbuildings in 2014 were USD 2.9m. (USD 3.2m in 2013)
In 2014, the Group took delivery of one new vessel, Star Lysefjord. The expected economic lifetime of the vessel is at least 30 years. The
vessel is depreciated down to estimated scrap value over 30 years. In addition Star Lygra was sold and leased back for 12 years.
As of 31.12.2014 the Group has new building contracts for 4 vessels. The four supramax's are to be delivered in 2015 and 2016. The remaining
amount to be paid for the new building contracts amounts to USD 77.3 m.
2014
GRIEG STAR
ANNUAL REPORT
16