122
123
Annual Report 2018
Notes to the consolidated financial statements – continued For the year ended 31 December 2018
Notes to the consolidated financial statements – continued For the year ended 31 December 2018
5. OPERATING SEGMENTS (continued)
6. PROPERTY AND EQUIPMENT (continued)
Furniture and fixtures
Tools and office equipment
Containers yard equipment
b) The following schedule illustrates the distribution of the Group’s assets and liabilities according to the operating segments:
Fleet and equipment
Motor vehicles
Computer equipment
Building and improvements
Containers and trailers
Total
2017
Oil transportation
Dry bulk transportation
Head office and Others
Chemical
Logistic
Total
31 December 2018
Cost At 1 January 2017 Additions/transfers
54,512 19,404,770 29,471 11,968 4,176
4,454 63,699
14,435 19,587,485
Property and equipment
10,967,095 2,785,300 13,333,248 3,341,013
1,315,512 2,153,360
511,856 773,724 448,231
43,385
15,623,148
796
1,875,697 5,364
413
238
-
5,995 (111)
- -
1,888,503
Total assets Total liabilities
1,596,299 21,197,644 1,094,160 11,378,343
Disposals
-
-
(14,596) (8)
(256)
(3,322)
(18,293)
7,049,196 Oil transportation
1,864,888
921,868
At 31 December 2017 55,308 21,280,467 20,239 12,373 4,158
1,132 69,583
14,435 21,457,695
Dry bulk transportation
Head office and Others
Chemical
Logistic
Total
31 December 2017
Accumulated depreciation At 1 January 2017
Property and equipment
9,847,834 2,975,050 1,343,650 533,440
46,562 14,746,536
15,481 5,800,240 29,219 7,743
3,691
1,722 56,638
10,855 5,925,589
Total assets Total liabilities
12,423,200 3,548,304 2,327,355 688,573 2,195,151 21,182,583
Charge for the year
791,790
302
522
394
104
2,036 (111)
1,677
801,567 (15,997)
4,742
6,849,952 2,116,263 947,529
359,611
991,197 11,264,552
Disposals
-
(14,596)
-
(256) 3,829
(1,034)
-
-
At 31 December 2017 Net book value: As at 31 December 2017
20,223 6,592,030 14,925 8,265
792
58,563
12,532 6,711,159
6. PROPERTY AND EQUIPMENT
35,085 14,688,437 5,314 4,108
329
340
11,020
1,903 14,746,536
Furniture and fixtures
Tools and office equipment
Containers yard equipment
Fleet and equipment
Motor vehicles
Computer equipment
Building and improvements
Containers and trailers
Total
2018
*Certain vessels and tankers of the Group under fleet and equipment with a carrying value of SAR 9.3 billion at 31 December 2017, are pledged against the long-term loans.
Cost At 1 January 2018 Additions/transfers
55,308 21,280,467 20,239 12,373 4,158 1,132 69,583 14,435 21,457,695
7. SHIPS UNDER CONSTRUCTION
6,324 1,799,465 -
2,176 58
- -
7,043 (2,117)
- -
1,815,066
Disposals (393,518) At 31 December 2018 61,632 22,698,732 12,375 12,212 4,216 1,132 74,509 14,435 22,879,243 Accumulated depreciation At 1 January 2018 20,223 6,592,030 14,925 8,265 3,829 792 58,563 12,532 6,711,159 Charge for the year 15,809 851,180 469 778 182 215 3,646 525 872,804 Disposals - (315,822) (7,863) (2,066) - - (2,117) - (327,868) At 31 December 2018 36,032 7,127,388 7,531 6,977 4,011 1,007 60,092 13,057 7,256,095 Net book value: As at 31 December 201 25,600 15,571,344 4,844 5,235 205 125 14,417 1,378 15,623,148 - (381,200) (7,864) (2,337) -
The movement in ships under construction is as follows:
2018
2017
Beginning balance
959,390 936,660
1,235,565
Additions
784,955
Transferred to property and equipment
(1,757,286)
(1,061,130)
Ending balance
138,764
959,390
Ships under construction for the year ended 31 December 2018 amounted to SAR 139 million for 4 vessels (31 December 2017: SAR 959 million for 9 vessels). BDB signed contracts on 25 August 2017 with Hyundai Samho Heavy Industries to build four bulk cargo carriers for a total amount of SAR 450 million (USD 120 million). These carriers are expected to be received during the year 2020.
*Certain vessels and tankers of the Group under fleet and equipment with a carrying value of SAR 10.3 billion at 31 December 2018, are pledged against the long-term loans.
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