Liquidity indicators

The Group has a strong liquidity cushion, which represents a significant positive factor for maintaining the company’s creditworthiness and financial stability. Сash balances in bank accounts and their equivalents totalled US$374.8 million at the end of 2019, which is in line with the company’s cash management policy. The Group also had unused revolving credit facilities of US$84.9 million and available special-purpose credit facilities for new builds of US$349.5 million. Thus, the company’s current liquidity as at 31 December 2019 totalled US$809.2 million. The company’s liquidity at the end of 2019 fully covers the current investment commitments under the existing shipbuilding programme for 2020 amounting to US$365 million.