This note should be read in conjunction with the Liquidity Risk section. The maturity profile of the Group’s financial liabilities, net-settled derivative financial instruments and gross-settled derivative financial instruments based on the remaining period from the balance sheet date to the contractual maturity date are summarised below. These represented contractual cash flows which include principal and interest elements where applicable.
Within one year | In the second year | In the third to fifth year | After the fifth year | Total | |||||||
US$'000 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | |
Long-term borrowings | |||||||||||
- Secured bank loans | 131,144 | 124,930 | 126,350 | 121,813 | 347,644 | 361,565 | 349,683 | 238,556 | 954,821 | 846,864 | |
- Other secured borrowings | 7,784 | 7,186 | 8,825 | 7,171 | 26,730 | 24,541 | 3,638 | 13,231 | 46,977 | 52,129 | |
- Unsecured convertible bonds | 129,063 | 4,063 | - | 4,063 | - | 133,125 | - | - | 129,063 | 141,251 | |
Derivative financial instruments | |||||||||||
(i) Net-settled (a) | |||||||||||
- Interest rate swap contracts | (544) | 7 | (221) | 117 | 244 | (584) | 41 | 3 | (480) | (457) | |
- Bunker swap contracts | 7,374 | 748 | 354 | 653 | 1,047 | 431 | - | - | 8,775 | 1,832 | |
- Forward freight agreement | - | 24 | - | - | - | - | - | - | - | 24 | |
(ii) Gross-settled (b) | |||||||||||
Forward foreign exchange contracts | |||||||||||
- Cash flow hedges: | |||||||||||
- outflow | 24,839 | 25,114 | 25,093 | 26,003 | 55,768 | 67,646 | - | 13,215 | 105,700 | 131,978 | |
- inflow | (21,238) | (22,431) | (21,671) | (23,277) | (48,487) | (61,009) | - | (12,040) | (91,396) | (118,757) | |
Net outflow | 3,601 | 2,683 | 3,422 | 2,726 | 7,281 | 6,637 | - | 1,175 | 14,304 | 13,221 | |
Current liabilities | |||||||||||
Trade and other payables | 112,830 | 108,825 | - | - | - | - | - | - | 112,830 | 108,825 | |
(a) Net-settled derivative financial instruments represent derivative liabilities whose terms result in settlement by a netting mechanism, such as settling the difference between the contract price and the market price of the financial liabilities. (b) Gross-settled derivative financial instruments represent derivative assets or liabilities which are not settled by the above mentioned netting mechanism. | |||||||||||