Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that carry a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next year are listed below with references to the locations of these items in the notes to the financial statements.
| Critical Accounting Estimates and Judgements | Location |
| (a) Residual values of property, plant and equipment | Note 6 |
| (b) Useful lives of vessels and vessel component costs | Note 6 |
| (c) Impairment of vessels and vessels under construction | Note 6 |
| (d) Impairment of goodwill | Note 7 |
| (e) Provision for onerous contracts | Note 16 |
| (f) Income taxes | Note 22 |
| (g) Classification of leases | Note 26(b) |