As at 31 December 2014, the Group had delivered vessels with a net book value of US$1,528 million as follows:
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Precise vessel market values are difficult to determine when buying interest is limited in uncertain shipping markets. Latest estimated fair market values published by Clarksons are US$14.5 million and US$17.5 million for 5-year old 32,000 dwt Handysize and 56,000 dwt Handymax vessels respectively.
Tugs and barges are denominated in their functional currency of the Australian Dollar, and hence their US Dollar carrying values and commitments are subject to exchange rate fluctuations.