Table:
|  | As of December 31, |  |
| --- | --- | --- |
|  | 2018 | 2019 |
| Current accounts | 220,089 | 113,655 |
| Time deposits (with original maturities of three months or less). | 121,925 | 149,491 |
| Ship management client accounts | 580 | 601 |
| Total | 342,594 | 263,747 |
Paragraphs:
GasLog Ltd. and its Subsidiaries
Notes to the consolidated financial statements (Continued)
For the years ended December 31, 2017, 2018 and 2019
(All amounts expressed in thousands of U.S. Dollars, except share and per share data)
8. Cash and Cash Equivalents
Cash and cash equivalents consist of the following:
Ship management client accounts represent amounts provided by the clients of GasLog LNG Services Ltd. in order to enable the Group to cover obligations of vessels under management. A compensating balance is held as a current liability.
Question:
What does ship management client accounts represent?
Answer: Ship management client accounts represent amounts provided by the clients of GasLog LNG Services Ltd. in order to enable the Group to cover obligations of vessels under management.