DHT Holdings, Inc. Business Update

Rhea-AI Summary

HAMILTON, BERMUDA, April 13, 2023 – DHT Holdings reports first quarter 2023 time charter equivalent earnings of $49,100 per day, with VLCCs on time-charter earning $35,000 per day and those in the spot market earning $54,600 per day. For the second quarter of 2023, 35% of available VLCC spot days are booked at an average rate of $75,500 per day. Overall, 55% of available VLCC days, including both spot and time-charter, are booked at an average rate of $52,200 per day. DHT Holdings operates internationally within the VLCC segment and maintains a strong focus on operations, customer service, and capital structure. The company emphasizes transparency and good governance as part of its strategy.

Positive

• Time charter equivalent earnings for Q1 2023 at $49,100 per day.
• VLCCs in the spot market achieving $54,600 per day.
• 35% of available VLCC spot days booked for Q2 at an average of $75,500 per day.
• 55% of all VLCC days booked at an average rate of $52,200 per day.

Negative

• None.

 HAMILTON, BERMUDA, April 13, 2023 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today provides the following business update:

• For the first quarter of 2023, the Company estimates time charter equivalent earnings for its fleet at $49,100 per day, comprising of $35,000 per day for the Company’s VLCCs on time-charter and $54,600 per day for the Company’s VLCCs operating in the spot market.
  
  
• Thus far in the second quarter of 2023, 35% of the available VLCC spot days have been booked at an average rate of $75,500 per day on a discharge-to-discharge basis. 55% of the available VLCC days, spot and time-charter days combined, have been booked at an average rate of $52,200 per day.
  
  

About DHT Holdings, Inc.
DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Norway and Singapore. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our combination of market exposure and fixed income contracts for our fleet; our counter cyclical philosophy with respect to investments, employment of our fleet, and capital allocation; and our transparent corporate structure maintaining a high level of integrity and good governance. For further information please visit www.dhtankers.com.

Forward Looking Statements
This press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company’s management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as “believe,” “intend,” “anticipate,” “estimate,” “project,” “forecast,” “plan,” “potential,” “will,” “may,” “should” and “expect” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company’s current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company’s estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company’s Annual Report on Form 20-F, filed with the SEC on March 23, 2023.

The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company’s actual results could differ materially from those anticipated in these forward-looking statements.

Contact:
Laila C. Halvorsen, CFO
Phone: +1 441 295 1422 and +47 984 39 935
E-mail: lch@dhtankers.com

 

 

 

FAQ

What are the estimated time charter equivalent earnings for DHT in Q1 2023?

DHT estimates time charter equivalent earnings for Q1 2023 at $49,100 per day.

What rates did DHT's VLCCs achieve in the spot market for Q1 2023?

DHT's VLCCs operating in the spot market earned an average of $54,600 per day.

How much of DHT's available VLCC spot days have been booked for Q2 2023?

35% of available VLCC spot days have been booked for Q2 2023 at an average rate of $75,500 per day.

What is the average rate for DHT's combined VLCC days booked in Q2 2023?

55% of available VLCC days have been booked at an average rate of $52,200 per day.