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DHT Holdings, Inc. (NYSE:DHT) is a prominent independent crude oil tanker company. Established in 2005 and listed on the New York Stock Exchange, DHT initially acquired a fleet of seven crude oil tankers, including three Very Large Crude Carriers (VLCCs) and four Aframaxes, under long-term time charters. Over the years, DHT expanded its fleet with the addition of two Suezmax tankers and transitioned into its current structure, becoming a publicly held parent company based in the Marshall Islands in 2010.
Fleet and Operations
DHT's fleet, which predominantly comprises VLCCs with capacities ranging from 270,000 to 320,000 deadweight tons, operates globally. The company generates revenue through both time charter and spot market operations. DHT's commitment to quality is reflected in its high-standard ships, experienced management, and robust operational practices.
Geographical Footprint
DHT operates through integrated management entities spread across Monaco, Norway, Singapore, and India. This international presence ensures efficient and effective fleet management and customer service, adhering to the highest standards of integrity and good governance.
Financial Performance and Strategy
In recent updates, DHT has provided significant financial insights, including achieving improved cash break-even levels for its fleet and maintaining a prudent capital structure. The company’s strategy focuses on a combination of market exposure and fixed income contracts, ensuring stability and growth even through volatile market cycles. DHT is committed to paying 100% of ordinary net income as quarterly dividends to its shareholders, demonstrating a strong commitment to shareholder value.
Recent Developments
Recent business updates indicate a constructive market outlook, driven by increasing oil demand and longer transportation distances. This positive market trend supports DHT's strategic initiatives and investments aimed at maximizing fleet utilization and revenue generation.
DHT Holdings continues to prioritize high governance standards, transparent corporate structure, and strategic capital allocation, making it a significant player in the crude oil tanker industry.
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.
DHT Holdings, Inc. (NYSE:DHT) has filed its 2022 annual report on Form 20-F with the SEC on March 23, 2023. The report is accessible on the company's website and shareholders can request a free hard copy of the audited financial statements via email.
DHT is a leading independent crude oil tanker company, operating a fleet of VLCC tankers globally. The company focuses on delivering quality operations and maintaining a strong capital structure. Investors are advised to review the detailed risk factors in the annual report, as forward-looking statements within the PR may not guarantee future results.
DHT Holdings, Inc. reported its financial results for Q4 2022, highlighting the operational performance of its crude oil tanker fleet. Although specific figures were not disclosed in the summary, the company remains committed to prudent capital allocation and maintaining operational integrity. The press release emphasized DHT's focus on the VLCC segment and its international trading capabilities. DHT is known for its counter-cyclical investment philosophy and transparent governance. Stakeholders are advised to refer to the detailed financial report linked within the announcement.
DHT Holdings (NYSE: DHT) will announce its fourth quarter 2022 results following market close on February 8, 2023. A conference call and webcast will take place on February 9, 2023, at 8:00 a.m. EST, to discuss these results. Participants must register in advance to join the call, receiving dial-in numbers and a personal PIN. Following the event, a recording will be available until February 16, 2023, at 19:00 CET. DHT is an independent crude oil tanker company operating in the VLCC segment with a focus on quality operations and prudent capital structure.
HAMILTON, BERMUDA, January 9, 2023 – DHT Holdings, Inc. (NYSE:DHT) reported an estimated fourth quarter 2022 time charter equivalent earnings of $56,900 per day for its fleet. This includes $36,100 per day for VLCCs on time-charter and $63,800 for VLCCs in the spot market. In the first quarter of 2023, 37% of available VLCC spot days have been booked at an average rate of $70,000 per day, while 53% of total VLCC days have been booked at $52,000 per day. The company continues to focus on operational excellence and maintaining a robust financial structure.
DHT Holdings, Inc. (NYSE:DHT) has announced a new $305 million secured credit facility aimed at refinancing its current ABN Amro credit facility. The facility features a six-year term and a 20-year repayment profile with an interest rate of Secured Overnight Financing Rate (SOFR) plus 1.90%. This represents a significant decrease in borrowing costs compared to previous rates. The financing was oversubscribed and secured by 10 of DHT's VLCCs. This strategic move aligns with DHT's commitment to maintaining a strong capital structure and operational integrity in the crude oil tanker market.
DHT Holdings reported its quarterly results for September 30, 2022. The company emphasizes a robust operational approach with a fleet of VLCC crude oil tankers. DHT operates globally with management bases in Monaco, Norway, and Singapore. The report includes forward-looking statements regarding dividends, charter rates, and market conditions while advising caution due to inherent uncertainties. The full report is accessible through the company's official site.
DHT Holdings will announce its Q3 2022 results after market close on November 7, 2022. A conference call will be held on November 8, 2022, at 8:00 a.m. EST to discuss these results, including a slide presentation. Participants must register in advance to access the call and will receive unique PINs for joining. A recording will be available until November 15, 2022. DHT, an independent crude oil tanker company, operates a fleet of VLCC tankers, emphasizing operational quality and strong governance.
DHT Holdings, Inc. (NYSE:DHT) announced a new dividend policy on September 8, 2022, committing to return 100% of net income to shareholders through quarterly cash dividends starting in Q3 2022. This decision is supported by a strong balance sheet and liquidity position, alongside no significant planned capital expenditures. CEO Svein Moxnes Harfjeld emphasized a constructive market outlook as a driving factor behind this approach, signaling confidence in the company's financial stability.
DHT Holdings (NYSE: DHT) announced the sale of its VLCC, the DHT Edelweiss, for $37 million. This sale will reduce the fleet's average age and improve operational efficiency metrics. With outstanding bank debt of approximately $12.2 million being repaid, the company expects to record a gain of around $6.8 million in Q3 2022. The vessel is not equipped with an Exhaust Gas Cleaning System and is scheduled for a retrofit program, ensuring that 100% of the fleet will have these systems by Q1 2023.
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