DHT Holdings, Inc. announces agreement to acquire a 2018 built VLCC

Rhea-AI Summary

DHT Holdings announced the acquisition of a 2018-built Very Large Crude Carrier (VLCC) for $107 million, with delivery expected by the end of Q3 2025. The vessel, built at Hyundai Heavy Industries, features an exhaust gas cleaning system and will be financed through available liquidity and projected mortgage debt. The acquisition aims to improve DHT's fleet age profile and efficiency metrics. The VLCC is a sister ship to DHT's 2018-built vessels, offering large carrying capacity and premium earning capabilities. This strategic move replaces earnings capacity from recent fleet divestitures and positions DHT to capitalize on attractive market prospects.

Positive

• Strategic acquisition of a modern 2018-built VLCC with exhaust gas cleaning system
• Vessel acquisition will improve fleet age profile and efficiency metrics
• Sister ship to existing fleet vessels, ensuring operational familiarity and efficiency
• Replaces earnings capacity from recent divestitures in an attractive market

Negative

• Significant capital expenditure of $107 million required for the acquisition
• Additional debt burden through projected mortgage financing

HAMILTON, BERMUDA, June 19, 2025 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announces that it has entered into an agreement to acquire a VLCC built in 2018 at Hyundai Heavy Industries (HHI), for $107 million. The vessel is scheduled to deliver towards the end of the third quarter of 2025. The acquisition will be financed through the Company’s available liquidity and projected mortgage debt. The vessel was built to a high specification by its current owner and is fitted with an exhaust gas cleaning system. The acquisition will improve DHT’s age profile and will further improve the DHT fleet’s efficiency metrics. 

DHT’s President & CEO, Svein Moxnes Harfjeld, comments: “We are always looking for opportunities with the intent of improving earnings per share for our shareholders. This is a sister of vessels built by us in 2018, a design with large carrying capacity and premium earning capabilities, well suited for the trading patterns of our key customers. We believe this to be a fitting addition to our fleet, replacing some of the earnings capacity that has been divested this year, delivering into a market with attractive prospects.” 

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 wholly owned management companies in Monaco, Norway, Singapore, and India. 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 fleet employment with a combination of market exposure and fixed income contracts; our disciplined capital allocation strategy through cash dividends, investments in vessels, debt prepayments and share buybacks; and our transparent corporate structure maintaining a high level of integrity and corporate 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 20, 2025.

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

How much is DHT Holdings paying for the 2018-built VLCC?

DHT Holdings is paying $107 million for the 2018-built VLCC.

When will DHT Holdings take delivery of the new VLCC?

The vessel is scheduled for delivery towards the end of the third quarter of 2025.

How will DHT Holdings finance the VLCC acquisition?

The acquisition will be financed through the company's available liquidity and projected mortgage debt.

What special features does the acquired VLCC have?

The vessel is fitted with an exhaust gas cleaning system and was built to high specifications at Hyundai Heavy Industries.

Why is DHT Holdings acquiring this specific VLCC?

The acquisition aims to improve fleet age profile, enhance efficiency metrics, and replace earnings capacity from recent divestitures while capitalizing on attractive market prospects.