DHT Holdings, Inc. announces sale of the DHT Scandinavia
Rhea-AI Summary
DHT Holdings announced the sale of its 2006-built VLCC vessel, DHT Scandinavia, for $43.4 million. The delivery to the new owner is expected in January 2025. The vessel has no outstanding bank debt, and the proceeds will be used for general corporate purposes, including vessel investments, share buy-backs, or debt prepayment. The transaction will benefit the company by reducing the fleet's average age and improving its AER, EEOI, and CII metrics.
Positive
- Sale price of $43.4 million for an aging vessel
- No outstanding debt on the vessel
- Improvement in fleet age profile and environmental metrics
- Flexible use of proceeds including potential shareholder returns through buybacks
Negative
- Reduction in fleet capacity
News Market Reaction
On the day this news was published, DHT gained 2.13%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HAMILTON, BERMUDA, December 12, 2024 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) has entered into agreement to sell the DHT Scandinavia, a 2006 built VLCC, for
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, 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 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 20, 2024.
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 selling the DHT Scandinavia vessel for?
When will DHT Holdings deliver the DHT Scandinavia to its new owner?
What will DHT do with the proceeds from the DHT Scandinavia sale?
How will the sale of DHT Scandinavia affect DHT's fleet metrics?
What is the build year of the DHT Scandinavia VLCC vessel?
