DHT Holdings, Inc. Business Update

Rhea-AI Summary

DHT (NYSE:DHT) provided a business update for Q3 2025 and early Q4 2025.

Estimated Q3 2025 time charter equivalent (TCE) for the fleet was $40,500/day, comprising $38,700/day for VLCCs in the spot market and $42,800/day for VLCCs on time charter, based on 1,951 revenue days (including 1,068 spot days). Through early Q4 2025, 56% of available spot days were booked at an average $64,400/day (discharge-to-discharge), and 76% of total revenue days were booked at an average $50,600/day.

In September 2025 DHT secured a $64 million reducing revolving credit facility with Nordea to finance the previously announced acquisition; the vessel DHT Nokota (built 2018) is expected to deliver in Q4 2025. The facility carries interest at SOFR + 1.50% and matures in September 2032.

Positive

• Q3 fleet TCE of $40,500 per day
• 76% of Q4 revenue days booked at $50,600/day
• $64 million secured revolving credit facility with Nordea
• DHT Nokota (built 2018) expected to join fleet in Q4 2025

Negative

• Spot VLCC TCE of $38,700/day below time-charter TCE
• Only 56% of available Q4 spot days booked so far

HAMILTON, BERMUDA, October 14, 2025 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today provides the following business update:

For the third quarter of 2025, the Company estimates time charter equivalent earnings for its fleet at $40,500 per day, comprising of $38,700 per day for the Company’s VLCCs operating in the spot market and $42,800 per day for the Company’s VLCCs on time charter. The estimated time charter equivalent earnings are based on 1,951 revenue days for the third quarter, of which 1,068 days are spot days.

Thus far in the fourth quarter of 2025, 56% of the available spot days have been booked at an average rate of $64,400 per day on a discharge-to-discharge basis. 76% of the available revenue days, spot and time-charter days combined, have been booked at an average rate of $50,600 per day.

In September 2025, the Company entered into a secured credit agreement with Nordea Bank Abp for a $64 million reducing revolving credit facility to finance the acquisition announced in June. The vessel, to be named DHT Nokota, built in 2018, is expected to be delivered into DHT’s fleet during the fourth quarter. The facility bears interest at a rate equal to SOFR plus a margin of 1.50%, has a final maturity in September 2032, and follows the Company’s established approach to financing.

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 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

What were DHT (NYSE:DHT) estimated fleet TCEs for Q3 2025?

Estimated fleet TCE for Q3 2025 was $40,500/day (spot VLCCs $38,700/day, time-charter VLCCs $42,800/day).

How many revenue and spot days underlie DHT's Q3 2025 TCE estimate?

The Q3 TCE estimate is based on 1,951 revenue days, including 1,068 spot days.

What booking coverage did DHT report for early Q4 2025 and at what rates?

Through early Q4 2025, 56% of spot days were booked at $64,400/day, and 76% of total revenue days were booked at $50,600/day.

What financing did DHT secure in September 2025 to fund its acquisition?

DHT entered a secured reducing revolving credit facility of $64 million with Nordea Bank Abp to finance the acquisition.

When will the acquired vessel DHT Nokota join DHT's fleet?

The vessel DHT Nokota (built 2018) is expected to be delivered into the fleet during Q4 2025.

What are the key commercial terms of DHT's Nordea credit facility?

The facility bears interest at SOFR + 1.50%, is a reducing revolving facility of $64 million, and matures in September 2032.