DHT Holdings, Inc. Business Update

DHT Holdings (NYSE:DHT) provided a Q1 2026 business update reporting estimated fleet TCE of $78,800 per day based on 1,994 revenue days, including 1,152 spot days.

Rhea-AI Summary

DHT Holdings (NYSE:DHT) provided a Q1 2026 business update reporting estimated fleet TCE of $78,800 per day based on 1,994 revenue days, including 1,152 spot days.

Spot VLCCs averaged $91,700/day (discharge-to-discharge adj. $106,000/day) and time-charter VLCCs averaged $61,300/day. Through early Q2 2026, 49% of available spot days are booked at $189,500/day (discharge-to-discharge) and 71% of total revenue days are booked at $115,400/day.

Positive

• Fleet estimated TCE of $78,800/day for Q1 2026
• Spot VLCC TCE of $91,700/day in Q1 2026
• 49% of Q2 spot days booked at $189,500/day
• 71% of total revenue days booked at $115,400/day

Negative

• Time-charter VLCC TCE only $61,300/day in Q1 2026
• Only 1,152 of 1,994 days were spot days (≈58%)

Argus Apr 15 session

+2.79% close to close Open Argus

Details

News Market Reaction – DHT

On Apr 15, the day this news came out, DHT closed 2.79% above the previous close.

Data tracked by StockTitan Argus for the Apr 15 session.

Key Figures

Q1 2026 TCE fleet: $78,800 per day Q1 2026 spot TCE: $91,700 per day Q1 2026 time-charter TCE: $61,300 per day +5 more

Q1 2026 TCE fleet

$78,800 per day

Estimated time charter equivalent earnings for full fleet, Q1 2026

Q1 2026 spot TCE

$91,700 per day

Estimated TCE for VLCCs in spot market, Q1 2026

Q1 2026 time-charter TCE

$61,300 per day

Estimated TCE for VLCCs on time charter, Q1 2026

Q1 2026 revenue days

1,994 days

Total revenue days in the quarter; 1,152 were spot days

Q1 2026 adj. spot TCE

$106,000 per day

Discharge-to-discharge TCE for spot VLCCs, Q1 2026 (IFRS 15-adjusted)

Q2 spot days booked

49%

Share of available Q2 2026 spot days already booked

Q2 spot TCE booked

$189,500 per day

Average discharge-to-discharge rate on booked Q2 2026 spot days

Q2 revenue days booked

71% at $115,400 per day

Share and average rate of total Q2 2026 revenue days booked

Historical Context

5 past events · Latest: Mar 30

5 events

1. Mar 30

   Fleet modernization update

   24h Move

   -0.9%

   Delivery of DHT Gazelle and sale of older VLCC to new owners.

2. Mar 19

   Annual report filing

   24h Move

   -3.3%

   Filing of 2025 Form 20-F and audited financial statements.

3. Mar 06

   Newbuilding delivery

   24h Move

   +5.0%

   Delivery of DHT Addax VLCC newbuild and spot market deployment.

4. Feb 24

   Board appointment

   24h Move

   -0.1%

   Appointment of Erik Bartnes to the Board effective March 1, 2026.

5. Feb 23

   Time charter secured

   24h Move

   +6.7%

   One-year time charter for DHT Redwood at $105,000 per day.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

time charter equivalent, vlccs, spot market, time charter, +1 more

5 terms

time charter equivalent financial

"the Company estimates time charter equivalent (“TCE”) earnings for its fleet"

Time charter equivalent (TCE) converts the money a ship earns on specific trips into a single daily rate, so different voyages and contract types can be compared on the same scale. Think of it as translating various one-off jobs into a common “daily wage,” which matters to investors because it reveals how much a vessel or fleet is earning per day, helping assess operating profitability, cash flow and valuation across companies and market conditions.

vlccs technical

"for the Company’s VLCCs operating in the spot market and $61,300 per day"

Very Large Crude Carriers (VLCCs) are the biggest ocean tankers used to move crude oil in huge batches—think of them as the freight trains of the sea that carry fuel between regions. Investors watch VLCC supply, demand and freight rates because changes affect shipping company profits, the cost and timing of oil deliveries, and broader energy trade flows, similar to how truck shortages or traffic jams can raise delivery costs and slow goods to market.

spot market financial

"for the Company’s VLCCs operating in the spot market and $61,300 per day"

The spot market is where assets—like stocks, commodities, or currencies—are exchanged for immediate delivery and payment at the current market price. It matters to investors because spot prices reflect real-time supply and demand, guide short-term trading decisions, and serve as the baseline for contracts and valuations; think of it as buying an item at the store right now instead of ordering it for later.

time charter financial

"and $61,300 per day for the Company’s VLCCs on time charter."

A time charter is an agreement where a ship owner rents out their vessel to a customer for a set period, during which the customer has control over the ship’s use and operation. This arrangement matters to investors because it provides a steady income stream for the ship owner and indicates ongoing demand for shipping services, reflecting the health of global trade and transportation markets.

ifrs 15 regulatory

"adjusted for the impact of IFRS 15 Revenue from Contracts with Customers, were $106,000"

IFRS 15 is an international accounting rule that tells companies when and how to record revenue from contracts with customers, covering sales, services, subscriptions and multi-part deals. It matters to investors because it determines the timing and amount of revenue shown in financial reports, affecting profit figures, comparisons between companies, and valuation models — think of it like rules for deciding when to count partial payments for a long project as income.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HAMILTON, BERMUDA, April 15, 2026 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today provided the following business update:

For the first quarter of 2026, the Company estimates time charter equivalent (“TCE”) earnings for its fleet at $78,800 per day, comprising $91,700 per day for the Company’s VLCCs operating in the spot market and $61,300 per day for the Company’s VLCCs on time charter. These estimated TCE earnings are based on 1,994 revenue days during the quarter, of which 1,152 days were spot days.

The estimated TCE earnings on a discharge-to-discharge basis for the Company’s VLCCs operating in the spot market, i.e. adjusted for the impact of IFRS 15 Revenue from Contracts with Customers, were $106,000 per day for the first quarter of 2026.

Thus far in the second quarter of 2026, approximately 49% of the available spot days have been booked at an average rate of $189,500 per day on a discharge-to-discharge basis. In total, 71% of the available revenue days, including both spot and time-charter days, have been booked at an average rate of $115,400 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, 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 19, 2026.

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were DHT's estimated fleet TCE earnings for Q1 2026 (DHT)?

DHT estimated fleet TCE earnings of $78,800 per day for Q1 2026. According to the company, this figure is based on 1,994 revenue days, with 1,152 spot days included in the quarter's calculation.

How did DHT's spot and time-charter VLCC TCEs compare in Q1 2026 (DHT)?

Spot VLCCs averaged $91,700/day, while time-charter VLCCs averaged $61,300/day in Q1 2026. According to the company, the spot discharge-to-discharge adjusted TCE was $106,000/day for the quarter.

What booking progress did DHT report for early Q2 2026 (DHT)?

Through early Q2 2026, DHT has booked about 49% of available spot days at an average of $189,500/day. According to the company, total booked revenue days are 71% at an average of $115,400/day.

What does discharge-to-discharge TCE mean for DHT's Q1 2026 figures (DHT)?

Discharge-to-discharge TCE adjusts earnings to voyage timing; DHT reported a spot discharge-to-discharge TCE of $106,000/day for Q1 2026. According to the company, this reflects IFRS 15 adjustments for spot VLCC voyages.

How many revenue and spot days did DHT use to estimate Q1 2026 TCE (DHT)?

DHT used 1,994 revenue days to estimate Q1 2026 TCE, of which 1,152 were spot days. According to the company, these day counts form the basis for the reported per-day TCE metrics.