STOCK TITAN
  1. Home
  2. SEC Filings
  3. DHT
  4. [6-K] DHT Holdings, Inc. Current Report (Foreign Issuer)

DHT Holdings Q3 2026 profit climbs to $271M

Q3 operating cash flow was $171.4 million; the $1.45-per-share dividend is payable November 30, 2026.

Available on EDGAR Accepted by SEC EDGAR
Filing Impact
(Moderate)
Filing Sentiment

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment worksHow the balance works

Form Type
6-K

Rhea-AI Filing Summary

DHT Holdings, Inc. reported Q3 2026 shipping revenue of $332.1 million and profit after tax of $270.9 million, compared with $107.2 million and $44.8 million, respectively, in Q3 2025. Adjusted EBITDA was $269.5 million and basic and diluted earnings per share were both $1.68. For the first nine months of 2026, profit after tax was $633.7 million, versus $144.9 million a year earlier. Operating cash flow was $171.4 million, versus $60.9 million.

DHT recorded Q3 VLCC spot rates of $167,100 per day and time-charter rates of $114,200 per day. As of September 30, 2026, it had 23 VLCCs in operation and one under construction; four newbuildings were delivered during 2026. A VLCC covered by a June agreement with Hanwha is scheduled for delivery in August 2028, and a further VLCC covered by a November agreement is scheduled for delivery in April 2029.

Cash was $154.7 million and interest-bearing debt was $498.7 million as of September 30, 2026; DHT reported compliance with its financial covenants. It declared a Q3 cash dividend of $1.45 per common share, payable November 30, 2026, to holders of record November 23. Five customers accounted for 52% of Q3 shipping revenue.

4 points · 0 major

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 0 points

How the balance works

Positive

  • Moderate pointQ3 shipping revenue: $332.1 million, versus $107.2 million.
  • Moderate pointQ3 profit after tax: $270.9 million, versus $44.8 million.
  • Moderate pointOperating cash flow: $171.4 million, versus $60.9 million.
  • Moderate pointQ3 dividend: $1.45 per share, versus $1.22 in Q2.

Negative

  • None.

Filing Explained

The fourth-quarter outlook has 630 spot days booked so far out of 930 total spot days; the post-quarter facility prepayments remain available to reborrow.

DHT reports that in Q4 2026 it prepaid $59.1 million under the DHT Nokota facility and $26.5 million under the DHT Jaguar facility; both remain uncancelled, and the prepaid amounts remain available for re-borrowing, reducing amounts outstanding without eliminating access to that borrowing capacity.

DHT’s Q4 outlook estimates 1,174 total term time-charter days at $100,200 per day and 930 spot days, with 630 spot days booked to date at a stated average rate of $579,900 per day.

Shipping revenue $332.1 million Q3 2026
Profit after tax $270.9 million Q3 2026
Adjusted EBITDA $269.5 million Q3 2026
Basic earnings per share $1.68 Q3 2026
Net cash provided by operating activities $171.4 million Q3 2026
Cash dividend per common share $1.45 Q3 2026 dividend
Cash and cash equivalents $154.7 million As of September 30, 2026
Interest-bearing debt $498.7 million As of September 30, 2026
Adjusted EBITDA financial
"Adjusted EBITDA"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
VLCC technical
"23 VLCCs in operation"
A VLCC is a very large crude carrier — one of the biggest types of oil tankers used to move crude oil across oceans. Think of it as a giant delivery truck on water that carries millions of gallons of raw oil between producing regions and refineries; changes in how many VLCCs are available or how much it costs to operate them can affect shipping rates, oil supply flows and margins, and therefore the revenues and valuations of energy and shipping companies.
SOFR financial
"SOFR plus a weighted average margin of 1.32%"
The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.
Value adjusted tangible net worth financial
"Value adjusted tangible net worth"
IFRS 15 financial
"recognized in accordance with IFRS 15"
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.

FAQ

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

How much profit did DHT report for Q3 2026?
DHT reported Q3 2026 profit after tax of $270.9 million, compared with $44.8 million in Q3 2025. Basic and diluted earnings per share were both $1.68, versus $0.28 a year earlier.

What was DHT's Q3 2026 revenue?
DHT reported Q3 2026 shipping revenue of $332.1 million, compared with $107.2 million in Q3 2025. The company attributed $219.3 million of the increase to higher revenue per day and $5.7 million to an increase in total revenue days.

When will DHT pay its Q3 2026 dividend?
DHT declared a cash dividend of $1.45 per common share, payable November 30, 2026, to shareholders of record as of November 23, 2026.

How much of DHT's Q3 2026 shipping revenue came from five customers?
Five customers represented $173.0 million, or 52%, of DHT's Q3 2026 shipping revenue of $332.1 million.

What new VLCC deliveries has DHT scheduled?
DHT's June 2026 construction agreement with Hanwha covers a VLCC scheduled for delivery in August 2028. A further agreement with Hanwha in November 2026 covers a sister vessel scheduled for delivery in April 2029.

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

Form 6-K: How Foreign Companies Report to the SEC →
See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


Form 6-K


Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For the month of November 2026
Commission File Number 001-32640


DHT HOLDINGS, INC.
(Exact name of Registrant as specified in its charter)


Richmond House
12 Par-la-Ville Road, Hamilton HM 08
Bermuda
(Address of principal executive offices)


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☑ Form 40-F ☐

Press Releases

The press release issued by DHT Holdings, Inc. (the “Company”) on November 9, 2026 related to its results for the third quarter of 2026 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Incorporation by Reference

Exhibit 99.1 to this Report on Form 6-K shall be incorporated by reference into the Company’s registration statement on Form F-3 (file No. 333-294448), initially filed with the Securities and Exchange Commission on March 19, 2026, as amended, to the extent not superseded by information subsequently filed or furnished (to the extent the Company expressly states that it incorporates such furnished information by reference) by the Company under the Securities Act of 1933 or the Securities Exchange Act of 1934, in each case as amended.

EXHIBIT LIST

Exhibit
  
Description
     
99.1
  
Press Release dated November 9, 2026
     
101.INS
  
Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)
     
101.SCH
  
Inline XBRL Taxonomy Extension Schema Document
     
101.CAL
  
Inline XBRL Taxonomy Extension Calculation Linkbase Document
     
101.DEF
  
Inline XBRL Taxonomy Extension Definition Linkbase Document
     
101.LAB
  
Inline XBRL Taxonomy Extension Label Linkbase Document
     
101.PRE
  
Inline XBRL Taxonomy Extension Presentation Linkbase Document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

   
DHT Holdings, Inc.
   
(Registrant)
     
Date: November 9, 2026
By:
/s/ Laila C. Halvorsen
   
Name:
Laila C. Halvorsen
   
Title:
Chief Financial Officer


Exhibit 99.1

graphic

DHT Holdings, Inc. Third Quarter 2026 Results

HAMILTON, BERMUDA, November 9, 2026 – DHT Holdings, Inc. (NYSE: DHT) (“DHT” or the “Company”) today announced:
 
FINANCIAL HIGHLIGHTS:

 
USD mill. (except per share)
Q3 2026
  
Q2 2026
  
Q1 2026
  
Q4 2025
  
Q3 2025
  
2025
  
2024
  
 
Shipping revenues
332.1
  
284.8
  
186.3
  
143.9
  
107.2
  
497.2
  
567.8
  
 
Adjusted net revenues1
290.3
  
255.0
  
157.2
  
117.8
  
79.1
  
369.1
  
388.2
  
 
Adjusted EBITDA2
269.5
  
231.0
  
133.3
  
95.3
  
57.7
  
278.4
  
294.6
  
 
Profit after tax
270.9
  
198.3
  
164.5
  
66.1
  
44.8
  
211.0
  
181.5
  
 
EPS – basic
1.68
  
1.23
  
1.02
  
0.41
  
0.28
  
1.31
  
1.12
  
 
EPS – diluted
1.68
  
1.23
  
1.02
  
0.41
  
0.28
  
1.31
  
1.12
  
 
Dividend3
1.45
  
1.22
  
0.64
  
0.41
  
0.18
  
0.98
  
0.95
  
 
Interest bearing debt
498.7
  
434.8
  
505.3
  
428.7
  
268.5
  
428.7
  
409.4
  
 
Cash and cash equivalents
154.7
  
161.7
  
126.2
  
79.0
  
81.2
  
79.0
  
78.1
  
 
Net debt
344.0
  
273.1
  
379.1
  
349.7
  
187.3
  
349.7
  
331.3
  

The third quarter of 2026 was another exceptionally strong quarter for the Company, with profit after tax amounting to $270.9 million, reflecting continued robust tanker market conditions and strong commercial performance. Profit after tax for the first nine months of 2026 reached $633.7 million, further extending the Company’s record earnings and underscoring the strength of the market environment and the Company’s operating platform.

QUARTERLY HIGHLIGHTS:

•
In the third quarter of 2026, the Company achieved average combined time charter equivalent earnings of $141,300 per day, comprised of $167,100 per day for the Company’s VLCCs operating in the spot market and $114,200 per day for the Company’s VLCCs on time charter.

•
Adjusted EBITDA for the third quarter of 2026 was $269.5 million. Net profit for the quarter was $270.9 million, equating to $1.68 per basic share. After adjusting for the $34.2 million gain on sale of DHT Bauhinia and the non-cash fair value gain related to interest rate derivatives of $2.2 million, the Company had ordinary net income for the quarter of $234.5 million, equating to $1.45 per basic share.

•
In the third quarter, the Company entered into 3-year time charter agreements for the VLCCs DHT Jaguar, built in 2015, and DHT Panther, built in 2016. The vessels were fixed at rates of $75,000 per day and $100,000 per day, respectively, under contracts concluded with global energy companies. The charter for DHT Jaguar commenced in September 2026, while the charter for DHT Panther commenced in October 2026.

•
On July 20, 2026, DHT Bauhinia, built in 2007, was delivered to its new owner. The vessel was debt free, and the transaction generated net cash proceeds of $51.0 million. In connection with the sale, the Company recognized a gain of $34.2 million in the third quarter of 2026.

1
•
On July 24, 2026, the Company took delivery of DHT Impala, a VLCC newbuilding from Hyundai Samho Heavy Industries. The vessel entered into the spot market and represented the fourth and final vessel in a series of newbuildings delivered in 2026.

•
For the third quarter of 2026, the Company declared a cash dividend of $1.45 per share of outstanding common stock, payable on November 30, 2026, to shareholders of record as of November 23, 2026. This marks the 67th consecutive quarterly cash dividend and is in line with the Company’s capital allocation policy to pay out 100% of ordinary net income. The shares will trade ex-dividend from November 23, 2026.
 
OPERATIONAL HIGHLIGHTS:

   
Q3 2026
  
Q2 2026
  
Q1 2026
  
Q4 2025
  
Q3 2025
  
2025
  
2024
  
 
Operating days4
2,112.3
  
2,093.0
  
2,034.5
  
1,979.6
  
1,961.2
  
8,055.1
  
8,784.0
  
 
Scheduled off hire days
52.3
  
75.3
  
25.0
  
23.3
  
-
  
47.3
  
93.1
  
 
Unscheduled off hire5
0.0%
  
0.3%
  
0.1%
  
0.0%
  
0.2%
  
0.1%
  
1.1%
  
 
Revenue days6
2,054.8
  
2,012.3
  
1,994.1
  
1,955.5
  
1,951.2
  
7,987.0
  
8,594.9
  
 
Spot exposure5
51.2%
  
48.4%
  
57.3%
  
53.5%
  
54.9%
  
59.9 %
  
76.4 %
  
 
VLCC time charter rate per day
$
114,200  
$
90,800  
$
61,300  
$
49,400  
$
42,800  
$44,600
  
$38,900
  
 
VLCC spot rate per day
$
167,100  
$
162,600  
$
91,700  
$
69,500  
$
38,700  
$47,300
  
$47,200
  

■
The freight market remains strong due to ongoing logistical disruptions resulting in operational inefficiencies, in combination with shifting crude procurement patterns expanding transportation distances.
■
Geopolitical risks persist because recent events demonstrated for the first time in history that a full or partial closure of the Strait of Hormuz is possible, altering long-term risk perceptions even if regular traffic resumes.
■
Supply chain resilience is a priority for Middle Eastern oil producers, but expanding their logistical capabilities will not automatically restore the tanker fleet's historical productivity levels.
■
Energy security concerns should drive a major inventory restocking cycle by governments and corporations, which is expected to boost transportation demand above actual consumption levels.
■
Private consolidation is tightening market dynamics following a structural fleet consolidation by a private aggregator earlier in the year, resulting in fragmented spot supply and restricted information flows.
■
Limited effective fleet supply growth due to an aging fleet, a growing share of vessels operating outside mainstream trades, and a limited near-term newbuilding delivery schedule.
■
News flows and US midterm election results move commodity and capital markets, and fuels volatility, including significant deltas between physical and derivative markets for freight as well as creating large bid-ask spreads in term contracts. 

As of September 30, 2026, DHT had a fleet of 23 VLCCs in operation, with a total dwt of 7,183,236. For more details on the fleet, please refer to the web site: https://www.dhtankers.com/fleetlist/.

SUBSEQUENT EVENTS HIGHLIGHTS:

•
In the fourth quarter of 2026, the Company prepaid $59.1 million under the DHT Nokota Nordea Reducing Revolving Credit Facility and $26.5 million under the DHT Jaguar Nordea Reducing Credit Facility. The prepaid amounts remain available for re-borrowing under the terms of the respective facilities, which have not been cancelled.

•
In November 2026, the Company entered into an agreement with Hanwha Ocean Co., Ltd. for the construction of a VLCC. The vessel is scheduled for delivery in April 2029 and will be a sister vessel to the two VLCCs delivered to the Company in the first quarter of 2026, as well as the VLCC newbuilding scheduled for delivery in August 2028.

2
OUTLOOK:

       
   
Estimated
Q4 2026
  
 
Total term time charter days
1,174
  
 
Average term time charter rate ($/day)7
$ 100,200
  
 
Total spot days for the quarter
930
  
 
Spot days booked to date
630
  
 
Average spot rate booked to date ($/day)
$ 579,900
  
 
Spot P&L break-even for the quarter8
$ -
  

•
Thus far in the fourth quarter of 2026, 68% of the available VLCC spot days have been booked at an average rate of $579,900 per day on a discharge-to-discharge basis. 86% of the available VLCC days, combined spot and time charter days, have been booked at an average rate of $267,500 per day.

Footnotes:
1Shipping revenues net of voyage expenses.
2See reconciliation under “Reconciliation of non-GAAP financial measures”.
3Per common share.
4Operating days are the aggregate number of calendar days in the period in which the vessels are owned by the Company or chartered by the Company.
5As % of total operating days in period.
6Revenue days are the aggregate number of calendar days in the period in which the vessels are owned by the Company or chartered by the Company less days on which a vessel is off hire or repositioning days in connection with sale.
7 The month of October includes profit-sharing. The months of November and December assume only the base rate.
8 Spot P&L break-even for the fourth quarter is less than zero as term time charter earnings are expected to exceed forecasted costs.

3
THIRD QUARTER 2026 FINANCIALS

The Company reported shipping revenues for the third quarter of 2026 of $332.1 million compared to shipping revenues of $107.2 million in the third quarter of 2025. The increase from the 2025 period to the 2026 period includes $219.3 million attributable to higher revenue per day and $5.7 million attributable to an increase in total revenue days.

Other revenues for the third quarter of 2026 were $0.3 million compared to $0.2 million in the third quarter of 2025 and relate to technical management services provided. The decrease is due to a reduction in the fleet size for which the Company provides third-party technical management services.

Other income for the third quarter of 2026 was $2.1 million, compared to $1.0 million in the third quarter of 2025. The income related to the distribution of equity received from The Norwegian Shipowner’s Mutual War Risk Insurance Association.

The Company recorded a gain of $34.2 million in the third quarter of 2026 related to the sale of DHT Bauhinia, compared to a gain of $15.7 million in the third quarter of 2025 related to the sale of DHT Peony.

Voyage expenses for the third quarter of 2026 were $41.8 million, compared to $28.0 million for the third quarter of 2025. The increase was primarily due to an increase in bunker expenses of $7.2 million, an increase in port expenses of $3.5 million, an increase in broker commissions of $2.5 million and an increase in other voyage-related costs of $0.5 million. Voyage expenses generally vary depending on trading patterns during a quarter.

Vessel operating expenses for the third quarter of 2026 were $19.0 million, compared to $18.4 million in the third quarter of 2025. The increase was mainly related to a higher number of operating days resulting from an increase in the average number of vessels in the fleet.

Depreciation and amortization, including depreciation of capitalized survey expenses, was $28.8 million for the third quarter of 2026, compared to $26.0 million in the third quarter of 2025. The change was mainly due to higher vessel depreciation of $4.6 million following the delivery of four newbuildings during 2026, partially offset by a $1.9 million decrease in depreciation due to retrofitted exhaust gas cleaning systems becoming fully depreciated and lower depreciation resulting from the sale of vessels.

General and administrative (“G&A”) expenses for the third quarter of 2026 were $4.3 million, consisting of $3.4 million cash and $0.9 million non-cash charges, compared to $4.1 million in the third quarter of 2025, consisting of $3.4 million cash and $0.7 million non-cash charges. Non-cash G&A expense includes accruals for social security taxes.

Net financial expenses for the third quarter of 2026 were $3.8 million compared to $2.5 million in the third quarter of 2025. The increase was mainly due to $4.1 million higher interest expenses resulting from increased debt following the delivery of four newbuildings, partially offset by a non-cash gain of $2.2 million related to interest rate derivatives, compared to a non-cash loss of $0.4 million in the corresponding period of 2025.

As a result of the foregoing, the Company had a net profit in the third quarter of 2026 of $270.9 million, or earnings of $1.68 per basic share and $1.68 per diluted share, compared to a net profit in the third quarter of 2025 of $44.8 million, or earnings of $0.28 per basic share and $0.28 per diluted share. The increase from the third quarter of 2025 to the third quarter of 2026 was mainly due to a $227.4 million increase in operating income, reflecting stronger operating performance during the period, partially offset by a $1.3 million increase in net financial expenses.

Net cash provided by operating activities for the third quarter of 2026 was $171.4 million compared to $60.9 million for the third quarter of 2025. The increase was due to a net profit of $270.9 million in the third quarter of 2026 compared to a net profit of $44.8 million in the third quarter of 2025, partially offset by a $99.9 million change in operating assets and liabilities and a $15.7 million decrease in non-cash items included in net income.

Net cash used in investing activities was $44.7 million in the third quarter of 2026, comprised of $91.1 million related to investment in vessels under construction and $4.6 million related to investment in vessels, partially offset by $50.9 million related to proceeds from the sale of DHT Bauhinia. Net cash provided by investing activities was $11.5 million in the third quarter of 2025 and was mainly related to proceeds from the sale of DHT Peony of $50.1 million, partially offset by $26.2 million related to investment in vessels under construction and $12.3 million related to investment in vessels.

4
Net cash used in financing activities for the third quarter of 2026 was $133.6 million, comprised of $196.7 million related to cash dividend paid and $11.8 million related to scheduled repayment of long-term debt, partially offset by $75.2 million related to issuance of long-term debt. Net cash used in financing activities for the third quarter of 2025 was $73.8 million, comprised of $38.6 million related to cash dividend paid, $22.1 million related to prepayment of long-term debt, and $12.7 million related to scheduled repayment of long-term debt.

As of September 30, 2026, the cash balance was $154.7 million, compared to $79.0 million as of December 31, 2025.

The Company monitors its covenant compliance on an ongoing basis. As of September 30, 2026, the Company was in compliance with its financial covenants.

As of September 30, 2026, the Company had 161,235,573 shares of common stock outstanding compared to 160,799,407 shares as of December 31, 2025.

The Company declared a cash dividend of $1.45 per common share for the third quarter of 2026 payable on November 30, 2026, for shareholders of record as of November 23, 2026.

NINE MONTHS 2026 FINANCIALS

The Company reported shipping revenues for the first three quarters of 2026 of $803.2 million compared to $353.3 million in the first three quarters of 2025. The increase from the 2025 period to the 2026 period includes $448.2 million attributable to higher revenue per day and $1.7 million attributable to an increase in total revenue days.

Other revenues for the first three quarters of 2026 were $0.7 million compared to $1.0 million in the first three quarters of 2025 and relate to technical management services provided. The decrease is due to a reduction in the fleet size for which the Company provides third-party technical management services.

Other income for the first three quarters of 2026 was $2.1 million, compared to $1.0 million in the first three quarters of 2025. The income related to the distribution of equity received from The Norwegian Shipowner’s Mutual War Risk Insurance Association.

The Company recorded a gain of $94.2 million in the first three quarters of 2026 related to the sale of DHT China, DHT Europe and DHT Bauhinia compared to a gain of $52.9 million in the first three quarters of 2025 related to the sale of DHT Scandinavia, DHT Lotus and DHT Peony.

Voyage expenses for the first three quarters of 2026 were $100.7 million compared to voyage expenses of $102.0 million in the first three quarters of 2025. The decrease was primarily due to fewer vessels operating in the spot market during the first three quarters of 2026, resulting in lower voyage expenses. Specifically, bunker expenses decreased by $10.0 million, partially offset by an increase in broker commission of $5.2 million, an increase in port expenses by $2.1 million and an increase in other voyage-related costs of $1.4 million. Voyage expenses generally vary depending on trading patterns during the period.

Vessel operating expenses for the first three quarters of 2026 were $56.7 million compared to $55.9 million in the first three quarters of 2025. The increase was mainly related to a higher number of operating days resulting from an increase in the average number of vessels in the fleet.

Depreciation and amortization, including depreciation of capitalized survey expenses, was $82.2 million for the first three quarters of 2026, compared to $79.4 million in the first three quarters of 2025. An increase in vessel depreciation of $7.0 million was partially offset by a $4.0 million decrease in depreciation due to retrofitted exhaust gas cleaning systems becoming fully depreciated and lower amortization of drydocking costs of $0.1 million.

5
G&A for the first three quarters of 2026 was $14.8 million, consisting of $11.3 million cash and $3.5 million non-cash charge, compared to $14.3 million, consisting of $10.6 million cash and $3.7 million non-cash charge for the first three quarters of 2025. The decrease in non-cash G&A expenses from the first three quarters of 2025 to the first three quarters of 2026 was attributable to the timing and valuation of shares that vested during the first quarter of 2025 and the second quarter of 2026. Non-cash G&A expense includes accrual for social security taxes related to such awards.

Net financial expenses for the first three quarters of 2026 were $11.7 million, compared to $11.5 million for the first three quarters of 2025.  The increase was mainly due to $5.6 million higher interest expenses resulting from increased debt following the delivery of four newbuildings, partially offset by a non-cash gain of $4.6 million related to interest rate derivatives, compared to a non-cash loss of $0.4 million in the corresponding period of 2025.

As a result of the foregoing, the Company had net profit for the first three quarters of 2026 of $633.7 million, or earnings of $3.93 per basic share and $3.93 per diluted share, compared to net profit of $144.9 million, or earnings of $0.90 per basic share and $0.90 per diluted share in the first three quarters of 2025. The increase was primarily attributable to a $489.1 million increase in operating income, reflecting stronger operating performance during the period. Operating income in the first three quarters of 2026 included a $94.2 million gain on the sale of DHT China, DHT Europe and DHT Bauhinia, compared to a $52.9 million gain on the sale of DHT Scandinavia, DHT Lotus and DHT Peony in the first three quarters of 2025.

Net cash provided by operating activities for the first three quarters of 2026 was $489.7 million compared to $203.7 million for the first three quarters of 2025. The increase was due to net profit of $633.7 million in the first three quarters of 2026, compared to net profit of $144.9 million in the first three quarters of 2025, partially offset by a $162.3 million change in operating assets and liabilities and a $40.6 million decrease in non-cash items included in net income.

Net cash used in investing activities for the first three quarters of 2026 was $115.9 million and was mainly related to investment in vessels under construction of $252.3 million and $14.6 million related to investment in vessels, partially offset by $151.4 million of proceeds from the sales of DHT China, DHT Europe and DHT Bauhinia. Net cash provided by investing activities for the first three quarters of 2025 was $39.2 million and was mainly related to proceeds from the sales of DHT Scandinavia, DHT Lotus and DHT Peony totaling $143.5 million, partially offset by $90.7 million related to investment in vessels under construction and $13.5 million related to investment in vessels.

Net cash used in financing activities for the first three quarters of 2026 was $298.0 million comprised of $365.8 million related to cash dividends paid, $281.0 million related to prepayment of long-term debt, $36.3 million related to scheduled repayment of long-term debt and $5.6 million related to repayment of long-term debt in connection with sale of vessels, partially offset by $391.6 million related to issuance of long-term debt. Net cash used in financing activities for the first three quarters of 2025 was $240.0 million comprised of $130.3 million related to prepayment of long-term debt, $90.0 million related to cash dividends paid, $40.3 million related to scheduled repayment of long-term debt, $25.5 million related to repayment of long-term debt in connection with refinancing, $11.4 million related to repayment of long-term debt in connection with sale of vessels and $6.1 million related to acquisition of non-controlling interests, partially offset by $64.7 million related to issuance of long-term debt.

6
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

The Company assesses the financial performance of its business using a variety of measures. Certain of these measures are termed “non-GAAP measures” because they exclude amounts that are included in, or include amounts that are excluded from, the most directly comparable measure calculated and presented in accordance with IFRS, or are calculated using financial measures that are not calculated in accordance with IFRS. These non-GAAP measures include “Adjusted Net Revenue”, “Adjusted EBITDA” and “Adjusted spot time charter equivalent per day”. The Company believes that these non-GAAP measures provide useful supplemental information for its investors and, when considered together with the Company’s IFRS financial measures and the reconciliation to the most directly comparable IFRS financial measure, provide a more complete understanding of the factors and trends affecting the Company’s operations. In addition, DHT’s management measures the financial performance of the Company, in part, by using these non-GAAP measures, along with other performance metrics. The Company does not regard these non-GAAP measures as a substitute for, or as superior to, the equivalent measures calculated and presented in accordance with IFRS. Additionally, these non-GAAP measures may not be comparable to other similarly titled measures used by other companies and should not be considered in isolation or as a substitute for analysis of the Company’s operating results as reported under IFRS.

USD in thousands except time charter equivalent per day
Q3 2026
Q2 2026
Q1 2026
Q4 2025
Q3 2025
2025
2024
Reconciliation of adjusted net revenue
 
 
 
 
 
 
 
Shipping revenues
332,126
284,819
186,285
143,931
107,151
497,197
567,835
Voyage expenses
(41,781)
(29,856)
(29,083)
(26,081)
(28,047)
(128,088)
(179,623)
Adjusted net revenues
290,344
254,963
157,203
117,850
79,104
369,109
388,212
 
 
 
 
 
 
 
 
Reconciliation of adjusted EBITDA
 
 
 
 
 
 
 
Profit after tax
270,868
198,339
164,527
66,074
44,805
210,962
181,460
Income tax expense
108
 62
126
207
93
413
608
Other financial expenses
824
728
485
544
520
2,396
2,088
Net (gain)/loss on derivative instruments at fair value
(2,163)
(1,290)
(1,119)
(185)
354
170
-
Interest expense
6,664
6,400
4,424
2,290
2,586
14,169
30,399
Interest income
(1,497)
(1,006)
(784)
(590)
  (936)
(3,139)
(3,918)
Gain, sale of vessels
(34,163)
-
(59,994)
-
(15,688)
(52,943)
-
Reversal of previous impairment charges
-
-
-
-
-
-
(27,909)
Depreciation and amortization
28,828
27,752
25,647
26,991
25,969
106,370
111,884
Adjusted EBITDA
269,468
230,984
133,312
95,333
57,703
278,398
294,612
 
 
 
 
 
 
 
 
Reconciliation of adjusted spot time charter equivalent per day*
 
 
 
 
 
 
 
Spot time charter equivalent per day
167,100
162,600
91,700
69,500
38,700
47,300
47,200
IFRS 15 impact on spot time charter equivalent per day**
1,900
(8,500)
14,300
6,000
3,000
800
(900)
Adjusted spot time charter equivalent per day
169,000
154,100
106,000
75,500
41,700
48,100
46,300
* Per revenue days. Revenue days are the aggregate number of calendar days in the period in which the vessels are owned by the Company or chartered by the Company less days on which a vessel is off hire.
** For vessels operating on spot charters, voyage revenues are calculated on a discharge-to-discharge basis. Under IFRS 15, spot charter voyage revenues are calculated on a load-to-discharge basis. IFRS 15 impact refers to the timing difference between discharge-to-discharge and load-to-discharge basis.

7
EARNINGS CONFERENCE CALL AND WEBCAST INFORMATION
The Company will host a conference call and webcast, which will include a slide presentation, at 8:00 a.m. ET/14:00 CET on Tuesday, November 10, 2026, to discuss the results for the quarter.

To access the conference call the participants are required to register using this link:
https://register-conf.media-server.com/register/BI19dc075163194806919c470d0234919f

Upon registering, each participant will be provided with the dial-in info and a unique PIN to join the call as well as an e-mail confirmation with the details. Participants will need to use the conference access information provided in the e-mail received at the point of registering. Participants may also use the “Call Me” feature from an immediate callback from the system. The call will come from a US number.

The webcast, which will include a slide presentation, will be available at the following link:
https://edge.media-server.com/mmc/p/5zaim64v and can also be accessed at http://www.dhtankers.com.

A recording of the audio and slides presented will be available until November 17, 2026, at 14:00 CET. The recording can be accessed through the following link: https://edge.media-server.com/mmc/p/5zaim64v

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 http://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 Securities and Exchange Commission 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

8

DHT HOLDINGS, INC.

UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2026
9
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
($ in thousands)
 
Note
    
September 30, 2026
(Unaudited)
   
December 31, 2025
(Audited)
 
ASSETS
                
Current assets
                
Cash and cash equivalents
      
$
154,726
      
79,034
  
Accounts receivable and accrued revenues
 7
      
190,475
      
53,338
  
Capitalized voyage expenses
        
933
      
1,684
  
Prepaid expenses
        
3,287
      
9,678
  
Derivative financial assets
 4
      2,024
       10  
Inventories
        
29,015
      
24,682
  
Assets held for sale
 5
      -       40,488  
Total current assets
      
$
380,458
      
208,915
  
                     
Non-current assets
                    
Vessels
5
    
$
1,545,687
      
1,083,891
  
Vessels under construction
 5
       13,379
       301,651
  
Vessel upgrades
5
       2,555
       348
  
Other property, plant and equipment
        
6,396
      
6,769
  
Prepaid expenses
         1,943       -  
Goodwill
         1,356       1,356  
Derivative financial assets
  4       2,380       19  
Total non-current assets
      
$
1,573,695
      
1,394,034
  
                     
TOTAL ASSETS
      
$
1,954,153
      
1,602,949
  
                     
LIABILITIES AND EQUITY
                    
Current liabilities
                    
Accounts payable and accrued expenses
      
$
29,288
      
22,761
  
Derivative financial liabilities
 4
       -       68  
Current portion long-term debt
4
      
49,095
      
39,500
  
Other current liabilities
        
1,250
      
994
  
Deferred shipping revenues
 8
      
14,629
      
11,397
  
Total current liabilities
      
$
94,262
      
74,720
  
                     
Non-current liabilities
                    
Long-term debt
4
    
$
449,622
      
389,244
  
Derivative financial liabilities
 4       -       131  
Other non-current liabilities
        
5,641
      
5,598
  
Total non-current liabilities
      
$
455,262
      
394,973
  
                     
TOTAL LIABILITIES
      
$
549,524
      
469,693
  
                     
Equity
                    
Common stock at par value
6
    
$
1,612
      
1,608
  
Additional paid-in capital
        
1,227,399
      
1,223,719
  
Retained earnings / (accumulated deficit)
        
171,711
   
(96,216
)
Translation differences
        
554
      
498
  
Other reserves
        
3,276
      
3,577
  
Total equity attributable to the Company
        
1,404,552
      
1,133,186
  
Non-controlling interest
        
77
      
71
  
Total equity
      
$
1,404,629
      
1,133,257
  
                     
TOTAL LIABILITIES AND EQUITY
      
$
1,954,153
      
1,602,949
  

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements
10
CONSOLIDATED INCOME STATEMENT (UNAUDITED)
($ in thousands, except shares and per share amounts)
          Q3 2026       Q3 2025     9 months 2026     9 months 2025  

 
Note
    
Jul. 1 - Sep. 30,
2026
    
Jul. 1 - Sep. 30,
2025
    
Jan. 1 - Sep. 30,
2026
    
Jan. 1 - Sep. 30,
2025
  
Shipping revenues
      
$
332,126
      
107,151
      
803,230
      
353,266
  
                                     
Other revenues
         293       197       678       971  
                                     
Total revenues
 3
     $ 332,419       107,348       803,908       354,237  
                                     
Other income
         2,059       970       2,059       970  
Gain on sale of vessels
 5       34,163       15,688       94,157       52,943  
                                     
Operating expenses
                                    
Voyage expenses
        
(41,781
)
    
(28,047
)
    
(100,720
)
    
(102,006
)
Vessel operating expenses
        
(18,961
)
    
(18,436
)
    
(56,665
)
    
(55,868
)
Depreciation and amortization
5
      
(28,828
)
    
(25,969
)
    
(82,227
)
    
(79,379
)
General and administrative expenses
        
(4,268
)
    
(4,132
)
    
(14,819
)
    
(14,267
)
Total operating expenses
      
$
(93,838
)
    
(76,584
)
    
(254,430
)
    
(251,521
)
                                     
Operating income
      
$
274,803
      
47,422
      
645,694
      
156,630
  
                                     
Interest income
        
1,497
      
936
      
3,287
      
2,549
  
Interest expense
        
(6,664
)
    
(2,586
)
    
(17,487
)
    
(11,879
)
Net gain/(loss) on derivative instruments at fair value
 4      
2,163
      
(354
)
    
4,573
      
(354
)
Other financial expense
        
(824
)
    
(520
)
    
(2,037
)
    
(1,852
)
Profit before tax
      
$
270,975
      
44,898
      
634,030
      
145,094
  
                                     
Income tax expense
        
(108
)
    
(93
)
    
(296
)
    
(206
)
Profit after tax
      
$
270,868
      
44,805
      
633,734
      
144,888
  
Attributable to owners of non-controlling interest
        
2
      
2
      
7
      
(136
)
Attributable to the owners of parent
      
$
270,866
      
44,803
      
633,727
      
145,024
  
                                     
Attributable to the owners of parent
                                   
Basic earnings per share
        
1.68
      
0.28
      
3.93
      
0.90
  
Diluted earnings per share
        
1.68
      
0.28
      
3.93
      
0.90
  
                                     
Weighted average number of shares (basic)
        
161,235,573
      
160,799,407
      
161,118,454
      
160,653,406
  
Weighted average number of shares (diluted)
        
161,436,225
      
160,885,603
      
161,293,781
      
160,722,392
  

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements

11
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)
($ in thousands)
      Q3 2026       Q3 2025     9 months 2026     9 months 2025  
 
Note
Jul. 1 - Sep. 30,
2026
    
Jul. 1 - Sep. 30,
2025
    
Jan. 1 - Sep. 30,
2026
    
Jan. 1 - Sep. 30,
2025
  
Profit after tax
  
$
270,868
      
44,805
      
633,734
      
144,888
  
                                 
Other comprehensive income:
                                
Items that may be reclassified subsequently to income statement:
                                
Exchange gain on translation of foreign currency denominated subsidiary
    
31
      
(143
)
    
56
      
461
  
Total
  
$
31
      
(143
)
    
56
      
461
  
                                 
Other comprehensive income
  
$
31
      
(143
)
    
56
      
461
  
                                 
Total comprehensive income for the period
  
$
270,899
      
44,661
      
633,790
      
145,349
  
                                 
Attributable to owners of non-controlling interest
  
$
2
      
2
      
7
      
43
  
Attributable to the owners of parent
  
$
270,896
      
44,660
      
633,783
      
145,307
  

 The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements
12
CONSOLIDATED STATEMENT OF CASH FLOW (UNAUDITED)
($ in thousands)
          Q3 2026       Q3 2025     9 months 2026     9 months 2025  
 
Note
    
Jul. 1 - Sep. 30,
2026
    
Jul. 1 - Sep. 30,
2025
    
Jan. 1 - Sep. 30,
2026
    
Jan. 1 - Sep. 30,
2025
  
CASH FLOW FROM OPERATING ACTIVITIES
                                
Profit after tax
      
$
270,868
      
44,805
      
633,734
      
144,888
  
                                     
Adjustments for:
         (6,603 )     9,053
       (14,081 )     26,497
  
Depreciation and amortization
 5
      
28,828
      
25,969
      
82,227
      
79,379
  
Amortization of deferred debt issuance cost
        
537
      
544
      
2,157
      
1,961
  
Loss on disposal of property, plant and equipment
         -       -       28       -  
Gain on sale of vessels
 5
       (34,163 )     (15,688 )     (94,157 )     (52,943 )
Capitalized interest
 5       (438 )     (2,696 )     (3,273 )     (6,249 )
Net (gain)/loss on derivative instruments at fair value
        
(2,163
)
    
354
      
(4,573
)
    
354
  
Compensation related to options and restricted stock
        
775
      
661
      
3,384
      
3,719
  
Net foreign exchange differences
         21       (90 )     126       276  
Income adjusted for non-cash items
      
$
264,264
      
53,858
      
619,653
      
171,384
  
                                     
Changes in operating assets and liabilities
        
(92,874
)
    
7,036
      
(129,989
)
    
32,298
  
Accounts receivable and accrued revenues
        
(104,166
)
    
6,153
      
(136,355
)
    
19,325
  
Capitalized voyage expenses
        
1,893
      
106
      
751
      
988
  
Prepaid expenses
        
3,386
      
(2,100
)
    
4,449
      
774
  
Accounts payable and accrued expenses
        
5,938
      
(3,049
)
    
2,266
      
(3,548
)
Deferred shipping revenues
        
2,254
      
(1,253
)
    
3,232
      
571
  
Inventories
        
(2,179
)
    
7,180
      
(4,333
)
    
14,189
  
Net cash provided by operating activities
      
$
171,390
      
60,894
      
489,664
      
203,683
  
                                     
CASH FLOW FROM INVESTING ACTIVITIES
                                    
Investment in vessels
        
(4,560
)
    
(12,350
)
    
(14,611
)
    
(13,496
)
Investment in vessels under construction         (91,051 )     (26,167 )     (252,305 )     (90,689 )
Proceeds from sale of vessels         50,949       50,090       151,436       143,521  
Investment in other property, plant and equipment
        
(60
)
    
(65
)
    
(385
)
    
(87
)
Net cash provided by/(used in) investing activities
      
$
(44,723
)
    
11,508
      
(115,865
)
    
39,248
  
                                     
CASH FLOW FROM FINANCING ACTIVITIES
                                    
Cash dividends paid
 6
      
(196,707
)
    
(38,592
)
    
(365,801
)
    
(89,969
)
Acquisition of non-controlling interests 6       -       -       -       (6,131 )
Repayment principal element of lease liability
        
(302
)
    
(364
)
    
(948
)
    
(1,069
)
Issuance of long-term debt
 4      
75,203
      
-
      
391,643
      
64,663
  
Scheduled repayment of long-term debt
        
(11,832
)
    
(12,746
)
    
(36,303
)
    
(40,308
)
Prepayment of long-term debt 4
       -       (22,055 )     (281,000 )     (130,330 )
Repayment of long-term debt refinancing 4       -
       -
       -       (25,480 )
Repayment of long-term debt, sale of vessels 4       -       -       (5,625 )     (11,382 )
Net cash used in financing activities
      
$
(133,638
)
    
(73,757
)
    
(298,034
)
    
(240,007
)
                                     
Net (decrease)/increase in cash and cash equivalents
        
(6,971
)
    
(1,355
)
    
75,764
      
2,924
  
Net foreign exchange difference
         14       (55 )     (73 )     183  
Cash and cash equivalents at beginning of period
        
161,683
      
82,660
      
79,034
      
78,143
  
Cash and cash equivalents at end of period
      
$
154,726
      
81,250
      
154,726
      
81,250
  
                                     
Specification of items included in operating activities:
                                    
Interest paid
        
5,988
      
4,545
      
17,930
      
16,526
  
Interest received
        
658
      
389
      
2,739
      
1,867
  

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements
13
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)
($ in thousands, except shares)
                      Retained                          
                Paid-in    
Earnings/
                 Non-        
                Additional     (Accumulated     Translation     Other     Controlling     Total  

Note
Shares
    
Stock
    
Capital
    
Deficit)
    
Differences
    
Reserves
    
Interest
    
Equity
  
Balance at January 1, 2025
  
159,983,104
    
$
1,600
    
$
1,217,651
    
$
(186,321
)
  
$
39
    
$
5,273
    
$
4,459
    
$
1,042,701
  
Profit after tax
                          
145,024
                      
(136
)
    
144,888
  
Other comprehensive income
                          
-
      
282
               179      
461
  
Total comprehensive income
                          
145,024
      
282
              
43
      
145,349
  
Cash dividends declared and paid
                          
(89,969
)
                            
(89,969
)
Acquisition of non-controlling interests
6
                         (1,849 )     156               (4,437 )     (6,131 )
Compensation related to options and restricted stock
  
816,303
      
8
      
6,068
                      
(2,358
)
            
3,719
  
Balance at September 30, 2025
 6
160,799,407
    
$
1,608
    
$
1,223,719
    
$
(133,115
)
  
$
477
    
$
2,916
    
$
64
    
$
1,095,669
  

Balance at January 1, 2026
  
160,799,407
    
$
1,608
    
$
1,223,719
    
$
(96,216
)
  
$
498
    
$
3,577
    
$
71
    
$
1,133,257
  
Profit after tax
                          
633,727
                      
7
   
633,734
  
Other comprehensive income
                          
-
      
56
               -      
56
  
Total comprehensive income
                          
633,727
      
56
              
7
      
633,790
  
Cash dividends declared and paid
                          
(365,801
)
                            
(365,801
)
Compensation related to options and restricted stock
436,166
      
4
      
3,680
                      
(301
)
            
3,384
  
Balance at September 30, 2026
 6
161,235,573
    
$
1,612
    
$
1,227,399
    
$
171,711
 
$
554
    
$
3,276
    
$
77
    
$
1,404,629
  

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements
14
NOTES TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED SEPTEMBER 30, 2026
Note 1 – General information

DHT Holdings, Inc. (“DHT” or the “Company”) is a company incorporated under the laws of the Marshall Islands whose shares are listed on the New York Stock Exchange. The Company’s principal executive office is located at Richmond House, 12 Par-la-Ville Road, Hamilton HM 08, Bermuda. The Company is engaged in the ownership and operation of a fleet of crude oil carriers.

The unaudited interim condensed consolidated financial statements were approved by the Company’s Board of Directors (the “Board”) on November 6, 2026, and authorized for issue on November 9, 2026.

Note 2 – General accounting principles

The interim condensed consolidated financial statements do not include all information and disclosures required in the annual financial statements and should be read in conjunction with DHT’s audited consolidated financial statements included in its Annual Report on Form 20-F for 2025. The interim results are not necessarily indicative of the results for the entire year or for any future periods.

The interim condensed consolidated financial statements have been prepared in accordance with IAS 34 “Interim Financial Reporting” as issued by the International Accounting Standards Board (“IASB”).

The interim condensed consolidated financial statements have been prepared on a historical cost basis. The accounting policies applied in these condensed consolidated interim financial statements are consistent with those presented in the 2025 audited consolidated financial statements.

These interim condensed consolidated financial statements have been prepared on a going concern basis.

15

Note 3 – Revenue and major customers

DHT’s primary business is operating a fleet of crude oil tankers, with a secondary activity of providing technical management services. The Company is organized and managed as one segment based on the nature and financial effects of the business activities in which it engages and the economic environment in which it operates. The consolidated operating results are regularly reviewed by the Company’s chief operating decision maker, the President & Chief Executive Officer, and the Company does not monitor performance by geographical areas.

The table below details the Company’s total revenues:
$ in thousands
    
Q3 2026
      
Q3 2025
    
9M 2026
    
9M 2025
  
Time charter revenues1
    
116,042
      
38,362
      
260,523
      
100,595
  
Voyage charter revenues2
    
216,084
      
68,789
      
542,707
      
252,671
  
Shipping revenues
    
332,126
      
107,151
      
803,230
      
353,266
  
Other revenues3     293       197       678       971  
Total revenues     332,419       107,348       803,908       354,237  
Revenues relating to IFRS 15
     226,056       77,883       571,256       275,873  

1The majority of time charter revenues are recognized in accordance with IFRS 16 Leases, while the portion of time charter revenues related to technical management services, equaling $9,678 thousand in the third quarter of 2026, $8,898 thousand in the third quarter of 2025, $27,872 thousand in the first nine months of 2026 and $22,231 thousand in the first nine months of 2025, is recognized in accordance with IFRS 15 Revenue from Contracts with Customers.
2Voyage charter revenues are related to revenue from spot charters and are recognized in accordance with IFRS 15.
3Other revenues mainly relate to technical management services provided and are recognized in accordance with IFRS 15.

As of September 30, 2026, the Company had 24 vessels, consisting of 23 vessels in operation, of which 12 were on time charters and 11 were operating in the spot market, and one vessel under construction.

Information about major customers:
For the period from July 1, 2026, to September 30, 2026, five customers represented $44.8 million, $35.5 million, $34.1 million, $31.6 million, and $27.1 million, respectively, of the Company’s total shipping revenues. In aggregate, these five customers represented $173.0 million, equal to 52 percent, of total shipping revenues of $332.1 million.

For the period from January 1, 2026, to September 30, 2026, five customers represented $102.3 million, $90.1 million, $88.5 million, $68.7 million, and $65.1 million, respectively, of the Company’s total shipping revenues. In aggregate, these five customers represented $414.7 million, equal to 52 percent, of total shipping revenues of $803.2 million.

For the period from July 1, 2025, to September 30, 2025, five customers represented $19.3 million, $18.0 million, $15.0 million, $13.8 million, and $12.3 million, respectively, of the Company’s total shipping revenues. In aggregate, these five customers represented $78.5 million, equal to 73 percent, of total shipping revenues of $107.2 million.

For the period from January 1, 2025, to September 30, 2025, five customers represented $79.7 million, $63.3 million, $44.4 million, $40.2 million, and $39.9 million, respectively, of the Company’s total shipping revenues. In aggregate, these five customers represented $267.5 million, equal to 76 percent, of total shipping revenues of $353.3 million.

Note 4 – Interest bearing debt

As of September 30, 2026, DHT had interest bearing debt totaling $498.7 million.

Scheduled debt repayments

$ in thousands   Interest rate
      Maturity
      Q4 2026
       2027        2028      Thereafter      Total  
Credit Agricole Credit Facility
    
SOFR + 2.05
%
     2028      
625
      
2,500
      
25,000
      
-
      
28,125
  
ING Credit Facility 1
      SOFR + 1.90 %
    2029       5,625       22,500       22,500       5,625       56,250
 		 
ING Credit Facility
      SOFR + 1.80 %
    2029       750       3,000       3,000       29,250       36,000
 		 
DHT Jaguar - Nordea Reducing Revolving Credit Facility
     SOFR + 1.75 %
    2031       710       2,840       2,840       20,060       26,450  
DHT Nokota - Nordea Reducing Revolving Credit Facility
     SOFR + 1.50 %
    2032       1,231       4,923       4,923       48,000       59,077  
ING and Nordea Export Facility
    
SOFR + 1.32
%
     2038      
3,855
      
15,420
      
15,420
      
267,923
      
302,618
  
Nordea Reducing Revolving Credit Facility 2
    
SOFR + 1.35
 %
    2033       -       -       -       -       -  
Total
                    
12,796
      
51,183
      
73,683
      
370,858
      
508,519
  
Unamortized upfront fees bank loans
                                                    
(9,803
)
Total interest bearing debt
                                                    
498,716
  

1 $157.5 mill. undrawn as of September 30, 2026
2 $243.2 mill. undrawn as of September 30, 2026


Credit Agricole Credit Facility
The credit facility is repayable in quarterly installments of $0.6 million with final payment of $22.5 million in addition to the last installment in December 2028.


ING Credit Facility
In January 2023, the Company entered into a new $405 million secured credit facility, including a $100 million uncommitted incremental facility, with ING, Nordea, ABN AMRO, Credit Agricole, Danish Ship Finance and SEB, as lenders, ten wholly owned special-purpose vessel-owning subsidiaries as borrowers, and DHT Holdings, Inc., as guarantor. Borrowings bear interest at a rate equal to SOFR plus a margin of 1.90% and are repayable in quarterly installments of $5.6 million with maturity in January 2029.

In the first quarter of 2025, the Company prepaid $42.4 million under the revolving credit facility and drew down $10 million for corporate purposes. In the second quarter of 2025, the Company prepaid $25.0 million under the revolving credit facility and drew down $10 million and $15 million, respectively, for corporate purposes. In December 2025, the Company drew $50 million under the revolving credit facility. In January 2026, the Company prepaid $5.6 million of the outstanding balance in connection with the sale of DHT China. In the first quarter of 2026, the Company drew $90 million and prepaid a total of $225 million in connection with the delivery of the three newbuildings.


In September 2023, the Company entered into a $45 million senior secured credit facility under the incremental facility, with ING, Nordea, ABN AMRO, Danish Ship Finance and SEB, as lenders, one wholly owned special-purpose vessel-owning subsidiary as borrower, and DHT Holdings, Inc., as guarantor. Borrowings bear interest at a rate equal to SOFR plus a margin of 1.80% and are repayable in quarterly installments of $0.75 million with maturity in January 2029.


Nordea Credit Facility
In the third quarter of 2025, the Company voluntarily prepaid $22.1 million under the Nordea Credit Facility, covering all scheduled installments for Q4 2025 and the entirety of 2026. In the fourth quarter of 2025, the Company drew $120 million under the revolving credit facility and repaid $64 million in connection with the new facility for DHT Nokota. During the second quarter of 2026, the Company repaid all remaining outstanding under the Nordea Credit Facility in connection with the establishment of the Company’s new $250.0 million Nordea Reducing Revolving Credit Facility. Following the repayment, the Nordea Credit Facility was terminated and as of September 30, 2026, no amounts were outstanding under the facility.

DHT Jaguar – Nordea Reducing Revolving Credit Facility
In April 2025, the Company entered into a $30 million reducing revolving credit facility agreement with Nordea as lender, DHT Jaguar Limited as borrower and DHT Holdings, Inc., as guarantor. The credit facility is repayable or reduced in quarterly installments of $0.7 million with a final payment of $13.7 million in April 2031. The credit facility bears an interest rate equal to SOFR plus a margin of 1.75%.

DHT Nokota – Nordea Reducing Revolving Credit Facility
In September 2025, the Company entered into a $64 million reducing revolving credit facility agreement with Nordea as lender, DHT Nokota, Inc. as borrower and DHT Holdings, Inc., as guarantor. The facility was drawn on November 21, 2025, and is repayable or reduced in quarterly installments of $1.2 million with a final payment of $30.8 million in September 2032. The credit facility bears interest at a rate equal to SOFR plus a margin of 1.50%.

ING and Nordea – Export Facility
In July 2025, the Company entered into a $308.4 million senior secured credit facility for the post-delivery financing of the Company’s four newbuildings with DHT Antelope, Inc., DHT Addax, Inc., DHT Gazelle, Inc., and DHT Impala, Inc. as borrowers and DHT Holdings, Inc., as guarantor (the “ING and Nordea Export Facility”). The facility was co-arranged by ING and Nordea, with ING acting as Coordinator, Facility Agent, Security Agent and ECA Agent.

Each tranche under the facility becomes repayable in 48 equal quarterly installments, commencing three months after its respective utilization date. The facility is repayable in quarterly installments of $3.9 million, with a final balloon payment of $127.2 million due in 2038. The facility bears interest at a rate equal to SOFR plus a weighted average margin of 1.32%, and each tranche matures 12 years from the respective vessel’s delivery date.

As of September 30, 2026, all four newbuildings were delivered, and the Company drew $77.1 million under the facility in connection with the delivery of each vessel.

Nordea Reducing Revolving Credit Facility
In June 2026, the Company entered into a $250.0 million reducing revolving credit facility, including a $250 million uncommitted incremental facility, with Nordea, ING, DNB, ABN AMRO, Credit Agricole, Danish Ship Finance and SEB, as lenders, six wholly owned special-purpose vessel-owning subsidiaries as borrowers, and DHT Holdings, Inc., as guarantor. Borrowings bear interest at a rate equal to SOFR plus a margin of 1.35%. The facility amortizes through scheduled quarterly reductions, with total commitment reducing from $250.0 million at inception to approximately $79.0 million by maturity in June 2033. Quarterly reductions are $6.8 million through the second quarter of 2028, followed by lower scheduled reductions thereafter, with a final reduction of $3.5 million at maturity. As of September 30, 2026, the Company had not drawn any amounts under the facility.
16
Interest rate swaps
Derivatives are classified and measured at fair value in the statement of financial position. Fair value measurement is based on Level 2 in the fair value hierarchy as defined in IFRS 13 Fair Value Measurement. Such measurement is based on techniques for which all inputs that have a significant effect on the recorded fair value are observable. Future cash flows are estimated based on forward interest rates (from observable yield curves at the end of the reporting period) and contract interest rates, discounted at a rate that reflects the credit risk of various counterparties.

As of September 30, 2026, the Company had eight amortizing interest rate swaps totaling $185.0 million with maturity in the fourth quarter of 2028. The average fixed interest rate is 3.32%. As of September 30, 2026, the fair value of the derivative financial assets related to the swaps amounted to $4.4 million.

Derivative financial assets

         Notional amount     Current assets     Non-current assets     Fair value  
$ in thousands
  
Expires
  
Q3 2026
    
Q3 2026
    
Q3 2026
    
Q3 2026
  
Swap pays 3.2840%, receive floating
  
Dec. 8, 2028
    
16,250
       174       208      
382
  
Swap pays 3.2840%, receive floating
  
Dec. 8, 2028
    
16,250
       174       208      
382
  
Swap pays 3.3200%, receive floating
  
Dec. 8, 2028
    
6,250
       43       52      
95
  
Swap pays 3.2790%, receive floating
  
Dec. 8, 2028
    
21,250
       240       286      
526
  
Swap pays 3.3110%, receive floating
  
Oct. 30, 2028
    
26,450
       295       320      
616
  
Swap pays 3.3536%, receive floating
  
Dec. 8, 2028
    
31,250
       348       415      
764
  
Swap pays 3.3536%, receive floating
  
Dec. 8, 2028
    
31,250
       348       415      
764
  
Swap pays 3.3536%, receive floating
  
Dec. 8, 2028
    
36,000
       400       476      
876
  
 Total carrying amount
        
184,950
       2,024       2,380      
4,404
  


Covenant compliance

The Company’s financial covenants as of September 30, 2026, are summarized as follows:

(Applicable to all credit facilities)
     
Covenants
    
Requirement
Charter free market value of vessels that secure facility must be no less than
    
135% of borrowings
Value adjusted* tangible net worth
    
$300 million and 25% of value adjusted total assets
Unencumbered cash of at least
    
Higher of $30 million or 6% of gross interest bearing debt
Guarantor
    
DHT Holdings, Inc.



*Value adjusted is defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company’s vessels (as determined quarterly by a broker approved by the financial institution).


     
Facility
    
Vessels Pledged as Security
Credit Agricole Credit Facility
    
1 VLCC
ING Credit Facility
    
10 VLCCs
Nordea Reducing Revolving Credit Facility
    
6 VLCCs
DHT Jaguar - Nordea Reducing Revolving Credit Facility
    
1 VLCC
DHT Nokota - Nordea Reducing Revolving Credit Facility
    
1 VLCC
ING and Nordea - Export Facility
    
4 VLCCs

As of September 30, 2026, the Company was in compliance with its financial covenants, with significant headroom.

17
Note 5 – Vessels

A vessel’s recoverable amount is the higher of the vessel’s fair value less cost of disposal and its value in use. The carrying amounts of vessels held and used by us are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a particular vessel may not accurately reflect the recoverable amount of a particular vessel. Each of the Company’s vessels have been viewed as a separate CGU as the vessels have cash inflows that are largely independent of the cash inflows from other assets. In instances where a vessel is considered impaired, it is written down to its recoverable amount. For the quarter ending September 30, 2026, the Company performed an assessment using both internal and external sources of information and concluded that there were no indicators of impairment.

Vessels

Cost of Vessels      
$ in thousands
      
At January 1, 2026
    
1,812,535
  
Additions
    
388
  
Transferred from vessels under construction
    543,809  
Transferred from vessels upgrades
    15,340  
Transferred to asset held for sale
    (48,016 )
Retirement 1     (11,180 )
At September 30, 2026
    
2,312,874
  

Depreciation and amortization
      
$ in thousands
      
At January 1, 2026
    
728,644
  
Depreciation and amortization 2
    
80,963
  
Transferred to asset held for sale
    (31,239 )
Retirement 1     (11,180 )
At September 30, 2026
    
767,187
  

Carrying Amount        
$ in thousands
            
At January 1, 2026
    
1,083,891
  
At September 30, 2026
    
1,545,687
  
1 Relates to completed depreciation of drydocking for DHT Amazon, DHT Lion, DHT Osprey, DHT Puma, DHT Panther, and DHT Harrier.
2 Relates solely to depreciation of vessels, drydocking, and EGCS. Depreciation of office leases and other property, plant, and equipment represents an additional $1,264 thousand, which combined with the depreciation of vessels, drydocking, and EGCS comprises $82,227 thousand in depreciation and amortization.


Gain on sale of vessels

In the fourth quarter of 2025, the Company entered into agreements to sell DHT Europe and DHT China, each built in 2007, for an aggregate consideration of $101.6 million. DHT Europe was delivered to its new owner on January 30, 2026, and DHT China was delivered on March 30, 2026. Following the repayment of existing debt associated with one of the vessels in the amount of $5.6 million, the Company received net cash proceeds of approximately $95.0 million. The Company recognized a gain of $60.0 million in the first quarter of 2026 in connection with the sales.


In January 2026, the Company entered into an agreement to sell DHT Bauhinia, built in 2007, for a sales price of $51.5 million. The vessel was delivered to its new owner in July 2026 and was debt-free at the time of sale. The Company received net cash proceeds of approximately $50.9 million, and the Company recognized a gain of $34.2 million in the third quarter of 2026 in connection with the sale.

In the first nine months of 2025, the Company recognized a gain of $52.9 million related to the sales of DHT Scandinavia, DHT Lotus and DHT Peony.


Vessel upgrades

Cost of vessel upgrades relates to prepaid drydocking.

Cost of vessel upgrades      
$ in thousands
      
At January 1, 2026
    
348
  
Additions
    
17,546
  
Transferred to vessels
     (15,340 )
At September 30, 2026
    
2,555
  

Vessels under construction
In 2024 the Company entered into agreements to build  four large VLCCs, fitted with exhaust gas cleaning systems, two at Hyundai Samho Heavy Industries Co., Ltd. (“HHI”) and two at Hanwha Ocean Co., Ltd. (“Hanwha”) in South Korea. The average price for the four ships is $130.3 million, adjusted for change orders. As of September 30, 2026, the Company has paid $521.1 million related to the installments under this newbuild program. Total capitalized borrowing costs related to the financing of the vessels under construction amounted to $15.7 million, at an average interest rate of 6.1% per annum, and total other directly attributable expenses amounted to $7.0 million. The newbuild program is funded in part through a $308.4 million post-delivery senior secured credit facility. The Company took delivery of the first VLCC newbuilding on January 2, 2026. The second and third newbuildings were delivered on March 6, 2026, and March 30, 2026, respectively, and the fourth newbuilding was delivered on July 24, 2026.

In June 2026, the Company entered into an agreement with Hanwha for the construction of a VLCC. The vessel has large carrying capacity, will be fitted with an exhaust gas cleaning system and is scheduled for delivery in August 2028. As of September 30, 2026, the Company has paid $13.3 million related to the first installment. Capitalized borrowing costs amounted to $0.1 million, at an average interest rate of 5.2% per annum, and total other directly attributable expenses amounted to less than $0.1 million.

Cost of vessels under construction      
$ in thousands
      
At January 1, 2026
    
301,651
  
Additions
     255,536  
Transferred to vessels
    (543,809 )
At September 30, 2026
    
13,379
  

18

The following table represents future expected payments related to the vessels under construction as of September 30, 2026:
Vessels under construction      
$ in thousands
      
Within the next 12 months
    
26,550
  
From one to two years
    92,925  
At September 30, 2026*
    
119,475
  


*These are estimates only and are subject to change as construction progresses.

Note 6 – Stockholders’ equity and dividend payments

   
Common stock
  
Issued at September 30, 2026
    
161,235,573
  
Number of shares authorized for issue at September 30, 2026
    
250,000,000
  
Par value
  
$
0.01
  

Common stock
Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders.

Stock repurchases
No stock repurchases were made during the first three quarters of 2026 or during the year ended December 31, 2025.

Dividend payments
Dividend payments made year-to date as of September 30, 2026:

Payment date
$ in thousands, except per common share
   
Total payment
  
Per common share
  
August 24, 2026
   $
196,707
  $
1.22
  
May 28, 2026
   $
103,067
  $
0.64
  
February 26, 2026
   $
66,027
 
$
0.41
  
Total payments made year-to-date as of September 30, 2026
   $
365,801
  $
2.27
  

Dividend payment made during 2025:

Payment date
$ in thousands, except per common share
   
Total payment
  
Per common share
  
November 19, 2025
   $ 28,944   $
0.18
  
August 25, 2025
   $
38,592

$
0.24
  
May 28, 2025
   $
24,091

$
0.15
  
February 25, 2025
   $
27,286

$
0.17
  
Total payments made during 2025
   $
118,913

$
0.74
  

Note 7 – Accounts receivable and accrued revenues

As of September 30, 2026, $190.5 million, consisting mainly of accounts receivable with no material amounts overdue, was recognized as accounts receivable and accrued revenues in the interim consolidated statement of financial position, compared to $53.3 million as of December 31, 2025.

19
Note 8 – Deferred shipping revenues

Deferred shipping revenues relate to charter hire payments paid in advance. As of September 30, 2026, $14.6 million was recognized as deferred shipping revenues in the interim consolidated statement of financial position, compared to $11.4 million as of December 31, 2025.

Note 9 - Financial risk management, objectives, and policies

Note 9 of the consolidated financial statements included in the 2025 Annual Report on Form 20-F provides details of financial risk management objectives and policies.

The Company’s principal financial liability consists of long-term debt with the main purpose being to partly finance the Company’s assets and operations. The Company’s financial assets mainly comprise cash.

The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the management of these risks.

Note 10 – Subsequent events

On November 6, 2026, the Board approved a dividend of $1.45 per common share related to the third quarter of 2026 to be paid on November 30, 2026, for shareholders of record as of November 23, 2026.

In the fourth quarter of 2026, the Company prepaid $59.1 million under the DHT Nokota Nordea Reducing Revolving Credit Facility and $26.5 million under the DHT Jaguar Nordea Reducing Credit Facility. The prepaid amounts remain available for re-borrowing under the terms of the respective facilities, which have not been cancelled.

In November 2026, the Company entered into an agreement with Hanwha Ocean Co., Ltd. for the construction of a VLCC. The vessel is scheduled for delivery in April 2029 and will be a sister vessel to the two VLCCs delivered to the Company in the first quarter of 2026, as well as the VLCC newbuilding scheduled for delivery in August 2028.


20

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

6 documents

Press Releases

Other Documents

Keep reading

More on DHT

All DHT news

Trending in the feed

NVDA
Statement from the Independent Members of the NVIDIA Board Open the live feed