DHT Holdings, Inc. - Overseas Shipholding Group, Inc. files motions to reject charters

ST. HELIER, CHANNEL ISLANDS, December 11, 2012

DHT Holdings, Inc. (NYSE:DHT) ("DHT" or the "Company") announced that Overseas Shipholding Group, Inc. and certain of its subsidiaries (collectively, "OSG") filed rejection motions on December 6, 2012 with the U.S. Bankruptcy Court for the District of Delaware (the "Court"), which motions seek the Court's approval to reject the bareboat charters for the Overseas Newcastle and the Overseas London.

Pursuant to these two bareboat charters, the Company had placed the two vessels on bareboat charters to OSG through December 2014 (Overseas Newcastle) and January 2018 (Overseas London).

The Company currently expects that the two vessels will be redelivered to its subsidiaries in the coming weeks. As discussed in the Company's third quarter earnings release issued on October 23, 2012, the Company adjusted the carrying value of its fleet through an impairment charge. DHT does not expect any further impairment charge as a result of the redelivery of the two vessels.

The Company will continue to monitor the OSG bankruptcy proceedings.

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, Aframax and Suezmax segments. We operate out of Oslo, Norway, through our wholly owned management company. You shall recognize us by our business approach with an experienced organization with focus on first rate operations and customer service, quality ships built at quality shipyards, prudent capital structure with robust cash break even levels to accommodate staying power through the business cycles, a combination of market exposure and fixed income contracts for our fleet and a clean corporate structure maintaining a high level of integrity and good governance. For further information: www.dhtankers.com.

DHT Holdings, Inc. press release