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Hamilton, Bermuda - April 15, 2025
DHT Holdings, Inc. (NYSE:DHT) ("DHT" or the "Company") today announces that it has entered into an agreement to sell the DHT Lotus and the DHT Peony for a combined price of $103 million. Both vessels were built at Bohai Shipbuilding Heavy Industry Co, China, in 2011. The vessels are expected to be delivered to the new owner in April and July, respectively.
After repayment of existing debt on the vessels, amounting to $15.9 million in aggregate, the transaction is expected to generate net cash proceeds of approximately $85.0 million.
The Company expects to record gains of $17.5 million and $15.5 million in the second and third quarter respectively.
The vessels were acquired in 2017 as part of the acquisition of BW Group's VLCC fleet for an aggregate price of $115.8 million.
President & CEO, Svein Moxnes Harfjeld, stated: "These two vessels have served us well over the past eight years. We have taken this opportunity to fine-tune our fleet profile, aligning our service offering with customer needs and market trends."
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.
DHT Holdings, Inc. press release
