DHT Orders Four Large VLCCs

• DHT Holdings, Inc. has contracted to build four large VLCCs.
• DHT plans to finance the project through cash flows, liquidity, and new mortgage debt, without issuing new capital.
• The company emphasizes first-rate operations, quality ships, etc.

DHT Holdings, Inc. has contracted to build four large Very Large Crude Carriers (VLCCs). The vessels will be constructed in South Korea, with two each at Hyundai Samho Heavy Industries and Hanwha Ocean. Delivery is scheduled between April and December 2026, with an average price of $128.5 million for the four ships, reports DHT.

Specifications and Features

The VLCCs will be built to high specifications with new Super Eco-designs.

They will offer premium earning power through improved fuel economics, reduced emissions, and a large carrying capacity of about 320,000 metric tons.

Features include Exhaust Gas Cleaning Systems, Tier III compliance, and readiness for multiple fuels.

Financing and Impact

DHT plans to finance the project through cash flows, liquidity, and new mortgage debt, without issuing new capital.

The investments are expected to enhance earnings and align with the company’s dividend policy.

Market Dynamics

The VLCC sector’s vessel supply scenario is favorable, with the current order book representing less than 3% of the existing fleet.

Delivery slots for potential additional VLCC orders are available from 2027 onwards, facing competition from other shipping segments.

The fleet is aging rapidly, with nearly 50% projected to be over 15 years old by the end of 2026.

About DHT Holdings, Inc.

DHT is an independent crude oil tanker company operating internationally.

The company emphasizes first-rate operations, customer service, quality ships, and prudent capital structure.

DHT maintains a counter-cyclical philosophy with a focus on integrity and good governance.

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Source: DHT

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