- DHT Holdings will acquire a 2018-built VLCC from Hyundai Heavy Industries for $107 million, with delivery expected in Q3 2025.
- The vessel, equipped with an exhaust gas cleaning system, will enhance fleet efficiency and reduce the company’s average vessel age.
- CEO Svein Moxnes Harfjeld highlighted the vessel’s alignment with DHT’s operational model and its potential to boost shareholder value.
- The acquisition supports DHT’s strategy to maintain premium earning capacity and meet the trading needs of key customers.
DHT Holdings Inc. has announced plans to acquire a 2018-built Very Large Crude Carrier (VLCC) from Hyundai Heavy Industries for $107 million. The vessel, equipped with an exhaust gas cleaning system, is expected to be delivered by the end of the third quarter in 2025. The purchase will be funded through DHT’s existing liquidity and anticipated mortgage debt. The move is set to enhance the company’s fleet efficiency and lower the overall average age of its vessels, according to a release from DHT Holdings Inc.
CEO Outlines Fleet and Market Alignment
DHT’s latest vessel acquisition reflects its broader strategy to enhance fleet performance and deliver long-term value to shareholders. According to President and CEO Svein Moxnes Harfjeld, the newly purchased VLCC shares the same design as vessels the company built in 2018, known for their high carrying capacity and strong earning potential. Harfjeld emphasized that the addition aligns with DHT’s operational needs and customer trading patterns, while also replacing earnings capacity from earlier divestments. He noted the timing of the acquisition positions the company well to capitalize on favorable market conditions.
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Source: DHT Holdings Inc
