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DHT Holdings, Inc. announces sale of the DHT Scandinavia

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DHT Holdings announced the sale of its 2006-built VLCC vessel, DHT Scandinavia, for $43.4 million. The delivery to the new owner is expected in January 2025. The vessel has no outstanding bank debt, and the proceeds will be used for general corporate purposes, including vessel investments, share buy-backs, or debt prepayment. The transaction will benefit the company by reducing the fleet's average age and improving its AER, EEOI, and CII metrics.

DHT Holdings ha annunciato la vendita della sua nave VLCC costruita nel 2006, DHT Scandinavia, per 43,4 milioni di dollari. La consegna al nuovo proprietario 猫 prevista per gennaio 2025. La nave non ha debiti bancari in sospeso e il ricavato sar脿 utilizzato per scopi aziendali generali, comprese le investimenti in navi, il riacquisto di azioni o il pagamento anticipato del debito. La transazione avvantagger脿 l'azienda riducendo l'et脿 media della flotta e migliorando i suoi AER, EEOI e CII metrics.

DHT Holdings anunci贸 la venta de su buque VLCC construido en 2006, DHT Scandinavia, por 43,4 millones de d贸lares. Se espera que la entrega al nuevo propietario ocurra en enero de 2025. El buque no tiene deudas bancarias pendientes y los ingresos se utilizar谩n para fines corporativos generales, incluidas inversiones en buques, recompra de acciones o pago anticipado de deudas. La transacci贸n beneficiar谩 a la empresa al reducir la edad promedio de la flota y mejorar sus AER, EEOI y m茅tricas CII.

DHT 頇霐╈姢電 2006雲勳棎 瓯挫“霅 VLCC 靹犽皶 DHT Scandinavia鞚 韺愲Г毳 4,340毵 雼煬鞐 氚滍憸頄堨姷雼堧嫟. 靸堧鞖 靻岇湢鞛愳棎瓴 鞚鸽弰電 2025雲 1鞗旊 鞓堨儊霅╇媹雼. 頃措嫻 靹犽皶鞚 氙胳旮 鞚頄 攵毂勱皜 鞐嗢溂氅, 靾橃澋旮堨潃 靹犽皶 韴瀽, 鞛愳偓欤 毵れ瀰 霕愲姅 攵毂 臁瓣赴 靸來櫂 霌 鞚茧皹 旮办梾 氇╈爜鞐 靷毄霅 鞓堨爼鞛呺媹雼. 鞚 瓯半灅電 頃寑鞚 韽夑窢 鞐半牴鞚 欷勳澊瓿 AER, EEOI 氚 CII 歆響毳 臧滌劆頃橃棳 須岇偓鞐 鞚挫澋鞚 霅 瓴冹瀰雼堧嫟.

DHT Holdings a annonc茅 la vente de son navire VLCC construit en 2006, DHT Scandinavia, pour 43,4 millions de dollars. La livraison au nouveau propri茅taire est pr茅vue pour janvier 2025. Le navire n'a pas de dettes bancaires en cours, et le produit de la vente sera utilis茅 脿 des fins g茅n茅rales de l'entreprise, y compris les investissements dans des navires, le rachat d'actions ou le remboursement anticip茅 de dettes. La transaction profitera 脿 l'entreprise en r茅duisant l'芒ge moyen de la flotte et en am茅liorant ses AER, EEOI et m茅triques CII.

DHT Holdings gab den Verkauf seines im Jahr 2006 gebauten VLCC-Schiffs DHT Scandinavia 蹿眉谤 43,4 Millionen US-Dollar bekannt. Die Lieferung an den neuen Eigent眉mer wird 蹿眉谤 Januar 2025 erwartet. Das Schiff hat keine ausstehenden Bankverbindlichkeiten, und die Erl枚se werden 蹿眉谤 allgemeine Unternehmenszwecke verwendet, einschlie脽lich Schiffsinvestitionen, Aktienr眉ckk盲ufen oder Schuldenr眉ckzahlungen. Die Transaktion wird das Unternehmen beg眉nstigen, indem das Durchschnittsalter der Flotte reduziert und die AER-, EEOI- und CII-Metriken verbessert werden.

Positive
  • Sale price of $43.4 million for an aging vessel
  • No outstanding debt on the vessel
  • Improvement in fleet age profile and environmental metrics
  • Flexible use of proceeds including potential shareholder returns through buybacks
Negative
  • Reduction in fleet capacity

Insights

The sale of DHT Scandinavia for $43.4 million represents a strategic move to optimize DHT Holdings' fleet composition and balance sheet. For a 17-year-old VLCC, this is a strong price realization in the current market. With no outstanding debt on the vessel, the full proceeds provide significant financial flexibility for the company. The strategic options for fund allocation - whether through fleet renewal, share repurchases, or debt reduction - all support shareholder value creation. The transaction will also improve the company's environmental metrics and fleet age profile, which is increasingly important for charterers and investors. This asset optimization aligns with industry trends toward newer, more efficient vessels while capitalizing on strong second-hand vessel values.

This transaction reflects the robust secondhand market for VLCCs, particularly noteworthy given the vessel's age. The timing appears opportune as tanker values remain elevated due to strong freight rates and vessel availability. The sale strengthens DHT's position to potentially acquire younger vessels or return capital to shareholders, depending on market conditions. The improvement in environmental metrics (AER, EEOI and CII) is particularly significant as regulatory pressures and charterer preferences increasingly favor more efficient vessels. This strategic move could enhance DHT's competitive position in securing premium charter rates and maintaining strong relationships with quality charterers.

HAMILTON, BERMUDA, December 12, 2024 鈥 DHT Holdings, Inc. (NYSE:DHT) (鈥淒HT鈥 or the 鈥淐ompany鈥) has entered into agreement to sell the DHT Scandinavia, a 2006 built VLCC, for $43.4 million. The Company expects to deliver the vessel to its new owner in January 2025. The vessel has no outstanding bank debt and the sale proceeds will be allocated to general corporate purpose, hereunder investments in vessels, share buy-backs or prepayment of debt. The sale will reduce the average age of the Company鈥檚 fleet and improve its AER, EEOI and CII metrics.听

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 combination of market exposure and fixed income contracts for our fleet; our counter cyclical philosophy with respect to investments, employment of our fleet, and capital allocation; and our transparent corporate structure maintaining a high level of integrity and good governance. For further information please visit .

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鈥檚 management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as 鈥渂elieve,鈥 鈥渋ntend,鈥 鈥渁nticipate,鈥 鈥渆stimate,鈥 鈥減roject,鈥 鈥渇orecast,鈥 鈥減lan,鈥 鈥減otential,鈥 鈥渨ill,鈥 鈥渕ay,鈥 鈥渟hould鈥 and 鈥渆xpect鈥 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鈥檚 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鈥檚 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鈥檚 Annual Report on Form 20-F, filed with the SEC on March 20, 2024.

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鈥檚 actual results could differ materially from those anticipated in these forward-looking statements.

Contact:
Laila C. Halvorsen, CFO
Phone: +1 441听295 1422 and +47 984 39 935
E-mail: lch@dhtankers.com



FAQ

How much is DHT selling the DHT Scandinavia vessel for?

DHT Holdings is selling the DHT Scandinavia vessel for $43.4 million.

When will DHT Holdings deliver the DHT Scandinavia to its new owner?

DHT Holdings expects to deliver the DHT Scandinavia to its new owner in January 2025.

What will DHT do with the proceeds from the DHT Scandinavia sale?

The proceeds will be used for general corporate purposes, including vessel investments, share buy-backs, or debt prepayment.

How will the sale of DHT Scandinavia affect DHT's fleet metrics?

The sale will reduce the average age of DHT's fleet and improve its AER, EEOI, and CII environmental metrics.

What is the build year of the DHT Scandinavia VLCC vessel?

The DHT Scandinavia is a 2006-built VLCC vessel.

DHT HOLDINGS, INC.

NYSE:DHT

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1.62B
139.15M
13.82%
62.14%
3.3%
Oil & Gas Midstream
Energy
United States of America
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