Take two

DHT Holdings has added two more VLCCs to its fleet of tankers in a transaction worth nearly $100m.
DHT has splashed nearly $380m on VLCCs in less than two months.

DHT has splashed nearly $380m on VLCCs in less than two months.

The New York-listed company, which trades under the ticker DHT, shed light on the acquisition in its fourth-quarter earnings report.

On Wednesday evening the operator indicated it purchased two vessels that were built in 2006 and 2007 but failed to identify the ships by name.

DHT noted the acquisition of the tankers, which are due for delivery next month, will be funded by a combination of what it described as “conventional mortgage financing and “an acquisition facility”.

“DHT considers this an attractive addition to its fleet and will continue to pursue investment opportunities and grow the company,” it added in reference to a deal that follows a recent series of newbuilding orders.

According to Compass Maritime Services, a US brokerage that speciliases in sale-and-purchase, five and ten-year-old VLCCs are currently fetching $61m and $41m on average, respectively, in today’s secondhand market.

While industry researchers are yet to weigh in on the deal many will likely applaud DHT’s latest transaction since acquisition candidates are becoming increasingly hard to come by due to rising freight rates and a subsequent spike in asset values.

Double Hull Tankers
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