New York-listed DHT has the option to add a third $92.7mVL to its order at Hyundai Heavy Industries which was signed a few weeks ago.
Veteran analyst Jonathan Chappell of Evercore Partnerssays the owner has undergone a “balance sheet transformation” having raised$106m from a private placement ahead of the HHI order.
Chappell argues adding 50% leverage to its $115m cashbalance would enable DHT to acquire three newbuildVLCCs without hurting its capital structure.
“Given
