DHT announced a $50m buyback after delivering a fourth-quarter result that met expectations as tanker rates remain strong.
The New York-listed tanker owner reported net income of $32.4m, up 13% from a year earlier, while earnings per share of $0.31 was in-line with analysts average estimates. Revenue net of voyage expenses rose 69% from a year ago to $80m.
Thanks to its VLCC fleet, DHT saw time-charter equivalent (TCE) earnings of $62,500 per day in the spot market, while full-year 2015 TCE earnings came in at $58,700 per day.
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