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DHT Holdings secures $50m in financing for scrubber retrofits

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DHT Holdings has raised $50m in financing for its scrubber retrofit programme.

New York-listed DHT said it had secured a $50m increase in a $300m secured credit facility, with an interest rate of LIBOR +2.4%. All seven banks in the existing facility - Nordea, ABN Amro, Danish Ship Finance, DNB, ING, SEB and Swedbank – participated in the increase.

The increased facility will have quarterly repayments of $2.5m a quarter from Q2 2020.

DHT co-CEOs Svein Moxnes Harfjeld and Trygve P. Munthe said: "We are very pleased with the solid support from our banking universe in financing this attractive investment for DHT. We have obtained competitive terms with a structure tailored to the execution of the project."

The availability of financing has been one of the barriers to owners installing scrubbers.

The tanker owner is fitting scrubbers from Alfa Laval to 12 VLCCs in its fleet to comply with the IMO’s 2020 0.5% global sulphur cap for marine fuel.

Read more: DHT fitting 12 VLCCs with Alfa Laval scrubbers

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