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DHT reports $22.2m Q2 profit on strong tanker market

DHT reports $22.2m Q2 profit on strong tanker market
New York-listed DHT Holdings reported a $22.2m profit in the second quarter buoyed by a strong tanker market.

The second quarter profit compared to a $8.1m loss in the same period in 2014. Net revenues soared to $68.1m in the second quarter of 2015 compared to just $14.5m in Q2 2014. Revenues were boosted by the addition of seven vessels from Samco in September last year.

DHT said that its VLCCs operating on the spot market achieved time charter equivalent earnings of $52,300 per day in the quarter. The company has a fleet 20 VLCCs, including six under construction, two suezmaxes and two aframaxes.“Of the 18 vessels currently in operation, 10 are on fixed rate time charters and eight have spot market exposure,”DHT said.

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