DHT Holdings accelerates VLCC newbuild deliveries

In February this year DHT ordered four VLCC newbuildings split equally between Hanwha Ocean and Hyundai Samho Heavy Industries.

On the initial orders DHT had already managed to secure relatively early delivery slots between April and December 2026. In a business update the NYSE-listed tanker owner said it had expedited delivery of the newbuildings with the first VLCC now due to be delivered in January 2026, the second vessel in April, the third in Maym and the fourth and final newbuild is expected to be delivered in July 2026.

By managing to bring forward deliveries from the yards by as much as six months DHT noted it would increase revenue earning days for 2026.

The company has expidited the newbuild deliveries at a time when the tanker market continues to remain buoyant. For the second quarter of 2024 DHT estimated average time charter equivalent earnings for its VLCC of $49,100. Earnings comprised an average of $52,700 per day for its VLCCs operating in the spot market and $36,400 per day for those on time-charter.

For the third quarter of 2024 DHT has booked 48% of the available spot days at an average rate of $45,600. The company has booked a combined 61% of revenues days for spot and time-charter in the third quarter at an average of $42,300 per day.

Related:DHT orders four VLCCs at Hyundai Samho and Hanwha Ocean