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DHT profits rise on strong tanker market
Profits continued to rise in the third quarter for DHT Holdings boosted by the strong VLCC market.
1 Min Read
Kalyakan - stock.adobe.com
DHT reported a third quarter profit of $27.5m, up $22.2m in the preceding quarter and major turnaround from Q3 in 2014 when it lost $7.1m.
Net revenues in Q3 2015 were $74.4m more than triple the $21.8m reported in the same period a year earlier.
DHT said it VLCCs operating the spot market achieved average earnings of $59,600 per day in the third quarter.
The company has 14 VLCCs on the water and six under construction, and two suezmaxes and two aframaxes. Of the 18 vessels in operation nine are trading spot and nine are on fixed rate charters.
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