DHT Holdings, Inc. announced it has entered into an agreement to acquire a Very Large Crude Carrier (VLCC) built in 2018 at Hyundai Heavy Industries (HHI) for $107 million. The vessel is scheduled for delivery towards the end of the third quarter of 2025. This acquisition marks a significant investment in modernizing and enhancing the company's fleet.
The acquisition will be financed through the company’s available liquidity and projected mortgage debt, demonstrating a balanced approach to capital deployment. The newly acquired vessel is a sister ship to others in DHT's fleet, ensuring operational familiarity and efficiency, and is fitted with an exhaust gas cleaning system.
This strategic purchase is expected to improve DHT’s overall age profile and further enhance the fleet’s efficiency metrics. President & CEO Svein Moxnes Harfjeld stated that the acquisition is intended to improve earnings per share for shareholders and replace some of the earnings capacity divested earlier in the year, positioning the company for attractive market prospects.
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