DHT Holdings, Inc. provided a business update, estimating time charter equivalent (TCE) earnings for its fleet in the first quarter of 2025 at $38,200 per day. This figure includes $36,300 per day for VLCCs operating in the spot market and $42,700 per day for vessels on time charter. The Q1 estimates are based on 2,077 revenue days, with 1,465 days in the spot market.
For the second quarter of 2025, the company reported that 56% of its available spot days have been booked at an average rate of $48,700 per day on a discharge-to-discharge basis. Furthermore, 73% of the combined available revenue days, including both spot and time-charter days, have been booked at an average rate of $45,100 per day, indicating a strong start to the quarter.
In March 2025, DHT Holdings entered into a one-year time charter contract for the DHT Tiger, a 2017-built vessel, with a global energy company at a rate of $52,500 per day. Additionally, in April 2025, the company secured a seven-year time charter contract for the DHT Appaloosa, a 2018-built vessel, with a global energy company. This contract features a fixed base rate of $41,000 per day plus an index-based profit-sharing structure, with the customer having an option to extend for two additional years.
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