DHT Holdings, Inc. announced it has entered into an agreement to sell the DHT Scandinavia, a Very Large Crude Carrier built in 2006, for a price of $43.4 million. The company anticipates delivering the vessel to its new owner in January 2025. This divestiture is part of DHT's ongoing fleet management strategy.
The DHT Scandinavia has no outstanding bank debt, meaning the entire sale proceeds will be available for general corporate purposes. These purposes include potential investments in other vessels, share buy-backs, or prepayment of existing debt, providing the company with significant financial flexibility.
The sale is expected to reduce the average age of DHT's fleet, contributing to a more modern and efficient operational profile. Furthermore, this strategic move is projected to improve the company's environmental performance metrics, specifically its AER, EEOI, and CII ratings, aligning with industry trends towards greater sustainability.
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