DHT Holdings announced the sale of its two 2007‑built very large crude carriers, the DHT China and the DHT Europe, for a combined price of $101.6 million. After repaying $5.6 million of existing debt on the vessels, the company expects net cash proceeds of roughly $95 million and gains of $30.4 million and $29.7 million on the two sales.
The transaction reduces DHT’s fleet by two vessels, bringing the total from 21 to 19 VLCCs. The company’s strategy is to maintain a younger fleet, which is more fuel‑efficient and can command higher charter rates. Selling older, 2007‑built ships aligns with that goal and frees capital for newer acquisitions, such as a 2018‑built VLCC purchased in Q3 2025.
The $95 million in net proceeds will strengthen DHT’s balance sheet, providing liquidity for future fleet renewal and capital allocation initiatives. The company has a disciplined approach to capital allocation, balancing dividends, debt reduction, and investments in vessels. The proceeds will support these priorities and help maintain shareholder returns.
VLCC market conditions have been favorable, with surging spot rates driven by geopolitical tensions and global oil stockpiling. A younger fleet positions DHT to capture higher rates and better operating margins, while older vessels face higher maintenance costs and stricter environmental regulations. The sale therefore improves the company’s cost structure and market positioning.
Management emphasized that the transaction is part of a broader strategy to modernize the fleet and maintain operational quality. By divesting older assets and reinvesting in newer vessels, DHT aims to sustain competitive charter rates and enhance long‑term profitability. The company’s focus on disciplined capital allocation and fleet renewal signals confidence in its growth trajectory.
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