Apr. 14 at 10:22 AM
$DHT DHT Holdings provides business update
DHT Holdings provided the following business update: For the first quarter, the company estimates time charter equivalent earnings for its fleet at
$38,200 per day, comprising of
$36,300 per day for the company's VLCCs operating in the spot market and
$42,700 per day for the company's VLCCs on time charter. The estimated time charter equivalent earnings are based on 2,077 revenue days for the first quarter, of which 1,465 days are spot days. Thus far in the second quarter of 2025, 56% of the available spot days have been booked at an average rate of
$48,700 per day on a discharge-to-discharge basis.
73% of the available revenue days, spot and time-charter days combined, have been booked at an average rate of
$45,100 per day. In March, the company entered into a one-year time charter contract for DHT Tiger, built 2017, with a global energy company. The time charter contract has a rate of
$52,500 per day. DHT Tiger was delivered into the time charter contract at the end of March 2025. In April, the company entered into a seven-year time charter contract for DHT Appaloosa, built 2018, with a global energy company.
The time charter contract has a fixed base rate of $ 41,000 per day plus an index-based profit-sharing structure calculated on the ship's specifications. All index-based earnings in excess of
$41,000 will be shared equally between the customer and DHT. The customer has the option to extend for two additional years. DHT Appaloosa is expected to deliver into the time charter contract in May.
