DHT bags 2018-built VLCC for $94.5m

DHT Holdings has acquired a five-year-old Korean-built VLCC for $94.5m. The unnamed vessel is scheduled to deliver during the third quarter of 2023. 

DHT president and CEO, Svein Moxnes Harfjeld, commented: “We are constantly hunting high and low for opportunities that can bring value to our shareholders. As always, the devil is in the details and this is a sister of vessels built by us in 2018, a design with large deadweight and premium earning capabilities, fitting well into the trading patterns of our key customers. We expect this to become a good investment, delivering into a market with attractive prospects.” 

Five-year-old VLCCs have been increasing in price of late, with DHT looking like it has pulled off a bargain given that the Baltic Exchange now lists such ships as worth $98m each.