DHT Holdings, Inc. (“DHT”) announced that it has completed the delivery of the nine VLCCs acquired from the BW Group Limited and the contracts for the two newbuildings due for delivery in 2018 have been transferred to DHT.
DHT has a fleet of 30 VLCCs, 26 in the water and four under construction scheduled for delivery in 2018, as well as two Aframaxes. The total dwt of the fleet is 9,498,752. Senior management commented: “The delivery of the fleet acquired from BW has been conducted in a speedy and efficient manner, speaking volumes of the professionalism and commitment by everyone involved both onshore and onboard the ships. Our fleet has expanded by about 50% at what we think is an opportune time in the cycle. The transaction will deliver cost synergies by lowering G&A expenses per ship and is projected to be accretive to DHT’s earnings. Importantly, it will further improve our already competitive cash break even levels.”
DHT is an independent crude oil tanker company operating a fleet of crude oil tankers in the VLCC and Aframax segments. We operate through our wholly owned management companies in Oslo, Norway and Singapore. For further information: www.dhtankers.com.