DHT Holdings Inc
NYSE:DHT

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DHT Holdings Inc
NYSE:DHT
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Price: 12.75 USD -1.32%
Market Cap: 2B USD

DHT Holdings Inc
Investor Relations

In the vast, unpredictable seas of maritime commerce, DHT Holdings Inc. navigates as a formidable player in the world of crude oil shipping. Specializing in the operation and management of a fleet of Very Large Crude Carriers (VLCCs), DHT Holdings Inc. has carved a niche in transporting the world's essential dark gold. Incorporated in the Marshall Islands and headquartered in Bermuda, the company leverages its strategic global footprint to maximize operational efficiency and capitalize on emerging shipping routes. By primarily focusing on spot market charters, DHT maintains a dynamic position to adjust its fleet deployment according to fluctuating market conditions, thereby enhancing revenue potential in times of favorable freight rates.

DHT Holdings Inc.’s business model revolves around the interaction of global oil supply, demand shifts, and the cyclical nature of charter rates. The revenue streams come predominantly from chartering its VLCCs to oil companies, traders, and governments. Despite the challenges posed by geopolitical tensions and environmental regulations, DHT continuously invests in fleet modernization to improve fuel efficiency and compliance, thus maintaining an edge over competitors. The company's strategic investments in double hull technology and eco-design vessels underscore its commitment to sustainability, simultaneously aligning with global environmental standards and bolstering its market reputation. Through deft navigation of operational and market complexities, DHT Holdings Inc. remains a crucial conduit in the oil supply chain, bridging the gap between production sites and refineries worldwide.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 30, 2025
AI Summary
Q3 2025

Strong Q3 Results: DHT reported Q3 2025 TCE revenues of $79.1 million, adjusted EBITDA of $57.7 million, and net income of $44.8 million ($0.28 per share).

Dividend Continuity: The board approved a $0.18 per share dividend, marking the 63rd consecutive quarterly dividend, with 100% of ordinary net income paid out.

Robust Liquidity: Ended the quarter with $298 million in total liquidity, including $81.2 million in cash and low financial leverage at 12.4%.

Strong Spot Market: VLCC market strength is expected to positively impact late Q4 earnings, driven by firm demand and a shrinking, fragmented fleet.

Q4 Rate Outlook: 68% of Q4 spot days already booked at a high average rate of $64,900 per day; time charter days covered at $42,200 per day.

Fleet & Financing: New secured credit facilities signed for newbuildings and vessel acquisition, and major debt prepayments made to strengthen the balance sheet.

Market Dynamics: Management sees strong demand, limited fleet growth, and improving customer sentiment, supported by global oil production outlook.

Key Financials
TCE Revenue
$79.1 million
Adjusted EBITDA
$57.7 million
Net Income
$44.8 million
Net Profit (adjusted)
$29.5 million
Earnings Per Share
$0.28
Earnings Per Share (adjusted)
$0.18
Dividend Per Share
$0.18
Liquidity
$298 million
Cash
$81.2 million
Financial Leverage
12.4%
Net Debt per Vessel
just below $9 million per vessel
Vessel Operating Expenses
$18.4 million
G&A Expenses
$4.1 million
Spot TCE Rate
$38,700 per day
Time Charter TCE Rate
$42,800 per day
Average Combined TCE Rate
$40,500 per day
Cash Dividend Allocated
$38.6 million
Maintenance CapEx
$1.6 million
Investment in Newbuilding Program
$26.2 million
Deposit for DHT Nakota
$10.7 million
Proceeds from Vessel Sale
$51 million
Debt Prepayment
$22 million
Working Capital Changes & Other
$6.8 million
Cash at Quarter End
$81.2 million
Q4 2025 Time Charter Days Covered
901 days at $42,200 per day
Q4 2025 Spot Days Booked
68% of 1,070 spot days at $64,900 per day
Q4 2025 Spot P&L Breakeven
$15,200 per day
Accumulated Dividend Since Q3 2022
$2.93 per share
Earnings Call Recording
Other Earnings Calls

Management

Mr. Svein Moxnes Harfjeld
President & CEO
No Bio Available
Ms. Laila C. Halvorsen
Chief Financial Officer
No Bio Available
Mr. J. Stephen Eglin
Director of Chartering & Operations
No Bio Available
Mr. Svenn Magne Edvardsen
Technical Director
No Bio Available

Contacts

Address
Hamilton
Clarendon House, 2 Church Street
Contacts
+14412994912.0
www.dhtankers.com