DHT Holdings, Inc. announces sale of its oldest VLCC
March 07 2017 - 5:52AM
HAMILTON, BERMUDA, March 7, 2017 - DHT Holdings, Inc. (NYSE:DHT)
("DHT") announced that it has entered into agreement to sell the
DHT Phoenix, a 1999 built VLCC, for $19.1 million. The sale
is in accordance with the company's fleet renewal strategy.
The vessel has just completed a highly profitable one year time
charter at $45,000 per day to a leading Asian refining
company. The company will deliver the vessel to its new
owners during the second quarter and it is expected to retire from
the trading fleet. The vessel is debt free and the entire net
proceeds will be added to the company's cash balance. The
company will record a book loss of about $3.5 million in the first
quarter 2017 in connection with the sale.
DHT enjoys a strong position with its robust balance sheet,
modern high quality fleet, best-in-class cash break even levels and
attractive time charter contracts.
About DHT Holdings, Inc.
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.
Forward Looking Statements This press release contains
certain forward-looking statements and information relating to the
Company that are based on beliefs of the Company's management as
well as assumptions, expectations, projections, intentions and
beliefs about future events, in particular regarding dividends
(including our dividend plans, timing and the amount and growth of
any dividends), daily charter rates, vessel utilization, the future
number of newbuilding deliveries, oil prices and seasonal
fluctuations in vessel supply and demand. When used in this
document, words such as "believe," "intend," "anticipate,"
"estimate," "project," "forecast," "plan," "potential," "will,"
"may," "should" and "expect" and similar expressions are intended
to identify forward-looking statements but are not the exclusive
means of identifying such statements. These statements
reflect the Company's current views with respect to future events
and are based on assumptions and subject to risks and
uncertainties. Given these uncertainties, you should not
place undue reliance on these forward-looking statements.
These forward-looking statements represent the Company's
estimates and assumptions only as of the date of this press release
and are not intended to give any assurance as to future results.
For a detailed discussion of the risk factors that might
cause future results to differ, please refer to the Company's
Annual Report on Form 20-F, filed with the Securities and Exchange
Commission on March 21, 2016. The Company undertakes no obligation
to publicly update or revise any forward-looking statements
contained in this press release, whether as a result of new
information, future events or otherwise, except as required by law.
In light of these risks, uncertainties and assumptions, the
forward-looking events discussed in this press release might not
occur, and the Company's actual results could differ materially
from those anticipated in these forward-looking statements.
CONTACTS: Eirik Uboe CFO Phone: +47 41292712 E-mail:
eu@dhtankers.com
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