DHT Holdings, Inc. announces sale of its three oldest VLCCs
November 24 2017 - 5:28AM
HAMILTON, BERMUDA, November 23, 2017 - DHT Holdings, Inc.
(NYSE:DHT) ("DHT") announced that it has entered into agreement to
sell its three oldest VLCCs; DHT Utah and DHT Utik, both built
2001 and DHT Eagle built 2002 to one buyer for a total price of
$66.5 million. About $33.5 million of bank debt will be repaid in
connection with the sale of the three vessels. The Company
expects to deliver the DHT Utah and DHT Eagle to its new owner
before end of 2017 and the DHT Utik in January 2018. The
Company will record a book loss of about $3.5 million in the fourth
quarter of 2017 in connection with the sale. The loss is
primarily related to the DHT Eagle. Subsequent to the sale,
the average age of DHT's fleet of VLCCs is 6.1 years.
The sale is in accordance with the company's fleet renewal
strategy. DHT enjoys a strong position with its robust balance
sheet, high quality fleet, best-in-class cash break-even
levels, competitive cost structure and attractive time charter
contracts.
ABOUT DHT HOLDINGS, INC. DHT is an independent crude oil
tanker company. Our fleet trades internationally and consists of
crude oil tankers in the VLCC and Aframax segments. We operate
through our integrated management companies in Oslo, Norway and
Singapore. You shall recognize us by our business approach with an
experienced organization with focus on first rate operations and
customer service, quality ships built at quality shipyards, prudent
capital structure with robust cash break even levels to accommodate
staying power through the business cycles, a combination of market
exposure and fixed income contracts for our fleet and a transparent
corporate structure maintaining a high level of integrity and good
governance. 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 23, 2017. 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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