Two used VLCCs for $68M apiece. This is enough for me to begin adding to increase a small core position by 50%. Although I do wonder if they jumped too soon, I like this better than ordering new vessels because it doesn't increase the size of the global fleet. Logical?
DHT Holdings, Inc. announces acquisition of two VLCCs
Today at 06:04 AM ET \ GlobeNewswire
DHT Holdings, Inc. announces acquisition of two VLCCs GlobeNewswireHAMILTON, BERMUDA, January 21, 2021 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announced that it has entered into agreement to acquire two VLCCs built in 2016 at DSME (Daewoo) for a total of USD 136 million. The vessels are scheduled to deliver during the first half 2021. The Company will finance the acquisition with available liquidity and projected mortgage debt hence it is expected to be accretive to DHT’s earnings per share. The vessels were built to high specifications by their current owner and are fuel efficient, scrubber fitted Eco-designs that will further improve the DHT fleet’s efficiencies, amongst others its Annual Efficiency Ratio (AER) and Energy Efficiency Operational Index (EEOI) metrics.
