New York-listed tanker owner DHT Holdings has announced that co-CEOs Svein Moxnes Harfjeld and Trygve Munthe have relocated to Singapore from Oslo.
The company says the relocation is due to changes in the tax law in Norway for tax residency of companies formed outside of Norway.
DHT’s office in Singapore will house senior management, chartering, operations, newbuilding supervision and technical management while their office in Norway will retain finance, accounting, investor relations, chartering and operations functions.
Andreas Sohmen-Pao’s BW Group, which holds a stake of around 33.5% in DHT after selling the company 11 VLCCs in 2017, is also headquartered in Singapore.
