DHT Holdings has completed the delivery of the nine VLCCs acquired from the BW Group and the contracts for the two newbuildings due for delivery in 2018 have been transferred to DHT. DHT now has a fleet of 30 VLCCs, 26 in the water and four under construction scheduled for delivery in 2018, as well as two aframaxes. The total dwt of the fleet is 9,498,752.
Senior management commented in a release: “Our fleet has expanded by about 50% at what we think is an opportune time in the cycle. The transaction will deliver cost synergies by lowering G&A expenses per ship and is projected to be accretive to DHT’s earnings. Importantly, it will further improve our already competitive cash break even levels.”