Splash 247

DHT secures financing for VLCC pair

DHT secures financing for VLCC pair

Array
(
    [0] => WP_Term Object
        (
            [term_id] => 70
            [name] => Europe
            [slug] => europe
            [term_group] => 0
            [term_taxonomy_id] => 70
            [taxonomy] => category
            [description] => Stay updated on what's going on in Europe by browsing the European region news archive. Find the latest maritime and shipping news on Splash 24/7.

Find here the updated list of the latest news about the European region. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 55
            [count] => 4213
            [filter] => raw
            [cat_ID] => 70
            [category_count] => 4213
            [category_description] => Stay updated on what's going on in Europe by browsing the European region news archive. Find the latest maritime and shipping news on Splash 24/7.

Find here the updated list of the latest news about the European region. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Europe
            [category_nicename] => europe
            [category_parent] => 55
        )

    [1] => WP_Term Object
        (
            [term_id] => 65
            [name] => Finance and Insurance
            [slug] => finance-and-insurance
            [term_group] => 0
            [term_taxonomy_id] => 65
            [taxonomy] => category
            [description] => This is the Splash 24/7 archive of maritime finance and insurance news coming from all over the world. News are sorted by release date, from the latest to the oldest.

Get the updated list of the latest news about finance and insurance. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 54
            [count] => 1043
            [filter] => raw
            [cat_ID] => 65
            [category_count] => 1043
            [category_description] => This is the Splash 24/7 archive of maritime finance and insurance news coming from all over the world. News are sorted by release date, from the latest to the oldest.

Get the updated list of the latest news about finance and insurance. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Finance and Insurance
            [category_nicename] => finance-and-insurance
            [category_parent] => 54
        )

    [2] => WP_Term Object
        (
            [term_id] => 58
            [name] => Tankers
            [slug] => tankers
            [term_group] => 0
            [term_taxonomy_id] => 58
            [taxonomy] => category
            [description] => Stay updated on what's going on in the shipping and tankers sector by browsing the tankers news archive. Find the latest maritime and shipping news on Splash 24/7.

Find here the updated list of the latest news about tankers. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 54
            [count] => 1262
            [filter] => raw
            [cat_ID] => 58
            [category_count] => 1262
            [category_description] => Stay updated on what's going on in the shipping and tankers sector by browsing the tankers news archive. Find the latest maritime and shipping news on Splash 24/7.

Find here the updated list of the latest news about tankers. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Tankers
            [category_nicename] => tankers
            [category_parent] => 54
        )

)

DHT Holdings has secured bank financing for two 318,000 dwt VLCCs newbuildings ordered last month at South Korea’s Hyundai Heavy Industries for $167m.

The financing, which has a five year tenor, will fund around 50% of the acquisition with the remainder to come from the company’s cash on hand.

Scheduled for delivery in July and September 2018, DHT says that each vessel will have a break-even level of $16,800 per day to cover OPEX, interest and debt repayments.

DHT is the subject of an aggressive takeover from John Fredriksen’s Frontline. Yesterday, it rejected a revised takeover offer branding it “wholly inadequate” and likely putting an end to the acquisition battle, despite Frontline owning a 16% stake in the company.

Share this article

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Related Posts