Singapore’s BW Group has decided to put up for sale some 7.48m shares of New York-listed tanker giant DHT Holdings and further decrease its stake in the company.
DHT said in a US Securities and Exchange Commission filing that BW listed over 7.48m shares of the company for sale. According to the filing, the shares put up for sale are equal to a 4.65% stake and have a value of around $82.9m.
The tanker firm bought 11 VLCCs – nine existing and two newbuilds – from BW Group in 2017. To finance the acquisition, DHT issued approximately $256m of DHT capital stock and upon delivery, it made BW Group an owner of approximately 33.5% of the company’s outstanding share capital. BW Group has slowly been decreasing this stake from 33.5% in 2017 to 15.8% today.
In a recent development, DHT entered into agreements to build four VLCCs in South Korea with delivery expected between April and December 2026.
Two will be constructed at Hyundai Samho Heavy Industries while the other two will be built by Hanwha Ocean, both in South Korea. The average price for the vessels is $128.5m. The contracts include options for an additional four vessels that can be delivered during the first half of 2027.
