DHT completes delivery of BW’s VLCCs

DHT completes delivery of BW’s VLCCs

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.”

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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