DHT Holdings secures $50m credit facility

US-listed tanker owner DHT Holdings has pledged two VLCCs to ABN Amro Bank to secure credit facility, the company said in a stock filing yesterday.

DHT Holdings entered into an agreement with ABN Amro, under which the bank will provide a $50m senior revolving credit facility. The company has pledged two VLCCs DHT Amazon and DHT Europe in the deal.

The company intends to use the fund for working capital purposes.

In an eventful week, DHT was the subject of a takeover from John Fredriksen’s Frontline. It also ordered a pair of VLCCs at South Korea’s Hyundai Heavy Industries for $167m in total. The vessels are scheduled for delivery in July and September next year.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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