DHT Holdings secures $50m credit facility

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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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