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Ridgebury named as buyer of DHT suezmax

Ridgebury Tankers has been named by brokers as the buyer of a suezmax sold by NYSE-listed DHT Holdings.

The Korea-built DHT Target (164,600 dwt, built 2001) was reported sold earlier this week for $22.5m, which incurred an $8.1m impairment charge for the seller, according to DHT’s Q1 2015 financial results.

DHT said the divestment was part of its fleet renewal programme. The sale was agreed in April and the vessel is due to be delivered to the buyer this month.

In October last year, Splash broke the news Ridgebury Tankers had put its fleet of seven suezmaxes, six MR product tankers and two aframaxes up for sale, keeping only its four VLCCs, but so far the Connecticut-based shipping company has yet to find a buyer for the vessels.

Its acquisition of the DHT Target could indicate Ridgebury has had a change of heart about smaller tankers. Splash has contacted Ridgebury for comment.

DHT said it will use the sale’s net proceeds to repay debt under its RBS loan facility, which had a balance of $22.3m in long-term debt as of March 31.

 

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Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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