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HAMILTON, BERMUDA - DHT Holdings, Inc. (NYSE:DHT), a shipping company with a market capitalization of $1.8 billion and strong financial health according to InvestingPro metrics, has secured a $308.4 million senior secured credit facility to finance four very large crude carrier (VLCC) newbuildings, the company announced Wednesday.
The vessels are currently under construction at South Korean shipyards Hyundai Samho Heavy Industries and Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) with deliveries scheduled for the first half of 2026.
The credit facility, co-arranged by ING Bank and Nordea Bank Abp, features a 12-year maturity period from each vessel’s delivery date with a 20-year repayment profile. The financing will bear interest at a rate of SOFR plus a weighted average margin of 1.32%.
"We are pleased to have secured this credit facility, which underscores the confidence our banking partners and K-Sure have in DHT and our long-term strategy," said President & CEO Svein Moxnes Harfjeld in the press release statement.
DHT Holdings operates a fleet of crude oil tankers in the VLCC segment, with management companies in Monaco, Norway, Singapore, and India. The company employs its fleet through a combination of market exposure and fixed income contracts.
The financing announcement comes as part of the company’s ongoing fleet renewal and expansion strategy. According to the company statement, the new vessels will enhance service offerings to customers once delivered.
In other recent news, DHT Holdings announced its estimated time charter equivalent earnings for the second quarter of 2025, reporting an average of $46,300 per day for its fleet. According to the company, their Very Large Crude Carriers (VLCCs) operating in the spot market earned about $48,700 per day. Meanwhile, vessels on time charter generated $42,800 per day. The quarterly results were calculated based on 2,003 revenue days, with 1,193 of those being spot market days. These figures provide investors with a detailed view of the company’s earnings across different market operations. The announcement was made through a company press release issued from Hamilton, Bermuda. These developments are part of the company’s ongoing financial performance updates.
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