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Expansive VLCC carrier back in black

Oslo-based DHT Holdings, which has in recent years significantly expanded its fleet of VLCCs, finished 2014 in the black and now operates a fleet of 20 supertankers.

Photo: DHT

DHT Holdings has now left the third quarter 2014 deficit behind as the carrier achieved a net profit of USD 28.5 million in the fourth quarter, compared to USD 11.5 million in the same quarter 2013. The company, which operates out of Oslo, secured a USD 12.9 million profit for the full-year, compared to a deficit of USD 4.1 million in 2013, according to the annual report.

This result includes a USD 31.9 million impairment, notes the carrier. The improvement from 2013 to last year is attributed to, among other factors, a higher number of vessels in the carrier's fleet, including seven VLCCs from a transaction with Singapore-based Samco Shipholding that DHT Holdings completed in September last year, while an improved market also contributed to the development.

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