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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

HHLA advances despite chaotic market

Port company Hamburger Hafen und Logistik has seen much progress this past half year despite ”major operational challenges” on a volatile market.

Borr Drilling seeks capital in the US

Tor Olav Trøim’s Borr Drilling searches for capital in the US and plans to issue shares on the New York Stock Exchange, a company statement reveals.

Further reading

Related articles

Latest news

See all jobs