DHT Holdings announces sale of its oldest VLCC
DHT Holdings, Inc. has entered into agreement to sell the DHT Ann, a 2001 built VLCC, for $24.8 million. The sale is in accordance with the company's fleet renewal strategy. The company will deliver the vessel to its new owners during the second quarter and it is expected to retire from the trading fleet. About $13.0 million of bank debt will be repaid in connection with the sale and the company will record a book loss of about $4.0 million in the first quarter 2017.
DHT enjoys a strong position with its robust balance sheet, modern high quality fleet, best-in-class cash break-even levels and attractive time charter contracts.
About DHT Holdings, Inc.
DHT is an independent crude oil tanker company operating a fleet of crude oil tankers in the VLCC and Aframax segments. DHT Holdings operates through its wholly owned management companies in Oslo, Norway and Singapore.