DHT trims vintage tonnage with twin VLCC sale
Supertanker specialist DHT Holdings has announced the sale of two of its oldest Very Large Crude Carriers (VLCCs), the DHT China and DHT Europe, for a total of $101.6 million. This strategic move is part of DHT’s ongoing effort to refresh its fleet amid stable asset values. The transaction is expected to close in the first quarter of 2026, marking a significant step in the company’s fleet management strategy.
The DHT China and DHT Europe, both built in 2007 at Hyundai, are among the oldest vessels in DHT’s fleet of 26 VLCCs. Following the sale, DHT anticipates generating approximately $95 million in net cash proceeds after settling around $5.6 million in outstanding debt related to the vessels. The company also expects to record gains of $30.4 million from the sale of the DHT China and $29.7 million from the DHT Europe.
Recent Fleet Disposals and Future Outlook
This sale follows earlier disposals in 2023, where DHT sold the 2011-built DHT Lotus and DHT Peony for a combined total of $103 million. These transactions have resulted in DHT maintaining a fleet composed entirely of Korean-built VLCCs. The company’s proactive approach to fleet management reflects its commitment to optimizing its assets and ensuring operational efficiency.
After the completion of this latest sale, the only remaining vessel from 2007 in DHT’s lineup will be the DHT Bauhinia, which has a deadweight tonnage of 301,000 and was built at Hanwha Ocean, formerly known as Daewoo Shipbuilding & Marine Engineering. This ongoing fleet renewal strategy positions DHT Holdings to remain competitive in the shipping industry, as it continues to adapt to market conditions and asset valuations.
DHT Holdings, listed on the New York Stock Exchange, is focused on maintaining a modern fleet that meets the demands of the global oil market. The sale of these older vessels not only enhances the company’s financial standing but also aligns with its long-term operational goals. As the shipping industry evolves, DHT’s strategic decisions will play a crucial role in its future success.
