DHT Holdings to Dispose of Oldest VLCC

Image Courtesy: DHT Holdings

As part of its fleet renewal strategy, the crude oil tanker company DHT Holdings has reached an agreement to sell another very large crude carrier (VLCC) oldie, the 2001-built DHT Ann.

The company said that the 309,300 dwt vessel fetched a price of USD 24.8 million, slightly over its current market value of USD 22.5 million, VesselsValue data shows.

Featuring a length of 334 meters and a width of 58 meters, DHT Ann will be delivered to its new owners during the second quarter of 2017.

Upon delivery, the ship is expected to retire from the trading fleet, DHT Holdings said.

About USD 13 million of bank debt will be repaid in connection with the sale and the company will record a book loss of about USD 4 million in the first quarter 2017.

The sale was agreed only weeks after the shipping firm decided to sell its oldest VLCC, the 1999-built DHT Phoenix.

The 307,200 dwt vessel was bought by an undisclosed shipowner for a price of USD 19.1 million.

As its sister ship DHT Ann, DHT Phoenix is also set to join its new owners during the second quarter of the year.

Once both of these ships are handed over, DHT Holdings’ fleet will count some 20 tankers.

The company also has two 319,000 dwt VLCC newbuildings currently under construction at South Korean shipyard Hyundai Heavy Industries, both of which are scheduled to join the fleet in the second half of 2018, VesselsValue data shows.

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