Crude oil tanker company DHT Holdings has taken delivery of two more very large crude carriers (VLCCs) from BW Group, the DHT Opal and the DHT Raven.

Formerly named BW Opal and BW Lion, the VLCCs are the second and the third ships from a total of eleven vessels which were purchased from BW Group in March 2017.

The ships were built by South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) in 2012 and 2004, respectively. The 320,100 dwt DHT Opal was bought for a price of USD 64.2 million, while the 298,600 dwt DHT Raven fetched a price of USD 30.9 million, VesselsValue informs.

The remaining ships, six of which are in the water, are expected to join their new owner during the second quarter of the year. The two newbuildings from the batch are scheduled for delivery in June and August 2018, data provided by VesselsValue shows.

DHT Utik, the first of eleven VLCCs acquired from BW Group, joined its new owner just last week. Previously known as BW Utik, the ship was reportedly bought for USD 23.2 million. The 299,500 dwt tanker was built in 2001, also by DSME.

As a result of the acquisition, which has a total value of USD 538 million, DHT will have a fleet with an average age of 6.9 years, consisting of 30 VLCCs.

DHT Holdings earlier informed that the purchase would be financed by issuing some USD 256 million of capital stock, consisting of 32 million shares of common stock and 15,700 shares of preferred stock that are mandatorily convertible into 15.7 million shares of common stock subject to DHT shareholder approval.

DHT will also pay BW Group USD 177.36 million in cash and assume USD 104.16 million in remaining obligations with respect to the two newbuildings. The cash requirements associated with the purchase are expected to be financed with bank debt.