Strong Financial Performance
DHT Holdings reported a third-quarter revenue on a TCE basis of $79.1 million, with an adjusted EBITDA of $57.7 million and a net income of $44.8 million, equal to $0.28 per share.
Robust Balance Sheet
The company ended the quarter with total liquidity of $298 million, a financial leverage of 12.4%, and net debt just below $9 million per vessel, which is well below estimated residual ship values.
Strategic Capital Allocation
A dividend of $0.18 per share was approved for the third quarter, marking the 63rd consecutive quarterly cash dividend. The company remains committed to its capital allocation policy.
New Credit Facilities
DHT entered into a $308.4 million secured credit facility for newbuilding finance and a $64 million credit facility for vessel acquisition, maintaining competitive financing terms.
Positive Market Outlook
The VLCC market is showing significant strength, driven by increased demand for seaborne transportation of crude oil and geopolitical factors contributing to market dynamics.