DHT Holdings, Inc. Announces New VLCC Construction and $250 Million Revolving Credit Facility

DHT Holdings, Inc. has announced two significant developments. Firstly, the company has entered into an agreement with Hanwha Ocean Co., Ltd. for the construction of a new Very Large Crude Carrier (VLCC), scheduled for delivery in August 2028. This vessel will be a sister ship to two recently delivered vessels and will feature high specifications with advanced fuel economics and reduced emissions. The financing for this newbuilding will come from operational cash flow, available liquidity, and projected mortgage debt, aligning with DHT's disciplined capital allocation strategy. Secondly, DHT Holdings has secured a new $250 million reducing revolving credit facility with a seven-year tenor, maturing in June 2033. This facility bears interest at SOFR plus a 135 basis points margin and includes a $250 million uncommitted accordion. Arranged by Nordea Bank Abp, the facility enhances DHT's financial flexibility, extends its debt maturity profile, and optimizes its capital structure, with availability for general corporate purposes, including refinancing existing debt. Both announcements underscore the company's commitment to fleet quality, operational efficiency, and robust financial management.