DHT Holdings secures a $308.4 million credit facility for financing four new tankers, scheduled for delivery in 2026.
Quiver AI Summary
DHT Holdings, Inc. announced that it has secured a $308.4 million senior secured credit facility for the financing of four new crude oil tankers currently under construction in South Korea, set to be delivered in the first half of 2026. The facility, arranged by ING Bank and Nordea Bank Abp, features a competitive interest rate tied to SOFR and offers a 12-year maturity from each vessel's delivery date, with a 20-year repayment schedule. President & CEO Svein Moxnes Harfjeld expressed optimism about the financing arrangement, emphasizing its alignment with the company's growth strategy and financial stability, which will enhance DHT's fleet capabilities. The company operates internationally and focuses on quality service and operations within the crude oil tanker sector.
Potential Positives
- DHT Holdings has secured a significant $308.4 million senior secured credit facility, demonstrating financial strength and access to capital markets.
- The financing supports the post-delivery of four new vessels, indicating a commitment to fleet renewal and expansion, which can enhance competitive positioning.
- The facility features competitive terms with a low interest rate and an extended repayment profile, reflecting the company's robust financial foundation and effective capital management.
- The partnership with reputable banks like ING Bank and Nordea Bank underscores the confidence in DHT's long-term strategy and operational capabilities.
Potential Negatives
- Entering a $308.4 million credit facility indicates the company is taking on significant debt, which could raise concerns about its long-term financial stability and risk exposure.
- The reliance on forward-looking statements suggests uncertainty in the company's future performance, which may deter investors or stakeholders seeking more definitive assurances.
- The press release does not provide details on how the new vessels will contribute to profitability, leaving questions about the strategic value of this investment.
FAQ
What is the total amount of the credit facility DHT has secured?
DHT has secured a $308.4 million senior secured credit facility for post-delivery financing.
What is the purpose of the new credit facility?
The facility is intended for the post-delivery financing of DHT’s four newbuildings currently under construction.
When are the new vessels scheduled for delivery?
The new vessels are scheduled for delivery during the first half of 2026.
Who are the banks involved in co-arranging the credit facility?
ING Bank and Nordea Bank Abp are the banks co-arranging the credit facility for DHT.
What type of vessels are DHT's newbuildings?
The newbuildings are large size, state-of-the-art Very Large Crude Carriers (VLCCs).
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DHT Hedge Fund Activity
We have seen 130 institutional investors add shares of $DHT stock to their portfolio, and 104 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ENCOMPASS CAPITAL ADVISORS LLC added 1,899,975 shares (+inf%) to their portfolio in Q1 2025, for an estimated $19,949,737
- DME CAPITAL MANAGEMENT, LP added 1,364,950 shares (+26.0%) to their portfolio in Q1 2025, for an estimated $14,331,975
- M&G PLC removed 1,220,973 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $12,820,216
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 1,018,791 shares (+137.0%) to their portfolio in Q1 2025, for an estimated $10,697,305
- TWO SIGMA ADVISERS, LP removed 816,000 shares (-45.8%) from their portfolio in Q1 2025, for an estimated $8,568,000
- WASATCH ADVISORS LP removed 779,809 shares (-15.4%) from their portfolio in Q1 2025, for an estimated $8,187,994
- TWO SIGMA INVESTMENTS, LP removed 702,830 shares (-63.1%) from their portfolio in Q1 2025, for an estimated $7,379,715
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$DHT Analyst Ratings
Wall Street analysts have issued reports on $DHT in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Jefferies issued a "Buy" rating on 05/07/2025
- Evercore ISI Group issued a "Outperform" rating on 04/22/2025
To track analyst ratings and price targets for $DHT, check out Quiver Quantitative's $DHT forecast page.
$DHT Price Targets
Multiple analysts have issued price targets for $DHT recently. We have seen 2 analysts offer price targets for $DHT in the last 6 months, with a median target of $14.0.
Here are some recent targets:
- Omar Nokta from Jefferies set a target price of $15.0 on 05/07/2025
- Jonathan Chappell from Evercore ISI Group set a target price of $13.0 on 04/22/2025
Full Release
HAMILTON, BERMUDA, July 30, 2025 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announces that it has entered into a $308.4 million senior secured credit facility for the post-delivery financing of the Company’s four newbuildings. The vessels are currently under construction at Hyundai Samho Heavy Industries and Hanwha Ocean (formerly known as Daewoo Shipbuilding & Marine Engineering), in South Korea, and are scheduled for delivery during the first half of 2026.
The facility is co-arranged by ING Bank and Nordea Bank Abp, with ING Bank as Coordinator, Facility Agent, Security Agent and ECA Agent. The facility bears interest at a rate equal to SOFR plus a weighted average margin of 1.32%. The maturity date of the facility in relation to each vessel is 12 years from the delivery date with a 20-year repayment profile. Other terms and conditions are broadly in line with DHT’s current credit facilities.
President & CEO, Svein Moxnes Harfjeld, stated: “We are pleased to have secured this credit facility, which underscores the confidence our banking partners and K-Sure have in DHT and our long-term strategy. This agreement represents a competitive margin in combination with an extended tenor and aligns with our robust financial foundation while advancing our fleet renewal and expansion. We look forward to the delivery of these large size, state-of-the art VLCCs, which will enhance the service offering to our customers.”
About DHT Holdings, Inc.
DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our wholly owned management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our fleet employment with a combination of market exposure and fixed income contracts; our disciplined capital allocation strategy through cash dividends, investments in vessels, debt prepayments and share buybacks; and our transparent corporate structure maintaining a high level of integrity and corporate governance. For further information please visit
www.dhtankers.com
.
Forward Looking Statements
This press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company’s management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as “believe,” “intend,” “anticipate,” “estimate,” “project,” “forecast,” “plan,” “potential,” “will,” “may,” “should” and “expect” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company’s current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company’s estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company’s Annual Report on Form 20-F, filed with the SEC on March 20, 2025.
The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company’s actual results could differ materially from those anticipated in these forward-looking statements.
Contact:
Laila C. Halvorsen, CFO
Phone: +1 441 295 1422 and +47 984 39 935
E-mail: [email protected]