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New York-listed tanker big DHT Holdings has entered into agreements to construct 4 very giant crude carriers (VLCCs) in South Korea with supply anticipated between April and December 2026.
Two will probably be constructed at Hyundai Samho Heavy Industries whereas the opposite two will probably be constructed by Hanwha Ocean, each in South Korea. The typical value for the vessels is $128.5m. The contracts embody choices for a further 4 vessels that may be delivered throughout the first half of 2027.
The vessels will probably be constructed to new Tremendous Eco-design specs and have a carrying capability of about 320,000 dwt. The ships will probably be fitted with exhaust fuel cleansing programs, be Tier III compliant, and maintain class-ready notations for a number of fuels.
Based on DHT, it is not going to difficulty new capital and can finance the mission with money flows from operations, out there liquidity, and new mortgage debt.
“We have now secured very early and aggressive supply slots to construct essentially the most environment friendly ships and of the very best high quality the market has to supply,” stated Svein Moxnes Harfjeld, president and CEO of DHT.
The tanker agency, with a 24-vessel robust fleet, famous that the present orderbook with the provision of latest VLCCs equals lower than 3% of the present fleet and that supply slots for potential further VLCC orders can be found from 2027 onwards with competitors for slots coming from a number of different delivery segments.
The VLCC fleet can also be quickly getting older as near half of the fleet is projected to be older than 15 years by the top of 2026 whereas over 20% will probably be older than 20. DHT concluded by stating that round 160 VLCCs with a median age of 21 years can have restricted if any business alternatives within the compliant markets and trades.
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