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DHT(DHT) - 2023 Q1 - Earnings Call Transcript
2023-05-04 16:21
IÂ'd say liquidity in sort of term business is thinner now than it was, say, in the fall and that in the winter, but very few things got executed and the bid-ask spread was quite significant during the first quarter hence basically nothing got out. Jonathan Chappell China is, for sure, reopening, and weÂ've seen the latest numbers that refinery runs are higher than what they were on prior months and prior quarters. But we do think that these runs are primarily tuned to increase in domestic consumption. Grea ...
DHT(DHT) - 2022 Q4 - Annual Report
2023-03-22 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...
DHT(DHT) - 2022 Q4 - Annual Report
2023-03-22 16:00
[Report of Foreign Private Issuer (Form 6-K)](index=1&type=section&id=Form%206-K%20Report%20of%20Foreign%20Private%20Issuer) [Filing Information](index=1&type=section&id=Filing%20Information) DHT Holdings, Inc., a foreign private issuer, filed this Form 6-K report for the month of March 2023, with annual reports filed under Form 20-F - **Company**: DHT Holdings, Inc.[1](index=1&type=chunk) - **Filing Type**: Form 6-K for March 2023[1](index=1&type=chunk) - The registrant files annual reports under Form 20-F[2](index=2&type=chunk) [Press Release and Exhibit](index=2&type=section&id=Press%20Release%20and%20Exhibit) The report includes a press release, filed as Exhibit 99.1, dated March 23, 2023, announcing the availability of the company's Annual Report on Form 20-F for the fiscal year ended December 31, 2022 - A press release issued on **March 23, 2023**, announces the availability of the Annual Report on Form 20-F for the fiscal year ended **December 31, 2022**[3](index=3&type=chunk) Exhibit Details | Exhibit | Description | | --- | --- | | 99.1 | Press Release dated March 23, 2023 | [Signatures](index=4&type=section&id=Signatures) The report was signed on March 23, 2023, by Laila C. Halvorsen, the Chief Financial Officer of DHT Holdings, Inc - The report is signed by **Laila C. Halvorsen**, Chief Financial Officer, on behalf of DHT Holdings, Inc.[6](index=6&type=chunk) - **Date of Signature**: March 23, 2023[6](index=6&type=chunk)
DHT(DHT) - 2022 Q4 - Earnings Call Transcript
2023-02-14 14:25
Financial Data and Key Metrics Changes - In Q4 2022, the average TCE (Time Charter Equivalent) was $56,900 per day, with vessels in the spot market earning $63,800 per day and those on time charter earning $36,100 per day [3] - The net income for the full year was $62 million, equating to $0.37 per share, while Q4 net income was $61.8 million, or $0.38 per share [3][11] - EBITDA for Q4 was reported at $95.4 million, with operating expenses (OpEx) for the year totaling $73.8 million, averaging $8,250 per day for the fleet [3][11] Business Line Data and Key Metrics Changes - The company expects a P&L breakeven for the fleet of approximately $27,200 per day for 2023, with cash breakeven estimated at $18,100 per day [7] - The company has completed 2 retrofits of exhaust gas cleaning systems and has plans for the remaining vessels, indicating a focus on environmental compliance and operational efficiency [16] Market Data and Key Metrics Changes - The reopening of China is expected to drive demand for crude oil, with significant import quotas suggesting increased refinery runs [8] - The VLCC (Very Large Crude Carrier) order book is at 2.2% of the sailing fleet, with a growing number of older vessels, indicating potential supply constraints in the future [17] Company Strategy and Development Direction - The company aims to maintain a strong balance sheet and has adopted a new dividend policy to distribute 100% of net income to shareholders, reflecting confidence in its financial stability [6][14] - The management emphasizes a disciplined approach to business execution, focusing on delivering reliable services and strong results for shareholders [38] Management's Comments on Operating Environment and Future Outlook - Management noted favorable market fundamentals and expects continued strong earnings from the tanker sector, driven by geopolitical disruptions and limited new supply of vessels [8] - The company anticipates that the current disruptions in the market will not resolve quickly, suggesting a prolonged period of favorable conditions for VLCCs [21] Other Important Information - The company ended the quarter with $126 million in cash and $234 million available under revolving credit facilities, indicating strong liquidity [31] - The company has a strategy to build fixed income gradually, responding to increasing demand for term contracts while ensuring the right conditions for investments [52] Q&A Session Summary Question: What is the company's leverage position and willingness to increase debt for investments? - The company has built a strong balance sheet to maintain investment capacity when the timing is right, focusing on organic growth without relying on external capital [39] Question: How does the company view its older vessels in the current market? - Management believes the older vessels are high-quality assets that continue to generate good earnings and are not candidates for divestment at this time [41] Question: What is the company's stance on fleet expansion and modernization? - The company is cautious about current asset prices and does not see an immediate need for expansion, preferring to wait for more favorable conditions [43] Question: How does the company perceive the shadow fleet and its implications? - Management acknowledges the existence of a shadow fleet and its potential impact on the market, emphasizing the need for regulatory oversight [63][64] Question: Will the company consider changing its dividend policy? - Any changes to the dividend policy would be contingent on significant strategic shifts or market conditions, with prior notice to shareholders [76]
DHT(DHT) - 2022 Q3 - Earnings Call Transcript
2022-11-08 16:57
DHT Holdings, Inc. (NYSE:DHT) Q3 2022 Results Conference Call November 8, 2022 8:00 AM ET Company Participants Laila Halvorsen - Chief Financial Officer Svein Moxnes Harfjeld - President & Chief Executive Officer Conference Call Participants Frode Morkedal - Clarksons Jonathan Chappell - Evercore ISI Macalla Rogers - Stifel Omar Nokta - Jefferies Chris Tsung - Webber Research Anders Karlsen - Kepler Cheuvreux Operator Good day, and thank you for standing by. Welcome to the Q3 2022 DHT Holdings Inc. Earnings ...
DHT(DHT) - 2022 Q1 - Earnings Call Transcript
2022-05-10 15:46
DHT Holdings, Inc. (NYSE:DHT) Q1 2022 Earnings Conference Call May 10, 2022 8:00 AM ET Company Participants Laila Halvorsen - CFO Svein Moxnes Harfjeld - President and CEO Conference Call Participants Jon Chappell - Evercore ISI Chris Robertson - Jefferies Frode Morkeda - Clarksons Securities Chris Tsung - Webber Research Operator Good day and thank you for standing by. Welcome to the DHT HoldingÂ's Q1 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers ...
DHT(DHT) - 2021 Q4 - Annual Report
2022-03-24 16:00
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of March 2022 Commission File Number 001-32640 DHT HOLDINGS, INC. (Exact name of Registrant as specified in its charter) Clarendon House 2 Church Street, Hamilton HM 11 Bermuda (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F ...
DHT(DHT) - 2021 Q4 - Annual Report
2022-03-24 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...
DHT(DHT) - 2021 Q4 - Earnings Call Transcript
2022-02-08 15:04
DHT Holdings, Inc. (NYSE:DHT) Q4 2021 Earnings Conference Call February 8, 2022 8:00 AM ET Company Participants Svein Moxnes Harfjeld – Co-Chief Executive Officer Trygve P. Munthe – Co-Chief Executive Officer Laila Halvorsen – Chief Financial Officer Conference Call Participants Randy Giveans – Jefferies Chris Tsung – Webber Research Omar Nokta – Clarksons Platou Magnus Fyhr – HC Wainwright Magnus Fyhr – H.C. Wainwright Jon Chappell – Evercore Robert Silvera – Silvera Climent Molins - Value Investor's Edge ...
DHT(DHT) - 2021 Q3 - Earnings Call Transcript
2021-11-03 18:42
DHT Holdings, Inc. (NYSE:DHT) Q3 2021 Results Conference Call November 3, 2021 9:00 AM ET Company Participants Svein Moxnes Harfjeld - Co-CEO Laila Halvorsen - CFO Wilhelm Flinder - Head, IR Conference Call Participants Randy Giveans - Jefferies Jon Chappell - Evercore ISI Omar Nokta - Clarksons Securities Magnus Fyhr - H.C. Wainwright Ben Nolan - Stifel Robert Silvera - Marine Surveyors Chris Tsung - Webber Research Good day and thank you for standing by. Welcome to the Third Quarter 2021 DHT Holdings Earn ...