Financial Data and Key Metrics Changes - The fourth quarter ended with total liquidity of $258 million, consisting of $78 million in cash and $180 million available under revolving credit facilities [7] - Revenues on a TCE basis for Q4 were $85.5 million, with EBITDA of $60.6 million and net income of $54.7 million, equating to $0.34 per share [8] - For the full year 2024, net income was $181.5 million, or $1.12 per share, adjusted for non-cash impairment charges [11] Business Line Data and Key Metrics Changes - Vessel operating expenses for Q4 were $20 million, while G&A expenses were $5.6 million, including a non-recurring item of $0.7 million [9] - The average TCE for all vessels in the spot market was $38,200 per day, with spot vessels under fifteen years achieving $40,500 per day [10] Market Data and Key Metrics Changes - The current spot market for modern vessels with exhaust gas cleaning systems is in the $55,000 to $60,000 range [32] - The estimated spot terminal breakeven for Q1 is $21,700 per day, indicating potential net income contribution from the spot fleet [25] Company Strategy and Development Direction - The company plans to allocate cash proceeds from the sale of the DHT Scandinavia to general corporate purposes, including investments in vessels, share buybacks, and debt prepayment [17] - The company has a capital allocation policy of paying out 100% of ordinary net income as quarterly cash dividends, marking the sixtieth consecutive quarterly cash dividend [20] Management's Comments on Operating Environment and Future Outlook - Management noted that the VLCC fleet is set to shrink while demand for services is growing, with an estimated 444 VLCCs to be older than fifteen years by the end of 2026 [26] - The company expects sanctions and tariffs to disrupt trade but believes VLCCs will be in high demand, particularly due to changes in procurement behavior in China [30] Other Important Information - The company repurchased 1.5 million shares in December at an average price of $8.89, which is expected to be accretive to earnings per share [16] - The company has secured a one-year time charter for DHT China at $40,000 per day, commencing at the end of January [19] Q&A Session Summary Question: Fleet development and derisking older vessels - Management indicated they might consider divesting older ships depending on time and price, with two ships on time charter continuing to operate [38][40] Question: Financing plan for new builds - The base case for debt financing new ships is $60 million per vessel, with potential adjustments based on negotiations [42] Question: Recent jump in VLCC spot rates - Management noted that the market is tight, driven by inventory changes and refining margins in China, with a potential tipping point in the market [52][56] Question: Capital allocation and buybacks - Management clarified that buybacks were based on available resources and not solely dependent on the sale of the DHT Scandinavia [59] Question: Impact of sanctions on rates - Management acknowledged that sentiment has been a primary driver, but changes in oil procurement behavior in China are also influencing demand [68] Question: Shadow fleet trading - Management stated that tracking the shadow fleet is difficult, but inefficiencies in this fleet could lead to increased demand for compliant vessels [72][74] Question: Future of older VLCCs - Management expressed skepticism about the commercial viability of VLCCs older than twenty-five years due to terminal acceptance issues [76] Question: Time charter market demand - Management noted that end users are increasingly looking to build up fleets as time charters expire, indicating real demand for fixed income opportunities [104]

2 Q4'24 Financials BALANCE SHEET HIGHLIGHTS February 6, 2025 DISCLAIMER Forward Looking Statements This presentation 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, in particular regarding dividends (including our dividend plans, timing and the amount and growth of any dividends), daily charter rates, vessel utilization, the ...

DHT Holdings (DHT) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 88.89%. A quarter ago, it was expected that this independent oil tanker company would post earnings of $0.21 per share when it actually produced earnings of $0.22, delivering a surprise of 4.76%.Over the last four quar ...

HAMILTON, BERMUDA, February 5, 2025 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announced its results for the quarter ended December 31, 2024. The full report is available here and in the below attachment. 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 integrated management companies in Monaco, Norway, Singapore, and India. You may recognize us by our ren ...

Core Viewpoint - DHT Holdings, Inc. is set to release its fourth quarter 2024 results on February 5, 2025, followed by a conference call on February 6, 2025, to discuss the results [1][2] Group 1: Financial Results Announcement - The fourth quarter 2024 results will be released after market close on February 5, 2025 [1] - A conference call and webcast will take place on February 6, 2025, at 8:00 a.m. EDT/14:00 CET to discuss the quarterly results [1] - Participants must register in advance to access the conference call, receiving dial-in numbers and a unique personal PIN upon registration [1] Group 2: Webcast and Recording - The webcast will include a slide presentation and can be accessed via a specific link or through the Investor Relations section of DHT's website [2] - A recording of the audio and slides will be available until February 13, 2025, at 14:00 CET [2] Group 3: Company Overview - DHT Holdings, Inc. is an independent crude oil tanker company operating internationally with a fleet in the VLCC segment [2] - The company emphasizes a prudent capital structure, market exposure, and a counter-cyclical investment philosophy [2] - DHT operates through integrated management companies located in Monaco, Norway, Singapore, and India, focusing on quality operations and customer service [2]

Share Repurchase - The company repurchased 1,481,383 of its own shares, equivalent to 0.9% of its outstanding shares, at an average price of $8.8899 during December 2024 [1] - The repurchased shares have been retired upon receipt [1] Company Overview - DHT Holdings, Inc is an independent crude oil tanker company operating internationally with a fleet in the VLCC segment [2] - The company operates through integrated management companies in Monaco, Norway, Singapore, and India [2] - DHT is known for its first-rate operations, customer service, quality ships, prudent capital structure, and transparent corporate governance [2] - The company employs a counter-cyclical philosophy in investments, fleet employment, and capital allocation [2] - DHT combines market exposure with fixed income contracts for its fleet [2]

For almost a decade, I held research analyst positions in various investment firms, mostly in Toronto. In the summer of 2021, I left the city and moved into a yurt I built in the boreal forest. I went from living in downtown Toronto to living alone in the woods approximately 100km away from the closest paved road or grocery store.Self-sufficiency does not exist, as I replaced my relationships with grocery stores and utility providers with natural ecosystems and, ultimately, with God. Knowing that I am able ...

HAMILTON, BERMUDA, December 12, 2024 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) has entered into agreement to sell the DHT Scandinavia, a 2006 built VLCC, for $43.4 million. The Company expects to deliver the vessel to its new owner in January 2025. The vessel has no outstanding bank debt and the sale proceeds will be allocated to general corporate purpose, hereunder investments in vessels, share buy-backs or prepayment of debt. The sale will reduce the average age of the Company’s fleet and i ...

Note: I have previously covered DHT Holdings (NYSE: DHT ) in September. In my previous article, I pointed out the company's strengths, such as its VLCC-only fleet, adequate liquidity, and robust capital structure. At the time of the publication DHT traded at 94% PNAVI am a voracious reader and self-taught investor. In the past, I was an accountant in the maritime industry. Now, I am a happy retiree passionate about writing and financial markets. As the kids are grown up, I have time to pursue my endeavors: ...

DHT Holdings, Inc. (NYSE:DHT) Q3 2024 Earnings Conference Call November 13, 2024 8:00 AM ET Company Participants Laila C. Halvorsen - CFO Svein Moxnes Harfjeld - President and CEO Conference Call Participants Frode Mørkedal - Clarkson Securities Jonathan Chappell - Evercore ISI Omar Nokta - Jefferies Operator Good day, and thank you for standing by. Welcome to the Q3 2024 DHT Holdings, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, ...