DHT Holdings appears to have committed to the next stage of its VLCC fleet renewal by selling its three oldest units for about $85m, reports suggest.
Brokers in the US and in Europe said the DSME-built 320,000-dwt sisterships DHT Condor, DHT Lake and DHT Raven (all built 2004) have been committed to an undisclosed buyer for $28.5m each.
Wilhelm Flinder, director of the US-listed tanker company, said it will not comment until any deal is done.
Earlier hints
The company hinted in early February that this trio could be for sale.
DHT generally does not operate VLCCs that are more than 20 years old. The DHT Condor, DHT Lake and DHT Raven are the oldest in DHT's 29 vessel fleet.
Observers question why DHT did not take the opportunity to sell its three oldest VLCCs last year when the freight market was hot.
However, despite the slump in freight rates since then, values for elderly VLCCs have maintained well this year. In February, Dynacom sold the 300,000-dwt Folegandros 1 (built 2004) for $28.8m to an undisclosed buyer and the tanker is now operating as the Berg 1.
Two other sales
By coincidence, this week another two 2004-built VLCCs have been reported sold.
Japan’s NYK Line has, according to European brokers, disposed of the 310,000-dwt Toba (built 2004) for $26m and Greek owner Eastern Mediterranean Maritime has offloaded the 299,000-dwt Santa Marina (built 2004) to a Middle Eastern owner for $29m.
All five VLCCs will be due for special survey in 2024.
In January, DHT bought the DSME-built, scrubber-fitted Eco Future and Eco Queen (both built 2016) from Awilco Eco Tankers for $68m each.
VesselsValue estimates the tankers are worth roughly the same today. They are now trading spot as the DHT Osprey and DHT Harrier.
