New York-listed supertanker specialist DHT is selling its oldest ship for $43.4m.
The Svein Moxnes Harfjeld-led VLCC owner said it had struck a deal with an undisclosed buyer for the 2006-built DHT Scandinavia.
Delivery of the Hyundai-built unit is expected in January 2025. DHT said the ship is debt-free and expects to use the sale proceeds for general corporate purposes, vessel investments, share buybacks, or prepayment of debt.
DHT’s fleet currently stands at 24 ships with an average age of eight years, excluding four newbuildings set to deliver in 2026.
“The sale will reduce the average age of the company’s fleet and improve its AER, EEOI and CII metrics,” DHT said in a release.
Following the sale, the company’s oldest ships will be three 2007 South Korean-built VLCCs.