DHT hits 52-week high as VLCC bookings show stronger rates

what happened

DHT Holdings gained 5.4% in Monday trading, reaching a new 52-week intraday high of $26.47. Seeking Alpha reported that roughly half of the available spot days in the fourth quarter had so far been booked at an average $509,100 per day on a discharge-to-discharge basis. An estimated 78% of available revenue days, covering both spot and time-charter days, carried an average rate of $225,200 per day.

DHT expects its fleet to generate third-quarter time charter equivalent earnings of $141,300 per day. The estimate consists of $167,100 per day for its Very Large Crude Carriers trading on the spot market and $114,200 per day for VLCCs on time charter. The calculation covers 2,055 revenue days, including 1,054 spot days, the company said.

DHT has repeatedly highlighted elevated rates in the record-breaking VLCC market. Most recently, its 321K-dwt DHT Antelope, built in 2025, secured a fixture at $1.162 million per day for a voyage from the Gulf of Oman to South Korea.

why it matters

The reported bookings underscore the strength of crude tanker freight markets and give investors a view of the revenue environment affecting DHT Holdings.

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