DHT Holdings, Inc. has secured a one‑year time‑charter for its 2012‑built very large crude carrier (VLCC) DHT Opal, beginning in February 2026. The agreement locks in a daily charter rate of $90,000, generating $32.8 million in revenue over the 365‑day term.
The rate reflects the current tightness in the VLCC market. Spot earnings for comparable vessels are around $137,500 per day, while the DHT Opal’s break‑even cost is approximately $18,300 per day. The charter therefore provides a premium over operating costs and a stable income stream in a market where spot rates are high but volatile.
This charter fits into DHT’s broader fleet strategy, which includes selling older ships and taking delivery of new VLCCs. By securing a fixed‑rate contract for a 14‑year‑old vessel, DHT balances market exposure with predictable cash flow, supporting its modernization plan and reducing fleet‑age risk.
The charter comes on the heels of a strong Q4 2025 earnings report. DHT reported earnings per share of $0.41 versus analyst expectations of $0.38, and revenue of $117.8 million versus $116.96 million expected. The company also raised its quarterly dividend to $0.41 per share, reinforcing investor confidence. The new charter adds further revenue certainty to an already healthy margin profile.
Investors reacted positively to the announcement, citing the earnings beat, the secured charter, and the dividend increase as key factors. The charter strengthens DHT’s outlook and supports its guidance, signaling confidence in the tight VLCC market and the company’s execution strategy.
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