DHT Sells 18-year-old VLCC for $19.1 Mln

Crude oil tanker owner and operator DHT Holdings, Inc. said it has entered into agreement to sell the 1999-built very large crude carrier (VLCC) DHT Phoenix for $19.1 million.

The 18-year-old tanker has just completed a “highly profitable” one year time charter at $45,000 per day to an Asian refining company, DHT said.

DHT did not identify the new owner in its press release announcing the sale, but said the tanker will be delivered during the second quarter and is expected to retire from the trading fleet.

The DHT Phoenix is debt free, and the entire net proceeds will be added to the company's cash balance. The company said it will record a book loss of about $3.5 million in the first quarter 2017 in connection with the sale.