DHT Holdings reported a net loss of USD 7.5 million in the fourth quarter of 2017, against a net income of USD 17.8 million seen a year earlier.
Shipping revenues for the quarter were at USD 92.2 million compared to USD 84.9 million reported in the same three-month period in 2016. The change was due to an increase in the fleet partly offset by lower tanker rates.
For the full year, the company’s net income reached USD 6.6 million. Inclusive of non-cash impairment charges of USD 84.7 million, the company had a net income for 2016 of USD 9.3 million. The difference between the two periods reflects lower freight rates and the impairment charges partly offset by a larger fleet.
DHT Holdings’ shipping revenues for 2017 decreased to USD 355.1 million from USD 356 million in 2016, mainly due to lower tanker rates.