DHT Holdings announces sale of DHT Edelweiss

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DHT Holdings announced that it has entered into agreement to sell the DHT Edelweiss, a 2008 built VLCC, for $37.0 million.

The vessel is not fitted with an Exhaust Gas Cleaning System and is due for its 3rd Special Survey and installation of a Ballast Water Treatment System in the first quarter of 2023.

The Company expects to deliver the vessel to its new owner during the third quarter.

The sale will reduce the average age of the Company’s fleet and improve its AER and EEOI metrics.

The vessel’s outstanding bank debt of about $12.2 million will be repaid in connection with the sale and the Company expects to record a gain of about $6.8 million in the third quarter of 2022.

Following the abovementioned sale and the recently announced retrofit program, 100% of the Company’s fleet will be fitted with Exhaust Gas Cleaning Systems by the first quarter of 2023.