Bermuda-based tanker owner DHT Holdings reported a profit after tax of $270.9 million for the third quarter of 2026 on Monday, November 9. That compares with $44.8 million a year earlier and $198.3 million in the second quarter.
Shipping revenues rose to $332.1 million from $107.2 million in the third quarter of 2025, and adjusted EBITDA reached $269.5 million. Ordinary net income was $234.5 million. That figure excludes a $34.2 million gain on the sale of DHT Bauhinia and a $2.2 million non-cash gain on interest rate derivatives.
The company's very large crude carriers (VLCC) achieved average combined time charter equivalent earnings of $141,300 per day. Spot vessels earned $167,100 per day and time-chartered vessels $114,200.
DHT said it had booked 68 per cent of available fourth-quarter spot days at an average of $579,900 per day on a discharge-to-discharge basis. Including time charter days, 86 per cent of available VLCC days were booked at $267,500 per day.
The board declared a dividend of $1.45 per share, payable on November 30 to shareholders of record on November 23. The payout is in line with the company's policy of distributing 100 per cent of ordinary net income.
During the quarter, DHT fixed DHT Jaguar and DHT Panther on three-year time charters at $75,000 and $100,000 per day, respectively. It also took delivery of DHT Impala from Hyundai Samho Heavy Industries in July, completing a four-vessel newbuilding series.
In November, DHT ordered a further VLCC from Hanwha Ocean for delivery in April 2029. The vessel will be a sister to the two VLCCs Hanwha delivered earlier this year and to the newbuilding ordered in June for August 2028 delivery.
DHT attributed the strong market to logistical disruptions and to shifting crude procurement patterns that have lengthened transport distances. At September 30, the company operated 23 VLCCs totalling 7,183,236 DWT.