DHT Tankers has agreed to sell the Suezmax crude carrier 'Target' for US$22.5 million.
The 'Target', a 164,626DWT, 274-metre long carrier built in 2001, will be delivered to the buyer in May 2016.
The sale is said to be in support of the company's fleet renewal program. On November 25, 2015, January 4, 2016 and March 15, 2016, the company took delivery of the first three of six VLCC newbuildings from Hyundai Heavy Industries (HHI).
The vessels are named DHT 'Jaguar', 'Leopard' and 'Lion' and are trading in the spot market. In total, the company has received three VLCC newbuildings since November 2015.
The remaining three newbuildings will be delivered from July to October 2016. The newbuildings are all fully funded and are expected to contribute significantly to the company's earnings power.
Once the newbuilds are delivered, DHT's fleet will consist of 20 VLCCs and two Aframaxes.