DHT Holdings has posted its financial results for quarter ended June 30, 2026, which the company said was the strongest quarter in its history.
DHT Holdings posted shipping revenues of US$284.8 million in Q2 2026, an increase from US$127.9 million in Q2 2025. Adjusted gross operating profit for the quarter totalled US$231 million, compared to US$69 million for the same period last year.
The company's net income in Q2 2026 reached US$198.3 million, a more than three-fold increase from US$56 million in Q2 2025.
In the second quarter of 2026, DHT Holdings achieved average combined time charter equivalent earnings of US$126,700 per day, comprised of US$162,600 per day for the company’s very large crude carriers (VLCCs) operating in the spot market and US$90,800 per day for the company’s VLCCs on time charter.
Also for Q2 2026, the company declared a cash dividend of US$1.22 per share of outstanding common stock, payable on August 24, 2026, to shareholders of record as of August 17, 2026. This marks the 66th consecutive quarterly cash dividend and is in line with the company’s capital allocation policy to pay out 100 per cent of ordinary net income.
The shares will trade ex-dividend from August 17, 2026.
DHT Holdings said hostilities in the Middle East are forcing longer trade routes, increasing ton-mile demand and reducing overall fleet efficiency. While most shipowners avoid high-risk zones, those venturing into the Persian Gulf are earning substantial risk premiums.
The company added that China has temporarily suppressed oil price spikes by drawing down its strategic and commercial crude oil stockpiles and reducing refined product export quotas. Once these inventory draws reverses, China’s crude oil transportation demand is expected to rebound sharply.
DHT Holdings' shipping revenues for the first half of 2026 reached US$471.1 million compared to US$246.1 million in H1 2025. The company said the increase from the 2025 period to the 2026 period includes US$229.5 million attributable to higher revenue per day, partially offset by US$4.5 million attributable to a decrease in total revenue days.
DHT Holdings' net profit for H1 2026 totalled US$362.9 million, compared to US$100.1 million for H1 2025. The company said the increase was primarily attributable to a US$261.7 million increase in operating income, reflecting stronger operating performance during the period, as well as a US$1.2 million decrease in net financial expenses.
