DHT Holdings provides business update

DHT Holdings (DHT) provided a business update. For Q1, the company estimates time charter equivalent earnings for its fleet at $78,800 per day, comprising $91,700 per day for the company’s VLCCs operating in the spot market and $61,300 per day for the company’s VLCCs on time charter. These estimated TCE earnings are based on 1,994 revenue days during the quarter, of which 1,152 days were spot days. The estimated TCE earnings on a discharge-to-discharge basis for the company’s VLCCs operating in the spot market, i.e. adjusted for the impact of IFRS 15 Revenue from Contracts with Customers, were $106K per day for Q1. So far in Q2, approximately 49% of the available spot days have been booked at an average rate of $189,500 per day on a discharge-to-discharge basis. In total, 71% of the available revenue days, including both spot and time-charter days, have been booked at an average rate of $115,400 per day.