DHT Holdings announces financing for four VLCC newbuildings DHT Holdings announced that it has entered into firm commitments for the debt financing of four of its newbuildings ordered at Hyundai Heavy Industries. The financing equals about 50% of the contract prices with an average margin above Libor of 2.5%. Assuming a Libor of 0.25% the average total debt service per vessel per day is estimated to about $11,100 in the first year after drawdown. The financing commitments are subject to final documentation.
DHT Holdings announces dividend policy DHT Holdings announced a new policy regarding dividend and capital allocation. As a result of the current tanker market, DHT intends to return at least 60% of its ordinary net income to shareholders. Further, DHT intends to use a significant amount of surplus cash flow after returning such capital to shareholders to deliver its balance sheet. DHT will commence its new capital allocation policy starting with Q2.