DHT Holdings strikes a deal to buy a modern VLCC after “hunting high and low for opportunities.”

The crude oil tanker company has entered into an agreement to acquire a VLCC, built in 2018 at Hyundai Heavy Industries (HHI).

New-York listed company pays $94.5 million as expects this to “become a good investment, delivering into a market with attractive prospects.” The company did not reveal the vessel or its seller.

The vessel is scheduled to deliver during the third quarter of 2023. The company will finance the acquisition with available liquidity and projected mortgage debt, and it is expected to be accretive to DHT’s earnings per share, as DHT Holdings said in a statement.

It was built to a high specification by its current owner, is fitted with an exhaust gas cleaning system and will further improve the DHT fleet efficiencies, amongst others its annual efficiency ratio (AER) and energy efficiency operational index (EEOI) metrics.

DHT’s president and CEO, Svein Moxnes Harfjeld, commented: “We are constantly hunting high and low for opportunities that can bring value to our shareholders. As always, the devil is in the details and this is a sister of vessels built by us in 2018, a design with large deadweight and premium earning capabilities, fitting well into the trading patterns of our key customers.”