New York-listed Scorpio Tankers invested $89.1m for a minority interest in DHT Holdings Inc. The investment in DHT was described as “passive” by Scorpio Tankers on Tuesday as it announced financial results for the third quarter of 2024.
The shipowner during the third quarter invested $89.1m for a “passive, minority interest” in DHT Holdings Inc. (DHT), a publicly traded crude tanker shipping company which owns a fleet of 28 very large crude carriers (VLCCs).
The company in its financial results for the third quarter of 2024 said it purchased 7,982,480 common shares in DHT, or 4.9% of the outstanding shares, in the open market at an average price of $11.17 per share during this period.
“This investment reflects the company’s constructive outlook in this sector,” the shipowner commented on the purchase.
Emanuele A. Lauro-led Scorpio Tankers also disclosed that during that period the company entered into agreements to sell two 2014-built scrubber fitted MR product tankers, STI San Antonio and STI Texas City, for $42.5m per vessel. These sales are expected to close within the fourth quarter of 2024.
It also entered into an agreement in October to sell its 2019-built scrubber fitted LR2 product tanker, STI Lily for $73.5m. The sale is expected to close within the fourth quarter of 2024.
Meanwhile, the shipowner closed on the sales of six MR product tankers. The 2012-built vessels, STI Garnet, STI Onyx, STI Ruby, and STI Topaz, were sold for $142.5m in aggregate to three separate buyers. The 2013-built vessel, STI Beryl (which is not scrubber fitted), was sold for $36.6m and the 2015-built MR product tanker, STI Manhattan, was sold for $40.8m.
Furthermore, the company sealed a three-year time charter-out agreement for the 2018-built MR product tanker, STI Jardins, for $29,550 per day.
As informed, this vessel is not scrubber-fitted, and the time charter commenced in October 2024.
