DHT: Early Delivery of VLCCs Confirmed

DHT Holdings, an independent crude oil tanker company, has advanced the delivery dates of two very large crude carriers (VLCCs).

On March 11, 2014, DHT Holdings entered into an amendment to its shipbuilding contracts for Hull Nos. 2781 and 2783 with Hyundai Heavy Industries Co., Ltd. in South Korea (HHI) related to the construction of two VLCCs.

The scheduled delivery of these two VLCCs has been advanced by approximately ten months, and the construction facility for the two vessels has been moved from HHI’s Gunsan facility to HHI’s Ulsan facility.

DHT has agreed to compensate HHI for the amendments by increasing the contract price by $1.5 million for each of the two vessels.

Following the Amendment, the VLCC newbuilding schedule with HHI is set forth in the following table:

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March 14, 2014