USA: OSG Files Motions to Reject Charters

USA - OSG Files Motions to Reject Charters

DHT Holdings, Inc. announced that Overseas Shipholding Group, Inc. and certain of its subsidiaries filed rejection motions on December 6, 2012 with the U.S. Bankruptcy Court for the District of Delaware, which motions seek the Court’s approval to reject the bareboat charters for the Overseas Newcastle and the Overseas London.

Pursuant to these two bareboat charters, the Company had placed the two vessels on bareboat charters to OSG through December 2014 (Overseas Newcastle) and January 2018 (Overseas London). The Company currently expects that the two vessels will be redelivered to its subsidiaries in the coming weeks. As discussed in the Company’s third quarter earnings release issued on October 23, 2012, the Company adjusted the carrying value of its fleet through an impairment charge. DHT does not expect any further impairment charge as a result of the redelivery of the two vessels.


DHT Holdings, December 12, 2012