The following is a summary of the DHT Holdings, Inc. (DHT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 EBITDA amounted to $80 million with a net income of $44.5 million, or $0.27 per share.

• Total revenue reached $103.7 million, with a quarterly average TCE of $49,100 per day.

• Vessel operating expenses reached $20.4 million, including some one-time costs.

• Generated $80 million in EBITDA, paid $46.8 million in dividends, and managed $16 million in regular debt repayment and cash interest.

Business Progress:

• DHT Holdings utilized a strong balance sheet with a net debt of $14.2 million per vessel and total liquidity of $263 million.

• Maintained spot market TCE earnings at $52,700 per day for the second quarter.

• Paid first installments for all four new buildings, amounting to $51.5 million.

• Continued a stable dividend policy, declaring a $0.27 per share quarterly cash dividend.

Opportunities:

• Increased revenue days due to better delivery schedules for the newbuilding program which expects an increase of 550-600 days.

• Continued global demand for crude oil and longer transportation distances provide positive market outlook and opportunities for increased business.

Risks:

• The spot market is currently weak due to seasonal patterns and refinery maintenance, with potential further reductions from the average spot rates.

• Risks of cyclical changes in the China market could affect long-term demand and spot market volatility.

More details: DHT Holdings IR

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