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Mar 31
DHT Holdings Q1 2025 Earnings Report
DHT Holdings reported a net profit of $44.1 million for Q1 2025, with shipping revenues of $118.2 million and an EPS of $0.27.
Key Takeaways
DHT Holdings, Inc. announced its first quarter 2025 results, reporting a net profit of $44.1 million, or $0.27 per basic share. Shipping revenues for the quarter were $118.2 million, a decrease from $145.9 million in Q1 2024. The company achieved average combined time charter equivalent earnings of $38,200 per day.
Net profit for Q1 2025 was $44.1 million, equating to $0.27 per basic share, including a $19.8 million gain on vessel sale.
Average combined time charter equivalent earnings reached $38,200 per day in Q1 2025.
The company sold DHT Scandinavia for $43.4 million in January 2025, resulting in a $19.8 million gain.
DHT entered into new one-year time charter contracts for DHT China ($40,000/day) and DHT Tiger ($52,500/day) in Q1 2025.
DHT Holdings
DHT Holdings
DHT Holdings Revenue by Segment
Revenue by Segment
Shipping Revenues Revenue
CapyFin.com Forward Guidance
The company anticipates a favorable supply story in the market due to an aging fleet and benign orderbook, with strong demand for its quality fleet and services. They expect continued oil demand growth and new refining capacity to come online.
Positive Outlook
- Favorable supply story with a rapidly aging fleet and benign orderbook of new ships.
- String of sanctions making it increasingly challenging to trade ships in the 'shadow fleet'.
- OPEC modestly increasing oil supply to markets, strengthening freight rates.
- Continued oil demand growth and temporarily moderating growth trajectory of Atlantic based oil production.
- Low inventories in China requiring refilling to support growth and new refining capacity coming on stream.
Challenges Ahead
- Global markets experienced volatility following announcements of various tariffs.
- Uncertainty regarding objectives and outcomes of tariffs, making true implications for global economic growth and trade unclear.
- Potential for sanctioned oil production to be at risk, requiring replacement.
- The company's estimates for future payments related to vessels under construction are subject to change.
- Market prices of second-hand vessels and charter rates tend to fluctuate cyclically.