Latest news with #shipping
Yahoo
4 hours ago
- Automotive
- Yahoo
DHT Holdings, Inc. announces agreement to acquire a 2018 built VLCC
HAMILTON, BERMUDA, June 19, 2025 – DHT Holdings, Inc. (NYSE:DHT) ('DHT' or the 'Company') today announces that it has entered into an agreement to acquire a VLCC built in 2018 at Hyundai Heavy Industries (HHI), for $107 million. The vessel is scheduled to deliver towards the end of the third quarter of 2025. The acquisition will be financed through the Company's available liquidity and projected mortgage debt. The vessel was built to a high specification by its current owner and is fitted with an exhaust gas cleaning system. The acquisition will improve DHT's age profile and will further improve the DHT fleet's efficiency metrics. DHT's President & CEO, Svein Moxnes Harfjeld, comments: 'We are always looking for opportunities with the intent of improving earnings per share for our shareholders. This is a sister of vessels built by us in 2018, a design with large carrying capacity and premium earning capabilities, well suited for the trading patterns of our key customers. We believe this to be a fitting addition to our fleet, replacing some of the earnings capacity that has been divested this year, delivering into a market with attractive prospects.' About DHT Holdings, is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our wholly owned management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our fleet employment with a combination of market exposure and fixed income contracts; our disciplined capital allocation strategy through cash dividends, investments in vessels, debt prepayments and share buybacks; and our transparent corporate structure maintaining a high level of integrity and corporate governance. For further information please visit Forward Looking StatementsThis press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as 'believe,' 'intend,' 'anticipate,' 'estimate,' 'project,' 'forecast,' 'plan,' 'potential,' 'will,' 'may,' 'should' and 'expect' and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company's estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the SEC on March 20, 2025. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements. Contact:Laila C. Halvorsen, CFOPhone: +1 441 295 1422 and +47 984 39 935 E-mail: lch@
Zawya
5 hours ago
- Politics
- Zawya
Iran's options against foreign aggression include closing Strait of Hormuz, lawmaker says
Iran could shut the Strait of Hormuz as a way of hitting back against its enemies, a senior lawmaker said on Thursday, though a second member of parliament said this would only happen if Tehran's vital interests were endangered. Iran has in the past threatened to close the Strait of Hormuz to traffic in retaliation for Western pressure, and shipping sources said on Wednesday that commercial ships were avoiding Iran's waters around the strait. "Iran has numerous options to respond to its enemies and uses such options based on what the situation is," the semi-official Mehr news agency quoted Behnam Saeedi, a member of the parliament's National Security Committee presidium as saying. "Closing the Strait of Hormuz is one of the potential options for Iran," he said. Mehr later quoted another lawmaker, Ali Yazdikhah, as saying Iran would continue to allow free shipping in the Strait and in the Gulf so long as its vital national interests were not at risk. "If the United States officially and operationally enters the war in support of the Zionists (Israel), it is the legitimate right of Iran in view of pressuring the U.S. and Western countries to disrupt their oil trade's ease of transit," Yazdikhah said. President Donald Trump is keeping the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites. Tehran has so far refrained from closing the Strait because all regional states and many other countries benefit from it, Yazdikhah added. "It is better than no country supports Israel to confront Iran. Iran's enemies know well that we have tens of ways to make the Strait of Hormuz unsafe and this option is feasible for us," the parliamentarian said. The Strait of Hormuz lies between Oman and Iran and is the primary export route for Gulf producers such as Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait. About 20% of the world's daily oil consumption — around 18 million barrels — passes through the Strait of Hormuz, which is only about 33 km (21 miles) wide at its narrowest point. (Reporting by Dubai Newsroom; Editing by Alison Williams and Gareth Jones)
Bloomberg
5 hours ago
- Business
- Bloomberg
Satellite Images Show Iran Racing to Get Its Oil Out
Iran is racing to get its oil out into the world, a sign of the unusual logistical steps that Tehran is undertaking as the US mulls joining Israel in bombing the Persian Gulf state. Oil is gushing out of the nation's ports and onto ocean-tankers, ensuring revenues would continue — at least for a while — if shipments are disrupted. Despite the surge, storage tanks at the nation's critical export terminal at Kharg Island are brimming with crude.
Arab News
7 hours ago
- Politics
- Arab News
Iran's options against foreign aggression include closing Strait of Hormuz, lawmaker says
DUBAI: Iran could shut the Strait of Hormuz as a way of hitting back against its enemies, a senior lawmaker said on Thursday, though a second member of parliament said this would only happen if Tehran's vital interests were endangered. Iran has in the past threatened to close the Strait of Hormuz to traffic in retaliation for Western pressure, and shipping sources said on Wednesday that commercial ships were avoiding Iran's waters around the strait. 'Iran has numerous options to respond to its enemies and uses such options based on what the situation is,' the semi-official Mehr news agency quoted Behnam Saeedi, a member of the parliament's National Security Committee presidium as saying. 'Closing the Strait of Hormuz is one of the potential options for Iran,' he said. Mehr later quoted another lawmaker, Ali Yazdikhah, as saying Iran would continue to allow free shipping in the Strait and in the Gulf so long as its vital national interests were not at risk. 'If the United States officially and operationally enters the war in support of the Zionists (Israel), it is the legitimate right of Iran in view of pressuring the US and Western countries to disrupt their oil trade's ease of transit,' Yazdikhah said. President Donald Trump is keeping the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites. Tehran has so far refrained from closing the Strait because all regional states and many other countries benefit from it, Yazdikhah added. 'It is better than no country supports Israel to confront Iran. Iran's enemies know well that we have tens of ways to make the Strait of Hormuz unsafe and this option is feasible for us,' the parliamentarian said. The Strait of Hormuz lies between Oman and Iran and is the primary export route for Gulf producers such as Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait. About 20 percent of the world's daily oil consumption — around 18 million barrels — passes through the Strait of Hormuz, which is only about 33 km (21 miles) wide at its narrowest point.
Yahoo
7 hours ago
- Business
- Yahoo
Israel-Iran war is jamming ship signals, Shell warns
The boss of Shell has warned that oil tankers are having their signals jammed when they pass through the Strait of Hormuz as the conflict escalates between Israel and Iran. Wael Sawan, the chief executive of the FTSE 100 oil giant, said it had drawn up contingency plans in case the war in the Middle East leads to major upheaval in the crucial shipping route, which carries around a fifth of the world's oil. He raised concerns about the disruption to shipping signals in the area, which has affected nearly 1,000 ships in the Gulf, according to Windward, the shipping analysts. A collision involving tankers south of the Strait of Hormuz occurred on Tuesday, with both vessels catching fire. Mr Sawan said: 'What is particularly challenging right now is some of the jamming that's happening.' He told the Japan Energy Summit and Exhibition in Tokyo that Shell is 'being very careful' with shipping in the Middle East, adding that any blockage of the trade route risked triggering a substantial shock to the global economy. Around 19m barrels a day pass through the strait separating the Persian Gulf from the Gulf of Oman and the Indian Ocean beyond, which is just 21 nautical miles wide at its narrowest point. The United States has previously called the waterway 'the world's most important choke point'. Mr Sawan said: 'If that artery is blocked, for whatever reason, it has a huge impact on global trade. We have plans in the eventuality that things deteriorate.' Oil prices have surged from around $60 a barrel at the start of this month to more than $77 a barrel on Thursday, over concerns that supplies could be disrupted by the upheaval in the Middle East. European wholesale gas prices have also climbed by nearly 10pc since the outbreak of the war between Israel and Iran, which has entered its seventh day. White House officials said on Thursday that Donald Trump has approved a plan to attack Iran but is yet to give a final order. The US president gave private instructions to military chiefs in the situation room inside the White House on Wednesday, according to reports. Mr Trump said on Wednesday: 'You don't know that I'm going to even do it. I may do it. I may not do it. Nobody knows what I'm going to do. I can tell you this: Iran's got a lot of trouble, and they want to negotiate.' Gao Jian, an analyst at Qisheng Futures, said: 'The geopolitical situation remains highly tense, with no signs of easing.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
