DHT Holdings, a New York-listed owner of very large crude carriers (VLCCs), has secured a three-year time charter for one of its vessels, adding forward cover at firm rates in a robust tanker market.
According to Splash247, the Svein Moxnes Harfjeld-led company has signed a deal for the 2015-built DHT Jaguar with an unnamed global energy company. The contract is set at $75,000 per day and is expected to start in September. The fixture keeps the vessel covered into 2029. DHT did not disclose further charter terms.
Strong Second Quarter Earnings
The company reported a business update showing a strong second quarter for its all-VLCC fleet. DHT estimated fleetwide time charter equivalent (TCE) earnings of $126,700 per day for the quarter. Its spot-trading VLCCs earned an estimated $162,600 per day, while vessels on time charter averaged $90,800 per day.
So far in the third quarter, DHT has booked 48% of available spot days at an average rate of $139,700 per day on a discharge-to-discharge basis. Across spot and time-charter days combined, 74% of available revenue days have been booked at an average rate of $94,300 per day.
Previous High-Paying Fixtures
| Vessel | Built | Charter Duration | Rate ($/day) | Source |
|---|---|---|---|---|
| DHT Jaguar | 2015 | 3 years | 75,000 | Splash247 (July 2026) |
| DHT Redwood | 2011 | 1 year | 105,000 | Splash247 (Feb 2026) |
| DHT Taiga | 2012 | 1 year | 94,000 | Splash247 (Feb 2026) |
| DHT Opal | 2012 | 1 year | 90,000 | Splash247 (Feb 2026) |
Implications for Shippers and Operators
For logistics managers and crude oil shippers, DHT’s long-term fixture signals sustained strong demand for VLCC tonnage. The $75,000/day three-year deal provides revenue visibility for the carrier but also suggests that charterers are willing to lock in capacity at elevated rates. Spot rates remain significantly higher, with Q3 spot bookings averaging $139,700/day, indicating a tight market. Operators should monitor DHT’s upcoming bookings and consider similar long-term charters to secure vessel availability.
Watch List
- Further fixtures by DHT and other VLCC owners, especially for 2027+ coverage.
- Q3 spot booking progress – as of mid-July, 48% of spot days are booked; the remainder will influence rate direction.
- OPEC+ production decisions and global crude demand, which directly affect VLCC employment.
- Competitor chartering activity: similar long-term deals from Euronav, Frontline, and other tanker owners could confirm market trends.
Sources:
