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DHT Holdings Is the Top Crude Tanker Stock So Far This Year


Jul. 3 2018, Updated 8:13 a.m. ET

DHT Holdings’ performance

DHT Holdings’ (DHT) YTD (year-to-date) returns stood at 30.6% as of June 28. It is the best performer among its peers so far this year. DHT Holdings has outperformed the shipping ETF and also outperformed the broad equity market indexes. Since the start of the year, the Invesco Shipping ETF (SEA) has fallen 12.1%. Oil and gas transportation companies account for 47.7% of SEA. The Dow Jones Industrial Average (DIA) has fallen 2.1% YTD as of June 28. The SPDR S&P 500 ETF (SPY) has risen 1.5% during the same period.

On June 22, DHT Holdings hit a 52-week high of $4.99. Currently, the stock is trading 5.3% lower than its 52-week high and 44.3% higher than its 52-week low.

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About DHT Holdings

DHT Holdings is an independent crude tanker company. It operates a fleet of 25 VLCCs (very large crude carriers) and two Aframaxes. The company operates its fleet in the spot and time charter markets. The company also has two newbuilds in its pipeline.

First-quarter results

DHT Holdings reported adjusted EBITDA for the first quarter of $24 million, which was 52.5% lower year-over-year. The company’s VLCC achieved time charter equivalent earnings of $21,400 per day in the first quarter. In the second quarter, the company has booked 55% of the available days at an average rate of $14,200 per day. DHT Holdings posted a positive free cash flow. In April, DHT Holdings took delivery of the first two VLCC newbuilds from DSME.

In this series, we’ll look at the stock performances of the other top crude tanker stocks including Frontline (FRO), Nordic American Tankers (NAT), Euronav (EURN), and Teekay Tankers (TNK).


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