DHT Holdings is on track for a very profitable fourth quarter of 2026 thanks to robust spot rates in the Very Large Crude Carrier (VLCC) market. The tanker company has already booked a large portion of its available spot trading capacity at record high daily rates, showing the strength of current market conditions.

The New York Stock Exchange-listed company said in its third-quarter financial results that it had booked 68% of its available spot days for the fourth quarter at an average rate of $579,000 per day. That’s up significantly from an average of $167,000 a day by its spot trading fleet in the third quarter.

The strong performance reflects the steep rise in VLCC freight rates on major trade routes in recent months. Several fixtures involving DHT vessels demonstrate the extent of the current market rally.

Tankers International data shows the DHT Panther, built in 2016, was said to have been fixed to S-Oil for a Red Sea to South Korea voyage at $697,000 per day. The 2012-built DHT Tiaga meanwhile was said to have been chartered to IOC in November for a trip from West Africa to India's east coast at $603,000 per day.

Its strong quarterly outlook is also being helped by its time-chartered fleet. DHT’s combined average for the fourth quarter across its spot and time-chartered vessels is expected to be $267,500 per day with average time charter earnings of $100,200 per day. This is versus a combined average of $141,300 per day in the third quarter.

Third-quarter earnings beat full-year profit for 2025

DHT’s latest financial results highlight the strength of its performance through 2026. The company reported third-quarter profit after taxes of $270.9 million , citing continued strength in tanker market conditions and effective commercial operations .

DHT commented on the results, stating that the third quarter of 2026 was another very strong quarter for the company, driven by favourable market conditions and its commercial performance.

The company’s profit after tax for the whole of 2025 was $211 million, and the quarterly profit was more than that. DHT reported cumulative profit after tax of $633.7 million for the nine months ended 2026.

Disruptions in logistics continue to drive freight rates

DHT said the tanker market remains strong due to ongoing logistical disruptions that are leading to operational inefficiencies, as well as shifting crude oil buying patterns that are increasing transport distances.

These developments are driving demand for long-haul crude transportation and are contributing to the exceptionally high freight rates currently seen in the VLCC segment.

With a large portion of its fourth quarter spot capacity already committed at higher rates, DHT is well positioned to take advantage of the favourable market environment. Its latest results also highlight the ongoing impact on profitability across the global tanker sector of operational disruptions and changes in global crude trade flows.