DHT Holdings has reinforced its long-term fleet renewal strategy by returning to South Korea’s Hanwha Ocean for a new very large crude carrier (VLCC), securing a fresh newbuilding slot for delivery in August 2028.
The New York-listed tanker owner confirmed that the vessel will be a sistership to two VLCCs previously ordered at Hanwha in 2024 and delivered earlier this year. While the company did not disclose the contract value, market sources estimate the deal to be in the region of $130 million.
The new tanker will follow the same high-specification design as its sister vessels, with a focus on improved fuel efficiency, lower emissions and enhanced cargo capacity, reflecting ongoing industry pressure to modernise fleets in line with environmental and operational performance requirements.
DHT president and chief executive Svein Moxnes Harfjeld said the decision to place the order was strongly influenced by the company’s positive experience with its most recent deliveries from the Korean shipyard.
“We are very pleased with the two newbuildings delivered from Hanwha earlier this year and look forward to adding another vessel to our Antelope Class series through this early delivery opportunity provided by Hanwha,” he said.
He added that the order is consistent with DHT’s broader strategy of maintaining a high-quality and efficient fleet capable of serving customers while delivering long-term shareholder value.
The latest contract continues a broader fleet renewal programme that has seen DHT systematically replace older VLCCs with modern, more efficient tonnage. The company has been steadily introducing new vessels while simultaneously divesting older ships in its fleet.
In March, DHT took delivery of the DHT Gazelle from HD Hyundai Samho. That vessel was the third in a series of four VLCC newbuildings scheduled for delivery in the first half of 2026, and it immediately entered a five- to seven-year charter agreement with a major oil company, underlining strong long-term employment prospects for modern tonnage.
The fourth and final vessel in the current Antelope-class programme is expected to be delivered later this month, marking another milestone in the company’s fleet renewal cycle.
At the same time, DHT has been actively reducing exposure to older vessels. Earlier this year, the company agreed to sell its oldest ship, the 2007-built DHT Bauhinia, for approximately $51.5 million, with delivery to its new owner expected around mid-2026.
The latest newbuilding decision highlights the ongoing transformation of the VLCC segment, where owners are increasingly prioritising efficiency, emissions performance and long-term charter competitiveness as global crude shipping demand continues to evolve.
