The sale is in accordance with the company's fleet renewal strategy.
VLCC DHT Ann - Image courtesy of DHT Holdings
The company will deliver the vessel to its new owners during the second quarter and it is expected to retire from the trading fleet.
About $13.0 million of bank debt will be repaid in connection with the sale and the company will record a book loss of about $4.0 million in the first quarter 2017.
DHT enjoys a strong position with its robust balance sheet, modern high-quality fleet, best-in-class cash break-even levels and attractive time charter contracts.
Source: DHT Holdings