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Delivery Of Fuel‑Efficient VLCC DHT Antelope Might Change The Case For Investing In DHT Holdings (DHT)

Simply Wall St · 6d ago
  • DHT Holdings has recently taken delivery of the VLCC newbuilding DHT Antelope from Hanwha Ocean, with the fully funded vessel entering the spot market and marking the first of four ships scheduled for delivery in the first half of 2026.
  • This phased expansion of a modern VLCC fleet directly supports DHT’s focus on improving operational efficiency and earnings power through younger, fuel-efficient tonnage.
  • We’ll now consider how the fully funded DHT Antelope delivery, expanding VLCC capacity, may reshape DHT Holdings’ existing investment narrative.

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DHT Holdings Investment Narrative Recap

To own DHT, you need to believe in continued demand for crude seaborne transport and management’s ability to translate a modern VLCC fleet into resilient cash generation. The fully funded DHT Antelope strengthens that fleet story, but it does not materially change the key short term swing factor, which remains freight rate volatility from DHT’s spot exposure, nor the biggest risk, which is long term pressure on oil transport demand from decarbonization trends.

The recent US$308.4 million senior secured credit facility for the four 2026 newbuildings ties directly into this delivery, underscoring DHT’s commitment to younger, fuel efficient tonnage. This financing supports the expansion that could amplify earnings power when markets are firm, but also increases the importance of managing sector wide oversupply risk and sustaining utilization as new capacity enters the fleet.

But while newer VLCCs can support earnings, investors should be aware that DHT’s heavy spot exposure still leaves returns very sensitive to...

Read the full narrative on DHT Holdings (it's free!)

DHT Holdings' narrative projects $497.7 million revenue and $281.4 million earnings by 2028. This assumes a 3.7% yearly revenue decline but an earnings increase of about $91 million from $190.4 million today.

Uncover how DHT Holdings' forecasts yield a $15.32 fair value, a 30% upside to its current price.

Exploring Other Perspectives

DHT 1-Year Stock Price Chart
DHT 1-Year Stock Price Chart

Seven members of the Simply Wall St Community value DHT anywhere between about US$13.50 and US$182.97 per share, showing how far opinions can stretch. When you weigh that against DHT’s growing modern fleet and continued spot exposure, it underlines why you should compare several viewpoints before forming a view on future performance.

Explore 7 other fair value estimates on DHT Holdings - why the stock might be a potential multi-bagger!

Build Your Own DHT Holdings Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.