Crude oil tanker company swings back to profit
DHT Holdings Inc, the Bermudian-based crude oil tanker company, has reported net income of $62 million for fiscal 2022 largely owing to a strong fourth quarter.
That compares to a net loss of $11.5 million in 2021.
The difference between the two periods mainly reflects higher tanker rates, the company said.
Net profit in the fourth quarter was $61.8 million, compared to a net loss in the fourth quarter of 2021 of $2.9 million.
The company reported shipping revenues for 2022 of $450.4 million, compared to $295.9 million in 2021.
The increase includes $168.6 million attributable to higher tanker rates partially offset by $14.1 million attributable to decreased total revenue days.
DHT had shipping revenues for the fourth quarter of $166.5 million compared to shipping revenues of $83.8 million in the fourth quarter of 2021.
Need to
Know
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service