New York-listed crude oil tanker company DHT Holdings Inc. has inked an agreement to acquire a VLCC built in 2018 at Hyundai Heavy Industries (HHI) for $107m.

The vessel is scheduled to deliver towards the end of the third quarter of 2025.

As it is reported, the acquisition will be financed through the company’s available liquidity and projected mortgage debt.

The vessel was built to a “high specification” by its current owner, the company said, adding that it is fitted with an exhaust gas cleaning system.

The company believes that this acquisition will improve DHT’s age profile and will further improve the DHT fleet’s efficiency metrics.

Svein Moxnes Harfjeld, DHT’s president and chief executive officer, commented: “We are always looking for opportunities with the intent of improving earnings per share for our shareholders.

“This is a sister of vessels built by us in 2018, a design with large carrying capacity and premium earning capabilities, well suited for the trading patterns of our key customers. We believe this to be a fitting addition to our fleet, replacing some of the earnings capacity that has been divested this year, delivering into a market with attractive prospects.”

DHT fleet trades internationally and consists of crude oil tankers in the VLCC segment. The company operates through its wholly-owned management companies in Monaco, Norway, Singapore, and India.