DHT Holdings (NYSE:DHT) reported estimated time charter equivalent (TCE) earnings of $141,300 per day across its fleet for the third quarter of 2026, while preliminary fourth-quarter bookings indicated higher rates for its spot-market operations.
In a business update released on 12 October 2026, the crude oil tanker operator said its Very Large Crude Carriers (VLCCs) operating in the spot market generated estimated TCE earnings of $167,100 per day during the third quarter.
VLCCs operating under time-charter agreements earned an estimated $114,200 per day over the same period.
The quarterly estimates were based on 2,055 revenue days, including 1,054 days attributable to vessels operating in the spot market.
Looking ahead, DHT reported that approximately 50% of its available spot-market days for the fourth quarter had already been booked at an average rate of $509,100 per day, calculated on a discharge-to-discharge basis.
Including both spot-market and time-charter operations, the company said approximately 78% of available fourth-quarter revenue days had been secured at an estimated average rate of $225,200 per day.
The figures indicate a substantial increase in contracted spot-market rates compared with the third-quarter average, although the fourth-quarter estimates reflect bookings secured to date rather than completed quarterly earnings.
The higher booked rates provide greater revenue visibility for the remainder of the year, with the final quarterly outcome dependent on rates achieved for unbooked vessel days and actual fleet operations.
DHT operates an international fleet of VLCCs transporting crude oil and manages its vessels through wholly owned management companies based in Monaco, Norway, Singapore and India.
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