DHT Holdings, Inc., listed on NYSE (Svein Moxnes Harfjeld & Trygve P. Munthe, Co-CEOs), reported shipping revenues for the 2nd Q of 2017 of USD 86.3 million compared to shipping revenues of USD 98.7 million in the 2nd Q of 2016. The change from the 2016 period to the 2017 period was due to lower tanker rates partly offset by an increase in the fleet.

The company had net income of USD 4.8 million, or USD 0.04 per basic share and USD 0.04 per diluted share, compared to net income of USD 35.6 million, or USD 0.38 per basic share and USD 0.34 per diluted share in the 2nd Q of 2016.

• Net cash provided by operating activities was USD 35.5 million compared to USD 46.4m in the 2nd Q of 2016.

For the 1st half of 2017 the company reported shipping revenues of USD 178.4 million compared to USD 206.3 million in the 1st half of 2016. The change from the 2016 period to the 2017 period was due to lower tanker rates partly offset by an increase in the fleet.

The company reported net income of USD 19.2 million, or USD 0.18 per basic share and USD 0.18 per diluted share compared to net income of USD 67.1 million, or USD 0.72 per basic share and USD 0.64 per diluted share in the 1st half of 2016.

• Net cash provided by operating activities was USD 76.9 million compared to USD 105.3 million for the 1st half of 2016. The decrease is mainly due to lower net income.

► In June the legal action filed by Frontline Ltd. in the High Court of the Republic of the Marshall Islands, which challenged DHT‘s transaction with BW and DHT‘s Rights Plan, was  dismissed, with prejudice.  Frontline is precluded from bringing similar claims against DHT, its directors and BW in any other court. Under Marshall Islandslaw, the dismissal also constitutes a ruling on the merits in favor of DHT.

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