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v3.22.2.2

Vessels | 9 Months Ended
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Sep. 30, 2022
Vessels [Abstract] |
Vessels | Note 6 – Vessels The carrying values of the vessels may not represent their fair market value at any point in time since the market prices of second-hand vessels tend to fluctuate with changes in charter rates and the cost of constructing new vessels. Historically, both charter rates and vessel values have been cyclical. The carrying amounts of vessels held and used by us are reviewed for potential impairment or reversal of prior impairment charges whenever events or changes in circumstances indicate that the carrying amount of a particular vessel may not accurately reflect the recoverable amount of a particular vessel. Vessels
Cost of Vessels |  |  |
$ in thousands |  |  |
At January 1, 2022 |  |  | 2,156,855 |
Additions |  |  | 92 |
Transferred from vessels upgrades |  |  | 6,829 |
Retirement * |  |  | (166,839 | )
At September 30, 2022 |  |  | 1,996,937 |
Depreciation, impairment and amortization |  |  |
$ in thousands |  |  |
At January 1, 2022 |  |  | 689,009 |
Depreciation and amortization |  |  | 94,538 |
Retirement * |  |  | (73,953 | )
At September 30, 2022 |  |  | 709,594 |
Carrying Amount |  |  |  |
$ in thousands |  |  |  |
At January 1, 2022 |  |  | 1,467,846 |
At September 30, 2022 |  |  | 1,287,343 |
*Relates to sale of DHT Falcon, DHT Hawk and DHT Edelweiss and completed depreciation of drydocking for DHT Hawk and DHT Sundarbans. Advances for vessel upgrades Cost of advances for vessels and vessel upgrades relates to prepaid drydocking and ballast water treatment systems.
Cost of advances of vessels and vessel upgrades |  |  |
$ in thousands |  |  |
At January 1, 2022 |  |  | 372 |
Additions |  |  | 8,558 |
Transferred to vessels |  |  | (6,829 | )
At September 30, 2022 |  |  | 2,101 |
Carrying Amount |  |  |  |
$ in thousands |  |  |  |
At January 1, 2022 |  |  | 372 |
At September 30, 2022 |  |  | 2,101 |

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