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Segment reporting | 9 Months Ended
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Sep. 30, 2022
Segment reporting [Abstract] |
Segment reporting | Note 3 – Segment reporting DHT’s primary business is operating a fleet of crude oil tankers, with a secondary activity of providing technical management services. Management organizes and manages the entity as one segment based upon the magnitude of services provided. The Company’s Chief Operating Decision Maker (“CODM”), being the President & Chief Executive Officer, reviews the Company’s operating results on a consolidated basis as one operating segment as defined in IFRS 8, Operating Segments. The below table details the Company’s total revenues:
$ in thousands |  |  | Q3 2022 |  |  |  | Q3 2021 |  |  | 9M 2022 |  |  | 9M 2021 |
Time charter revenues1 |  |  | 19,884 |  |  |  | 28,576 |  |  |  | 57,208 |  |  |  | 119,420 |
Voyage charter revenues |  |  | 88,343 |  |  |  | 30,519 |  |  |  | 226,651 |  |  |  | 92,598 |
Shipping revenues |  |  | 108,227 |  |  |  | 59,095 |  |  |  | 283,860 |  |  |  | 212,018 |
Other revenues2 |  |  | 1,711 |  |  |  | - |  |  |  | 2,392 |  |  |  | - |
Total revenues |  |  | 109,938 |  |  |  | 59,095 |  |  |  | 286,251 |  |  |  | 212,018 |
1Time charter revenues are presented in accordance with IFRS 16 Leases, while the portion of time charter revenues related to technical management services, equaling $4.6 million in the third quarter of 2022, $8.8 million in the third quarter of 2021, $14.2 million in the first three quarters of 2022 and $30.8 million in the first three quarters of 2021 is recognized in accordance with IFRS 15 Revenue from Contracts with Customers. 2 Other revenues mainly relates to technical management services provided. As of September 30, 2022, the Company had 23 vessels in operation; 6 vessels were on time charters and 17 vessels operating in the spot market. Information about major customers: For the period from July 1, 2022, to September 30, 2022, five customers represented $13.5 million, $12.8 million, $10.9 million, $10.9 million, and $6.5 million, respectively, of the Company’s shipping revenues. The five customers in aggregate represented $54.6 million, equal to 50 percent of the shipping revenues of $108.2 million for the period from July 1, 2022, to September 30, 2022. For the period from January 1, 2022, to September 30, 2022, five customers represented $42.4 million, $39.0 million, $23.5 million, $19.1 million, and $17.1 million, respectively, of the Company’s shipping revenues. The five customers in aggregate represented $141.1 million, equal to 50 percent of the shipping revenues of $283.9 million for the period from January 1, 2022, to September 30, 2022. For the period from July 1, 2021, to September 30, 2021, five customers represented $7.7 million, $7.7 million, $7.5 million, $5.7 million, and $5.7 million, respectively, of the Company’s shipping revenues. The five customers in aggregate represented $34.3 million, equal to 56 percent of the shipping revenues of $59.1 million for the period from July 1, 2021, to September 30, 2021. For the period from January 1, 2021, to September 30, 2021, five customers represented $24.6 million, $24.5 million, $24.2 million, $19.8 million, and $16.6 million, respectively, of the Company’s shipping revenues. The five customers in aggregate represented $109.7 million, equal to 52 percent of the shipping revenues of $212.0 million for the period from January 1, 2021, to September 30, 2021.

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