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Vessels and subsidiaries (Tables) | 12 Months Ended
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Dec. 31, 2022
Vessels and subsidiaries [Abstract] |
Vessel Subsidiaries | The vessels are owned by companies incorporated in the Marshall Islands or the Cayman Islands. The Company directly owns 100% of the vessel subsidiaries. The primary activity of each of the vessel subsidiaries is the ownership and operation of a vessel. In addition, the Company has a vessel-chartering subsidiary and three subsidiaries, DHT Management S.A.M. (Monaco), DHT Management AS (Norway) and DHT Ship Management (Singapore) Pte. Ltd., that perform management services for DHT and its subsidiaries. In addition, the Company directly owns 53% of Goodwood Ship Management Pte. Ltd. providing technical management services. The following table sets out the details of the vessel subsidiaries included in these consolidated financial statements:
Company | Vessel name | Dwt | Flag State | Year Built
DHT Mustang Inc | DHT Mustang | 317,975 | Hong Kong | 2018
DHT Bronco Inc | DHT Bronco | 317,975 | Hong Kong | 2018
DHT Colt Inc | DHT Colt | 319,713 | Hong Kong | 2018
DHT Stallion Inc | DHT Stallion | 319,713 | Hong Kong | 2018
DHT Tiger Limited | DHT Tiger | 299,629 | Hong Kong | 2017
DHT Harrier Inc | DHT Harrier | 299,985 | Hong Kong | 2016
DHT Puma Limited | DHT Puma | 299,629 | Hong Kong | 2016
DHT Panther Limited | DHT Panther | 299,629 | Hong Kong | 2016
DHT Osprey Inc | DHT Osprey | 299,999 | Hong Kong | 2016
DHT Lion Limited | DHT Lion | 299,629 | Hong Kong | 2016
DHT Leopard Limited | DHT Leopard | 299,629 | Hong Kong | 2016
DHT Jaguar Limited | DHT Jaguar | 299,629 | Hong Kong | 2015
Samco Iota Ltd | DHT Taiga | 314,249 | Hong Kong | 2012
DHT Opal Inc | DHT Opal | 320,105 | Hong Kong | 2012
Samco Theta Ltd | DHT Sundarbans | 318,123 | Hong Kong | 2012
Samco Kappa Ltd | DHT Redwood | 314,249 | Hong Kong | 2011
Samco Eta Ltd | DHT Amazon | 318,130 | RIF | 2011
DHT Peony Inc | DHT Peony | 320,013 | Hong Kong | 2011
DHT Lotus Inc | DHT Lotus | 320,142 | Hong Kong | 2011
Company | Vessel name | Dwt | Flag State | Year Built
DHT Edelweiss Inc1 | DHT Edelweiss | 301,021 | Hong Kong | 2008
Samco Epsilon Ltd | DHT China | 317,794 | Hong Kong | 2007
Samco Delta Ltd | DHT Europe | 317,713 | Hong Kong | 2007
DHT Bauhinia Inc | DHT Bauhinia | 301,019 | Hong Kong | 2007
DHT Hawk Inc1 | DHT Hawk | 298,923 | Hong Kong | 2007
Samco Gamma Ltd | DHT Scandinavia | 317,826 | Hong Kong | 2006
DHT Falcon Inc1 | DHT Falcon | 298,971 | Hong Kong | 2006
1 | In 2022, the Company entered into three separate agreements to sell its three VLCCs, DHT Hawk, DHT Falcon and DHT Edelweiss, for an aggregate of $115 million. DHT Hawk and DHT Falcon were delivered in May 2022, and DHT Edelweiss was delivered in September 2022. A gain of $19.5 million was recorded in relation to the sale of these VLCCs.
Vessels | Vessels
(Dollars in thousands) |  | Vessels |  |  | Drydock |  |  | EGCS |  |  | Time charter contracts |  |  | Total |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of January 1, 2022 |  |  | 2,051,924 |  |  |  | 54,368 |  |  |  | 59,311 |  |  |  | - |  |  |  | 2,165,604 |
Additions |  |  | 96 |  |  |  | (12 | ) |  |  | 3 |  |  |  | - |  |  |  | 86 |
Transferred from vessels upgrades |  |  | 1,467 |  |  |  | 7,223 |  |  |  | - |  |  |  | - |  |  |  | 8,690 |
Disposals |  |  | (146,031 | ) |  |  | (14,961 | ) |  |  | (7,443 | ) |  |  | - |  |  |  | (168,435 | )
As of December 31, 2022 |  |  | 1,907,456 |  |  |  | 46,617 |  |  |  | 51,871 |  |  |  | - |  |  |  | 2,005,945 |
Accumulated depreciation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of January 1, 2022 |  |  | (646,504 | ) |  |  | (17,766 | ) |  |  | (33,488 | ) |  |  | - |  |  |  | (697,758 | )
Charge for the period |  |  | (89,615 | ) |  |  | (11,412 | ) |  |  | (20,710 | ) |  |  | - |  |  |  | (121,738 | )
Disposals |  |  | 61,042 |  |  |  | 8,387 |  |  |  | 6,119 |  |  |  | - |  |  |  | 75,549 |
As of December 31, 2022 |  |  | (675,077 | ) |  |  | (20,792 | ) |  |  | (48,079 | ) |  |  | - |  |  |  | (743,947 | )
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2022 |  |  | 1,232,380 |  |  |  | 25,826 |  |  |  | 3,793 |  |  |  | - |  |  |  | 1,261,998 |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of January 1, 2021 |  |  | 2,020,690 |  |  |  | 51,843 |  |  |  | 51,071 |  |  |  | 6,600 |  |  |  | 2,130,204 |
Additions |  |  | 66,531 |  |  |  | 139 |  |  |  | 1,486 |  |  |  | - |  |  |  | 68,156 |
Transferred from vessels upgrades |  |  | 75,417 |  |  |  | 30,158 |  |  |  | 17,333 |  |  |  | - |  |  |  | 122,907 |
Disposals |  |  | (110,713 | ) |  |  | (27,772 | ) |  |  | (10,579 | ) |  |  | (6,600 | ) |  |  | (155,664 | )
As of December 31, 2021 |  |  | 2,051,924 |  |  |  | 54,368 |  |  |  | 59,311 |  |  |  | - |  |  |  | 2,165,604 |
Accumulated depreciation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of January 1, 2021 |  |  | (596,709 | ) |  |  | (30,880 | ) |  |  | (20,032 | ) |  |  | (6,148 | ) |  |  | (653,769 | )
Charge for the period |  |  | (94,700 | ) |  |  | (13,270 | ) |  |  | (19,322 | ) |  |  | (452 | ) |  |  | (127,743 | )
Disposals |  |  | 44,905 |  |  |  | 26,383 |  |  |  | 5,866 |  |  |  | 6,600 |  |  |  | 83,754 |
As of December 31, 2021 |  |  | (646,504 | ) |  |  | (17,766 | ) |  |  | (33,488 | ) |  |  | - |  |  |  | (697,758 | )
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2021 |  |  | 1,405,420 |  |  |  | 36,602 |  |  |  | 25,824 |  |  |  | - |  |  |  | 1,467,846 |
Vessel upgrades |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of January 1, 2022 |  |  | 232 |  |  |  | 140 |  |  |  | - |  |  |  | - |  |  |  | 372 |
Additions |  |  | 1,235 |  |  |  | 9,890 |  |  |  | 1,776 |  |  |  | - |  |  |  | 12,900 |
Transferred to vessels |  |  | (1,467 | ) |  |  | (7,223 | ) |  |  | - |  |  |  | - |  |  |  | (8,690 | )
As of December 31, 2022 |  |  | - |  |  |  | 2,807 |  |  |  | 1,776 |  |  |  | - |  |  |  | 4,583 |
As of January 1, 2021 |  |  | 2,788 |  |  |  | 3,265 |  |  |  | 11,216 |  |  |  | - |  |  |  | 17,269 |
Additions |  |  | 72,861 |  |  |  | 27,033 |  |  |  | 6,117 |  |  |  | - |  |  |  | 106,010 |
Transferred to vessels |  |  | (75,417 | ) |  |  | (30,158 | ) |  |  | (17,333 | ) |  |  | - |  |  |  | (122,907 | )
As of December 31, 2021 |  |  | 232 |  |  |  | 140 |  |  |  | - |  |  |  | - |  |  |  | 372 |

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