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Charter arrangements (Tables) | 12 Months Ended
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Dec. 31, 2024
Charter arrangements [Abstract] |
Shipping Revenues | The below table details the Company’s shipping revenues:
(Dollars in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Time charter revenues1 |  | $ | 82,640 |  |  | $ | 74,989 |  |  | $ | 75,790 |
Voyage charter revenues2 |  |  | 485,195 |  |  |  | 481,087 |  |  |  | 374,592 |
Shipping revenues |  | $ | 567,835 |  |  | $ | 556,075 |  |  | $ | 450,381 |
Other revenues3 |  |  | 3,938 |  |  |  | 4,481 |  |  |  | 3,764 |
Total revenues |  | $ | 571,773 |  |  | $ | 560,556 |  |  | $ | 454,146 |
Whereof IFRS 15 revenues |  | $ | 507,569 |  |  | $ | 504,529 |  |  | $ | 397,500 |
1 | The majority of time charter revenues are presented in accordance with IFRS 16, while the portion of time charter revenues related to technical management services, equaling $18,436 thousand, $18,961 thousand and $19,144 thousand, for 2024, 2023 and 2022, respectively, is recognized in accordance with IFRS 15.
2 | Voyage charter revenues are related to revenue from spot charters and are presented in accordance with IFRS 15.
3 | Other revenues mainly relate to technical management services provided and are presented in accordance with IFRS 15.
Vessel Employment | The following summarizes the Company’s vessel employment as of December 31, 2024:
Vessel |  | Type of Employment |  | Expiry |
VLCC |  |  |  |  |
DHT Appaloosa |  | Spot |  |  |  |
DHT Mustang |  | Spot |  |  |  |
DHT Bronco |  | Spot |  |  |  |
DHT Colt |  | Spot |  |  |  |
DHT Stallion |  | Spot |  |  |  |
DHT Tiger |  | Spot |  |  |  |
DHT Harrier |  | Time charter |  |  | Q4 2025 |
DHT Puma |  | Time charter with profit sharing |  |  | Q1 2026 |
DHT Panther |  | Spot |  |  |  |
DHT Osprey |  | Time charter |  |  | Q2 2027 |
DHT Lion |  | Time charter |  |  | Q3 2025 |
DHT Leopard |  | Time charter |  |  | Q4 2027 |
DHT Jaguar |  | Spot |  |  |  |
DHT Taiga |  | Spot |  |  |  |
DHT Opal |  | Spot |  |  |  |
DHT Sundarbans |  | Time charter with profit sharing |  |  | Q1 2025 |
DHT Redwood |  | Spot |  |  |  |
DHT Amazon |  | Spot |  |  |  |
DHT Peony |  | Spot |  |  |  |
DHT Lotus |  | Spot |  |  |  |
DHT China |  | Spot |  |  |  |
DHT Europe |  | Time charter |  |  | Q2 2025 |
DHT Bauhinia |  | Spot |  |  |  |
DHT Scandinavia |  | Spot |  |  |  |
Future Charter Payments | The future revenues expected to be received from the time charters (not including any potential profit sharing) for the Company’s vessels on existing charters as of the reporting date are as follows:
Year |  | Amount |
2025 |  | $ | 68,680 |
2026 |  |  | 26,552 |
2027 |  |  | 17,885 |
Thereafter |  |  | - |
Net charter payments |  | $ | 113,117 |
Contract Balances | Contract balances and related disclosures have been included in the following places in the notes to the Company’s consolidated financial statements:
|  | Note |
Accounts receivable and accrued revenues |  | 8,9 |
Deferred shipping revenues relate to charter hire payments paid in advance. The year-end deferred shipping revenues balances have been recognized as revenue in the following year due to the short-term nature of the advances.
|  | 2024 |  |  | 2023 |  |  | 2022 |
Deferred shipping revenues |  | $ | 6,139 |  |  | $ | 4,394 |  |  | $ | 4,172 |
Capitalized voyage expenses Voyage expenses are capitalized between the previous discharge port, or contract date if later, and the next load port and amortized between load port and discharge port. The closing balance of assets recognized from the costs to obtain or fulfil a contract was:
|  | 2024 |  |  | 2023 |  |  | 2022 |
Capitalized voyage expenses |  | $ | 2,450 |  |  | $ | 2,549 |  |  | $ | 2,799 |

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