<SEC-DOCUMENT>0000950157-25-000373.txt : 20250507
<SEC-HEADER>0000950157-25-000373.hdr.sgml : 20250507
<ACCEPTANCE-DATETIME>20250507164906
ACCESSION NUMBER:		0000950157-25-000373
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20250507
FILED AS OF DATE:		20250507
DATE AS OF CHANGE:		20250507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DHT Holdings, Inc.
		CENTRAL INDEX KEY:			0001331284
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			1T

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32640
		FILM NUMBER:		25922233

	BUSINESS ADDRESS:	
		STREET 1:		CLARENDON HOUSE
		STREET 2:		2 CHURCH STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 11
		BUSINESS PHONE:		1 441 299-4912

	MAIL ADDRESS:	
		STREET 1:		CLARENDON HOUSE
		STREET 2:		2 CHURCH STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 11

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DHT Maritime, Inc.
		DATE OF NAME CHANGE:	20080627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Double Hull Tankers, Inc.
		DATE OF NAME CHANGE:	20050624
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6-k.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Cravath, Swaine & Moore LLP
         Document created using Broadridge PROfile 25.3.1.5296
         Copyright 1995 - 2025 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div>
      <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"><br>
      <div>
        <div style="text-align: center; color: #000000; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; color: #000000; font-weight: bold;">Washington, D.C. 20549</div>
        <div><br>
        </div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; width: 15%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div><br>
        </div>
        <div style="text-align: center; color: #000000; font-size: 18pt; font-weight: bold;">Form 6-K</div>
        <div><br>
        </div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; width: 15%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div><br>
        </div>
        <div style="text-align: center; color: #000000; font-weight: bold;">Report of Foreign Private Issuer</div>
        <div style="text-align: center; color: #000000; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16 under</div>
        <div style="text-align: center; color: #000000; font-weight: bold;">the Securities Exchange Act of 1934</div>
        <div style="text-align: center; color: #000000; font-weight: bold;">For the month of May 2025</div>
        <div style="text-align: center; color: #000000; font-weight: bold;">Commission File Number 001-32640</div>
        <div><br>
        </div>
        <div style="text-align: center; color: #000000; font-size: 24pt; font-weight: bold;">DHT HOLDINGS, INC.</div>
        <div style="text-align: center;">(Exact name of Registrant as specified in its charter)</div>
        <div><br>
        </div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; width: 15%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div><br>
        </div>
        <div style="text-align: center;">Clarendon House</div>
        <div style="text-align: center;">2 Church Street, Hamilton HM 11</div>
        <div style="text-align: center;">Bermuda</div>
        <div style="text-align: center;">(Address of principal executive offices)</div>
        <div><br>
        </div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; width: 15%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div><br>
        </div>
        <div>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
        <div><br>
        </div>
        <div style="text-align: center;">Form 20-F <font style="font-family: 'Segoe UI Symbol', sans-serif; color: #000000;">&#9745;</font> Form 40-F <font style="font-family: 'Segoe UI Symbol', sans-serif; color: #000000;">&#9744;</font></div>
        <div><br>
        </div>
        <div>
          <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
        </div>
        <div>&#160;
          <div style="color: #000000;"><u>Press Releases</u></div>
          <div>&#160;</div>
          <div>The press release issued by DHT Holdings, Inc. (the <font style="color: #000000;">&#8220;</font>Company<font style="color: #000000;">&#8221;</font>) on May 6, 2025 related to its results for the first quarter of 2025 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</div>
          <div>&#160;</div>
          <div style="color: #000000;"><u>Incorporation by Reference</u></div>
          <div>&#160;</div>
          <div>Exhibit 99.1 to this Report on Form 6-K shall be incorporated by reference into the Company&#8217;s registration statements on Form F-3 (file Nos. 333-239430 and
            333-270800), initially filed with the Securities and Exchange Commission on June 25, 2020 and March 23, 2023, respectively, as amended, to the extent not superseded by information subsequently filed or furnished (to the extent the Company
            expressly states that it incorporates such furnished information by reference) by the Company under the Securities Act of 1933 or the Securities Exchange Act of 1934, in each case as amended.</div>
        </div>
        <div>&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #bfbfbf; background-color: #bfbfbf;"></div>
        </div>
        <div style="color: #000000; font-weight: bold;">EXHIBIT LIST</div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z53789734cc91411e9ff09e75aa84f09a">

            <tr>
              <td style="width: 5%; vertical-align: bottom; background-color: rgb(254, 254, 254); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: #000000; font-weight: bold;">Exhibit</div>
              </td>
              <td style="width: 2.02%; vertical-align: bottom; background-color: rgb(254, 254, 254);">&#160;</td>
              <td style="width: 92.94%; vertical-align: bottom; background-color: rgb(254, 254, 254); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: #000000; font-weight: bold;">Description</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top; background-color: rgb(254, 254, 254);">&#160;</td>
              <td style="width: 2.02%; vertical-align: bottom; background-color: rgb(254, 254, 254);">&#160;<br>
              </td>
              <td style="width: 92.94%; vertical-align: top; background-color: rgb(254, 254, 254);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top; background-color: rgb(254, 254, 254);">
                <div><a href="ex99-1.htm">99.1</a></div>
              </td>
              <td style="width: 2.02%; vertical-align: bottom; background-color: rgb(254, 254, 254);">&#160;</td>
              <td style="width: 92.94%; vertical-align: top; background-color: rgb(254, 254, 254);">
                <div><a href="ex99-1.htm">Press Release dated May 6, 2025</a></div>
              </td>
            </tr>

        </table>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
        </div>
        <div>&#160; </div>
        <div style="text-align: center; color: #000000; font-weight: bold;">SIGNATURES</div>
        <div><br>
        </div>
        <div>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
        <div><br>
        </div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z45ee5ebca63e4194bafa03fb570d9615">

            <tr>
              <td style="width: 47.95%; vertical-align: top;">&#160;</td>
              <td style="width: 4.08%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>DHT Holdings, Inc.</div>
              </td>
              <td style="width: 13%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 47.95%; vertical-align: top;">&#160;</td>
              <td style="width: 4.08%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top;">
                <div>(Registrant)</div>
              </td>
              <td style="width: 13%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 47.95%; vertical-align: top;">&#160;</td>
              <td style="width: 4.08%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top;">&#160;</td>
              <td style="width: 13%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 47.95%; vertical-align: top;">
                <div>Date: May 7, 2025</div>
              </td>
              <td style="width: 4.08%; vertical-align: top;">
                <div>By:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Laila C. Halvorsen<br>
              </td>
              <td style="width: 13%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 47.95%; vertical-align: top;">&#160;</td>
              <td style="width: 4.08%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: bottom;">
                <div>Name:</div>
              </td>
              <td style="width: 31%; vertical-align: bottom;">
                <div>Laila C. Halvorsen</div>
              </td>
              <td style="width: 13%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 47.95%; vertical-align: top;">&#160;</td>
              <td style="width: 4.08%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;">
                <div>Title:</div>
              </td>
              <td style="width: 31%; vertical-align: top;">
                <div>Chief Financial Officer</div>
              </td>
              <td style="width: 13%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 47.95%; vertical-align: top;">&#160;</td>
              <td style="width: 4.08%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top;">&#160;</td>
              <td style="width: 13%; vertical-align: top;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
      </div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>PRESS RELEASE DATED MAY 6, 2025
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Cravath, Swaine & Moore LLP
         Document created using Broadridge PROfile 25.3.1.5296
         Copyright 1995 - 2025 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: Arial; font-size: 10pt; text-align: left; color: rgb(0, 0, 0);">
  <!--PROfilePageNumberReset%Num%1%%%-->
  <div style="font-weight: bold; text-align: right;"><font style="font-family: 'Times New Roman';">Exhibit 99.1</font><br>
  </div>
  <div> <br>
  </div>
  <div> <img src="dht_logo.jpg"></div>
  <div> <br>
  </div>
  <div> <br>
  </div>
  <div>
    <div style="text-align: center; text-indent: 8.5pt; margin-left: 8.5pt; font-size: 14pt; font-weight: bold;">DHT Holdings, Inc. First Quarter 2025 Results</div>
    <div><br>
    </div>
    <div style="margin-right: 24.6pt; color: rgb(0, 0, 0);">HAMILTON, BERMUDA, May 6, 2025 &#8211; DHT Holdings, Inc. (NYSE: DHT) (&#8220;DHT&#8221; or the &#8220;Company&#8221;) today announced:</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">FINANCIAL HIGHLIGHTS:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="2" border="0" id="z2b0a7e77fc074975b05fa33bafba2cc5" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-width: 2px; border-style: solid; border-color: rgb(127, 127, 127) rgb(53, 155, 138) rgb(0, 0, 0) rgb(127, 127, 127);">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">USD mill. (except per share)</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; background-color: #D9D9D9; border-right: #359B8A 2px solid; border-top: #359B8A 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q1 2025</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; background-color: #D9D9D9; border-left: #359B8A 2px solid; border-right: #000000 2px solid; border-top: #808080 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q4 2024</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; background-color: #D9D9D9; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #808080 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q3 2024</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; background-color: #D9D9D9; border-left: #000000 2px solid; border-right: #808080 2px solid; border-top: #808080 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q2 2024</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; background-color: #D9D9D9; border-left: #808080 2px solid; border-right: #808080 2px solid; border-top: #808080 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q1 2024</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; background-color: #D9D9D9; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid; border-top: #7F7F7F 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">2024</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; background-color: #D9D9D9; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid; border-top: #7F7F7F 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">2023</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138); border-top: 2px solid rgb(0, 0, 0);">
            <div style="color: rgb(0, 0, 0);">Shipping revenues</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">118.2</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">130.8</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">141.1</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">150.1</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">145.9</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">567.8</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid; border-top: #000000 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">556.1</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Adjusted net revenues<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid;">
            <div style="text-align: right; font-weight: bold;">79.3</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">85.5</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">92.6</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">103.7</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">106.3</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">388.2</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">390.4</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Adjusted EBITDA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid;">
            <div style="text-align: right; font-weight: bold;">56.4</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">60.6</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">70.4</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">80.0</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">83.7</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">294.6</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">302.0</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Profit/(loss) after tax</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid;">
            <div style="text-align: right; font-weight: bold;">44.1</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">54.7</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">35.2</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">44.5</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">47.1</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">181.5</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">161.4</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">EPS &#8211; basic</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid;">
            <div style="text-align: right; font-weight: bold;">0.27</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.34</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.22</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.27</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.29</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">1.12</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">0.99</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">EPS &#8211; diluted<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid;">
            <div style="text-align: right; font-weight: bold;">0.27</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.34</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.22</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.27</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.29</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">1.12</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">0.99</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Dividend<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup></div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid;">
            <div style="text-align: right; font-weight: bold;">0.15</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.17</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.22</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.27</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">0.29</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">0.95</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">0.99</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Interest bearing debt</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid;">
            <div style="text-align: right; font-weight: bold;">364.1</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">409.4</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">407.6</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">414.6</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">397.8</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">409.4</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">428.7</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Cash and cash equivalents</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid;">
            <div style="text-align: right; font-weight: bold;">80.5</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">78.1</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">73.8</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">72.6</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid;">
            <div style="text-align: right;">73.1</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">78.1</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">74.7</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138); border-bottom: 2px solid rgb(127, 127, 127);">
            <div style="color: rgb(0, 0, 0);">Net debt</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-right: #359B8A 2px solid; border-bottom: #359B8A 2px solid;">
            <div style="text-align: right; font-weight: bold;">283.6</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #359B8A 2px solid; border-right: #808080 2px solid; border-bottom: #808080 2px solid;">
            <div style="text-align: right;">331.3</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid; border-bottom: #808080 2px solid;">
            <div style="text-align: right;">333.8</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid; border-bottom: #808080 2px solid;">
            <div style="text-align: right;">342.0</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #808080 2px solid; border-right: #808080 2px solid; border-bottom: #808080 2px solid;">
            <div style="text-align: right;">324.7</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid; border-bottom: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">331.3</div>
          </td>
          <td style="width: 10.27%; vertical-align: middle; border-left: #7F7F7F 2px solid; border-right: #7F7F7F 2px solid; border-bottom: #7F7F7F 2px solid;">
            <div style="text-align: right; color: rgb(0, 0, 0);">354.0</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0); font-weight: bold;">QUARTERLY HIGHLIGHTS:</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zfd4c17e812654e0dbd86e46a24ae0636" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 18.15pt; vertical-align: top;">&#9679;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: rgb(0, 0, 0);">In the first quarter of 2025, the Company achieved average combined time charter equivalent earnings of $38,200 per day, comprised of $36,300 per day
                for the Company&#8217;s VLCCs operating in the spot market and $42,700 per day for the Company&#8217;s VLCCs on time charter.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z3c38c503dc9541bcab9c311bed10caad" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 17.85pt; vertical-align: top; text-align: right;">
              <div style="text-align: left;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; text-indent: 0.15pt;">Adjusted EBITDA for the <font style="color: rgb(0, 0, 0);">first quarter of 2025</font> was $56.4 million. Net
                profit for the quarter was $44.1 million, equating to $0.27 per basic share. After adjusting for the $19.8 million gain on sale of vessel, related to the sale of DHT Scandinavia, the Company had a net profit for the quarter of $24.3
                million, equating to $0.15 per basic share.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z23a8d0665b204a91a64bef9cbfde44d0" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 17.85pt; vertical-align: top; text-align: right;">
              <div style="text-align: left;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; text-indent: 0.15pt;">In December 2024, the Company entered into an agreement to sell the DHT Scandinavia, a 2006 built VLCC, for $43.4 million, resulting in a gain of
                $19.8 million in the first quarter of 2025. The vessel had no outstanding debt and was delivered to its new owner in January 2025.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z52ff11f4462d4f079c519e71e8599f8d" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: rgb(0, 0, 0);">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: rgb(0, 0, 0);">In January 2025, the Company entered into a one-year time charter contract for DHT China, built 2007. The time charter contract has a rate of $40,000
                per day. The vessel was delivered into the time charter contract in January.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z5a002460d7ca4dc882c901e4f411807d" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 17.85pt; vertical-align: top; text-align: right;">
              <div style="text-align: left;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; text-indent: 0.15pt;">In March 2025, the Company entered into a one-year time charter contract for DHT Tiger, built 2017, with a global energy company. The time charter
                contract has a rate of $52,500 per day. DHT Tiger was delivered into the time charter contract at the end of March 2025.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z5a1fdd75e2cc43a6979263de1dfd5976" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 17.85pt; vertical-align: top; text-align: right;">
              <div style="text-align: left;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; text-indent: 0.15pt;">In the first quarter of 2025, the Company paid $25.6 million in installments under its newbuilding program.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z6229e42f80c24bca9a19f0277b2086ca" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 0.15pt; font-weight: bold;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">For the first quarter of 2025, the Company declared a cash dividend of $0.15 per share of outstanding common stock, payable on May 28, 2025, to shareholders of record as
                of May 21, 2025. This marks the 61<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup> consecutive quarterly cash dividend and is in line with the Company&#8217;s capital allocation policy to pay out 100% of ordinary net income. The shares will trade ex-dividend from May 21, 2025.</div>
            </td>
          </tr>

      </table>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">1</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">OPERATIONAL HIGHLIGHTS:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="2" border="0" id="z620eff030528460cb4ef8888fbe5b716" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-width: 2px; border-style: solid; border-color: rgb(127, 127, 127) rgb(53, 155, 138) rgb(0, 0, 0) rgb(127, 127, 127);">&#160;</td>
          <td style="width: 10%; vertical-align: middle; background-color: rgb(217, 217, 217); border-top: 2px solid rgb(53, 155, 138); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q1 2025</div>
          </td>
          <td style="width: 10%; vertical-align: middle; background-color: rgb(217, 217, 217); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128) rgb(128, 128, 128) rgb(0, 0, 0) rgb(53, 155, 138);">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q4 2024</div>
          </td>
          <td style="width: 10%; vertical-align: middle; background-color: rgb(217, 217, 217); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128) rgb(128, 128, 128) rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q3 2024</div>
          </td>
          <td style="width: 10%; vertical-align: middle; background-color: rgb(217, 217, 217); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128) rgb(128, 128, 128) rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q2 2024</div>
          </td>
          <td style="width: 10%; vertical-align: middle; background-color: rgb(217, 217, 217); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128) rgb(128, 128, 128) rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Q1 2024</div>
          </td>
          <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(217, 217, 217); border-width: 2px; border-style: solid; border-color: rgb(127, 127, 127) rgb(127, 127, 127) rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">2024</div>
          </td>
          <td style="width: 10%; vertical-align: middle; background-color: rgb(217, 217, 217); border-width: 2px; border-style: solid; border-color: rgb(127, 127, 127) rgb(127, 127, 127) rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">2023</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138); border-top: 2px solid rgb(0, 0, 0);">
            <div style="color: rgb(0, 0, 0);">Operating days<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup></div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">2,084.2</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0);">2,208.0</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0);">2,208.0</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0);">2,184.0</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0);">2,184.0</div>
          </td>
          <td nowrap="nowrap" style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0);">8,784.0</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127); border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(0, 0, 0);">8,548.7</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Scheduled off hire days</div>
          </td>
          <td style="width: 10%; vertical-align: middle;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">-</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">1.0</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">23.9</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">8.1</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">60.2</div>
          </td>
          <td nowrap="nowrap" style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right; color: rgb(0, 0, 0);">93.1</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right; color: rgb(0, 0, 0);">251.8</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Unscheduled off hire<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup></div>
          </td>
          <td style="width: 10%; vertical-align: middle;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">0.0%</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">0.1%</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">0.0%</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">2.8%*</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">1.5%*</div>
          </td>
          <td nowrap="nowrap" style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right; color: rgb(0, 0, 0);">1.1%</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right; color: rgb(0, 0, 0);">0.9%</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Revenue days<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup></div>
          </td>
          <td style="width: 10%; vertical-align: middle;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">2,076.9</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">2,205.8</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">2,184.4</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">2,114.0</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">2,090.8</div>
          </td>
          <td nowrap="nowrap" style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right; color: rgb(0, 0, 0);">8,594.9</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right; color: rgb(0, 0, 0);">8,221.0</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">Spot exposure<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup></div>
          </td>
          <td style="width: 10%; vertical-align: middle;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">70.6%</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">73.4%</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">74.5%</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">78.5%</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">79.2%</div>
          </td>
          <td nowrap="nowrap" style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right; color: rgb(0, 0, 0);">76.4 %</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right; color: rgb(0, 0, 0);">75.6 %</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138);">
            <div style="color: rgb(0, 0, 0);">VLCC time charter rate per day</div>
          </td>
          <td style="width: 10%; vertical-align: middle;">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">$42,700</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">$40,500</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">$38,800</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">$36,400</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">$39,500</div>
          </td>
          <td nowrap="nowrap" style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right;">$38,900</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right;">$36,400</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 30%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(127, 127, 127); border-right: 2px solid rgb(53, 155, 138); border-bottom: 2px solid rgb(127, 127, 127);">
            <div style="color: rgb(0, 0, 0);">VLCC spot rate per day</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(53, 155, 138);">
            <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">$36,300</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(53, 155, 138); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">$38,200</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">$43,700</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">$52,700</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">$54,000</div>
          </td>
          <td nowrap="nowrap" style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right;">$47,200</div>
          </td>
          <td style="width: 10%; vertical-align: middle; border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(127, 127, 127); border-bottom: 2px solid rgb(127, 127, 127);">
            <div style="text-align: right;">$51,200</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">*</sup><font style="font-size: 8pt;">In Q2 2024 one vessel underwent unscheduled repairs, accounting for the
        predominant part of the unscheduled off hire for the quarter. In Q1 2024 two vessels underwent unscheduled repairs, accounting for the unscheduled off hire for the quarter.</font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);">The global markets experienced volatility following the announcements of various tariffs.&#160;Without clarity on objectives and outcomes, the process causes
      uncertainty, hence we think it&#8217;s too early to know the true implications for global economic growth and trade.</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);">However, we reiterate our view that the dynamics of our market is increasingly a favorable supply story, with a rapidly aging fleet exceeding a benign orderbook of
      new ships, and a string of sanctions making it increasingly challenging to trade ships in the &#8220;shadow fleet&#8221;. OPEC has modestly started to bring more of its oil to the markets, contributing to strengthening freight rates evidenced by new highs for
      the year and higher lows.&#160;We appreciate OPEC&#8217;s decision and believe it to, amongst others, be supported by continued oil demand growth, a temporarily moderating growth trajectory of Atlantic based oil production offering an opportunity to regain some
      market share, low inventories in China requiring refilling to support growth and new refining capacity coming on stream, and certain sanctioned oil production being at risk with the possible need for replacement.</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);">We experience strong demand for our quality fleet and services, presenting opportunities for DHT.&#160;We have what we believe is a resilient strategy with a focus on
      solid customer relations offering safe and reliable services, maintaining a competitive cost structure with robust break-even levels, a solid balance sheet, and a clear capital allocation policy. The whole DHT team continues to work hard and operate
      with leading governance standards and a high level of integrity.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">As of March 31, 2025, DHT had a fleet of 23 VLCCs, with a total dwt of 7,161,351. For more details on the fleet, please refer to the web site: <font style="color: rgb(0, 0, 255);"><u>https://www.dhtankers.com/fleetlist/</u></font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">SUBSEQUENT EVENT HIGHLIGHTS:</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zf331d60f1bf64bdfb718a844cbae6cc1" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: rgb(0, 0, 0);">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: rgb(0, 0, 0);">In April 2025, the Company entered into a seven-year time charter contract for DHT Appaloosa, built 2018, with a global energy company. The time
                charter contract has a fixed base rate of $41,000 per day plus an index-based profit-sharing structure calculated on the ship&#8217;s specifications. All index-based earnings in excess of $41,000 per day will be shared equally between the
                customer and DHT. The customer has the option to extend for two additional years. DHT Appaloosa is expected to deliver into the time charter contract in May 2025.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z3320cd70b6cd44f4933a15c522197a37" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 17.85pt; vertical-align: top; text-align: right;">
              <div style="text-align: left;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; text-indent: 0.15pt;">In April 2025, the Company entered into an agreement to sell DHT Lotus and DHT Peony for a combined price of $103.0 million. Both vessels were built
                at Bohai Shipbuilding Heavy Industry Co, China, in 2011. DHT Lotus was delivered to the new owner on April 29, 2025, and DHT Peony is expected to be delivered in July 2025. After repayment of existing debt on the vessels, amounting to $15.9
                million in aggregate, the transaction is expected to generate net cash proceeds of approximately $85.0 million. The Company expects to record gains of $17.5 million and $15.5 million in the second quarter and third quarter, respectively.
                The vessels were acquired in 2017 as part of the acquisition of BW Group&#8217;s VLCC fleet for an aggregate price of $115.8 million.</div>
            </td>
          </tr>

      </table>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">2</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zebf4337bddba46c8a322fa444442fedb" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: rgb(0, 0, 0);">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">In April 2025, the Company acquired an additional 46.8% ownership of Goodwood Ship Management Pte. Ltd., a privately owned ship management company incorporated under the
                laws of the Republic of Singapore, for a purchase price of $6.1 million in cash. Following the acquisition, Goodwood Ship Management Pte. Ltd. is 100% owned by DHT Holdings, Inc.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z1ccfb36d5da549a9a06c275e68b27cdb" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">In April 2025, the Company entered into a new secured credit agreement with Nordea Bank Abp for a $30 million reducing revolving credit facility to refinance the
                outstanding amount under the secured term loan facility with Danish Ship Finance A/S that financed DHT Jaguar. The credit facility bears interest at a rate equal to SOFR plus a margin of 1.75%, has a final maturity in April 2031, and is
                otherwise in line with the &#8220;DHT style financing&#8221;.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z8ac0178f56aa4d09a025500a92339c70" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: rgb(0, 0, 0);">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">In April 2025, the Company published its 2024 Sustainability Report which is available on DHT&#8217;s website www.dhtankers.com/esg/.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">OUTLOOK:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="2" border="0" id="z7ec9ffaa533148afb0cdf512a79a46ca" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="width: 75%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(255, 255, 255);">&#160;</div>
          </td>
          <td style="width: 25%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-width: 2px; border-style: solid; border-color: rgb(128, 128, 128) rgb(128, 128, 128) rgb(128, 128, 128) rgb(166, 166, 166);">
            <div style="text-align: right; font-weight: bold;">Estimated</div>
            <div style="text-align: right; font-weight: bold;">Q2 2025</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 75%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(0, 0, 0);">Total term time charter days</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-left: 2px solid rgb(166, 166, 166); border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">780</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 75%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(0, 0, 0);">Average term time charter rate ($/day)</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-left: 2px solid rgb(166, 166, 166); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">$ 42,200</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 75%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(0, 0, 0);">Total spot days for the quarter</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-left: 2px solid rgb(166, 166, 166); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">1,245</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 75%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(0, 0, 0);">Spot days booked to date</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-left: 2px solid rgb(166, 166, 166); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">895</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 75%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(0, 0, 0);">Average spot rate booked to date ($/day)</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-left: 2px solid rgb(166, 166, 166); border-right: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">&#160;$ 48,700</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 75%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(0, 0, 0);">Spot P&amp;L break-even for the quarter</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-left: 2px solid rgb(166, 166, 166); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="text-align: right; color: rgb(0, 0, 0);">&#160;$ 17,500</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-size: 8pt;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">*</sup> The month of April includes profit-sharing. The months of May and June assume only the base rate.</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z4c78c37a6b614c75a6056db6ec1c0637" class="DSPFListTable" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 17.55pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: rgb(0, 0, 0);">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; text-indent: 0.45pt;">Thus far in the second quarter of 2025, 72% of the available VLCC spot days have been booked at an average rate of $48,700 per day on a
                discharge-to-discharge basis. 83% of the available VLCC days, combined spot and time charter days, have been booked at an average rate of $45,700 per day.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 4.25pt; font-size: 8pt;"><u>Footnotes:</u></div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>Shipping revenues net of voyage expenses.</div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>Total revenues net of voyage expenses, vessel operating expenses and general and administrative expenses.</div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>Diluted shares include the dilutive effect of the restricted shares granted to management and members of the board of directors.</div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup>Per common share.</div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup>Operating days are the aggregate number of calendar days in the period in which the vessels are owned by the Company or chartered by
      the Company.</div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>As % of total operating days in period.</div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup>Revenue days are the aggregate number of calendar days in the period in which the vessels are owned by the Company or chartered by
      the Company less days on which a vessel is off hire or repositioning days in connection with sale.</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">3</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0); font-weight: bold;"><u>FIRST QUARTER 2025 FINANCIALS</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">The Company reported shipping revenues for the first quarter of 2025 of $118.2 million compared to shipping
        revenues of $145.9 million in the first quarter of 2024.</font>&#160;<font style="color: rgb(0, 0, 0);">The decrease from the 2024 period to the 2025 period includes $26.7 million attributable to lower time charter
        equivalent rates and $1.0 million attributable to a decrease in total revenue days.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Other revenues for the first quarter of 2025 were $0.4 million compared to $1.2 million in the first quarter of 2024 and relate to technical management services
      provided. The decrease is due to a reduction in the fleet size for which the Company provides technical management services.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The Company recorded a gain of $19.8 million in the first quarter of 2025 related to the sale of DHT Scandinavia. There was no gain on sale of vessel in the
      first quarter of 2024.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Voyage expenses for the first quarter of 2025 were $38.8 million, compared to voyage expenses of $39.5 million in the first quarter of 2024. The change was
      related to a decrease in bunker expenses of $1.2 million and a decrease in broker commission of $0.3 million, partially offset by an increase in other voyage-related costs of $0.5 million and an increase in port expenses of $0.4 million. Voyage
      expenses will generally vary depending on the actual trading patterns during a quarter.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Vessel operating expenses for the first quarter of 2025 were $17.8 million compared to $19.2 million in the first quarter of 2024. The decrease was mainly due
      to a decrease in insurance expenses of $1.1 million, a decrease in other operating expenses of $0.9 million and a decrease in lube oil of $0.3 million, partially offset by an increase in spares and consumables of $0.5 million and an increase in
      crewing expenses of $0.3 million.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Depreciation and amortization, including depreciation of capitalized survey expenses, was $27.3 million for the first quarter of 2025, compared to $28.3 million
      in the first quarter of 2024. The decrease was mainly due to decreased depreciation of drydocking and exhaust gas cleaning systems of $0.9 million.</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);">General and administrative (&#8220;G&amp;A&#8221;) expense for the first quarter of 2025 was $5.5 million, consisting of $3.8 million cash and $1.7 million non-cash charges,
      compared to $4.7 million in the first quarter of 2024, consisting of $3.8 million cash and $0.9 million non-cash charges. The increase in non-cash G&amp;A expense from the first quarter of 2024 to the first quarter of 2025 resulted from shares vested
      in the first quarter of 2025. Non-cash G&amp;A expense includes accrual for social security tax.</div>
    <div><br>
    </div>
    <div><font style="color: rgb(0, 0, 0);">Net financial expenses for the first quarter of 2025 were $4.8 million compared to $8.1 million in the first
        quarter of 2024. The decrease was mainly due to</font> decreased interest expenses of $3.7 million, partially offset by a $0.3 million decrease in interest income, due to a decline in interest rates.</div>
    <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);"> </font><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">As a result of the foregoing, the Company had a net profit in the first quarter of 2025 of $44.1 million, or earnings of $0.27 per basic share and $0.27 per
      diluted share, compared to a net profit in the first quarter of 2024 of $47.1 million, or earnings of $0.29 per basic share and $0.29 per diluted share. The decrease from the first quarter of 2024 to the first quarter of 2025 was mainly due to a $6.5
      million decrease in operating income, partially offset by a $3.4 million decrease in net financial expenses.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Net cash provided by operating activities for the first quarter of 2025 was $59.2 million compared to $69.9 million for the first quarter of 2024. The decrease
      was due to a $20.0 million decrease in non-cash items included in net profit, and a net profit of $44.1 million in the first quarter of 2025 compared to a net profit of $47.1 million in the first quarter of 2024, partially offset by a $12.3 million
      change in operating assets and liabilities.</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);">Net cash provided by investing activities was $16.7 million in the first quarter of 2025 and was mainly related to $42.5 million for the sale of DHT Scandinavia,
      partially offset by $25.8 million related to investment in vessels under construction. Net cash used in investing activities was $3.9 million in the first quarter of 2024 and was mainly related to investment in vessels.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Net cash used in financing activities for the first quarter of 2025 was $73.6 million, comprised of $42.4 million related to prepayment of long-term debt, $27.3
      million related to cash dividend paid, and $13.6 million related to scheduled repayment of long-term debt, partially offset by $10 million related to issuance of long-term debt. Net cash used in financing activities for the first quarter of 2024 was
      $67.5 million comprised of $74.0 million related to prepayment of long-term debt, $35.5 million related to cash dividend paid, and $7.6 million related to scheduled repayment of long-term debt, partially offset by $50.0 million related to issuance of
      long-term debt.</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">4</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">As of March 31, 2025, the cash balance </font>was $80.5 million, compared to <font style="color: rgb(0, 0, 0);">$78.1 million as of December 31, 2024.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The Company monitors its covenant compliance on an ongoing basis. As of March 31, 2025, the Company was in compliance with its financial covenants.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">As of March 31, 2025, the Company had 160,607,613 shares of common
        stock outstanding compared to 159,983,104 shares as of December 31, 2024<font style="color: rgb(0, 0, 0);">.</font></div>
    <div><br>
    </div>
    <div><font style="color: rgb(0, 0, 0);">The Company declared a cash dividend of $0.15 per common share for the first quarter of 2025 </font>payable on May 28, 2025, for shareholders of record as of May 21, 2025.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0); font-weight: bold;"><u>RECONCILIATION OF NON-GAAP FINANCIAL MEASURES</u></div>
    <div style="text-align: justify;">The Company assesses the financial performance of its business using a variety of measures. Certain of these measures are termed &#8220;non-GAAP measures&#8221; because they exclude amounts
      that are included in, or include amounts that are excluded from, the most directly comparable measure calculated and presented in accordance with IFRS, or are calculated using financial measures that are not calculated in accordance with IFRS. These
      non-GAAP measures include &#8220;Adjusted Net Revenue&#8221;, &#8220;Adjusted EBITDA&#8221; and &#8220;Adjusted spot time charter equivalent per day&#8221;. The Company believes that these non-GAAP measures provide useful supplemental information for its investors and, when considered
      together with the Company&#8217;s IFRS financial measures and the reconciliation to the most directly comparable IFRS financial measure, provide a more complete understanding of the factors and trends affecting the Company&#8217;s operations. In addition, DHT&#8217;s
      management measures the financial performance of the Company, in part, by using these non-GAAP measures, along with other performance metrics. The Company does not regard these non-GAAP measures as a substitute for, or as superior to, the equivalent
      measures calculated and presented in accordance with IFRS. Additionally, these non-GAAP measures may not be comparable to other similarly titled measures used by other companies and should not be considered in isolation or as a substitute for
      analysis of the Company&#8217;s operating results as reported under IFRS.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">
      <table cellspacing="0" cellpadding="2" border="0" id="z8b4c2f11fd9f41baba73ad480d1fa550" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255);">USD in thousands except time charter equivalent per day</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; background-color: #244062; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid; border-top: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Q1 2025</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; background-color: #244062; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Q4 2024</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; background-color: #244062; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Q3 2024</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; background-color: #244062; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Q2 2024</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; background-color: #244062; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Q1 2024</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">2024</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">2023</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Reconciliation of adjusted net revenue</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Shipping revenues</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;118,165</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;130,768</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;141,125</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;150,066</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;145,876</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;567,835</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">556,075</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Voyage expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(38,828)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(45,233)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(48,484)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(46,370)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(39,537)</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;(179,623)</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(165,667)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Adjusted net revenues</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;79,337</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;85,535</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;92,641</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;103,696</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;106,339</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;388,212</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">390,408</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Reconciliation of adjusted EBITDA</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Profit/(loss) after tax</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;44,051</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;54,711</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;35,189</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;44,489</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;47,072</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;181,460</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">161,397</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Income tax expense</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;84</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;194</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;79</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;129</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;206</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;608</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;649</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Other financial (income)/expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;447</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;445</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;719</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;470</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;454</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;2,088</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,984</div>
            </td>
          </tr>
          <tr>
            <td style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Fair value (gain)/loss on derivative financial liabilities</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;-</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;504</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Interest expense</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;5,106</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;6,384</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;7,318</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;7,921</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;8,775</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;30,399</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">33,061</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Interest income</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;(793)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;(857)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(1,035)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;(935)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(1,091)</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;(3,918)</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(4,485)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">(Gain)/loss, sale of vessel</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(19,795)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;-</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;-</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Reversal of previous impairment charges</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(27,909)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;(27,909)</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;-</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Depreciation and amortization</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;27,270</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;27,621</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;28,135</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;27,878</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;28,250</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;111,884</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">108,902</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Adjusted EBITDA</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;56,370</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;60,588</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;70,406</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;79,953</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;83,666</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;294,612</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">302,012</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Reconciliation of adjusted spot time charter equivalent per day*</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-right: 2px solid rgb(53, 155, 138);">
              <div style="color: rgb(0, 0, 0);">Spot time charter equivalent per day</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-right: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;36,300</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;38,200</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;43,700</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;52,700</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;54,000</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;47,200</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">51,200</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">IFRS 15 impact on spot time charter equivalent per day**</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;1,200</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;200</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(2,800)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(1,500)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;400</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">(900)</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;300</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 44%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Adjusted spot time charter equivalent per day</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-left: #359B8A 2px solid; border-right: #359B8A 2px solid; border-bottom: #359B8A 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;37,500</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;38,400</div>
            </td>
            <td nowrap="nowrap" style="width: 8.07%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;40,900</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;51,200</div>
            </td>
            <td nowrap="nowrap" style="width: 8.09%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;54,400</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;46,300</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">51,500</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;">*<font style="font-size: 10pt;">&#160;</font>Per revenue days. Revenue days are the aggregate number of calendar days in the
      period in which the vessels are owned by the Company or chartered by the Company less days on which a vessel is off hire.</div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;">** For vessels operating on spot charters, voyage revenues are calculated on a discharge-to-discharge basis. Under IFRS 15, spot charter voyage
      revenues are calculated on a load-to-discharge basis. IFRS 15 impact refers to the timing difference between discharge-to-discharge and load-to-discharge basis.</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">5</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0); font-weight: bold;">EARNINGS CONFERENCE CALL AND WEBCAST INFORMATION</div>
    <div><font style="color: rgb(0, 0, 0);">The Company will host a conference call </font>and webcast, which will include a slide presentation,<font style="color: rgb(0, 0, 0);"> at 8:00 a.m. ET/14:00 CET on Wednesday, May 7, 2025,</font><font style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</font><font style="color: rgb(0, 0, 0);">to discuss the results for the quarter.</font></div>
    <div><br>
    </div>
    <div>To access the conference call the participants are required to register using this link:</div>
    <div style="color: rgb(0, 0, 255);"><u>https://register-conf.media-server.com/register/BI730e5593bf5048a1963d38d63155d6a0</u></div>
    <div><br>
    </div>
    <div>Upon registering, each participant will be provided with the dial-in info and a unique PIN to join the call as well as an e-mail confirmation with the details. Participants will need
      to use the conference access information provided in the e-mail received at the point of registering. Participants may also use the &#8220;Call Me&#8221; feature from an immediate callback from the system. The call will come from a US number.</div>
    <div><br>
    </div>
    <div>The webcast, which will include a slide presentation, will be available at the following link:</div>
    <div style="color: rgb(0, 0, 255);"><u>https://edge.media-server.com/mmc/p/p25xcqku and can also be accessed at http://www.dhtankers.com.</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">A recording of the audio and slides presented will be available until May 14, 2025, at 14:00 CET. The
        recording can be accessed through the following link: </font><font style="color: rgb(0, 0, 255);"><u>https://edge.media-server.com/mmc/p/p25xcqku</u></font></div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">ABOUT DHT HOLDINGS, INC.</div>
    <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);">DHT is an independent crude oil tanker company. Our fleet trades </font>internationally and consists of
      crude oil tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experienced organization with focus on first rate
      operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our combination of market exposure and fixed income contracts for our fleet; our disciplined capital allocation
      strategy through cash dividends, investments in vessels, debt prepayments and share buybacks; and our transparent corporate structure maintaining a high level of integrity and corporate governance. <font style="color: rgb(0, 0, 0);">For further information please visit </font><font style="color: rgb(0, 0, 255);"><u>http://www.dhtankers.com.</u></font></div>
    <div><br>
    </div>
    <div style="font-weight: bold;">FORWARD LOOKING STATEMENTS</div>
    <div style="text-align: justify;">This press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions,
      expectations, projections, intentions and beliefs about future events. When used in this document, words such as "believe," "intend," "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should" and "expect" and
      similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company's current views with respect to future events and are based on assumptions
      and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company's estimates and assumptions only as of the date of this
      press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the
      Securities and Exchange Commission on March 20, 2025.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future
      events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company's actual results could differ materially from those
      anticipated in these forward-looking statements.</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);"><font style="font-weight: bold;">CONTACT</font>:</div>
    <div style="color: rgb(0, 0, 0);">Laila C. Halvorsen, CFO</div>
    <div style="color: rgb(0, 0, 0);">Phone: +1 441 295 1422 and +47 984 39 935</div>
    <div><font style="color: rgb(0, 0, 0);">E-mail:</font><font style="color: rgb(0, 0, 255);"><u>&#160;</u></font>lch@dhtankers.com</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">6</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">DHT HOLDINGS, INC.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">AS OF MARCH 31, 2025</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">7</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION</u></div>
    <div style="text-align: center;">($ in thousands)</div>
    <div><br>
    </div>
    <div style="text-align: center;">
      <table cellspacing="0" cellpadding="2" border="0" id="zc5029e2ca2164161a293e1b91ec965d0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Note</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">March 31, 2025 (Unaudited)</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">December 31, 2024 (Audited)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">ASSETS</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Current assets</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Cash and cash equivalents</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">80,510</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">78,143</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Accounts receivable and accrued revenues</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">7</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">50,520</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">53,715</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Capitalized voyage expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">2,645</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">2,450</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Prepaid expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">5,327</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">7,200</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Inventories</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">33,033</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">37,688</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Asset held for sale</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">22,693</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Total current assets</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">172,035</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">201,889</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="font-style: italic; font-weight: bold;">Non-current assets</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Vessels</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">5</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,158,750</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,185,576</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Vessels under construction</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">5</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">120,679</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">93,178</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Other property, plant and equipment</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;&#160;5,218</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">4,589</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Goodwill</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,356</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,356</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Total non-current assets</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,286,003</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,284,698</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">TOTAL ASSETS</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,458,038</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,486,587</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">LIABILITIES AND EQUITY</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Current liabilities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Accounts payable and accrued expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">20,303</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">23,436</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Current portion long-term debt</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">4</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">78,774</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">78,649</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Other current liabilities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,350</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,389</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Deferred shipping revenues</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">8</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">7,501</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">6,139</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Total current liabilities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">107,928</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">109,613</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Non-current liabilities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Long-term debt</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">4</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">285,298</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">330,775</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Other non-current liabilities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">3,355</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">3,497</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Total non-current liabilities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">288,653</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">334,273</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">TOTAL LIABILITIES</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">396,581</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">443,886</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Equity</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Common stock at par value</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">6</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;&#160;1,606</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,600</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Additional paid-in capital</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,221,887</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,217,651</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Accumulated deficit</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(169,485)</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">(186,321)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Translation differences</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">115</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">39</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Other reserves</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">2,881</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">5,273</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Total equity attributable to the Company</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,057,003</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,038,242</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Non-controlling interest</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">4,453</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">4,459</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Total equity</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,061,457</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,042,701</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">TOTAL LIABILITIES AND EQUITY</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">&#160;</td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,458,038</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,486,587</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-style: italic;">The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">8</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED)</u></div>
    <div style="text-align: center;">($ in thousands, except shares and per share amounts)</div>
    <div><br>
    </div>
    <div style="text-align: center;">
      <table cellspacing="0" cellpadding="2" border="0" id="z7ddef5cf7e2741d89a504513f99ab90d" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom; background-color: #244062; border-top: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom; background-color: #244062; border-top: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Q1 2025</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; background-color: #244062; border-right: #808080 2px solid; border-top: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Q1 2024</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Note</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom; background-color: #244062; border-bottom: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td style="width: 21.13%; vertical-align: bottom; background-color: #244062; border-bottom: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Jan. 1 - Mar. 31, 2025</div>
            </td>
            <td style="width: 20.95%; vertical-align: bottom; background-color: #244062; border-bottom: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Jan. 1 - Mar. 31, 2024</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Shipping revenues</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">118,165</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">145,876</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Other revenues</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">409</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,162</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Total revenues</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">3</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">118,574</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">147,038</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Gain on sale of vessel</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">19,795</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">-</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Operating expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Voyage expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(38,828)</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(39,537)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Vessel operating expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(17,828)</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(19,172)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Depreciation and amortization</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">5</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(27,270)</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(28,250)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">General and administrative expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;&#160;(5,548)</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;&#160;(4,664)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Total operating expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">(89,474)</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">(91,622)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Operating (loss)/ income</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">48,895</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">55,416</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Interest income</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">793</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">1,091</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Interest expense</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(5,106)</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(8,775)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Other financial (expense)/income</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(447)</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(454)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Profit/(loss) before tax</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;44,135</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;47,278</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Income tax expense</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(84)</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(206)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Profit/(loss) after tax</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">&#160;&#160;44,051</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">&#160;&#160;47,072</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Attributable to owners of non-controlling interest</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(71)</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right;">181</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Attributable to the owners of parent</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;44,122</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right;">&#160;&#160;46,890</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Attributable to the owners of parent</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Basic earnings/(loss) per share</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;0.27</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;0.29</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Diluted earnings/(loss) per share</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;0.27</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;0.29</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Weighted average number of shares (basic)</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom;">
              <div style="text-align: right;">160,495,965</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid;">
              <div style="text-align: right;">161,311,231</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Weighted average number of shares (diluted)</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3.1%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 21.13%; vertical-align: bottom; border-bottom: #808080 2px solid;">
              <div style="text-align: right;">160,558,807</div>
            </td>
            <td nowrap="nowrap" style="width: 20.95%; vertical-align: bottom; border-right: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right;">161,425,054</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-style: italic;">The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">9</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)</u></div>
    <div style="text-align: center;">($ in thousands)</div>
    <div><br>
    </div>
    <div style="text-align: center;">
      <table cellspacing="0" cellpadding="2" border="0" id="z65e625bd3c8b474c9263c4500772217e" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Q1 2025</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Q1 2024</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Note</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Jan. 1 - Mar. 31, 2025</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Jan. 1 - Mar. 31, 2024</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Profit/(loss) after tax</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">44,051</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">47,072</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Other comprehensive income/(loss):</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-style: italic;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-style: italic;">Items that may be reclassified subsequently to income statement:</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Exchange gain/(loss) on translation of foreign currency</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">denominated associate and subsidiary</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;141</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">(177)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Total</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;141</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">(177)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Other comprehensive income/(loss)</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;141</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">(177)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Total comprehensive income/(loss) for the period</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">44,192</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">46,895</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Attributable to owners of non-controlling interest</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">(6)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;&#160;108</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Attributable to the owners of parent</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 2%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(0, 0, 0);">$</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">44,198</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0);">46,786</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-style: italic;">The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">10</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW (UNAUDITED</u>)</div>
    <div style="text-align: center;">($ in thousands)</div>
    <div><br>
    </div>
    <div style="text-align: center; text-indent: 9.95pt;">
      <table cellspacing="0" cellpadding="2" border="0" id="z19c0cdec35874bb79639b00e0e27cf90" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Q1 2025</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Q1 2024</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Note</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Jan. 1 - Mar. 31, 2025</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Jan. 1 - Mar. 31, 2024</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">CASH FLOW FROM OPERATING ACTIVITIES</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Profit/(loss) after tax</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">44,051</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">47,072</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Items included in net income not affecting cash flows</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">9,997</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">29,957</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Depreciation and amortization</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">5</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">27,270</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">28,250</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Amortization of deferred debt issuance cost</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;601</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;680</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">(Gain) / loss, sale of vessel</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;(19,795)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;-</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Compensation related to options and restricted stock</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;1,850</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;991</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Net foreign exchange differences</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">70</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">35</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Income adjusted for non-cash items</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">54,048</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">77,028</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Changes in operating assets and liabilities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">5,164</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">&#160;(7,161)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Accounts receivable and accrued revenues</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;2,517</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(4,713)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Capitalized voyage expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(195)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(2,129)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Prepaid expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;1,873</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;5,907</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Accounts payable and accrued expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(5,047)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;1,793</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Deferred shipping revenues</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;1,362</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(4,394)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="margin-left: 8.35pt; color: rgb(0, 0, 0); font-style: italic;">Inventories</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="color: rgb(255, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;4,655</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(3,625)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Net cash provided by operating activities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">59,212</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">69,867</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">CASH FLOW FROM INVESTING ACTIVITIES</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Investment in vessels</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;-</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(3,832)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Investment in vessels under construction</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;(25,809)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(43)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Proceeds from sale of vessel</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">42,489</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;&#160;-</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Investment in other property, plant and equipment</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;(5)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;(3)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Net cash provided by/(used in) investing activities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">16,675</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;(3,878)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">CASH FLOW FROM FINANCING ACTIVITIES</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(53, 155, 138); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Cash dividends paid</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">6</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;(27,286)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;(35,492)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Repayment principal element of lease liability</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(353)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(340)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Issuance of long-term debt</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">4</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">10,000</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">50,000</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Scheduled repayment of long-term debt</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;(13,554)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">(7,625)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Prepayment of long-term debt</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">4</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;(42,400)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; font-style: italic;">&#160;(74,000)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Net cash used in financing activities</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;(73,593)</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;&#160;(67,457)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Net (decrease)/increase in cash and cash equivalents</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">2,294</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;(1,468)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Net foreign exchange difference</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;73</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;(194)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Cash and cash equivalents at beginning of period</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right;">78,143</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right;">74,738</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Cash and cash equivalents at end of period</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">$</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">80,510</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">73,076</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Specification of items included in operating activities:</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Interest paid</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right;">5,832</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom;">
              <div style="text-align: right;">7,617</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 45%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Interest received</div>
            </td>
            <td nowrap="nowrap" style="width: 5%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(0, 0, 0);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">155</div>
            </td>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">256</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-style: italic;">The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">11</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #bfbfbf; background-color: #bfbfbf;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>SUMMARY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)</u></div>
    <div style="text-align: center;">($ in thousands, except shares)</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="2" border="0" id="zb5782bf4f2ff4ed5b90eda9ac2596ee7" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom; background-color: rgb(36, 64, 98);">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom; background-color: #244062;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Paid-in</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Non-</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom; background-color: rgb(36, 64, 98);">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom; background-color: #244062;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Additional</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Accumulated</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Translation</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Other</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Controlling</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Total</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Note</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Shares</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom; background-color: #244062; border-bottom: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Amount</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Capital</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Deficit</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Differences</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Reserves</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Interest</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; background-color: rgb(36, 64, 98); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">Equity</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">Balance at January 1, 2024</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">160,999,542</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">1,610</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">1,228,254</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">(206,477)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">201</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">3,566</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">4,513</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;&#160;1,031,667</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt;">Profit/(loss) after tax</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">46,890</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">181</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">47,072</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt;">Other comprehensive income/(loss)</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">-</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">(104)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;(73)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;(177)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt;">Total comprehensive income/(loss)</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">46,890</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">(104)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">108</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">46,895</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt;">Cash dividends declared and paid</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;(35,492)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">(35,492)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="font-size: 8pt;">Compensation related to options and restricted stock</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;&#160;329,810</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">3</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">1,651</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;(664)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;991</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">Balance at March 31, 2024</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">161,329,352</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">1,613</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">1,229,905</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">(195,079)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">97</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">2,902</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">4,622</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;&#160;1,044,059</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom;">
              <div style="color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom;">
              <div style="color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">Balance at January 1, 2025</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">159,983,104</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">1,600</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">1,217,651</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">(186,321)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">39</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">5,273</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">4,459</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;&#160;1,042,701</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt;">Profit/(loss) after tax</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">44,122</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;(71)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">44,051</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt;">Other comprehensive income/(loss)</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">-</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">76</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;65</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;141</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt;">Total comprehensive income/(loss)</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">44,122</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">76</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">&#160;&#160;(6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-size: 8pt;">44,192</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt;">Cash dividends declared and paid</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;(27,286)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">(27,286)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="font-size: 8pt;">Compensation related to options and restricted stock</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;&#160;624,509</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td style="width: 5.78%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">6</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">4,236</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">(2,392)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt;">&#160;&#160;1,850</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 34%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">Balance at March 31, 2025</div>
            </td>
            <td nowrap="nowrap" style="width: 4%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">6</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">160,607,613</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 5.78%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">1,606</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">1,221,887</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">(169,485)</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">115</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">2,881</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">4,453</div>
            </td>
            <td nowrap="nowrap" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;$</div>
            </td>
            <td nowrap="nowrap" style="width: 7%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-size: 8pt; font-weight: bold;">&#160;&#160;1,061,457</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-style: italic;">The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">12</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>NOTES TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</u></div>
    <div style="text-align: center; font-weight: bold;"><u>FOR THE PERIOD ENDED MARCH 31, 2025</u></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 1 &#8211; General information</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">DHT Holdings, Inc. (&#8220;DHT&#8221; or the &#8220;Company&#8221;) is a company incorporated under the laws of the Marshall Islands whose shares are listed on the New York Stock
      Exchange. The Company&#8217;s principal executive office is located at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda. The Company is engaged in the ownership and operation of a fleet of crude oil carriers.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The unaudited interim condensed consolidated financial statements were approved by the Company&#8217;s Board of Directors (the &#8220;Board&#8221;) on May 5, 2025, and authorized
      for issue on May 6, 2025.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 2 &#8211; General accounting principles</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The interim condensed consolidated financial statements do not include all information and disclosures required in the annual financial statements and should be
      read in conjunction with DHT&#8217;s audited consolidated financial statements included in its Annual Report on Form 20-F for 2024. The interim results are not necessarily indicative of the results for the entire year or for any future periods.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The interim condensed consolidated financial statements have been prepared in accordance with IAS 34 &#8220;Interim Financial Reporting&#8221; as issued by the
      International Accounting Standards Board (&#8220;IASB&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The interim condensed consolidated financial statements have been prepared on a historical cost basis. The accounting policies applied in these condensed
      consolidated interim financial statements are consistent with those presented in the 2024 audited consolidated financial statements.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">These interim condensed consolidated financial statements have been prepared on a going concern basis.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 3 &#8211; Segment reporting</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">DHT&#8217;s primary business is operating a fleet of crude oil tankers, with a secondary activity of providing technical management services. The Company is organized
      and managed as one segment based on the nature and financial effects of the business activities in which it engages and the economic environment in which it operates. The consolidated operating results are regularly reviewed by the Company&#8217;s chief
      operating decision maker, the President &amp; Chief Executive Officer, and the Company does not monitor performance by geographical areas.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The table below details the Company&#8217;s total revenues:</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);"> <br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">
      <div style="color: rgb(0, 0, 0);">
        <div>
          <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

              <tr>
                <td style="background-color: rgb(37, 64, 97); border-left: 2px solid; border-top: 2px solid rgb(0, 0, 0); vertical-align: top; width: 50%;">
                  <div style="color: rgb(255, 255, 255); font-weight: bold;">$ in thousands</div>
                </td>
                <td style="background-color: rgb(37, 64, 97); border-top: 2px solid rgb(0, 0, 0); vertical-align: top; width: 2.3%;">&#160;</td>
                <td style="background-color: rgb(37, 64, 97); border-top: 2px solid rgb(0, 0, 0); vertical-align: top; width: 24%;">
                  <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Q1 2025</div>
                </td>
                <td style="background-color: rgb(37, 64, 97); border-top: 2px solid rgb(0, 0, 0); vertical-align: top; width: 24%;">
                  <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Q1 2024</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top; background-color: rgb(192, 192, 192); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="color: rgb(0, 0, 0);">Time charter revenues<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
                </td>
                <td style="width: 2.3%; vertical-align: top;">&#160;</td>
                <td style="width: 24%; vertical-align: top; text-align: right;">
                  <div style="color: rgb(0, 0, 0);">26,695</div>
                </td>
                <td style="width: 24%; vertical-align: top; text-align: right;">
                  <div style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 18,190</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top; background-color: rgb(192, 192, 192); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="color: rgb(0, 0, 0);">Voyage charter revenues<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
                </td>
                <td style="width: 2.3%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
                  <div style="color: rgb(0, 0, 0);">91,470</div>
                </td>
                <td style="width: 24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
                  <div style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;127,686</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top; background-color: rgb(192, 192, 192); border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="color: rgb(0, 0, 0); font-weight: bold;">Shipping revenues</div>
                </td>
                <td style="width: 2.3%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 24%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
                  <div style="color: rgb(0, 0, 0); font-weight: bold;">118,165</div>
                </td>
                <td style="width: 24%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
                  <div style="color: rgb(0, 0, 0); font-weight: bold;">145,876<br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top; background-color: rgb(192, 192, 192); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="color: rgb(0, 0, 0);">Other revenues<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
                </td>
                <td style="width: 2.3%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
                  <div style="color: rgb(0, 0, 0);">409<br>
                  </div>
                </td>
                <td style="width: 24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
                  <div style="color: rgb(0, 0, 0);">&#160;1,162</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top; background-color: rgb(192, 192, 192); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="color: rgb(0, 0, 0); font-weight: bold;">Total revenues</div>
                </td>
                <td style="width: 2.3%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 24%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
                  <div style="color: rgb(0, 0, 0); font-weight: bold;">118,574<br>
                  </div>
                </td>
                <td style="width: 24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
                  <div style="color: rgb(0, 0, 0); font-weight: bold;">
                    <div style="color: rgb(0, 0, 0);">147,038</div>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top; background-color: rgb(192, 192, 192); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
                  <div style="margin-left: 9pt">Revenues relating to IFRS 15<br>
                  </div>
                </td>
                <td style="width: 2.3%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">&#160;</td>
                <td style="width: 24%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-align: right; font-weight: normal;" rowspan="1">
                  <div style="color: rgb(0, 0, 0);">97,646</div>
                </td>
                <td style="width: 24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: right;" rowspan="1">
                  <div style="color: rgb(0, 0, 0); font-weight: bold;">132,734</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
    </div>
    <div style="text-align: justify;"><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>The majority of time charter revenues are presented in accordance with IFRS 16 Leases, while the portion of time charter revenues
      related to technical management services, equaling $5,767 thousand in the first quarter of 2025, $3,886 thousand in the first quarter of 2024, is recognized in accordance with IFRS 15 Revenue from Contracts with Customers.</div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>Voyage charter revenues are related to revenue from spot charters and are presented in accordance with IFRS 15.</div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>Other revenues mainly relate to technical management services provided and are presented in accordance with IFRS 15.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">As of March 31, 2025, the Company had 23 vessels in operation; eight vessels were on time charters and 15 vessels operating in the spot market.</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">13</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic;"><u>Information about major customers:</u></div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">For the period from January 1, 2025, to March 31, 2025, five customers represented $35.4 million, $28.7 million, $12.4 million, $7.4 million, and $6.9 million,
      respectively, of the Company&#8217;s shipping revenues. The five customers in aggregate represented $90.9 million, equal to 77 percent of the shipping revenues of $118.2 million for the period from January 1, 2025, to March 31, 2025.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">For the period from January 1, 2024, to March 31, 2024, five customers represented $32.2 million, $14.7 million, $13.2 million, $11.1 million, and $9.9 million,
      respectively, of the Company&#8217;s total revenues. The five customers in aggregate represented $81.2 million, equal to 56 percent of the shipping revenues of $145.9 million for the period from January 1, 2024, to March 31, 2024.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Note 4 &#8211; Interest bearing debt</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);">As of March 31, 2025, DHT had interest bearing debt totaling $364.1 million.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Scheduled debt repayments</div>
    <div style="text-align: justify; font-weight: bold;">
      <table cellspacing="0" cellpadding="2" border="0" id="zde02235dc2254294beae588909c44eba" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom; background-color: #254061; border-top: #808080 2px solid;">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Interest</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom; background-color: #254061; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Q2</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom; background-color: #254061; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Q3-Q4</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; background-color: #254061; border-top: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; background-color: #254061; border-top: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; background-color: #254061; border-top: #808080 2px solid;">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255);">$ in thousands</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom; background-color: #254061; border-bottom: #808080 2px solid;">
              <div style="color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">rate</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Maturity</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom; background-color: #254061; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">2025</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom; background-color: #254061; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">2025</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; background-color: #254061; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">2026</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; background-color: #254061; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">2027</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; background-color: #254061; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Thereafter</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-right: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Total</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div>Credit Agricole Credit Facility</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">SOFR +</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom;">
              <div>2.05%</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right;">2028</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;&#160;&#160;&#160;625</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">1,250</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">2,500</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">2,500</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">25,000</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">&#160;31,875</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div>Danish Ship Finance Credit Facility <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">SOFR +</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom;">
              <div>2.00%</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right;">2025</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom;">
              <div style="text-align: right;">1,213</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">25,480</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;-</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;-</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">&#160;26,693</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div>ING Credit Facility <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">SOFR +</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom;">
              <div>1.90%</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right;">2029</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom;">
              <div style="text-align: right;">6,250</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">12,500</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">25,000</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">25,000</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">113,750</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">&#160;182,500</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div>ING Credit Facility</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">SOFR +</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom;">
              <div>1.80%</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right;">2029</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;&#160;&#160;&#160;750</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">1,500</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">3,000</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">3,000</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">32,250</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">&#160;40,500</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div>Nordea Credit Facility <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">SOFR + CAS<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup> +</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom;">
              <div>1.90%</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right;">2027</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom;">
              <div style="text-align: right;">5,929</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">11,857</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">23,715</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">46,091</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;-</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">&#160;87,592</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="font-weight: bold;">Total</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">14,767</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">52,587</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">54,215</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">76,591</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">171,000</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-weight: bold;">&#160;369,160</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div>Unamortized upfront fees bank loans</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right;">&#160;&#160;(5,088)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 33%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="font-weight: bold;">Total interest bearing debt</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 3%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.3%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.29%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.5%; vertical-align: bottom; border-top: #808080 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; font-weight: bold;">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8%; vertical-align: bottom; border-right: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; font-weight: bold;">&#160;364,072</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> Semiannual installment</div>
    <div style="font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> $72.5 mill. undrawn as of March 31, 2025</div>
    <div style="font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup> $123.7 mill. undrawn as of March 31, 2025</div>
    <div style="font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup> 3 months Credit Adjustment Spread (CAS) of 0.26%</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;"><u>ING Credit Facility</u></div>
    <div>In January 2023, the Company entered into a new $405&#160;million secured credit facility, including a $100&#160;million uncommitted incremental facility, with ING, Nordea, ABN AMRO, Credit
      Agricole, Danish Ship Finance and SEB, as lenders,&#160;ten&#160;wholly owned special-purpose vessel-owning subsidiaries as borrowers, and DHT Holdings, Inc., as guarantor. Borrowings bear interest at a rate equal to SOFR plus a margin of&#160;1.90% and is
      repayable in&#160;quarterly&#160;installments of $6.3&#160;million with maturity in January 2029.</div>
    <div><br>
    </div>
    <div>In the fourth quarter of 2023, the Company drew down $24 million under the revolving credit facility which was subsequently repaid in January 2024. In the first quarter of 2024, the
      Company drew down $50 million under the revolving credit facility which was subsequently repaid in the same quarter. In the second quarter of 2024 and the fourth quarter of 2024, the Company drew down $25 million and $10 million, respectively, under
      the revolving credit facility which was used for installments under the newbuilding contracts. In the first quarter of 2025, the Company prepaid $42.4 million under the revolving credit facility and drew down $10 million for corporate purposes.</div>
    <div><br>
    </div>
    <div>In September 2023, the Company entered into a $45 million senior secured credit facility under the incremental facility, with ING, Nordea, ABN AMRO, Danish Ship Finance and SEB, as
      lenders, one wholly owned special-purpose vessel-owning subsidiary as borrower, and DHT Holdings, Inc., as guarantor. Borrowings bear interest at a rate equal to SOFR plus a margin of 1.80% and is repayable in quarterly installments of $0.75 million
      with maturity in January 2029.</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">14</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"><u>Credit Agricole Credit Facility</u></div>
    <div>The credit facility is repayable in quarterly installments of $0.6 million with final payment of $22.5 million in addition to the last installment in December 2028.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;"><u>Danish Ship Finance Credit Facility</u></div>
    <div style="text-align: justify;">The credit facility is repayable in semiannual installments of $1.2 million and a final payment of $24.3 million in addition to the last installment in November 2025. In October
      2023, we entered into an amended and restatement agreement in relation to the LIBOR cessation. The credit facility bears an interest rate equal to SOFR plus a margin of 2.00%.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;"><u>Nordea Credit Facility</u></div>
    <div style="text-align: justify;">The credit facility is repayable in quarterly installments of $5.9 million from the first quarter of 2025, with the final payment of $40.9 million in addition to the last
      installment of $5.2 million due in the first quarter of 2027. Additionally, the facility includes an uncommitted &#8220;accordion&#8221; of $250 million. In June 2023, we entered into an amended and restatement agreement in relation to the LIBOR cessation. The
      credit facility bears an interest rate equal to SOFR plus CAS plus a margin of 1.90%. In the fourth quarter of 2023, the Company prepaid $23.7 million under the Nordea Credit Facility. The voluntary prepayment was made for all regular installments
      for 2024.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;"><u>Covenant compliance</u></div>
    <div style="text-align: justify;">The Company's financial covenants as of March 31, 2025, are summarized as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">
      <table cellspacing="0" cellpadding="2" border="0" id="zae07ab22a87a4986808a07128a44535c" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-left: 2px solid rgb(128, 128, 128); border-top: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: bottom; background-color: #254061; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">ING</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: bottom; background-color: #254061; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Credit Agricole</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: bottom; background-color: #254061; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Danish Ship Finance</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: bottom; background-color: #254061; border-right: #A6A6A6 2px solid; border-top: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Nordea</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 24%; vertical-align: bottom; background-color: rgb(37, 64, 97); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(255, 255, 255);">&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: bottom; background-color: #254061; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Credit Facility</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: bottom; background-color: #254061; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Credit Facility</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: bottom; background-color: #254061; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Credit Facility</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: bottom; background-color: #254061; border-right: #A6A6A6 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Credit Facility</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 24%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Security</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">11 VLCCs</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">1 VLCC</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">1 VLCC</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: middle; border-right: #A6A6A6 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">10 VLCCs</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Charter free market value of vessels that secure facility must be no less than</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">135% of borrowings</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">135% of borrowings</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">135% of borrowings</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle; border-right: #A6A6A6 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">135% of borrowings</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 24%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Value adjusted* tangible net worth</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">$300 million and 25% of value adjusted total assets</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">$300 million and 25% of value adjusted total assets</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">$300 million and 25% of value adjusted total assets</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle; border-right: #A6A6A6 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">$300 million and 25% of value adjusted total assets</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 24%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0);">Unencumbered cash of at least</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">Higher of $30 million or 6% of gross interest bearing debt</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">Higher of $30 million or 6% of gross interest bearing debt</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle;">
              <div style="text-align: right; color: rgb(0, 0, 0);">Higher of $30 million or 6% of gross interest bearing debt</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle; border-right: #A6A6A6 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0);">Higher of $30 million or 6% of gross interest bearing debt</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 24%; vertical-align: middle; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Guarantor</div>
            </td>
            <td style="width: 18.66%; vertical-align: middle; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">DHT Holdings, Inc.</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: middle; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">DHT Holdings, Inc.</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: middle; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">DHT Holdings, Inc.</div>
            </td>
            <td nowrap="nowrap" style="width: 18.66%; vertical-align: middle; border-right: #A6A6A6 2px solid; border-bottom: #808080 2px solid;">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">DHT Holdings, Inc.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; font-size: 8pt; font-style: italic;">*Value adjusted is defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company's vessels (as
      determined quarterly by a broker approved by the financial institution)</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">As of March 31, 2025, the Company was in compliance with its financial covenants.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Note 5 &#8211; Vessels</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);">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 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. For the quarter ended March 31, 2025, the Company performed an assessment using both
      internal and external sources of information and concluded that there were no indicators of impairment.</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">15</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;"><u>Vessels</u></div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;">&#160;
      <div>
        <table cellspacing="0" cellpadding="2" border="0" id="z75207a4d47dc4cb6918c34677377826e" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="color: rgb(255, 255, 255); font-weight: bold;">Cost of Vessels</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="color: rgb(255, 255, 255); font-style: italic;">$ in thousands</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
                <div style="color: rgb(0, 0, 0);">At January 1, 2025</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
                <div style="text-align: right; color: rgb(0, 0, 0);">1,982,741</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-weight: bold;">At March 31, 2025</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,982,741</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom;">
                <div style="color: rgb(0, 0, 0);">&#160;</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
                <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="color: rgb(255, 255, 255); font-weight: bold;">Depreciation and amortization</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="color: rgb(255, 255, 255); font-style: italic;">$ in thousands</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
                <div style="color: rgb(0, 0, 0);">At January 1, 2025</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
                <div style="text-align: right; color: rgb(0, 0, 0);">797,165</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
                <div style="color: rgb(0, 0, 0);">Depreciation and amortization <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
                <div style="text-align: right; color: rgb(0, 0, 0);">26,826</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-weight: bold;">At March 31, 2025</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">823,991</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom;">
                <div style="color: rgb(0, 0, 0);">&#160;</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
                <div style="text-align: right; color: rgb(0, 0, 0);">&#160;</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="color: rgb(255, 255, 255); font-weight: bold;">Carrying Amount</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="color: rgb(255, 255, 255); font-style: italic;">$ in thousands</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
                <div style="text-align: right; color: rgb(255, 255, 255);">&#160;</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
                <div style="color: rgb(0, 0, 0);">At January 1, 2025</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
                <div style="text-align: right; color: rgb(0, 0, 0);">1,185,576</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
                <div style="color: rgb(0, 0, 0); font-weight: bold;">At March 31, 2025</div>
              </td>
              <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">1,158,750</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: italic;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1 </sup>Relates solely to depreciation of vessels, drydocking, and EGCS. Depreciation of office leases and other property, plant and
      equipment represent an additional $444 thousand, which combined with the depreciation of vessels, drydocking, and EGCS comprises $27,270 thousand in depreciation and amortization.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;"><u>Vessels under construction</u></div>
    <div>The Company has entered into agreements to build four large VLCCs, fitted with exhaust gas cleaning systems, expected to be delivered between January and June 2026. Two will be
      constructed at each Hyundai Samho Heavy Industries Co., Ltd. (&#8220;HHI&#8221;) and Hanwha Ocean Co., Ltd. (&#8220;Hanwha&#8221;) in South Korea. The average price for the four ships is $130 million, adjusted for change orders. As of March 31, 2025, the Company has paid
      $115.7 million related to the installments under its newbuilding program. In addition, the Company has capitalized $4.7 million as borrowing costs in connection with the financing of the vessels under construction, at an average interest rate of 7.0%
      p.a., and $0.3 million related to other directly attributable expenses.</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="2" border="0" id="z4c4fe6659c0540c8967d143710b54ddd" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">Cost of vessels under construction</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="color: rgb(255, 255, 255); font-style: italic;">$ in thousands</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
              <div style="color: rgb(0, 0, 0);">At January 1, 2025</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">93,178</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
              <div style="color: rgb(0, 0, 0);">Additions</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">27,501</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">At March 31, 2025</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">120,679</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>The following table represents future expected payments related to the vessels under construction as of March 31, 2025:</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="2" border="0" id="z16fa1b181cd04bfaa714823460f49602" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">Vessels under construction</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="color: rgb(255, 255, 255); font-style: italic;">$ in thousands</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
              <div style="color: rgb(0, 0, 0);">Within the next 12 months</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">249,127</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
              <div style="color: rgb(0, 0, 0);">From one year to three years</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; color: rgb(0, 0, 0);">154,963</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">At March 31, 2025*</div>
            </td>
            <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(128, 128, 128); border-bottom: 2px solid rgb(128, 128, 128);">
              <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">404,090</div>
            </td>
          </tr>

      </table>
    </div>
    <div>*These are estimates only and are subject to change as construction progresses.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 6 &#8211; Stockholders&#8217; equity, dividend payments and stock compensation expenses</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="2" border="0" id="z611c2a93ae774c2797e570e265620486" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; background-color: rgb(36, 64, 97); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="color: rgb(255, 255, 255);">&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: bottom; background-color: rgb(36, 64, 97); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: rgb(255, 255, 255); font-weight: bold;">Common stock</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 80%; vertical-align: bottom;">
            <div>Issued at March 31, 2025</div>
          </td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: middle;">
            <div style="text-align: right;">160,607,613</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 80%; vertical-align: bottom;">
            <div>Numbers of shares authorized for issue</div>
          </td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 80%; vertical-align: bottom;">
            <div>&#160;&#160;at March 31, 2025</div>
          </td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: middle;">
            <div style="text-align: right;">250,000,000</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 80%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Par value</div>
          </td>
          <td nowrap="nowrap" style="width: 20%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">$ 0.01</div>
          </td>
        </tr>

    </table>
    <div><font style="font-size: 8pt; font-style: italic;"> </font><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;"><u>Common stock</u></div>
    <div style="color: rgb(0, 0, 0);">Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">16</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;"><u>Stock repurchases</u></div>
    <div style="text-align: justify;">No stock repurchases were made in the first quarter of 2025.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In 2024, the Company purchased 1,481,383 of its own shares in the open market for an aggregate consideration of $13.2 million, at an average price of $8.89 per share. All shares
      were retired upon receipt.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;"><u>Dividend payments</u></div>
    <div>Dividend payment made year-to-date as of March 31, 2025:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="2" border="0" id="zfae03c2d84b34b9eb7a45ff305d7cebc" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
            <div style="color: rgb(255, 255, 255); font-weight: bold;">Payment date</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
            <div style="text-align: center; margin-left: 42.5pt; color: rgb(255, 255, 255); font-weight: bold;">Total Payment</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
            <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Per common share</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
            <div style="color: rgb(255, 255, 255); font-style: italic;">$ in thousands, except per share amounts</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; background-color: rgb(36, 64, 98);">&#160;</td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; background-color: rgb(36, 64, 98);">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
            <div style="color: rgb(0, 0, 0);">February 25, 2025</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 27,286</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 0.17</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Total payments made year-to-date as of March 31, 2025</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 27,286</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 0.17</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Dividend payments made during 2024:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="2" border="0" id="z49947fa2128549fbb651d07f69ba18a2" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
            <div style="color: rgb(255, 255, 255); font-weight: bold;">Payment date</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
            <div style="text-align: center; margin-left: 42.5pt; color: rgb(255, 255, 255); font-weight: bold;">Total Payment</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
            <div style="text-align: center; color: rgb(255, 255, 255); font-weight: bold;">Per common share</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(36, 64, 98);">
            <div style="color: rgb(255, 255, 255); font-style: italic;">$ in thousands, except per share amounts</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; background-color: rgb(36, 64, 98);">&#160;</td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; background-color: rgb(36, 64, 98);">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
            <div style="color: rgb(0, 0, 0);">November 29, 2024</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 35,522</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 0.22</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
            <div style="color: rgb(0, 0, 0);">August 30, 2024</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 43,595</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 0.27</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
            <div style="color: rgb(0, 0, 0);">May 31, 2024</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 46,786</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 0.29</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217);">
            <div style="color: rgb(0, 0, 0);">February 28, 2024</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 35,492</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 0.22</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; background-color: rgb(217, 217, 217); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Total payments made during 2024</div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(128, 128, 128);">
            <div><font style="font-weight: bold; color: rgb(0, 0, 0);">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; </font><font style="color: rgb(0, 0, 0);">&#160; &#160; &#160; &#160; &#160; &#160; &#160;
                &#160; &#160; &#160; </font><font style="font-weight: bold;">161,</font><font style="font-weight: bold; color: rgb(0, 0, 0);">396</font></div>
          </td>
          <td nowrap="nowrap" style="width: 25%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(128, 128, 128);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 1.00</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;"><u>Stock compensation expenses</u></div>
    <div>In January 2025, for the year 2024, a total of 300,000 shares of restricted stock were awarded to management pursuant to the 2022 Incentive Compensation Plan (the &#8220;2022 Plan&#8221;). 97,500
      shares vested in March 2025, subject to certain performance conditions. Additionally, 67,500 shares will vest in January 2026, 2027, and 2028, respectively, subject to continued employment or office, as applicable, as of the relevant vesting date.
      The estimated fair value at grant date was $9.33 per share for 251,250 shares and $9.12 per share for 48,750 shares. Further, in January 2025, a total of 150,000 shares of restricted stock were awarded to the board of directors pursuant to the 2022
      Plan. The estimated fair value at grant date was $9.33 per share and the shares will vest in June 2026. Expenses recognized from stock compensation was USD 1.7 million in Q1 2025, compared to USD 0.9 million in Q1 2024.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 7 &#8211; Accounts receivable and accrued revenues</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);">As of March 31, 2025, $50.5 million, consisting mainly of accounts receivable with no material amounts overdue, was recognized as accounts receivable and accrued
      revenues in the interim condensed consolidated statement of financial position, compared to $53.7 million as of December 31, 2024.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 8 &#8211; Deferred shipping revenues</div>
    <div><br>
    </div>
    <div style="color: rgb(0, 0, 0);">Deferred shipping revenues relate to charter hire payments paid in advance. As of March 31, 2025, $7.5 million was recognized as deferred shipping revenues in the
      interim condensed consolidated statement of financial position, compared to $6.1 million as of December 31, 2024.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 9 - Financial risk management, objectives, and policies</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Note 9 of the consolidated financial statements included in the 2024 Annual Report on Form 20-F provides details of financial risk management objectives and
      policies.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The Company&#8217;s principal financial liability consists of long-term debt with the main purpose being to partly finance the Company&#8217;s assets and operations. The
      Company&#8217;s financial assets mainly comprise cash.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The Company is exposed to market risk, credit risk and liquidity risk. The Company&#8217;s senior management oversees the management of these risks.</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">17</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Note 10 &#8211; Subsequent events</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">On May 5, 2025, the Board approved a dividend of $0.15 per common share related to the first quarter of 2025 to be paid on May 28, 2025, for shareholders of
      record as of May 21, 2025.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">In April 2025, the Company entered into a seven-year time charter contract for DHT Appaloosa, built 2018, with a global energy company. The time charter
      contract has a fixed base rate of $41,000 per day plus an index-based profit-sharing structure calculated on the ship&#8217;s specifications. All index-based earnings in excess of $41,000 will be shared equally between the customer and DHT. The customer
      has the option to extend for two additional years. DHT Appaloosa is expected to deliver into the time charter contract in May 2025.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In April 2025, the Company entered into an agreement to sell DHT Lotus and DHT Peony for a combined price of $103.0 million. Both vessels were built at Bohai Shipbuilding Heavy
      Industry Co, China, in 2011. DHT Lotus was delivered to the new owner on April 29, 2025, and DHT Peony is expected to be delivered in July 2025. After repayment of existing debt on the vessels, amounting to $15.9 million in aggregate, the transaction
      is expected to generate net cash proceeds of approximately $85.0 million. The Company expects to record gains of $17.5 million and $15.5 million in the second quarter and third quarter, respectively. The vessels were acquired in 2017 as part of the
      acquisition of BW Group&#8217;s VLCC fleet for an aggregate price of $115.8 million.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In April 2025, the Company acquired an additional 46.8% ownership of Goodwood Ship Management Pte. Ltd., a privately owned ship management company incorporated under the laws of the
      Republic of Singapore, for a purchase price of $6.1 million in cash. Following the acquisition, Goodwood Ship Management Pte. Ltd. is 100% owned by DHT Holdings, Inc.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In April 2025, the Company entered into a new secured credit agreement with Nordea Bank Abp for a $30 million reducing revolving credit facility to refinance the outstanding amount
      under the secured term loan facility with Danish Ship Finance A/S that financed DHT Jaguar. The credit facility bears interest at a rate equal to SOFR plus a margin of 1.75%, has a final maturity in April 2031, and is otherwise in line with the &#8220;DHT
      style financing&#8221;.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In April 2025, the Company published its 2024 Sustainability Report which is available on DHT&#8217;s website <font style="color: rgb(0, 0, 255);"><u>www.dhtankers.com/esg/</u></font>.</div>
  </div>
  <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">18</font></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>dht_logo.jpg
<TEXT>
begin 644 dht_logo.jpg
M_]C_X  02D9)1@ ! 0$"6 )8  #_VP!#  ," @," @,# P,$ P,$!0@%!00$
M!0H'!P8(# H,# L*"PL-#A(0#0X1#@L+$!80$1,4%145# \7&!84&!(4%13_
MVP!# 0,$! 4$!0D%!0D4#0L-%!04%!04%!04%!04%!04%!04%!04%!04%!04
M%!04%!04%!04%!04%!04%!04%!04%!3_P  1" ". &0# 1$  A$! Q$!_\0
M'0   00# 0$             "  !!@<#!0D$ O_$ %@0  $"! 0# P4)"@@+
M"0    $" P0%!A$ !P@A$C%1$R)!"10R87$8-T)78G61E=$5%B-2<H&"L;.T
M%R4G,SAVDJ$9)"@U0T5'8Y2RTS96=(66HJ/2U/_$ !L!  (# 0$!
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M4)JBM)DFH&FX6ML_9ZY14@>''!TU"D*F\R\>'@%RV#X@ J YE'/"R2J<]<N
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MX7;!UY"Z>H?+VF9K]YLYAJCHZ=3$SB31QB4A?FSC#*0A9/I*2IM8OX@"X!N
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MSHS*FM(2=PUXF#MV,=!WNF)AE>DFW(D<QZQT)Q?/&V9M_?V%G ^*/X36-?\
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0Z&IC<*64EX0;<\5JT[/_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
