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Vessels (Tables)
 9 Months Ended
Sep. 30, 2025
Vessels [Abstract]  
Vessel Costs
Vessels

Cost of Vessels      
$ in thousands
      
At January 1, 2025
    
1,982,741
  
Additions
    
2,389
  
Retirement 1     (132,349 )
At September 30, 2025
    
1,852,781
  

Depreciation and amortization
      
$ in thousands
      
At January 1, 2025
    
797,165
  
Depreciation and amortization 2
    
78,046
  
Retirement 1     (64,464 )
At September 30, 2025
    
810,746
  

Carrying Amount        
$ in thousands
            
At January 1, 2025
    
1,185,576
  
At September 30, 2025
    
1,042,035
  
1Relates to the sale of DHT Lotus, the sale of DHT Peony, and completed depreciation of drydocking for DHT Jaguar.
2 Relates solely to depreciation of vessels, drydocking, and EGCS. Depreciation of office leases and other property, plant, and equipment represent an additional $1,333 thousand, which combined with the depreciation of vessels, drydocking, and EGCS comprises $79,379 thousand in depreciation and amortization.

Gain on sale of vessels

In December 2024, the Company entered into an agreement to sell the DHT Scandinavia, a 2006 built VLCC, for $43.4 million. The vessel was delivered to its new owner in the first quarter of 2025, resulting in a gain of $19.8 million. In April 2025, the Company entered into an agreement to sell DHT Lotus and DHT Peony, both built in 2011, for a combined price of $103.0 million. DHT Lotus was delivered to its new owner in the second quarter of 2025, resulting in a gain of $17.5 million. DHT Peony was delivered in the third quarter of 2025, resulting in a gain of $15.7 million.


Advances for vessel and vessel upgrades

Cost of advances for vessel and vessel upgrades      
$ in thousands
      
At January 1, 2025
    
-
  
Additions
    
11,924
  
At September 30, 2025
    
11,924
  
Vessel costs advances for vessels under construction Vessels under construction

Cost of vessels under construction      
$ in thousands
      
At January 1, 2025
    
93,178
  
Additions
     97,707  
At September 30, 2025
    
190,884
  
Future expected payments for vessels under construction

The following table represents future expected payments related to the vessels under construction as of September 30, 2025:

Vessels under construction      
$ in thousands
      
Within the next 12 months
    
339,946
  
At September 30, 2025*
    
339,946
  


*These are estimates only and are subject to change as construction progresses.