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Charter arrangements (Tables)
 12 Months Ended
Dec. 31, 2025
Charter arrangements [Abstract]  
Shipping Revenues
The below table details the Company’s shipping revenues:
 
(Dollars in thousands)
  
2025
    
2024
    
2023
  
Time charter revenues 1
  
$
145,800
    
$
82,640
    
$
74,989
  
Voyage charter revenues2
    
351,397
      
485,195
      
481,087
  
Shipping revenues
  
$
497,197
    
$
567,835
    
$
556,075
  
Other revenues 3
     1,203       3,938       4,481  
Total revenues
   $ 498,400     $ 571,773     $
560,556  
Whereof IFRS 15 revenues
   $
383,182     $
507,569     $ 504,529  

1
The majority of time charter revenues are presented in accordance with IFRS 16, while the portion of time charter revenues related to technical management services, equaling $30,582 thousand, $18,436 thousand, and $18,961 thousand, for 2025, 2024 and 2023, respectively, is recognized in accordance with IFRS 15.
2
Voyage charter revenues are related to revenue from spot charters and are presented in accordance with IFRS 15.
3
Other revenues mainly relate to technical management services provided and are presented in accordance with IFRS 15.
Vessel Employment
The following summarizes the Company’s vessel employment as of December 31, 2025:

Vessel
  
Type of Employment
  
Expiry
  
VLCC
          
DHT Appaloosa
   Time charter with profit sharing     Q2 2032  
DHT Mustang
  
Spot
    
 
DHT Nokota
  
Spot
        
DHT Bronco
  
Spot
    
 
DHT Colt
  
Spot
        
DHT Stallion
  
Spot
        
DHT Tiger
  
Time charter
    
Q1 2026
  
DHT Harrier
  
Time charter
     Q1 2026  
DHT Puma
  
Time charter with profit sharing
     Q1 2026  
DHT Panther
  
Spot
    

 
DHT Osprey
  
Time charter
     Q2 2027  
DHT Lion
  
Time charter
     Q1 2026  
DHT Leopard
  
Time charter
     Q4 2027  
DHT Jaguar
  
Spot
        
DHT Taiga
  
Spot
        
DHT Opal
  
Spot
    
 
DHT Sundarbans
  
Spot
        
DHT Redwood
  
Spot
    
 
DHT Amazon
  
Spot
        
DHT China
  
Time charter
     Q1 2026  
DHT Europe
  
Time charter
     Q1 2026  
DHT Bauhinia
  
Time charter
     Q2 2026  
Future Charter Payments
The future revenues expected to be received from the time charters (not including any potential profit sharing) for the Company’s vessels on existing charters as of the reporting date are as follows:

(Dollars in thousands)
Year
   Amount  
2026
  
$
55,245
  
2027
    
32,693
  
2028
     14,063  
2029
     14,883  
2030
     14,883  
Thereafter
    
19,188
  
Net charter payments
  
$
150,955
  
Contract Balances
Contract balances and related disclosures have been included in the following places in the notes to the Company’s consolidated financial statements:
 

  
Note
  
Accounts receivable and accrued revenues
  
8,9
  

Deferred shipping revenues relate to charter hire payments paid in advance. The year-end deferred shipping revenues balances have been recognized as revenue in the following year due to the short-term nature of the advances.


(Dollars in thousands)
 
2025
    
2024
    
2023
  
Deferred shipping revenues
  
$
11,397
    
$
6,139
    
$
4,394
  



Capitalized voyage expenses

Voyage expenses are capitalized between the previous discharge port, or contract date if later, and the next load port and amortized between load port and discharge port. The closing balance of assets recognized from the costs to obtain or fulfil a contract was:
 
(Dollars in thousands)
 
2025
    
2024
    
2023
  
Capitalized voyage expenses
  
$
1,684
    
$
2,450
    
$
2,549