DHT Tanker. Image Credit: DHT
Tanker owner DHT Holdings, Inc. (DHT) says it is continuing to take advantage of current market conditions and bringing forward its latest scrubber installation plans.
"The Company will continue to take advantage of the weak freight market to bring forward dry dockings and planned installations of scrubbers and ballast water treatment systems. Scheduled off hire is expected to be in the range between 100 and 125 days during the fourth quarter of 2021," the company wrote in its latest Q3 earnings report.
In the run up to IMO 2020 DHT was an enthusiastic early adopter of scrubbers, but has also delayed installation of units to take advantage of buoyant market conditions.
Overall, for 2021 Q3 DHT posted a net loss of $21 million, compared to a profit of $50.7 million during the same period in 2020.
The firm noted increased year-on-year depreciation of $31.7 million during the latest 3-month period, compared to $31.1 million in the third quarter of 2020, due to an increase in depreciation related to scrubbers of $1.3 million. The overall drop was offset by a decrease in depreciation related to vessels of $0.7 million, it added.