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I Remain Bullish On DHT Holdings After Strong Results

DHT Holdings (DHT) operates as an independent oil tanker company with crude oil tankers in the VLCC, Aframax and Suezmax segments. As of December 2014, the company had 20 VLCCs (including six VLCC under construction at Hyundai Heavy Industries), two Suezmaxes and two Aframaxes. The company's revenue is derived from term-contracts and spot market contracts for the oil tankers with the company's spot tanker market exposure at 58.2% for FY14. For the same year, the company reported revenue of $101.5 million and an EBITDA of $40.6 million, which represents revenue and EBITDA growth of 65% and 49% respectively as compared to FY13.

I had written a bullish article on DHT Holdings on December 29, 2014. The stock was trading at $7.15 on that date and subsequently surged to $9.05 by January 12, 2015. However, the stock has corrected to $7.07 currently and I believe that the correction is primarily due… Read More …