Page 45: of Marine News Magazine (June 2006)

44 46

(Source: Waterborne Commerce

Statistics Center, New Orleans, LA)

Double Hull

Tankers Results

Double Hull Tankers, Inc. announced results for the period from January 1 to

March 31, 2006. Total revenues for this period were $24.2 million and net income was $11.7 million, or $0.39 per share (diluted). On October 18, 2005, having completed its initial public offering, DHT acquired seven double hull crude oil tankers from Overseas Shipholding

Group, Inc. (OSG) and commenced opera- tions as an independent tanker company.

DHT's modern fleet consists of three Very

Large Crude Carriers (VLCCs) and four

Aframax tankers. From the same date, all seven vessels have been chartered to OSG for periods ranging from five to six and one-half years. OSG in turn employs the three VLCCs in the Tankers International (TI) pool, the largest commercial pool for

VLCCs, and the four Aframaxes in the

Aframax International (AI) pool, the sec- ond largest commercial pool for Aframax- es.

June, 2006 • MarineNews 45

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