Tuesday before the bell, DHT Maritime, Inc. (DHT), an operator of double-hull crude oil tankers, reported a rise in second-quarter profit, citing the surge in the freight market that started at the end of 2007 and has continued through the first and second quarter. Earnings and revenues beat analysts' estimates.
Second-quarter net income increased to $10.34 million or $0.29 per share from $7.42 million or $0.25 per share in the year-ago quarter. The consensus of six analysts polled by First Call/Thomson Financial was for earnings of $0.26 a share.
The St. Helier, Channel Islands-based company's total shipping revenues rose to $27.84 million for the quarter from $20.75 million last year, topping analysts' estimate of $26.15 million.
Income from vessel operations increased to $15.55 million from $10.69 million in the previous year.
The company said that the second quarter benefited from the surge in the freight market that started at the end of 2007 and has continued through first and second quarter, primarily a result of strong Far East demand and ample supply of OPEC oil increasing the demand for long haul transportation of crude oil.
During the latest quarter, the company changed its name to DHT Maritime from Double Hull Tankers.
Net income for the six-month period climbed to $17.97 million or $0.55 per share from $14.62 million or $0.49 per share in the comparable year-ago period.
Shipping revenues for the half-year rose to $52.73 million from $40.98 million in the same period last year.
The company also declared a dividend of $0.25 a share payable on September 24 to shareholders on record as of September 15.
DHT last traded on Friday at $8.91.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.