DHT Holdings Inc, a VLCC owner, issued a business update on April 15.

Specifically, on April 15, DHT disclosed that for the first quarter of 2026, its fleet achieved an average daily Time Charter Equivalent earnings of $78,800. Within this figure, VLCCs operating in the spot market recorded average daily TCE of $91,700, while vessels on period charter earned average daily hire of $61,300.

DHT noted that its fleet recorded a total of 1,994 revenue days during the first quarter, of which 1,152 days were attributable to spot market operations.

As of the current date, second-quarter 2026 figures are tracking significantly stronger than the first quarter. Approximately 49% of available spot market days have already been fixed at an average daily rate of $189,500. Overall, roughly 71% of total revenue days across its entire VLCC fleet have been secured, at an average daily rate of approximately $115,400.

DHT has previously indicated that the VLCC market is demonstrating notable strength, underpinned by growth in seaborne crude oil demand and an increased risk premium associated with heightened geopolitical tensions. Concurrently, a fundamental shift is occurring in the concentration of global VLCC tonnage, a development which may command a "scarcity premium."

DHT stated that, as an independent owner and operator of VLCC tonnage, it is increasing its exposure to the spot market during the first half of the year, reflecting a constructive and optimistic market outlook.

As of the current date, including three VLCCs sold and pending delivery to new owners, DHT operates a fleet of 23 VLCCs. Of these, nine vessels are employed under period charters, with the balance trading in the spot market. Additionally, DHT has one VLCC newbuilding currently under construction at Hyundai Samho Heavy Industries awaiting delivery.