Bermudian-based oil tanker operator DHT Holdings has ordered a huge new vessel from a South Korean shipyard. At the same time, DHT announced a new $250 million revolving credit facility.

DHT’s agreement with Hanwha Ocean Co is for the construction of a new Very Large Crude Carrier, scheduled for delivery in August 2028.

VLCCs can carry about two million barrels of crude oil and are normally more than 1,000 feet long. DHT operates a fleet of 24 vessels in the VLCC class, according to its website.

The vessel will be a sister of the two Hanwha vessels the Company took delivery of in the first quarter of 2026, the DHT Addax and the DHT Antelope, both of which have a dead weight tonnage of nearly 320,000 tonnes.

The company said the new vessel would be “built to high specifications with premium earning power through advanced fuel economics, reduced emissions and large carrying capacity”.

Svein Moxnes Harfjeld, chief executive officer of DHT Holdings, said: “We are very pleased with the two newbuildings delivered from Hanwha earlier this year and look forward to adding another vessel to our Antelope Class series through this early delivery opportunity provided by Hanwha.”

DHT added that its new revolving credit facility has a seven-year tenor and bears interest at the Secured Overseas Financing Rate plus a margin of 135 basis points. It has a final maturity in June 2033 and a 20-year repayment profile. Additionally, it includes a $250 million uncommitted accordion.

The company added that the facility enhances DHT’s financial flexibility, extends its debt maturity profile, and further optimises its capital structure.

Nordea Bank Abp has arranged the facility. The syndicate of lenders comprises ING Bank, DNB Bank, ABN AMRO Bank, Crédit Agricole Corporate and Investment Bank, Danish Ship Finance, and Skandinaviska Enskilda Banken.