DHT Holdings, I nc. reports second quarter results with profitable operations and strengthened balance sheet

ST. HELIER, CHANNEL ISLANDS, July 23, 2012 - DHT Holdings, Inc. (NYSE HT) ("DHT" or the "Company") today announced:

Financial and operational highlights:
USD mill. (except per share)

* adjusted for loss on sale of vessels, impairment and non-cash swap related items. EPS is calculated using average outstanding shares of 140,081,883 for Q2 2012 which assumes all preferred shares issued on May 3, 2012 have been exchanged for common stock.
** per common share.  $3.40 per preferred share.
*** as % of total operating days in period.

Highlights of the quarter:

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  EBITDA of $11.0 million, net income of $2.7 million and EPS of $0.02.  The company will pay a dividend of $0.24 per common share and $3.40 per preferred share for the quarter payable on August 16, 2012 for shareholders of record as of August 9, 2012.

  
  


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  During the quarter we had three VLCCs in the Tankers International Pool ("TI Pool"), two for the full quarter and one from May.  The vessels generated an average time charter equivalent earnings ("TCE") of $25,000 per day.  The other vessels were either on time- and bareboat charters during the quarter.

  
  


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  The equity offering backstopped by Anchorage Capital Group, L.L.C. and concurrent private placement closed on May 2, 2012 generating net proceeds of approximately $76.2 million.

  
  


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  At the Company's 2012 annual general meeting of shareholders, the shareholders voted to authorize a 12-for-1 reverse stock split of DHT's common stock, par value $0.01 per share.  The reverse stock split became effective after the close of business on July 16, 2012.

  
  


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  DHT prepaid $13.6 million under the credit facilities with DVB and DNB combined, equal to all scheduled installments through 2014.

  
  


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  Following the fleet appraisal for the second quarter, DHT repaid $18 million under the RBS credit facility.  Further, and following the fleet appraisal for the third quarter conducted in early July, DHT repaid $3.1 million in July. The next scheduled installment under the RBS facility is in Q3 2015.

  
  


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  The VLCC DHT Regal completed its third special survey and dry-dock and entered the TI Pool during the quarter.

  
  


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  The Aframaxes Overseas Rebecca and Overseas Ania were redelivered under their time charters and subsequently sold during the quarter.  DHT incurred a loss of $1.4 million on the sale of the two vessels in the second quarter. A loss of $0.9 million related to the Overseas Rebecca was recorded in the first quarter 2012. The proceeds from the sales were used to further reduce the outstanding debt under the RBS credit facility.

  
  


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  The Aframax DHT Sophie was redelivered under its time charter in June 2012.  The vessel is trading in the spot market with the intention to enter into a pool during the second half of 2012.

  
  

The full report can be found in the link below.

EARNINGS CONFERENCE CALL INFORMATION

DHT will host a conference call at 8:00 a.m. EDT Tuesday July 24, 2012 to discuss the results for the quarter.  All shareholders and other interested parties are invited to join the conference call, which may be accessed by calling 1 212 444 0481 within the United States, 23162787 within Norway and +44 203 140 8286 for international callers. The passcode is "DHT".  A live webcast of the conference call will be available in the Investor Relations section on DHT's website at http://www.dhtankers.com .

An audio replay of the conference call will be available through July 31, 2012.  To access the replay, dial 1 347 366 9565 within the United States, 21000498 within Norway or +44 207 111 1244 for international callers and enter 2374127# as the pass code.

About DHT Holdings, Inc.

DHT is an independent crude oil tanker company operating a fleet of six VLCCs, two Suezmaxes and two Aframaxes.  Four of the vessels are on time charters, two are on long-term bareboat charters, four are operating in pools and/or the spot market.  For further information: www.dhtankers.com.

Forward Looking Statements

This press release contains assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil prices and seasonal fluctuations in vessel supply and demand. When used in this document, words such as "believe," "intend," "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should" and "expect" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.  These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties.  Given these uncertainties, you should not place undue reliance on these forward-looking statements.  These forward-looking statements represent the Company's estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results.  For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the Securities and Exchange Commission on March 19, 2012.

The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law.  In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements.

CONTACT:
Eirik Ubøe, CFO
Phone: +44 1534 639 759 and +47 412 92 712
E-mail: eu@dhtankers.com