Equity Research Update on DHT
5 months ago
Aurelion Research
"DHT: Pure-play VLCC operator at $11/share (1.0-1.1x P/NAV), 25 modern vessels. 2025 upside: VLCC fleet growth only 1.6%, OPEC+ increasing supply, rates projected $60k/day Q3, $75k/day Q4. Conservative 0.5x net debt/EBITDA, 100% income payout policy. $332.4M 2025E EBITDA. Base case $12, bull $14, bear $10."
Sentiment
neutral
Conviction
Medium
Tier
Trade Call
Related Stocks
Episode Information
Episode:
Equity Research Update on DHT
Source:
Aurelion Research
Published:
July 20, 2025
Idea Type:
Stock Idea