Crude oil tanker company DHT Holdings is set to acquire all of the outstanding shares of Singapore-based private company Samco Shipholding.

Samco Shipholding was established in 2008 and owns a fleet of seven very large double-hull crude oil tankers (VLCC) with an average age of approximately 4.5 years.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The acquisition agreement also includes Samco’s 50% ownership in another Singapore based Goodwood Ship Management.

"With the 50% shareholding in Goodwood bringing technical management into DHT, we are now a fully integrated ship owning company with all functions in-house."

DHT senior management said: "The Samco fleet consists of modern, high-quality vessels all being fitted with fuel saving devices.

"The time charter contracts are with first-rate counterparties and are at premium levels to the current time charter market.

See Also:

"With the 50% shareholding in Goodwood bringing technical management into DHT, we are now a fully integrated ship owning company with all functions in-house."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The purchase price of the acquisition is $317m, of which less than $5m will be deposited into an escrow fund pending the final determination of any purchase price adjustment after closing.

Samco’s debts amount to approximately $319.6m under the company’s credit agreements. DHT has obtained a committed and underwritten offer from affiliates of Nordea Bank AB and DNB ASA to refinance Samco’s debt at a rate of LIBOR plus 2.5%, with leverage and repayment profiles consistent with DHT’s other debt facilities.

Following the acquisition, DHT’s VLCC fleet will increase to 20, which will include the six currently under construction,two Suezmaxes and two Aframaxes.

The acquisition is expected to be completed this month and is subject to various customary closing conditions.