DHT Holdings has reported a 60% quarter-on-quarter decline in net profit on the back of the decline in VLCC rates.
Net income for the third quarter at the US-listed tanker owner was $50.7m against the $135.8m seen in the preceding quarter.
VLCC spot rates averaged $44,900 per day during the third quarter, down substantially from the average of $92,100 per day seen between April and June.
