“Don’t Look Back. Something May Be Gaining On You”

Seeking greater certainty in these unsettled times, DHT Maritime Inc. (“DHT”) announced on Monday that it had reached an agreement with OSG under which OSG has declared part of the extension options for the seven vessels on time charter upon expiry of the vessels’ current initial charter periods. It is notable that the options were declared early and as a consequence DHT’s fleet will have 100% fixed charter coverage from 2009 through 2011 with one of the world’s premier tanker owner/operators.

The declared options increase DHT’s fixed charter coverage from an average of 3.7 years to 4.6 years for the total fleet of 9 vessels. As a result of the agreement, the company’s contracted fixed revenues will increase by a minimum of $70 million to about $400 million

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