DHT third quarter rates hurt by Opec+ cuts, but fourth quarter looks stronger
New York-listed owner of very large crude carriers reports $0.19 earnings per share, just shy of Jefferies and consensus expectation of $0.20 EPS
A robust opening to the quarter was tapered by Opec+ production cuts, DHT says, although the rates fell to lows that were still historically high. Rates have recently rallied, and while average earnings this quarter so far are still below the third quarter, the remaining days will likely be fixed at levels that will see improved results in the fourth quarter
