Scorpio Tankers ups stake in DHT to above 5%

Emanuele Lauro-led Scorpio Tankers has taken its shareholding in VLCC giant DHT Holdings to above 5%.

In a release to the Securities and Exchange Commission, DHT revealed Scorpio had taken its shareholding in the company from 4.9% to 7.45%, spending $131.5m to bolster its position.

Splash first reported on Scorpio’s initial 4.9% DHT investment in October last year. 

“Scorpio acquired the securities reported herein for investment purposes in the ordinary course of business because of its belief that the Issuer presents an attractive investment based on the Issuer’s business prospects and strategy,” DHT stated. 

Splash Extra, published yesterday, suggested there was a constructive outlook for VLCCsin the year ahead, with many analysts polled arguing that this particular ship type has the best prospects in the new Year of the Snake.