DHT Holdings, Inc. (NYSE:DHT) Q3 2023 Earnings Conference Call November 7, 2023 8:00 AM ET
Company Participants
Laila Halvorsen - CFO
Svein Moxnes Harfjeld - President & CEO
Conference Call Participants
Omar Nokta - Jefferies
Frode Morkedal - Clarksons Securities
Operator
Good day, and thank you for standing by. Welcome to the Q3 2023 DHT Holdings, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Laila Halvorsen, CFO. Please go ahead.
Laila Halvorsen
Thank you. Good morning and good afternoon, everyone. Welcome, and thank you for joining DHT Holdings third quarter 2023 earnings call. I'm joined by DHT's President and CEO, Svein Moxnes Harfjeld. As usual, we will go through financials and some highlights before we open up for your questions. The link to the slide deck can be found on our website, dhtankers.com.
Before we get started with today's call, I would like to make the following remarks. A replay of this conference call will be available at our website, dhtankers.com until November 14. In addition, our earnings press release will be available on our website and on the SEC EDGAR system as an exhibit to our Form 6-K.
As a reminder, on this conference call, we will discuss matters that are forward-looking in nature. These forward-looking statements are based on our current expectations about future events as detailed in our financial report. Actual results may differ materially from the expectations reflected in these forward-looking statements. We urge you to read our periodic reports available on our website and on the SEC EDGAR system including the risk factors in these reports for more information regarding risks that we face.
We retained a very strong balance sheet represented by low leverage and significant liquidity. At quarter end, financial leverage was about 21% based on market values for the ships and net debt was some $15 million per vessel. Leverage has had a marginal increase compared to the second quarter due to an adjustment in market values for the vessels in addition to a new loan related to the acquisition of the DHT Appaloosa. The quarter ended with total liquidity of $292 million, consisting of $74 million in cash and $218 million available under our revolving credit facility.