Scorpio Tankers Sells 2.3M Shares in DHT Holdings, Expands Fleet

Scorpio Tankers has sold over 2.3 million shares of DHT Holdings at an average price of $13.25 each, reducing its stake in the company. DHT Holdings operates in the crude oil tanker industry, focusing on Very Large Crude Carriers (VLCCs). Scorpio Tankers plans to expand its fleet by constructing two VLCCs, indicating a strategic shift towards capitalizing on market trends. Despite strong financial performance, DHT Holdings faces sector-specific risks, including volatility in crude oil prices and regulatory changes.