Document and Entity Information |
9 Months Ended |
|---|---|
Sep. 30, 2019 | |
| Document and Entity Information [Abstract] | |
| Document Type | 6-K |
| Amendment Flag | false |
| Document Period End Date | Sep. 30, 2019 |
| Entity Registrant Name | DHT HOLDINGS, INC. |
| Entity Central Index Key | 0001331284 |
| Current Fiscal Year End Date | --12-31 |
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- Definition Boolean flag that is true when the XBRL content amends previously-filed or accepted submission. No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'. No definition available.
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- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Document and Entity Information. No definition available.
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- Definition Advances for vessel upgrades. No definition available.
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- Definition Capitalized voyage expenses No definition available.
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- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). No definition available.
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- Definition The amount of bunkers, lube oils and consumables classified as current. No definition available.
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- Definition Net book value of vessels and time charter contracts. No definition available.
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- Definition The amount received or receivable from the issuance of the entity's shares in excess of nominal value and amounts received from other transactions involving the entity's stock or stockholders. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Expiry date 2020-01-01: The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity. Effective 2020-01-01: The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount recognised as a current asset for expenditures made prior to the period when the economic benefit will be realised. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of current trade receivables. [Refer: Trade receivables] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of residual interest in the assets of the entity after deducting all its liabilities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of investments in associates in an entity's separate financial statements. [Refer: Associates [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Expiry date 2020-01-01: The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Effective 2020-01-01: The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The non-current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of assets that do not meet the definition of current assets. [Refer: Current assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Current liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of non-current financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of property, plant and equipment that the entity does not separately disclose in the same statement or note. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition A component of equity representing reserves within equity, not including retained earnings. [Refer: Retained earnings] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition A component of equity representing exchange differences on translation of financial statements of foreign operations recognised in other comprehensive income and accumulated in equity. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition A component of equity representing the entity's cumulative undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition An entity’s own equity instruments, held by the entity or other members of the consolidated group. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2019 |
Sep. 30, 2018 |
Sep. 30, 2019 |
Sep. 30, 2018 |
|
| Profit or loss | ||||
| Shipping revenues | $ 104,740 | $ 90,177 | $ 343,233 | $ 237,322 |
| Operating expenses | ||||
| Voyage expenses | (45,847) | (41,983) | (137,360) | (108,502) |
| Vessel operating expenses | (19,385) | (19,600) | (56,453) | (54,581) |
| Depreciation and amortization | (29,656) | (26,682) | (84,922) | (75,226) |
| Impairment charges | 0 | (3,500) | 0 | (3,500) |
| Profit/loss, sale of vessel | 0 | 0 | 0 | (46) |
| General and administrative expense | (3,520) | (3,445) | (11,266) | (12,383) |
| Total operating expenses | (98,408) | (95,210) | (290,000) | (254,238) |
| Operating income/(loss) | 6,331 | (5,033) | 53,233 | (16,917) |
| Share of profit from associated companies | 158 | 189 | 585 | 641 |
| Interest income | 113 | 73 | 720 | 224 |
| Interest expense | (13,807) | (13,300) | (42,315) | (39,427) |
| Fair value gain/loss on derivative financial instruments | (1,510) | 486 | (12,853) | 1,031 |
| Other financial income/(expenses) | (661) | (3,850) | (1,440) | (4,365) |
| Profit/(loss) before tax | (9,376) | (21,435) | (2,070) | (58,812) |
| Income tax expense | (15) | (40) | (111) | (98) |
| Net income/(loss) after tax | (9,391) | (21,475) | (2,181) | (58,910) |
| Loss/(income) attributible to non-controlling interest | 4 | 0 | 4 | |
| Net income/(loss) after tax attributable to owners of parent | $ (9,387) | $ (21,475) | $ (2,178) | $ (58,910) |
| Basic net income/(loss) per share | $ (0.07) | $ (0.15) | $ (0.02) | $ (0.41) |
| Diluted net income/(loss) per share | $ (0.07) | $ (0.15) | $ (0.02) | $ (0.41) |
| Weighted average number of shares (basic) | 142,418,941 | 143,592,543 | 142,347,867 | 143,405,930 |
| Weighted average number of shares (diluted) | 142,554,889 | 143,602,884 | 142,435,420 | 143,408,748 |
| X | ||||||||||
- Definition The condensed income statement. No definition available.
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- Definition The total of income less expenses after tax. No definition available.
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- Definition The disclosure of the operating expenses. No definition available.
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| X | ||||||||||
- Definition The amount of profit(loss) from the sale of vessels. No definition available.
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| X | ||||||||||
- Definition The amount of shipping revenue. No definition available.
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| X | ||||||||||
- Definition The amount of vessel operating expenses. No definition available.
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| X | ||||||||||
- Definition The amount of voyage expenses. No definition available.
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| X | ||||||||||
- Definition The weighted average number of ordinary shares outstanding plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expenses that the entity classifies as being administrative. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The gains resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of impairment loss, impairment gain or reversal of impairment loss that is recognised in profit or loss in accordance with paragraph 5.5.8 of IFRS 9 and that arises from applying the impairment requirements in Section 5.5 of IFRS 9. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense arising from interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of all operating expenses. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of operating income that the entity does not separately disclose in the same statement or note. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The profit (loss) before tax expense or income. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate amount of the entity's revenue and other operating income. [Refer: Revenue] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of income arising from interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2019 |
Sep. 30, 2018 |
Sep. 30, 2019 |
Sep. 30, 2018 |
|
| Comprehensive income | ||||
| Profit/(loss) for the period | $ (9,387) | $ (21,475) | $ (2,178) | $ (58,910) |
| Items that will not be reclassified to income statement: | ||||
| Remeasurement of defined benefit obligation/(loss) | 0 | 0 | 0 | 0 |
| Total | 0 | 0 | 0 | 0 |
| Items that may be reclassified to income statement: | ||||
| Exchange gain(loss) on translation of foreign currency lease asset/liability | (1) | 0 | (2) | 0 |
| Exchange gain(loss) on translation of foreign currency denominated associate | (64) | (9) | (43) | (63) |
| Other comprehensive income | (66) | (9) | (45) | (63) |
| Total comprehensive income/(loss) for the period | (9,453) | (21,484) | (2,223) | (58,974) |
| Attributable to the owners of parent | $ (9,453) | $ (21,484) | $ (2,223) | $ (58,974) |
| X | ||||||||||
- Definition The amount of other comprehensive income, net of tax, related to exchange differences of denominated associate, when financial statements of foreign operations are translated. No definition available.
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| X | ||||||||||
- Definition The amount of other comprehensive income, net of tax, related to exchange differences of lease asset/liability, when financial statements of foreign operations are translated. No definition available.
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- Definition The amount of profit/(loss) for the period. No definition available.
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- References No definition available.
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- References No definition available.
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- Definition The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The decrease (increase) in a net defined benefit liability (asset) resulting from the remeasurement of that net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of other comprehensive income that will not be reclassified to profit or loss, before tax. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of accounts payable and accrued expenses No definition available.
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- Definition The amount of accounts receivable and accrued revenues No definition available.
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- Definition Amortization of debt issuance costs. No definition available.
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- Definition The amount of bunkers, lube oils and consumables. No definition available.
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- Definition The cash flow associated with capitalized voyage expenses. No definition available.
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- Definition Changes in operating assets and liabilities. No definition available.
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| X | ||||||||||
- Definition The compensation related to options and restricted stock. No definition available.
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| X | ||||||||||
- Definition The amount of deferred shipping revenues. No definition available.
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| X | ||||||||||
- Definition (Gain)/loss purchase of convertible bonds. No definition available.
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| X | ||||||||||
- Definition The amount of investment in vessels. No definition available.
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| X | ||||||||||
- Definition Investment in vessels under construction. No definition available.
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| X | ||||||||||
- Definition Items included in net income not affecting cash flows. No definition available.
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| X | ||||||||||
- Definition Net cash provided by operating activities No definition available.
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- Definition Pension liability No definition available.
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- Definition The amount of prepaid expenses No definition available.
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- Definition The cash outflow to prepay long-term borrowings, classified as financing activities. No definition available.
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- Definition The amount of profit(loss) from the sale of vessels. No definition available.
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- Definition The cash outflow to settle long-term borrowings refinancing, classified as financing activities. [Refer: Borrowings] No definition available.
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- Definition The cash outflow to settle long-term borrowings, sale of vessels, classified as financing activities. [Refer: Borrowings] No definition available.
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| X | ||||||||||
- Definition The specification of items included in operating activities No definition available.
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| X | ||||||||||
- Definition Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Impairment loss (reversal of impairment loss) recognised in profit or loss] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The cash outflow for dividends paid by the entity, classified as financing activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The gains resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The increase (decrease) in cash and cash equivalents. [Refer: Cash and cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The cash outflow for interest paid, classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The cash inflow from interest received, classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The change in equity resulting from the issuing of convertible instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Adjustments for non-cash items to reconcile profit (loss) to net cash flow from (used in) operating activities that the entity does not separately disclose in the same statement or note. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The cash outflow for payment of lease liabilities, classified as financing activities. [Refer: Lease liabilities] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The cash inflow from sales of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The cash outflow for the purchases of long-term assets that the entity does not separately disclose in the same statement or note, classified as investing activities. [Refer: Assets] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The cash outflow for the purchases of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The decrease in equity resulting from the purchase of treasury shares. [Refer: Treasury shares] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The inflows (outflows) of cash from the purchase of convertible bonds, classified as financing activities. No definition available.
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| X | ||||||||||
- Definition The amount of treasury stock cancelled during the period. [Refer: Treasury shares] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of dividends recognised as distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of residual interest in the assets of the entity after deducting all its liabilities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The change in equity resulting from the issuing of convertible instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The decrease in equity resulting from the purchase of treasury shares. [Refer: Treasury shares] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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General information |
9 Months Ended |
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Sep. 30, 2019 | |
| General information [Abstract] | |
| General information | Note 1 - General information DHT Holdings, Inc. (“DHT” or the “Company”) is a company incorporated under the laws of the Marshall Islands whose shares are listed on the New York Stock Exchange. The Company's principal executive office is located at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda. The Company is engaged in the ownership and operation of a fleet of crude oil carriers. The financial statements were approved by the Company's Board of Directors (the “Board”) on October 23, 2019 and authorized for issue on October 23, 2019. |
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- Definition Disclosure of General Company information No definition available.
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- Definition Disclosure of General Company Information No definition available.
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General accounting principles |
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| General accounting principles [Abstract] | ||||||||||||||||||||||||||||||
| General accounting principles | Note 2 - General accounting principles The condensed consolidated interim financial statements do not include all information and disclosure required in the annual financial statements and should be read in conjunction with DHT's audited consolidated financial statements included in its Annual Report on Form 20-F for 2018. The interim results are not necessarily indicative of the results for the entire year or for any future periods. The interim condensed financial statements have been prepared in accordance with IAS 34 “Interim Financial Reporting” as issued by the International Accounting Standards Board (“IASB”). The interim condensed financial statements have been prepared on a historical cost basis, except for derivative financial instruments that have been measured at fair value. The accounting policies that have been followed in these interim condensed financial statements are the same as presented in the 2018 audited consolidated financial statements. These interim condensed consolidated financial statements have been prepared on a going concern basis. Application of new and revised International Financial Reporting Standards (“IFRSs”) New and revised IFRSs, and interpretations mandatory for the first time for the financial year beginning January 1, 2019 are listed below. With the exception of IFRS 16, the adoption did not have any effect on the financial statements:
Adoption of IFRS 16 Leases Effective from January 1, 2019, the Company adopted the new accounting standard IFRS 16 Leases using the modified retrospective method. The Company recognized an initial $1.5 million lease liability and a corresponding right-of-use lease asset to comply with the new lease standard. There was no transition effect on the opening balance of equity, and the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The effects of the change in the accounting standard from IAS 17 Leases to IFRS 16 Leases is described in further detail in DHT's Annual Report on Form 20-F for 2018. As of July 1, 2019, the Company recognized an increase of $1.6 million in the lease liability and a corresponding right-of-use lease asset related to a new contract that fall within the definition of a lease in accordance with IFRS 16. Amounts recognized in the condensed consolidated statement of financial position as of September 30, 2019 after the adoption of IFRS 16 Leases, including additions in 2019, were as follows: Amounts recognized in the consolidated statement of financial position
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- Definition Description of Significant Accounting Principles No definition available.
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- Definition The entire disclosure for significant accounting policies applied by the entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Segment reporting |
9 Months Ended |
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Sep. 30, 2019 | |
| Segment reporting [Abstract] | |
| Segment reporting | Note 3 - Segment reporting Since DHT's business is limited to operating a fleet of crude oil tankers, management has organized the entity as one segment based upon the service provided. Consequently, the Company has one operating segment as defined in IFRS 8, Operating Segments. As of September 30, 2019, the Company had 27 vessels in operation; 5 vessels were on time charters and 22 vessels operating in the spot market. Information about major customers: For the period from July 1, 2019 to September 30, 2019 five customers represented $17.9 million, $11.1 million, $8.7 million, $6.2 million and $5.0 million, respectively, of the Company's revenues. The five customers in aggregate represented $48.9 million, equal to 47 percent of the total revenue of $104.7 million for the period from July 1, 2019 to September 30, 2019. For the period from January 1, 2019 to September 30, 2019 five customers represented $64.2 million, $45.3 million, $38.6 million, $22.9 million and $17.2 million, respectively, of the Company's revenues. The five customers in aggregate represented $188.2 million, equal to 55 percent of the total revenue of $343.2 million for the period from January 1, 2019 to September 30, 2019. For the period from July 1, 2018 to September 30, 2018 five customers represented $18.6 million, $8.4 million, $6.4 million, $5.5 million and $5.3 million, respectively, of the Company's revenues. The five customers in aggregate represented $44.2 million, equal to 49 percent of the total revenue of $90.2 million for the period from July 1, 2018 to September 30, 2018. For the period from January 1, 2018 to September 30, 2018 five customers represented $42.1 million, $27.8 million, $14.9 million, $13.1 million and $12.9 million, respectively, of the Company's revenues. The five customers in aggregate represented $110.8 million, equal to 47 percent of the total revenue of $237.3 million for the period from January 1, 2018 to September 30, 2018.
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- Definition The entire disclosure for operating segments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Interest bearing debt |
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| Interest bearing debt | Note 4 - Interest bearing debt As of September 30, 2019, DHT had interest bearing debt totaling $945.9 million (including the $157.9 million convertible senior notes). Scheduled debt repayments (USD thousands) and margin above Libor
*$25.0 mill. undrawn as of September 30, 2019. **$48.9 mill. available as of September 30, 2019. Quarterly reduction of $1.3 million. ABN Amro Credit Facility In April 2018 the Company entered into a credit facility with ABN Amro, Nordea, Credit Agricole, DNB, ING, Danish Ship Finance, SEB, DVB and Swedbank as lenders and DHT Holdings, Inc. as guarantor for the financing of eleven VLCCs and two newbuildings. Borrowings bear interest at a rate equal to Libor + 2.40% and the loan is repayable in quarterly installments of $8.3 million through Q2 2024 and a final payment of $286.1 with the last installment. The credit facility contains a covenant requiring that at all times the charter-free market value of the vessels that secure the credit facility be no less than 135% of borrowings. Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:
* Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company's vessels (as determined quarterly by an approved broker). Credit Agricole Credit Facility In June 2015 Samco Gamma Ltd and DHT Tiger Limited entered into a credit agreement with Credit Agricole for the financing of the Samco Scandinavia and the newbuilding DHT Tiger that was delivered in January 2017. In June 2016 the Company made a voluntary prepayment of $5.0 million and the financing of the Samco Scandinavia is repayable with 30 quarterly installments of $0.97 million each. The $48.7million financing of DHT Tiger was drawn in 2016 in advance of the delivery of the DHT Tiger which took place in January 2017 and is repayable in quarterly installments of $0.7 million with a final payment of $29.7 in December 2023. The loan bears interest at Libor plus a margin of 2.1875%. The credit agreement is guaranteed by DHT and contains a covenant requiring that at all times the charter-free market value of the vessels that secure the credit facility be no less than 135% of borrowings. Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:
* Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company's vessels (as determined quarterly by an approved broker). Danish Ship Finance Credit Facility In November 2014 the Company entered into a credit facility totaling $49.4 million with Danish Ship Finance (“DSF”) as lender and DHT Holdings, Inc. as guarantor for the financing of the VLCC newbuilding DHT Jaguar delivered in Q4 2015. The full amount of the credit facility was drawn in November 2015. Borrowings bear interest at a rate equal to Libor + 2.25% and are repayable in 10 semiannual installments of $1.3 million each from May 2016 to November 2020 and a final payment of $36.4 million in November 2020. The credit facility contains a covenant requiring that at all times the charter-free market value of the vessel that secure the credit facility be no less than 130% of borrowings. Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:
* Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company's vessels (as determined quarterly by an approved broker). Nordea Credit Facility $204 million of the $300 million credit facility was borrowed during the second quarter of 2017 in connection with delivery of the nine VLCCs in water from BW. The final $96 million was borrowed in connection with the delivery of the two VLCC newbuildings from DSME in the second quarter of 2018. The credit facility is guaranteed by DHT Holdings, Inc., borrowings bear interest at a rate equal to Libor + 2.40%. Subsequent to the sale of the DHT Utah and DHT Utik and the delivery of DHT Stallion and DHT Colt in 2018, the current outstanding is repayable in quarterly installments of $5.4 million with a final payment of $156.3 million in the second quarter of 2023. The credit facility contains a covenant requiring that at all times the charter-free market value of the vessels that secure the credit facility be no less than 135% of borrowings. Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:
* Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company's vessels (as determined quarterly by an approved broker). In September 2018 the Company secured commitment to a $50 million scrubber financing structured through an increase of the existing $300 million secured credit facility entered into in the second quarter of 2017. The increased facility bear the same interest rate equal to Libor + 2.40%. As per September 30, 2019, a total of $25.0 million was drawn and $25.0 million is available. The facility will have quarterly installments of $2.5 million commencing second quarter 2020. Other terms and conditions remain unchanged. ABN Amro Revolving Credit Facility In November 2016, the Company entered into a secured five year revolving credit facility with ABN Amro totaling $50.0 million to be used for general corporate purposes, including security repurchases and the acquisition of ships. The financing bears interest at a rate equal to Libor + 2.50%. In April 2018, the Company entered into an agreement with ABN Amro to increase the revolving credit facility to $57.3 million with a quarterly reduction of $1.8 million starting July 31, 2018. In June 2019, the Company entered into an agreement with ABN to amend the repayment profile by reducing the quarterly reductions from $1.8 million to $1.3 million. Other terms and conditions remains the same. The credit facility contains a covenant requiring that at all times the charter-free market value of the vessels that secure the credit facility be no less than 135% of borrowings. Also, DHT covenants that, throughout the term of the credit facility, DHT, on a consolidated basis, shall maintain:
*Value adjusted defined as an adjustment to reflect the difference between the carrying amount and the market valuations of the Company's vessels (as determined quarterly by an approved broker). Interest rate swaps As of September 30, 2019, the Company has nine amortizing interest rate swaps totaling $385.6 million with maturity ranging from the second quarter 2023 to the third quarter 2023. The average fixed interest rate is 2.95%. As of September 30, 2019, the fair value of the derivative financial liability related to the swaps amounted to $18.6 million. Covenant compliance As of the date of the most recent compliance certificates submitted to the banks, the Company is in compliance with its financial covenants. |
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- References No definition available.
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- Definition The disclosure of detailed information about borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Vessels |
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| Vessels | Note 5 - Vessels The carrying values of the vessels may not represent their fair market value at any point in time since the market prices of second-hand vessels tend to fluctuate with changes in charter rates and the cost of constructing new vessels. Historically, both charter rates and vessel values have been cyclical. The carrying amounts of vessels held and used by us are reviewed for potential impairment or reversal of prior impairment charges whenever events or changes in circumstances indicate that the carrying amount of a particular vessel may not accurately reflect the recoverable amount of a particular vessel. Vessel Costs
*Accumulated numbers **Adjustments to capitalized expenses in 2018 Vessel upgrades
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- Definition Disclosure of Vessels text block. No definition available.
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- Definition Description of information regarding Vessels. No definition available.
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Equity and Convertible Bond Offerings |
9 Months Ended |
|---|---|
Sep. 30, 2019 | |
| Equity and Convertible Bond Offerings [Abstract] | |
| Equity and Convertible Bond Offerings | Note 6 - Equity and Convertible Bond Offerings Convertible Senior Note Offering On September 16, 2014 the Company completed a private placement of $150 million aggregate principal amount of convertible senior notes due 2019 (the “2019 Notes”). DHT will pay interest at a fixed rate of 4.5% per annum, payable semiannually in arrears. Net proceeds to DHT were approximately $145.9 million after the payment of placement agent fees. The value of the conversion right has been estimated to $21.8 million; hence $21.8 million of the aggregate principal amount of $150.0 million was classified as equity. The Notes will be convertible into common stock of DHT at any time after placement until one business day prior to their maturity. The initial conversion price was $8.125 per share of common stock (equivalent to 18,461,538 shares of common stock), and is subject to customary anti-dilution adjustments. As a result of the cumulative effect of previously announced cash dividends, the conversion price was adjusted to $6.0216 effective August 22, 2019. Based on the adjusted conversion price and after adjusting for the repurchase of $44.2 million of the convertible senior notes in the open market at an average price of 94.5% of par, and the private exchange August 2018, the total number of shares to be issued would be 5,457,009. In August 2018 the Company completed a privately negotiated exchange agreement with certain holders of the outstanding 4.5% Convertible Senior Notes due 2019 to exchange approximately $73.0 million aggregate principal amount of the existing notes for approximately $80.3 million aggregate principal amount of the Company's new 4.5% Convertible Senior Notes due 2021. In addition, a private placement was completed of approximately $44.7 million aggregate principal amount of the Company's new 4.5% Convertible Senior Notes due 2021 for gross proceeds of approximately $41.6 million. Net proceeds to DHT were approximately $38.9 million after the payment of placement agent fees. Following closing of the private exchange and the private placement, there are $125 million aggregate principal amount of convertible senior notes due 2021 (the “2021 Notes”) and approximately $32.9 million aggregate principal amount of the 2019 Notes outstanding. The 2021 Notes will bear interest at a rate of 4.5% per annum on the principal amount accruing from August 21, 2018. Interest will be payable semiannually in arrears on February 15 and August 15 each year, beginning on February 2019. Interest is computed on the basis of 360-day year comprised of twelve 30-days months. The initial conversion price was $6.2599 per share of common stock (equivalent to 19,968,370 shares of common stock) and is subject to customary anti-dilution adjustments. As a result of the cumulative effect of previously announced cash dividends, the conversion price was adjusted to 6.0442 effective May 20, 2019. Based on the adjusted conversion price the total number of shares to be issued would be 20,680,983. The 2021 Notes will mature on August 15, 2021, unless earlier converted, redeemed or repurchased in accordance with their terms. On October 1, 2019 the Company announced that holders of $26,434,000 in aggregate principal amount of the Company's 4.5% Convertible Senior Notes due October 1, 2019, exercised their right to convert their notes into shares at the conversion price of $6.0216 per share. As a result the Company issued 4,389,858 shares of common stock. The remaining $6,426,000 in aggregate principal amount was repaid in cash. |
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- Definition The Equity and Convertible Bond Offerings Abstract. No definition available.
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- Definition The entire disclosure for Equity and Convertible Bond Offerings. No definition available.
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Stockholders equity and dividend payment |
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| Stockholders equity and dividend payment | Note 7 - Stockholders equity and dividend payment Stockholders equity
*assuming the maximum Fundamental Change conversion rate. Common stock: Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders. Preferred stock: In the first quarter 2017, the board established two series of preferred stock: Series C Preferred Stock and Series D Preferred Stock, the terms of which are detailed in Current Reports on Form 6-K dated January 30, 2017 and March 24, 2017, respectively. As of September 30, 2019, no shares of Series C Preferred Stock or Series D Preferred Stock were outstanding. Terms and rights of any other preferred shares will be established by the board when or if such shares would be issued. Stock repurchase The Company did not make any share repurchases during Q3 2019. In March 2019, the Company purchased 725,298 of its own shares in the open market for an aggregate consideration of $3.2 million, at an average price of $4.47 per share. Dividend payment Dividend payment as of September 30, 2019:
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- Definition The disclosure of Equity and Dividends No definition available.
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- Definition Equity and Dividends Abstract No definition available.
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Accounts receivable and accrued revenues |
9 Months Ended |
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Sep. 30, 2019 | |
| Accounts receivable and accrued revenues [Abstract] | |
| Accounts receivable and accrued revenues | Note 8 - Accounts receivable and accrued revenues Accounts receivable and accrued revenues totaling $55.0 million as of September 30, 2019 consists mainly of accounts receivable with no material amounts overdue. |
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- Definition Accounts Payable and Accrued Expenses Abstract No definition available.
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- Definition The Disclosure of Accounts Payable and Accrued Expenses No definition available.
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Financial risk management, objectives and policies |
9 Months Ended |
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Sep. 30, 2019 | |
| Financial risk management, objectives and policies [Abstract] | |
| Financial risk management, objectives and policies | Note 9 - Financial risk management, objectives and policies Note 9 in the 2018 annual report on Form 20-F provides for details of financial risk management objectives and policies. The Company's principal financial liability consists of long-term debt with the main purpose being to partly finance the Company's assets and operations. The Company's financial assets mainly comprise cash. The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management oversees the management of these risks.
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- Definition The disclosure of the entity's financial risk management practices and policies. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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Subsequent events |
9 Months Ended |
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Sep. 30, 2019 | |
| Subsequent events [Abstract] | |
| Subsequent events | Note 10 - Subsequent events On October 1, 2019, the Company announced that holders of $26,434,000 in aggregate principal amount of the Company's 4.5% Convertible Senior Notes due October 1, 2019, exercised their right to convert their notes into shares at the conversion price of $6.0216 per share. As a result the Company issued 4,389,858 shares of common stock. The remaining $6,426,000 in aggregate principal amount was repaid in cash. On October 16, 2019, the Company prepaid $35 million under the Nordea Credit Facility. The prepayment was made under the revolving credit facility tranche, which remains available. On October 23, 2019, the Board approved a dividend of $0.05 per common share related to the third quarter 2019 to be paid on November 14, 2019 for shareholders of record as of November 7, 2019. 20
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- Definition Events after the reporting period. No definition available.
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- Definition The entire disclosure for events after the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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General accounting principles (Tables) |
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| Amounts recognized in the consolidated statement of financial position | Amounts recognized in the consolidated statement of financial position
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- Definition The disclosure of general accounting principles. No definition available.
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- Definition The disclosure of the known or reasonably estimable information relevant to assessing the possible impact that the application of a new IFRS, that has been issued but is not yet effective, will have. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Interest bearing debt (Tables) |
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| Scheduled debt repayments and margin above Libor | Scheduled debt repayments (USD thousands) and margin above Libor
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- Definition The disclosure of interest bearing debt. No definition available.
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- Definition The disclosure of scheduled debt repayments. No definition available.
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Vessels (Tables) |
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| Vessel Costs | Vessel Costs
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| Vessel upgrades | Vessel upgrades
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- Definition The tabular disclosure of vessel upgrades. No definition available.
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- Definition Vessels tables. No definition available.
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Stockholders equity and dividend payment (Tables) |
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| Stockholders equity | Stockholders equity
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| Dividend payment | Dividend payment as of September 30, 2019:
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- Definition The disclosure of dividend payments. No definition available.
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- Definition The disclosure of stockholders' equity and dividend payments. No definition available.
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- Definition The disclosure of stockholders' equity. No definition available.
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General accounting principles (Details) $ in Thousands |
Sep. 30, 2019
USD ($)
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| Disclosure of expected impact of initial application of new standards or interpretations [abstract] | |
| Lease liability (Other non-current liabilities) | $ 2,194 |
| Lease liability (Other current liabilities) | 565 |
| Right-of-use asset (Other property, plant and equipment) | $ 2,732 |
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- Definition The amount of current lease liabilities that the entity does not separately disclose in the same statement or note. No definition available.
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- Definition The amount of non-current lease liabilities that the entity does not separately disclose in the same statement or note. No definition available.
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- References No definition available.
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- Definition The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The scheduled debt repayment amount. No definition available.
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- Definition The scheduled debt repayment amount in the after the third fiscal year following the latest fiscal year. No definition available.
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- Definition The scheduled debt repayment amount in the next fiscal year following the latest fiscal year. No definition available.
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- Definition The scheduled debt repayment amount in three months following the latest fiscal quarter. No definition available.
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- Definition The scheduled debt repayment amount in the second fiscal year following the latest fiscal year. No definition available.
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- Definition The difference between amortized cost and notional amount of convertible notes. No definition available.
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- Definition Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). No definition available.
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- Definition Description of the interest rate for the revolving credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). No definition available.
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| X | ||||||||||
- Definition Scheduled debt repayments Abstract No definition available.
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| X | ||||||||||
- Definition The total interest bearing debt. No definition available.
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| X | ||||||||||
- Definition The amount of unamortized upfront fees. No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Vessels - Vessel costs, depreciation, impairment and amortization, and carrying amount (Details) $ in Thousands |
9 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Sep. 30, 2019
USD ($)
| ||||||
| Property, Plant and Equipment | ||||||
| As of beginning of period | $ 1,665,810 | |||||
| As of end of period | 1,611,115 | |||||
| Total Cost [Member] | ||||||
| Property, Plant and Equipment | ||||||
| As of January 1 | 2,071,456 | |||||
| Additions | (1,157) | [1] | ||||
| Transferred from vessels upgrades | 30,991 | |||||
| Retirement | (3,116) | |||||
| As of September 30 | 2,098,174 | |||||
| Total Accumulated Depreciation and Impairment [Member] | ||||||
| Property, Plant and Equipment | ||||||
| As of beginning of period | 405,646 | [2] | ||||
| Depreciation and amortization | 84,529 | [2] | ||||
| Impairment charges | 0 | [2] | ||||
| Retirement | (3,116) | [2] | ||||
| As of end of period | $ 487,060 | [2] | ||||
| ||||||
| X | ||||||||||
- Definition The amount of accumulated depreciation and impairment of vessels and time charter contracts No definition available.
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| X | ||||||||||
- Definition Accumulated depreciation and impairment of vessels and time charter contracts charge for the period. No definition available.
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| X | ||||||||||
- Definition Additions to vessels and time charter contracts. No definition available.
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| X | ||||||||||
- Definition Net book value of vessels and time charter contracts. No definition available.
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| X | ||||||||||
- Definition Relates to completed depreciation. No definition available.
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| X | ||||||||||
- Definition Relates to completed depreciation of drydocking costs. No definition available.
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| X | ||||||||||
- Definition Transferred from vessels upgrades. No definition available.
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| X | ||||||||||
- Definition Vessels and time charter contracts cost. No definition available.
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| X | ||||||||||
- Definition The amount recognised as a reduction of the carrying amount of an asset or cash-generating unit to its recoverable amount. [Refer: Carrying amount [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Vessels - Cost of vessel upgrades (Details) $ in Thousands |
9 Months Ended |
|---|---|
|
Sep. 30, 2019
USD ($)
| |
| Cost Of Vessel Upgrades [Abstract] | |
| At January 1 | $ 0 |
| Additions to vessel upgrades | 36,639 |
| Transferred to vessels | (30,991) |
| At September 30 | 5,648 |
| Carrying amount at January 1 | 0 |
| Carrying amount at September 30 | $ 5,648 |
| X | ||||||||||
- Definition Additions to vessel upgrades. No definition available.
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| X | ||||||||||
- Definition Advances for vessel upgrades. No definition available.
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| X | ||||||||||
- Definition Cost of vessel upgrades abstract. No definition available.
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| X | ||||||||||
- Definition Costs transferred to vessels. No definition available.
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| X | ||||||||||
- Definition Vessel upgrades. No definition available.
|
Stockholders equity and dividend payment - Stockholders equity (Details) |
Sep. 30, 2019
$ / shares
shares
|
|||
|---|---|---|---|---|
| Common Stock [Member] | ||||
| Stockholders' equity | ||||
| Issued at September 30 | 142,418,941 | |||
| Numbers of shares authorized for issue at September 30, 2019 | 250,000,000 | |||
| Par value | $ / shares | $ 0.01 | |||
| Common Stock [Member] | Convertible notes due 2019 [Member] | ||||
| Stockholders' equity | ||||
| Shares to be issued assuming conversion of convertible notes | 6,789,844 | [1] | ||
| Common Stock [Member] | Convertible Notes due 2021 [Member] | ||||
| Stockholders' equity | ||||
| Shares to be issued assuming conversion of convertible notes | 30,824,087 | [1] | ||
| Preferred Stock [Member] | ||||
| Stockholders' equity | ||||
| Numbers of shares authorized for issue at September 30, 2019 | 1,000,000 | |||
| Par value | $ / shares | $ 0.01 | |||
| ||||
| X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. No definition available.
|
| X | ||||||||||
- Definition The number of shares to be issued assuming conversion of convertible notes. No definition available.
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| X | ||||||||||
- Definition Disclosure of stockholders' equity. No definition available.
|
| X | ||||||||||
- Definition The number of shares authorised. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The nominal value per share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Stockholders equity and dividend payment - Dividend payment (Details) - USD ($) |
3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
Nov. 14, 2019 |
Aug. 29, 2019 |
May 28, 2019 |
Feb. 26, 2019 |
Nov. 23, 2018 |
Aug. 31, 2018 |
May 30, 2018 |
Feb. 28, 2018 |
Sep. 30, 2019 |
Dec. 30, 2018 |
|
| Dividend Payment [Abstract] | ||||||||||
| Payment | $ 2,800,000 | $ 11,400,000 | $ 7,100,000 | $ 2,900,000 | $ 2,900,000 | $ 2,900,000 | $ 2,900,000 | |||
| Total Payment | $ 21,300,000 | $ 11,500,000 | ||||||||
| Per common share | $ 0.05 | $ 0.02 | $ 0.08 | $ 0.05 | $ 0.02 | $ 0.02 | $ 0.02 | $ 0.02 | $ 0.15 | $ 0.08 |
| X | ||||||||||
- Definition The amount of dividends recognised as distributions to owners. No definition available.
|
| X | ||||||||||
- Definition Disclosure of dividend payments. No definition available.
|
| X | ||||||||||
- Definition The annual amount of dividends recognised as distributions to owners. No definition available.
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| X | ||||||||||
- Definition The amount of dividends paid per ordinary share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Subsequent events (Details Text) - USD ($) |
3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Oct. 03, 2019 |
Nov. 14, 2019 |
Aug. 29, 2019 |
May 28, 2019 |
Feb. 26, 2019 |
Nov. 23, 2018 |
Aug. 31, 2018 |
May 30, 2018 |
Feb. 28, 2018 |
Sep. 30, 2019 |
Dec. 30, 2018 |
Oct. 16, 2019 |
|
| Dividend Payment | ||||||||||||
| Per common share | $ 0.05 | $ 0.02 | $ 0.08 | $ 0.05 | $ 0.02 | $ 0.02 | $ 0.02 | $ 0.02 | $ 0.15 | $ 0.08 | ||
| Nordea Credit Facility [Member] | ||||||||||||
| Debt prepayments | ||||||||||||
| Prepayments of lines of credit | $ 35,000,000 | |||||||||||
| Convertible notes due 2019 [Member] | ||||||||||||
| Conversion of Convertible Notes | ||||||||||||
| Conversion of Stock, Amount Converted | $ 26,434,000 | |||||||||||
| Conversion price per share | $ 6.0216 | |||||||||||
| Shares issued | 4,389,858 | |||||||||||
| Remaining in aggregate principal amount repaid in cash | $ 6,426,000 | |||||||||||
| X | ||||||||||
- Definition The conversion of convertible notes. No definition available.
|
| X | ||||||||||
- Definition The value of the stock converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. No definition available.
|
| X | ||||||||||
- Definition The price per share of the convertible notes at the time of conversion. No definition available.
|
| X | ||||||||||
- Definition Debt prepayments. No definition available.
|
| X | ||||||||||
- Definition Disclosure of dividend payments. No definition available.
|
| X | ||||||||||
- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. No definition available.
|
| X | ||||||||||
- Definition The remaining in aggregate principal amount repaid in cash. No definition available.
|
| X | ||||||||||
- Definition Number of shares issued during the period as a result of the conversion of convertible securities. No definition available.
|
| X | ||||||||||
- Definition The amount of dividends paid per ordinary share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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