UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 under
the
Securities Exchange Act of 1934
For
the month of January, 2008.
DOUBLE
HULL TANKERS, INC.
(Exact
name of Registrant as specified in its charter)
26
New
Street
St.
Helier, Jersey JE23A
Channel
Islands
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form 20-F
þ Form 40-F
o
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):
Yes
o
No
þ
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
Yes
o
No
þ
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
o
No
þ
If
“Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
THIS
REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE
PROSPECTUS INCLUDED IN THE REGISTRATION STATEMENT ON FORM F-3 (FILE NO.
333-147001) OF DOUBLE HULL TANKERS, INC. AND TO BE A PART THEREOF FROM THE
DATE
ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS
OR
REPORTS SUBSEQUENTLY FILED OR FURNISHED.
The
press
release issued by Double Hull Tankers, Inc. on January 4, 2008 related to the
setting of a dividend policy is attached hereto as Exhibit 99.1 and is
incorporated herein by reference
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Exhibit
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Description
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99.1
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Press
Release dated January 4, 2008 of Double Hull Tankers,
Inc.
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Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
| Double Hull Tankers, Inc. | |||||||
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(Registrant)
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Date:
January 4, 2008
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By
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/s/
Eirik Ubøe
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Eirik
Ubøe
Chief
Financial Officer
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Exhibit
99.1
Double
Hull Tankers, Inc. sets dividend policy to a fixed
annual
amount of $1.00 per share
ST.
HELIER, JERSEY, CHANNEL ISLANDS, January 4, 2008 – Double Hull Tankers, Inc.
(“DHT”) (NYSE:DHT) today announced that its Board of Directors has set a
dividend policy to provide the shareholders with a fixed quarterly dividend
of
$0.25 per common share commencing with the first dividend payment attributable
to the 2008 fiscal year.
This
dividend policy is intended to provide shareholders with a stable and visible
distribution and also position the Company to use its incremental cash flow
to
fund future growth opportunities.
In
reference to the recent acquisition of two suezmax tankers chartered to Overseas
Shipholding Group (“OSG”) on long term bare boat charters, the Company believes
the fundamentals for the tanker market will remain strong and allow for
additional growth opportunities. The present spot market in which the vessels
are operating is substantially higher than the base charter hire, and serves
the
basis for the vessels to earn significant additional hire and generate
significant cash flow over and above the base hire under the profit sharing
arrangements the Company has with OSG. The dividend policy allows for
a dividend amount that is consistent with the Company’s business model of having
its vessels on long term charters with financially strong
customers. The long term strategy of the Company remains to increase
shareholder value and provide stable and predictable dividend
payments.
The
Board
of Directors of DHT retains the discretion to review and amend the Company’s
dividend policy and declare quarterly dividends that deviate from the above
quarterly estimated dividend of $0.25 per common share, taking into
consideration legal restrictions, covenants under the Company’s credit agreement
and changes in the Company’s operating cash flow from various market
conditions.
Forward
Looking Statements
This
press release contains assumptions, expectations, projections, intentions and
beliefs about future events, in particular regarding daily charter rates, vessel
utilization, the future number of newbuildings, oil prices and seasonal
fluctuations in vessel supply and demand. When used in this document,
words such as “believe,” “intend,” “anticipate,” “estimate,” “project,”
“forecast,” “plan,” “potential,” “will,” “may,” “should,” and “expect” and
similar expressions are intended to identify forward-looking statements but
are
not the exclusive means of identifying such statements. These statements are
intended as “forward-looking statements.” All statements in this
document that are not statements of historical fact are forward-looking
statements.
The
forward-looking statements included in this press release reflect DHT’s current
views with respect to future events and are subject to certain risks,
uncertainties and assumptions. We caution that assumptions,
expectations, projections, intentions and beliefs about future events may and
often do vary from actual results and the differences can be material. The
reasons for this include the risks, uncertainties and factors described under
the section of our latest annual report on Form 20-F entitled “Risk Factors,” a
copy of which is available on the SEC’s website at www.sec.gov. These
include the risk that DHT may not be able to pay dividends; the highly cyclical
nature of the tanker industry; global demand for oil and oil products; the
number of newbuilding deliveries and the scrapping rate of older vessels; the
risks associated with acquiring additional vessels; changes in trading patterns
for particular commodities significantly impacting overall tonnage requirements;
risks related to terrorist attacks and international hostilities; expectations
about the availability of insurance; our ability to repay our credit facility
or
obtain additional financing; our ability to find replacement charters for our
vessels when their current charters expire; compliance costs with environmental
laws and regulations; risks incident to vessel operation, including discharge
of
pollutants; and unanticipated changes in laws and regulations.
Should
one or more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described in the forward-looking statements included in this press release.
DHT
does not intend, and does not assume any obligation, to update these
forward-looking statements.
CONTACT:
Eirik
Ubøe, CFO
Phone:
+44 1534 639 759 and +47 412 92 712 (mobile)
E-mail:
info@dhtankers.com
and eu@tankersservices.com