v3.24.3
Vessels (Tables)
 9 Months Ended
Sep. 30, 2024
Vessels [Abstract]  
Vessel Costs
Vessels

Cost of Vessels      
$ in thousands
      
At January 1, 2024
    
2,052,878
  
Transferred from vessels upgrades
    
6,649
  
Retirement 1     (8,339 )
At September 30, 2024
    
2,051,188
  

Depreciation and amortization
      
$ in thousands
      
At January 1, 2024
    
769,168
  
Depreciation and amortization 2
    
82,826
  
Retirement 1     (8,339 )
At September 30, 2024
    
843,655
  

Carrying Amount        
$ in thousands
            
At January 1, 2024
    
1,283,710
  
At September 30, 2024
    
1,207,533
  
1Relates to completed depreciation of drydocking for DHT Bauhinia and DHT Europe.
2 Relates solely to depreciation of vessels, drydocking, and EGCS. Depreciation of office leases and other property, plant, and equipment represents an additional $1,437 thousand, which combined with the depreciation of vessels, drydocking, and EGCS comprises $84,264 thousand in depreciation and amortization.

Advances for vessel upgrades

Cost of advances for vessel upgrades relates to prepaid drydocking.

Cost of advances of vessel upgrades      
$ in thousands
      
At January 1, 2024
    
10
  
Additions
    
6,639
  
Transferred to vessels
    
(6,649
)
At September 30, 2024
    
-
  
Vessel costs advances for vessels under construction Advances for vessels under construction

Cost of vessels under construction      
$ in thousands
      
At January 1, 2024
    
-
  
Additions
     78,870  
At September 30, 2024
    
78,870
  
Future expected payments for vessels under construction

The following table represents future expected payments related to the vessels under construction as of September 30, 2024:

Vessels under construction      
$ in thousands
      
Within the next 12 months
    
102,566
  
From one year to three years     339,946  
At September 30, 2024*
    
442,512
  


*These are estimates only and are subject to change as construction progresses.