Depreciation and amortization expenses, including depreciation of capitalized dry docking costs, were $23.0 million for the nine month period ending September 30, 2011 compared with $21.2 million for the same period of 2010. The increase was due to depreciation on the two vessels acquired during 2011 which was partially offset by impact on depreciation of increasing the residual value of our other vessels as of January 1, 2011.Due to the weak tanker markets and decline in values for second hand tankers, the Company has recorded an impairment charge of $56.0 million in the third quarter. The impairment charge is a non-cash item. There was no impairment charge for the same period in 2010.
DHT Holdings, Inc. Reports Third Quarter 2011 Results And Declares Quarterly Dividend Of $0.03 Per Share
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