Double Hull Tankers, Inc. Announces Secondary Offering.

ST. HELIER, Channel Islands -- Double Hull Tankers, Inc. (NYSE: DHT) today announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed secondary offering of 4,600,000 shares of its common stock. All of the shares of common stock to be registered are currently owned and will be offered and sold by Overseas Shipholding Group, Inc. (OSG) and certain of its affiliates, which collectively own approximately 44.5% of DHT's outstanding common stock. DHT will not receive any proceeds from the sale of the shares of common stock being registered.

OSG is DHT's largest stockholder and its most important business partner, and is expected to remain so upon completion of this offering. The shares subject to the offering are being registered pursuant to a registration rights agreement entered between DHT and OSG at the time of the IPO in October of 2005.

OSG may offer and sell the shares held by it directly or through agents or broker-dealers on terms to be determined at the time of sale. These sales may be made on the New York Stock Exchange or other national security exchanges on which DHT's common stock is then traded, in the over-the-counter market or in negotiated transactions. To the extent required, the names of any agent or broker-dealer and applicable commissions or discounts and any other required information with respect to any particular offer will be set forth in a prospectus supplement delivered to prospective investors. A prospectus supplement also may add, update or change information related to the offering.

OSG will pay brokerage fees, selling commission and underwriting discounts, if any, incurred in connection with disposing of the shares. Pursuant to the registration rights agreement with DHT, OSG will also bear DHT's costs, fees and expenses incurred in effecting the registration of the shares related to the offering.

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 prospectus included in our registration statement on Form F-1 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.

A copy of the prospectus relating to these securities may be obtained, when available, from: DHT at 26 New Street, St. Helier, Jersey JE23RA Channel Islands.

A registration statement relating to the securities to be sold by OSG has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State.