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Hafnia Tankers Books First Quarter Profit

Hafnia Tankers Books First Quarter Profit

12-05-2018 10:00:00

Hafnia generated an operating profit for the three months ended March 31, 2018 of $7.7 million and a net profit of $0.4 million. The book value of the fleet, as of March 31, 2018 was $1,018.3 million.

Gross earnings per day during First Quarter of 2018 were $13,825 per LR1 vessel, $15,325 per MR vessel and $13,850 per SR vessel.

Overall, the positive trend of increasing demand for refined products and reduced supply of newbuild tonnage continues, however short-term demand has primarily drawn down inventories instead of increasing seaborne transportation.

Commercial management of the product tankers is organized under Hafnia Management.

The three divisions LR1, MR, and SR have 127 ships under management including future commitments. As of March 31, 2018, Hafnia's fleet consisted of 42 vessels. Vista Shipping, has an order book of four LR1 newbuilds to be delivered in 2019, with an option for additional two vessels.

Source: Hafnia Tankers

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