Hafnia enters sale-and-leaseback deal

Hafnia enters sale-and-leaseback deal

31-07-2018 12:00:00

SHORT NEWS: Hafnia Tankers has sold their LR1 tankers Hafnia Asia and Hafnia Arctic to Sole Shipping Special Opportunities Fund II, only to lease the ships back on a 7-year contract. The sale improves Hafnia's liquidity by 17 million dollars

Hafnia has made similar sale-and-leaseback contracts with Hafnia Australia and Hafnia Africa. The sale comes at a time when many product tanker companies sell out in order to secure liquidity at a time when the segment is under pressure due to low rates.

BW Group, with Danish Carsten Mortensen at the forefront, purchased 36.3 percent of Hafnia’s shares earlier this month. Along with previous acquisitions, BW Group now owns 43.5 percent of Hafnia Tankers.

Source: Tradewinds / Maritime Danmark

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