Hafnia (One-pager): Market dislocations continue supporting market in 2024
Read the latest Hafnia One-pager update following the FY 2023 results. The One-pager includes a brief description of Hafnia, an update to the product tanker market outlook, latest financials, valuation perspectives relative to a peer group and outlines several key investment risks and key investment reasons.
Hafnia delivered a record result in 2023 as product tanker markets remained strong in 2023, supported by greater ton miles due to continued sanctions on Russia and disruptions in the Red Sea and Panama Canal. The market also experienced favourable demand and supply dynamics in 2023 which are projected to continue into 2024.
To learn more read the full One-pager or catch up with the presentation of the annual results presentation with Hafnia CEO, Mikael Skov.
Presentation link: https://www.inderes.dk/videos/hafnia-presentation-of-the-2023-annual-results-event
Disclaimer: HC Andersen Capital receives payment from Hafnia for a DigitalIR/Corporate Visibility subscription agreement./ Philip Coombes 16:00 22/03/2024.
Hafnia is an international shipping company that specializes in the transportation of oil and chemical products. It started trading in Norway on the NOTC marketplace for unlisted shares in 2013. In 2019 Hafnia listed on the main market in Norway – Oslo Stock Exchange. The company, headquartered in Singapore, operates in the product tanker market, where it manages six pools combining self-owned and externally-owned vessels to benefit from economies of scale. The pools distribute profits/loss across all vessels in the pool, and Hafnia charges a commission for operating externally-owned tankers. Hafnia’s six pools are categorized by vessel size/type, and reflect the fleet of vessels it owns. Its six pools are the: Handy Pool, MR Pool, LR Pool, LR2 Pool, Specialized Pool and Chemicals Pool. The MR and LR pools are considerably outsize the Handy and Specialized pools in terms of revenue and fleet size. Hafnia’s pools are primarily active in the product tanker spot market, but has also recently ramped up on chemical tankers. In addition, Hafnia procures the bunker fuel for its partners at competitive prices for which it receives a commission.
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