Product tanker company Hafnia, like its competitors, was impacted by a difficult market in the third quarter, ultimately landing the company in a deficit. However, the company remains in a profit for 2019 and sees signs of a market improvement from the beginning of the fourth quarter.
Former BW Tankers Chief Executive Tina Revsbech has found her new executive position in shipping. A little over a year ago she departed BW Tankers in the midst of the company's merger plans with Hafnia, with Mikael Skov ending up as CEO of the merged company.
Hafnia could be worth more than USD 1 billion a year from now, says an analyst from Cleaves Securities. Commenting overall, he explains that it has become more challenging to raise money in shipping, though he sees this as a positive sign.
Tanker operator Hafnia has set a new deadline for investors and lowered the offering price on its shares ahead of the company's full listing in Oslo on Friday. The cause is unrest surrounding tanker shares.
Hafnia lists its stock on Norwegian exchange Oslo Axess under the Oslo Stock Exchange. Its book-building process, taking place on Oct. 31, gives a good indication of the price its shares will be traded at, and thus the shipping company's value.
First VLCC rates soared to USD 300,000 per day, then dipped down to USD 150,000 to end up around USD 100,000. But the still-high level could have a longer-term impact on product tanker, Hafnia tells ShippingWatch. Clarksons Platou agrees.
Oslo is an obvious place for a full listing of Hafnia, the product tanker operator's CEO Mikael Skov tells ShippingWatch. The plans for a potential listing come at a time when numerous stakeholders expect increasing rates.
Product tanker shipping company Hafnia just landed an agreement to buy two newer tanker vessels, previously part of Stena Bulk's fleet. Meanwhile, the company sells one vessel and secures a new credit facility.
Shipping companies will have to deliver in 2020 if investors are to return to the shipping industry, says Hafnia's CEO Mikael Skov. Recovery is predicted for product tanker in particular. Now the industry has to prove these expectations correct.
Unlike several of its competitors, Hafnia books a profit on its bottom line for the second quarter. "We've been good at focusing on business despite our many integration processes," CEO Mikael Skov tells ShippingWatch.
The merger of BW Tankers and Hafnia Tankers into the new Hafnia could be followed up with new acquisitions, says CEO Mikael Skov in an interview with ShippingWatch. He points to one segment as particularly interesting.
The new Hafnia reports a profit for its first three months as an independent company following the merger between Hafnia Tankers and BW Tankers. The shipping company is optimistic about the future, in which the 2020 regulations are expected to boost activity.
Det nye Hafnia får overskud i sine første tre måneder som selvstændigt selskab efter fusionen mellem Hafnia Tankers og BW Tankers. Rederiet ser lyst på fremtiden, hvor 2020-kravene ventes at give medvind.
Flere rederier oplever store problemer og uoverenstemmelser, når de tanker brændstof til deres skibe i Rotterdam. Nu overvejer et dansk rederi at tage sagen i egen hånd med et utraditionelt forslag til sine leverandører.
Maersk Tankers wanted to acquire Hafnia's fleet, but was beaten by BW Group and the Sohmen-Pao family with an attractive offer to buy the entire shipping company. ShippingWatch reconstructs the story about how one of the world's biggest product tanker carriers was created.
Are the three recent changes in ownership of Unifeeder, Nordic Tankers and Hafnia Tankers a sign that private equity is leaving shipping after gaining hard-earned experience? Not necessarily, say several observers. ShippingWatch provides an overview of the transactions completed in recent years.
Hafnia Tankers and BW Tankers can now move to the next stage of their merger, which will create a new, major product tanker player under the Hafnia name. On Thursday, Hafnia's shareholders approved the merger.
The new Hafnia company that will be born with the merger between BW Tankers and Hafnia Tankers will become a major player in product tanker Better utilization and fleet positioning will be possible, CEO Mikael Skov tells ShippingWatch. Most of 2018 brought a disappointing product tanker market, he says.
One of the world's largest product tanker carriers will soon see the light of day. According to several sources speaking to ShippingWatch, the merger between Hafnia and BW Tankers is expected to be secured within the next few weeks.
Hafnia Tankers doubled its deficit in the third quarter, a period described by several product tanker operators as historically weak. Rates are looking stronger in the fourth quarter, reports Hafnia Tankers.