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Hafnia Tankers books deficit for Q2

Hafnia Tankers' bottom line went negative in the second quarter, as the market remains characterized by an oversupply of vessels and full oil deposits.

Media: Hafnia Tankers discussing merger with Diamond S Shipping

According to media Tradewinds, negotiations are taking place between Hafnia Tankers, headquartered north of Copenhagen, and US Diamond S Shipping, which is controlled by equity fund investor and current US Secretary of Commerce Wilbur Ross (pictured). Hafnia Tankers CEO declines to comment to ShippingWatch.

Consolidation wave could be in store for product tanker

There will be more mergers, acquisitions, and general consolidation in the product tanker market within the next 12-24 months, Hafnia Tankers and Jyske Bank tell ShippingWatch. Torm Executive Director Jacob Meldgaard is also open to the idea.

Hafnia Tankers made USD 6 million in Q1

The tanker carrier anticipated higher earnings in the first quarter of the year. But a large number of newbuildings and a lack of fluctuations in the oil price resulted in a lower profit for Hafnia Tankers.

Key figure and co-founder leaves Hafnia Tankers

Jan Mechlenburg, who until recently served as Executive Vice President of Hafnia Tankers, left the tanker carrier at the turn of the year. He is one of the carrier's founders along with several other former Torm executives.

Tanker carriers have burned through millions this year

Tanker carriers have spent millions of dollars in the first nine months of 2016. Especially Scorpio Tankers drags down the average, according to a review by ShippingWatch. A healthy cash flow is crucial during hard times for product tankers, notes one analyst.

OPEC deal could boost tanker carriers

An agreement at next week's OPEC meeting would likely increase speculative oil trading. In the short term this could boost the product tanker market which is otherwise crippled by overcapacity and filled stockpiles, Hafnia Tankers CEO Mikael Skov tells ShippingWatch.

Hafnia Tankers CEO: Rate slide came earlier than expected

The product tanker boom was expected to turn around sooner or later. But it happened a bit earlier than expected, explains Hafnia Tankers CEO Mikael Skov. However, the chief executive believes that the market will be "fundamentally healthy" again by as early as next year.

Tanker market puts pressure on Hafnia Tankers' earnings

The first six months of 2016 brought a USD 17.2 million profit for Hafnia Tankers, which is a setback compared to last year. Oil stockpiles and more ships on the water sent rates down in the second quarter, notes management.

Torm and Hafnia are investor hunting on Park Ave

Over the next few days, basically every living entity in tanker carriers and potential investors will meet in New York at an event oddly reminiscent of speed-dating. The equity funds on Park Avenue are immensely popular right now, and carriers such as Torm and Hafnia are itching for an IPO.

J. Lauritzen has sold it stake in Hafnia Tankers

Struggling J. Lauritzen has sold its 5.3 percent stake in highly profitable Hafnia Tankers as part of a trade with its owner, Lauritzen Fonden. The tanker carrier pays USD 31 million in dividends to its shareholders.

Hafnia Tankers made USD 77 million in 2015

Hafnia Tankers made USD 77 million in 2015, which became the best year for the product tanker market since 2009. The low oil price, booming trade in oil products and not least 11 new vessels on the water helped boost the carrier, CEO Mikael Skov tells ShippingWatch.

Hafnia Tankers investor buys stake in Maersk

Hafnia Tankers is not the only target for business man Jan Bech Andersen and his shipping investments. Last week, he expanded his private portfolio in Maersk, which he calls a "no brainer" at the current share price.

No IPO for Hafnia Tankers before 2016

All signs indicate that Hafnia Tankers will not seek a New York listing before 2016. BW Pacific's failed IPO reflects a stock market with little investor appetite for shipping shares in general.

Shipping crisis weakens investor interest

BW Group's cancellation of the IPO of its product tanker carrier BW Pacific could be bad news for Hafnia Tankers and other somewhat new companies with similar ambitions. Things are looking better for Torm, financial sources tell ShippingWatch.

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