Hafnia books small profit despite significant rate drops

Oil demand is down again after the second wave of coronavirus washed over Europe, writes tanker shipping company Hafnia in its interim report. Rates also dropped in the third quarter, but the company still reports a profit.

Photo: PR / Hafnia

The second wave of coronavirus has washed over the western world causing demand for oil to drop again, writes tanker shipping company Hafnia in its interim report for the third quarter.

At the same time, many of the vessels used as floating oil storage in spring when oil prices collapsed have returned to the active fleet and are back to transporting oil around the world.

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