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Hafnia expects more active vessels to strain product tanker in 2021

Tanker shipping company Hafnia reports a profit of USD 149 million in 2020 despite a red fourth quarter. Hafnia believes in recovery for the product tanker market, but not until the second half of the year.

Photo: PR / Hafnia

In what was a stormy 2020 for the tanker market, marked by major ups and downs, Hafnia books a profit of USD 149 million – a doubling compared to the year before.

While the tanker carrier achieved a total profit of USD 175.2 million after the first three quarters last year, the fourth quarter turned out to be a rather dire affair for the tanker market with a drop in demand and a strain on rates.

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