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Hafnia expects gradual improvement after loss in the first quarter

Low activity and low demand for oil resulted in a loss of USD 15.7 million for tanker carrier Hafnia in the first quarter of the year. CEO Mikael Skov expects an improvement of the market toward the third quarter.

Mikael Skov, CEO, Hafnia | Photo: PR / Hafnia

Weak demand for oil, as a result of the Covid-19 pandemic, pressured revenue at product tanker carrier Hafnia in the first quarter, wherein the company saw a net loss of USD 15.7 million.

The revenue of USD 179 million was significantly lower than the first quarter of 2020, in which Hafnia generated USD 268 million, while the net result was USD 77 million.

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