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.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

DB Schenker defends carriers in red-hot container market

One of the major global customers, German DB Schenker, defends the quality offered by container lines in the exceedingly feverish market, which other freight forwards have criticized in strong terms. Even the high rates are in order, says the COO of Air & Ocean in an interview with ShippingWatch.

Azane Fuel Solutions was created during the pandemic using Teams

Azane Fuel Solutions was established in the middle of the pandemic. Digital meetings and planning over the phone proved no obstacles for top execs at Amon Maritime and Econnect Energy during the start-up. Now they have to set up bunkering terminals for ammonia in two and a half years.

Further reading

Related articles

Trial banner

Latest news

See all jobs