Hafnia could face difficulties financing major acquisition from biggest rival

Hafnia is in the process of acquiring 12 vessels from its largest rival, Scorpio Tankers, in a cash transaction estimated at USD 360m. It could prove difficult for Hafnia to finance such a large deal with the current stock prices, analyst tells ShippingWatch.

"Generally, we examine all options that may strengthen our business strategically and which are attractively priced," says Hafnia CEO Mikael Skov to ShippingWatch. | Photo: PR/Hafnia

Hafnia undauntedly continues its acquisition hunt on a strained tanker market, and if current negotiations fall into place with the carrier’s largest rival, Scorpio Tankers, the expanding tanker operator is going to strengthen its global leadership considerably.

In a stock exchange notice, Hafnia confirmed market rumors that the carrier is in negotiations with Scorpio Tankers on acquiring 12 LR1 tankers from its US rival.

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