Brief: Hafnia Ltd Q2 Net Profit $213.3 Mln

Hafnia

25/08/2023 07:18

Aug 25 (Reuters) - Hafnia Ltd  HAFNI.OL :
    * Q2 NET PROFIT OF USD 213.3 MILLION
    * END-Q2 NET ASSET VALUE (NAV) OF ABOUT USD 3.5 BILLION
    * ANNOUNCES 60% DIVIDEND PAY-OUT OF USD 0.2528 PER SHARE OR
USD
128.0 MILLION (BASED ON A NET LTV RATIO OF 30.1%) FOR Q2
    * PRODUCT TANKER MARKET CONDITIONS ARE EXPECTED TO REMAIN
STRONG
FOR REMAINDER OF YEAR
    * HIGH REFINERY MARGINS, REBOUND IN CHINESE DEMAND,
DECLINING
EUROPEAN PRODUCT INVENTORIES SET TO CREATE HIGHER DEMAND FOR
PRODUCT TANKERS
    * ALTHOUGH CONTRACTING ACTIVITIES HAVE RECENTLY STARTED TO
INCREASE FOR DELIVERY IN 2026/27, SUPPLY WILL BE TIGHT IN COMING
YEARS
    * AS OF 23 AUG, HAVE FOR Q3 COVERED 78% OF EARNING DAYS AT
AVERAGE
OF USD 27,616 PER DAY AND 46% COVERED AT USD 27,102 PER DAY FOR
REST OF 2023

Source text for Eikon:  ID:nObi9KyXNa 
Further company coverage:  HAFNI.OL 

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