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Hafnia Limited Announces Financial Results For The Three and Six Months Ended 30 June 2026

  • Hafnia Limited reported a net profit of USD 277.8 million (USD 0.56 per share) for Q2 2026, compared to USD 75.3 million in Q2 2025.
  • Time Charter Equivalent (TCE) earnings reached USD 372.9 million in Q2 2026, with an average daily rate of USD 44,093.
  • Adjusted EBITDA for Q2 2026 was USD 287.3 million, more than double the USD 134.2 million recorded in the same period last year.
  • The company announced a dividend distribution of USD 250.0 million (USD 0.5003 per share) for Q2, representing a 90% payout ratio.
  • Net asset value (NAV) stood at approximately USD 4.4 billion at quarter-end, equivalent to USD 8.89 per share.
  • Net loan-to-value (LTV) ratio decreased to 13.0% from 20.2% in Q1 2026, driven by strong cash flow and vessel sales.
  • CEO Mikael Skov will step down on 1 September 2026 after 16 years, to be succeeded by Søren Steenberg Jensen.
  • Fleet renewal activities included the sale of one LR1, two MR, and three Handy vessels in Q2, plus a stake in H&A Shipping JV yielding USD 13.3 million.
  • Market conditions remain disrupted by conflicts in the Persian Gulf, with the Strait of Hormuz closure and pressure on Bab el-Mandeb routes extending voyage distances.
  • 80% of Q3 2026 earning days were covered as of 17 August 2026 at an average rate of USD 30,716 per day.
  • First Half 2026 net profit totaled USD 457.5 million, with average TCE earnings of USD 36,887 per day.
  • Hafnia holds a 13.97% stake in TORM with a market value of USD 369.0 million at quarter-end.
  • The company operates 103 owned vessels plus 9 time-chartered-in vessels, with a total fleet estimated broker value of USD 4,255 million.