08/23
Hafnia Tankers (HAFN) announced their Q2 2024 results, including
- TCE Income of $417.4M
- Adjusted EBITDA of $317.1M
- Net Profit of $259.2M
- Div of $0.4049/sh
Some subsequent individual vessel transactions and 72% done for Q3 @ ~ $35K daily bode well for a normally weaker Q3. HAFN mention the shift of some dirty tankers to the clean side in Q2 - Q3. But expect many of those vessels to return to dirty when that sector picks back up.
The top-line in slides isn’t Revenue, so it throws the margin calculation. But, I use their TCE as a guide, and in particular, the rate for their most common vessel, MR2. For me, MR2 > $30K daily is way above-avg
[Edit: The other vessel categories are also “above average” for TCE rates. But, I was focusing on the big contributor, and that would be the MR2 - as seen by > 50% of the operating days in Q2]