Hafnia Tankers Q1 2024 report

Boy, I must have been really distracted last week- specifically, 05/15. Hafnia Tankers (HAFN) also reported on that day.

  • TCE revenue of $378.8M
  • Adjusted EBITDA of $287.1M
  • Net profit of $219.6M
  • Fleet avg TCE $36 230 daily
  • Declared div of $0.3443/sh

One of the Slides (Slide 10) goes into details on the Pool and Bunker commission structure. Company also has purchase options on some of the charter-in vessels. HAFN’s div payout is dependent on debt levels - company is currently at a high level - 80% of net income (given debt levels between 20 - 30%