Hafnia Tankers announced results on 12/01 including
- Operating rev of $366.5M
- Net Income of $91.5M
- TCE avg pf $26,500 daily
- Declared div of 14.6c/sh for Q3
- Fleet addition via Sale & Leaseback transactions, plus exit of 4 vessels
Well, the above might be pertinent to Q3 2025 results. But, the bigger item is tied to its acquisition of Torm Plc (TRMD) shares from Oaktree Capital. HAFN only acquired 14.5% of Torm’s shares. Oaktree Capital still owns about 26% of Torm. But, it sounds like Oaktree Capital is closing out its Torm stake. I know Oaktree Capital owned a special class of Torm share, and a board seat. Not sure what happens with the special class of Torm share. Does it migrate to Hafnia Tankers (HAFN) after the Torm shares that Oaktree Capital still owns transfer to HAFN? How will HAFN fund the acquisition of those shares? It matters, as the payout is connected to leverage ratio.
Lots of other stuff in that report and the earnings call. The main items being potential opening of Red Sea route, and its impact on current flows. Also, the impact of new LR2s (many, maybe most, end up in the dirty or DPP trades)