This is Hafnia
Hafnia operates 175 vessels within 4 vessel segments
A Diverse, Young Fleet
Hafnia’s fleet operates globally and has a total carrying capacity of approximately 6.1 million dwt. With an average age approximately 6.8 years (excluding newbuilds), most of our vessels have a modern eco-design which incorporates the latest technological improvements designed to optimise speed, fuel consumption and reduce emissions. A young and well-maintained fleet reduces operating costs, improves safety, vessel utilisation and quality of service delivered to customers. This is a competitive advantage for securing favorable charters with high-quality counterparties.
Our owned fleet’s average age of approximately 6.8 years (excluding newbuilds) compares well to the average age in the global LR2, LR1, MR and Handy fleets at approximately 8.8, 10.5, 10.1 and 13.9 years respectively (source: Clarksons Research’s database, February 2020). The estimated useful life span of each vessel is 25 years
Products Transported
The Handy and MRs carry a wide range of oil and oil products which includes gasoline, diesel, naphtha, kerosene, vegetable oil, fuel, crude oil, and chemicals.
The LR1 and LR2 vessels carry a wide range of oil products which includes gasoline, diesel, naphtha, kerosene, fuel and crude oil.
Employment and Earnings
Hafnia employs its vessels within the three Hafnia pools, except for the LR2 fleet. Revenue from vessels’ employment within the pools reflects the number of vessels in the pools, the number of days during which the vessels in the fleet operate and the freight rates that the vessels earn under charter employment.
Type | TCE income/ voyage day (USD thousand) |
Handy | USD 14,157 |
MR | USD 15,642 |
LR1 | USD 17,334 |
LR2 | USD 22,732 |
TCE income has been adjusted by adding back pool commissions amounting to USD 3.4 million.
Technical and Crewing
Hafnia has a fully integrated technical department, that is responsible for the marine, vetting, security functions and crew management for the owned fleet to ensure that the highest standards with regard to safety and environment are maintained on board. The technical department draws support and knowledge from the external technical managers in relation to crew management, newbuild supervision, purchasing support and development and/ or application of certain technology solutions for its IT platform.
Strategy 2020
Green initiatives within the shipping environment and Hafnia’s strategy towards a long-term fleet transitioning to lower emissions vessels are progressing, but will take time. Hafnia follows all new technologies closely and is always in dialogue with shipyards and other stakeholders.
Hafnia may divest a number of its older vessels to make room in the fleet for alternatives with ECO type vessels chartered-in or bought second hand.
Furthermore, Hafnia will continue to maintain, improve and upgrade its existing fleet. This includes fuel consumption reduction via improved antifouling and engine room management, intermediate dry dockings, waste heat recovery, as well as optimising maintenance utilisation.
Purchase options and obligations
The following table presents an overview of the Group’s purchase options for chartered-in vessels. In USD million
Name | Type | Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 |
Compass | LR1 | 2006 | – | 12.301 | 9.552 | 6.803 | – | – | – | – | – | – |
Compassion | LR1 | 2006 | – | 12.301 | 9.552 | 6.803 | – | – | – | – | – | – |
Orient Challenge | MR | 2017 | 33.50 | 31.90 | 30.30 | 28.70 | 27.10 | 25.50 | 23.90 | – | – | – |
Orient Innovation | MR | 2017 | 33.50 | 31.90 | 30.30 | 28.70 | 27.10 | 25.50 | 23.90 | – | – | – |
Beagle | MR | 2019 | – | – | – | – | 34.25 | 32.75 | 31.25 | 29.75 | – | – |
Basset | MR | 2020 | – | – | – | – | 34.25 | 32.75 | 31.25 | 29.75 | – | – |
Boxer | MR | 2019 | – | – | – | – | 34.25 | 32.75 | 31.25 | 29.75 | – | – |
Bulldog | MR | 2020 | – | – | – | – | 34.25 | 32.75 | 31.25 | 29.75 | – | – |
Sunda | LR1 | 2019 | – | – | – | – | 42.00 | 40.00 | 38.00 | 36.00 | – | – |
Karimata | LR1 | 2019 | – | – | – | – | 42.00 | 40.00 | 38.00 | 36.00 | – | – |
Hafnia Africa | LR1 | 2010 | – | 24.00 | 19.60 | 17.10 | 14.60 | 12.10 | 9.6 | 8.00 | 5.50 | 3.00 |
Hafnia Australia | LR1 | 2010 | – | 21.00 | 19.00 | 17.00 | 14.90 | 12.90 | 10.90 | 8.90 | 6.35 | – |
Hafnia Asia | LR1 | 2010 | 24.18 | 23.70 | 22.86 | 21.25 | 19.38 | – | – | – | – | – |
Hafnia Arctic | LR1 | 2010 | 25.15 | 24.65 | 23.77 | 22.10 | 20.15 | – | – | – | – | – |
1 A termination fee of USD 3.5 million will be applicable if the charter party period is not extended or the Group has not exercised its purchase option.
2 A termination fee of USD 2.6 million will be applicable if the charter party period is not extended or the Group has not exercised its purchase option.
3 A termination fee of USD 1.5 million will be applicable if the Group has not exercised its purchase option
Purchase obligations
In USD million
Name | Type | Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 |
Hafnia Australia | LR1 | 2010 | – | – | – | – | – | – | – | – | – | 4.20 |
Hafnia Asia | LR1 | 2010 | – | – | – | – | – | 17.25 | – | – | – | – |
Hafnia Arctic | LR1 | 2010 | – | – | – | – | – | 17.94 | – | – | – | – |
Tonnage chartered in and out
Time chartered in tonnage as of December 2019
Name | 2020 Days |
2020 USD/Day |
2021 Days |
2021 USD/Day |
2022 Days |
2022 USD/Day |
MR | 2,903 | 16,658 | 2,920 | 16,650 | 2,920 | 16,650 |
LR1 | 166 | 12,500 | – | – | – | – |
Name | 2023 Days |
2023 USD/Day |
2024 Days |
2024 USD/Day |
2025 Days |
2025 USD/Day |
MR | 2,920 | 16,650 | 2,126 | 16,607 | 398 | 15,908 |
LR1 | – | – | – | – | – | – |
Bareboat chartered in tonnage as of 31 December 2019
Name | 2020 Days |
2020 USD/Day |
2021 Days |
2021 USD/Day |
2022 Days |
2022 USD/Day |
MR | 732 | 9.950 | 528 | 9.950 | – | – |
Chartered out tonnage as of 31 December 2019
Name | 2020 Days |
2020 USD/Day |
2021 Days |
2021 USD/Day |
2022 Days |
2022 USD/Day |
MR | 947 | 17,495 | 482 | 17,750 | – | – |
LR1 | 1,568 | 24,875 | 1,095 | 25,500 | 920 | 25,525 |