Hafnia's Q2 Net Profit Drops to $75.3mln Due to Scheduled Drydocking

Hafnia Limited reported a Q2 net profit of $75.3 million, down from $259.2 million in the same period last year, due to scheduled drydocking of vessels. EBITDA was $134.174 million, compared to $317.083 million in the prior year. The company anticipates another 510 off-hire days in Q3 and has a net asset value of approximately $3.3 billion. A quarterly dividend of $0.1210 per share will be paid.

Hafnia Limited, a leading product tanker company, has announced its financial results for the second quarter of 2025. The company reported a net profit of USD 75.3 million, a decrease of USD 183.9 million compared to the same period last year. This decline can be attributed to scheduled drydocking of vessels, which resulted in approximately 630 off-hire days during the quarter [1].

The company's EBITDA for the quarter was USD 134.174 million, down from USD 317.083 million in the prior year. Despite the reduction in earnings, Hafnia's net asset value (NAV) remained strong, standing at approximately USD 3.3 billion, or USD 6.55 per share [1].

Hafnia's commercially managed pool and bunker procurement business generated income of USD 7.9 million, a decrease of USD 2.8 million from the previous year. Time Charter Equivalent (TCE) earnings were USD 231.2 million, down from USD 417.4 million in the same period last year, resulting in an average TCE of USD 24,452 per day [1].

The company anticipates another 510 off-hire days in the third quarter of 2025. Despite the challenges, Hafnia's CEO, Mikael Skov, remains optimistic about the company's future. He noted that the strong momentum in Hafnia's second quarter has continued into the third quarter, driven by strong global demand and improved refining margins [1].

Hafnia will distribute a total of USD 60.3 million in dividends, corresponding to a payout ratio of 80%. This payout will amount to USD 0.1210 per share [1].

References:

[1] https://www.stocktitan.net/news/HAFN/hafnia-limited-announces-financial-results-for-the-three-and-six-ndcrw2sicdmm.html