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Hafnia

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HAFNI

Oslo Børs

Transport & Logistics

Industrials

Hafnia is an international shipping company that specializes in the transportation of oil and chemical products. It started trading in Norway on the NOTC marketplace for unlisted shares in 2013. In 2019 Hafnia listed on the main market in Norway – Oslo Stock Exchange. The company, headquartered in Singapore, operates in the product tanker market, where it manages six pools combining self-owned and externally-owned vessels to benefit from economies of scale. The pools distribute profits/loss across all vessels in the pool, and Hafnia charges a commission for operating externally-owned tankers. Hafnia’s six pools are categorized by vessel size/type, and reflect the fleet of vessels it owns. Its six pools are the: Handy Pool, MR Pool, LR Pool, LR2 Pool, Specialized Pool and Chemicals Pool. The MR and LR pools are considerably outsize the Handy and Specialized pools in terms of revenue and fleet size. Hafnia’s pools are primarily active in the product tanker spot market, but has also recently ramped up on chemical tankers. In addition, Hafnia procures the bunker fuel for its partners at competitive prices for which it receives a commission.

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Market cap
-
Turnover
-
Revenue
22.93B
EBIT %
16.2 %
P/E
-
Dividend yield-%
-
Coverage
Disclaimer
Philip Coombes
Rasmus Køjborg
Rasmus Køjborg, Philip Coombes
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Latest research

Latest analysis report

Released: 2026-03-09

Financial calendar
26/5
2026

General meeting '26

27/5
2026

Interim report Q1'26

28/8
2026

Interim report Q2'26

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Hafnia (Investment Case): Strong cash flow and dividends in the face of geopolitical uncertainty
Research by
Philip Coombes

Hafnia (Investment Case): Strong cash flow and dividends in the face of geopolitical uncertainty

Hafnia delivered its strongest quarter of 2025 in Q4, reporting net profit of USD 110m and bringing full-year earnings to USD 340m. Despite a softer first half as rates came off their 2024 cyclical peaks, the company generated USD 560m in adjusted EBITDA and returned 88% of net profit to shareholders through dividends and buybacks,  paying USD 0.55/share for the full year.

Hafnia

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Hafnia - Presentation of Q4 2025
Webcast

Hafnia - Presentation of Q4 2025

You can now sign up and submit questions to the Q4 and full-year 2025 results presentation with Hafnia, one of the world's largest product tanker owners. The report will be published on Thursday 26 February 2026. On the following day at 12.30 CET, CEO Mikael Skov will present the full-year 2025 results, key highlights, and outlook for 2026. Questions can be submitted in advance, and you don't need to attend live to participate.

Hafnia
Hafnia – Presentation of the quarterly report for Q3 2025
Webcast

Hafnia – Presentation of the quarterly report for Q3 2025

You can now sign up and submit questions to the Q3 2025 results presentation with Hafnia, one of the world’s largest product tanker owners. The report will be published on Monday 1 December. The day after, Tuesday 2 December at 11:00 a.m., CEO Mikael Skov will present the Q3 results, key highlights, and outlook for the rest of 2025. Questions can be submitted in advance, and you don’t need to attend live to participate.

Hafnia
Hafnia Q3 2025 - Solid results in line with consensus driven by tighter vessel supply
Analyst Comment by
Philip Coombes

Hafnia Q3 2025 - Solid results in line with consensus driven by tighter vessel supply

Hafnia this morning released its financial results for the third quarter of 2025, which came in slightly above Q2 2025 and broadly in line with market expectations. The product tanker market benefited in Q3 from larger LR2 vessels switching to the crude market, reducing supply, while attacks on Russian oil refineries reduced availability of Russian oil products, increasing output from the Middle East and Asia, with a positive ton mile effect.

Hafnia
Hafnia (One-pager): Steady Q2 2025 results and continued capital discipline in a normalizing market
Research by
Philip Coombes, Rasmus Køjborg

Hafnia (One-pager): Steady Q2 2025 results and continued capital discipline in a normalizing market

Read the latest Hafnia One-pager update following the Q2 2025 results. The One-pager includes a brief company profile, a market update on product tankers, the latest financial performance, and valuation perspectives relative to peers. It also outlines several key investment risks and reasons to consider Hafnia as an investment case.

Hafnia
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