Hafnia acquires a 32-strong fuel-efficient tanker fleet

Singapore-based tanker owner and operator Hafnia has unveiled the decision to acquire 32 fuel-efficient IMO II product/chemical tankers.

As informed, the company has entered into a share purchase agreement to acquire all outstanding shares in Chemical Tankers Inc (CTI) (formerly Navig8 Chemical Tankers), thereby taking over control of CTI’s fleet of 32 vessels.

The CTI fleet consists exclusively of high specification ECO design vessels and is comprised of six MR 49,000 dwt IMO II coated tankers built in Korea between 2015 and 2016, eighteen Handy 38,000 dwt IMO II coated tankers built in Korea between 2015 and 2016, and eight Intermediate 25,000 dwt IMO II Stainless Steel tankers built in Japan between 2016 and 2017.

According to Hafnia, the deal underscores its commitment to grow its platform to maximise stakeholder value. Consolidation enables Hafnia to achieve improved earnings capability through the shipping cycle. What is more, the transaction will complement Hafnia’s existing commercial activities in the Handy and MR segments whilst enabling enhanced trading flexibility through the ability to carry both clean petroleum products and chemicals, limiting ballast time by optimising triangulation and offering material cost synergies.

Previous articlePETRONAS signs HOA with Bintulu Prilled Urea
Next articleKanthal joins collaborative research project