Hafnia is not behind a reported purchase of two MR tankers controlled by TRF Ship Management.
One broking source had cited the New York and Oslo-listed company as the buyer of the 37,600-dwt chemical/products ships TRF Mongstad and TRF Moss (both built 2016).
But a Hafnia spokesperson denied it had acquired the tankers. They remain trading in Hafnia’s chemical pool.
Oslo-based TRF Ship Management, the operator of US-based TRF’s fleet, has not commented.
The scrubber-fitted ships, built at Hyundai Mipo Dockyard in South Korea, were said to have been sold at $36.5m each.
VesselsValue rates them as worth $42m, up from $29.6m two years ago.
TRF Ship Management would be left with a capesize bulker, an MR1 tanker and a chemical carrier if the sales are confirmed.
Three LR2s are also on order in China for delivery in 2025.
In March, TRF sold a modern VLCC to Geneva-based Advantage Tankers for a very firm price above its original newbuilding cost.
Chief executive Tugrul Tokgoz confirmed to TradeWinds that Advantage had acquired the 300,000-dwt Eco Seas (built 2016).
Brokers had reported the vessel changing hands for $98.5m.
The ownership of the tanker had changed in late 2022, from a 50/50 share with Awilco to 100% TRF.
Hafnia puts cash to use
Also last month, BW Group’s Hafnia put its excess cash to use through a series of vessel buybacks to lower financial costs.
The giant owner revealed it had repurchased five product tankers from leases.
Purchase options were declared on two MRs, the 49,100-dwt Hafnia Viridian and Hafnia Violette (both built 2015), under an agreement with Jiangsu Financial Leasing in China.
Three other smaller handysize ships were bought back from CSSC (Hong Kong) Shipping.
The 37,600-dwt Hafnia Alabaster and Hafnia Aragonite (both built 2015) were repurchased last month, and the owner exercised an option to take back the 37,600-dwt handysize Hafnia Achroite (built 2016), worth $41m.
The five ships have a combined value of around $216m.
Hafnia had $141.6m in cash on its balance sheet on 31 December after a record year for profit.
Earnings came in at $793.3m for 2023, an all-time high for the second year running.
Net profit in the fourth quarter was $176.4m, down from $263.8m in the same period of 2022, when rates were even higher than they are now.
Hafnia has commercial management of more than 200 vessels across eight pools and controls 130 of its own.
