Hafnia (One-pager): FY2024 forecast to surpass record 2023 according to analysts
Read the latest Hafnia One-pager update following the Q1 2024 results. The One-pager includes a brief description of Hafnia, an update to the product tanker market, latest financials, valuation perspectives relative to a peer group, and outlines several key investment risks and key investment reasons.
In Q1 2024, Hafnia continued experiencing strong product tanker markets as fundamentals remain attractive, driven by growing oil supply and demand forecasts, increasing ton-miles as Eastern refineries service more Western customers, high utilisation, low on-land inventories, and an orderbook that remains low on net. Hafnia continued returning significant value to shareholders paying a dividend of USD 0.3443 per share, with consensus analyst estimates forecasting a dividend yield FY 2024 of 14.1%. Ongoing strong market conditions and a low LTV (loan-to-value) can continue supporting shareholder returns.
To learn more about Hafnia and its outlook for the remainder of 2024 and beyond, catch up on the latest Q1 2024 earnings presentation with Hafnia CEO Mikael Skov
Link: https://www.inderes.dk/videos/hafnia-presentation-of-q1-interim-report-2024
Disclaimer: HC Andersen Capital receives payment from Hafnia for a DigitalIR/corporate visibility subscription agreement./ Philip Coombes 08:30 23.05.2024
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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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