Hafnia Sells, Leases Back LR1 to Improve Liquidity

Denmark-based Hafnia Tankers has completed its first sale and leaseback transaction in the Japanese market involving the company’s LR1 tanker, MT Hafnia Africa.

As informed, the 74,500 dwt vessel has been sold to “a large Japanese private ship owning company” with an 8-year bareboat charter back with annual purchase options from year four onwards.

The company has an option to extend the lease to 12 years, according to Hafnia.

“The transaction entailed a sale of the vessel at market value and a fully levered lease arrangement which gives rise to a positive liquidity effect of approx. USD 8.5 million and further adds to the already strong cash position. The profile of the lease arrangement allows the company to abide by its strict policy of maintaining a low cash-breakeven,” the company said in a statement.

Following the completion of the transaction, the vessel has been delivered to an unnamed owner.

Built at STX Offshore shipyard in South Korea in 2010, Hafnia Africa currently has a market value of USD 23.03 million, VesselsValue’s data shows.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >