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>

<< Apr 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 1 2 3

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >