Denmark-based shipping company Hafnia Tankers has completed a sale and leaseback agreement for one of its LR1 tankers in the Japanese market.
Under the deal, the company’s 2010-built tanker, MT Hafnia Australia, was sold to an undisclosed Japanese private ship owning company with a 12-year bareboat charter back.
Hafnia Tankers has annual purchase options for the ship from year four onwards.
The tanker was disposed of at market value and a fully levered lease arrangement which gives rise to a positive liquidity effect of around USD 8.7 million.
The profile of the lease arrangement allows Hafnia Tankers to abide by its strict policy of maintaining a low cash-breakeven.
The transaction was finalized and the 74,539 dwt ship was handed over to its new owner.