Hafnia Limited ("Hafnia," the "Company," OSE ticker code: "HAFNI") has today entered into an agreement for an en bloc sale of its eight stainless steel vessels (the “Vessels”) to Ace Tankers Management B.V. ("Ace Tankers") for a total net consideration of USD 252.4 million (the "Transaction"), releasing approximately USD 50 million in cash to Hafnia.

Four of the Vessels are currently financed by sale and leaseback facilities, and the remaining four vessels are financed by Japanese operating leases with call options. The Transaction remains subject to lendersconsent.

The Vessels were built in 2016 (four) and 2017 (four) in Japan.

The Vessels are planned to be delivered from Hafnia to Ace Tankers as soon as practically possible, expected within 30 September 2022, except for "Hafnia Spark" and "Hafnia Stellar", which are expected to be delivered in September 2023.

"Divesting the stainless-steel vessels, which is a non-core segment, is according to our strategy, and focus remains on the core Product and Chemical IMO2 tanker segments. The price achieved reflects a strong interest in the stainless-steel segment." says Hafnia's CEO, Mikael Skov.

This information is considered to include inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Thomas Andersen, EVP Investor Relations, Research and Performance Management at Hafnia, at the date and time as set out above.

About Hafnia

Hafnia is one of the world's leading oil product tanker owners and operators. The Company provides transportation of oil and oil products to leading national and international oil companies, major chemical companies, as well as trading and utility companies. Hafnia commercially operates a fleet of 237 vessels, including newbuilds. Among them, 145 are owned or chartered-in, including 10 owned LR2s, 40 owned and chartered-in LR1s, 58 owned and chartered-in MRs, 29 owned Handy and eight Stainless Steel 25K vessels. The Company has a net asset value in excess of USD 1bn and is fully financed with a strong balance sheet providing financial flexibility.

Hafnia has a solid history in chartering, operations, and technical management, and strives to offer customers the best solution for their transportation needs. This solution-focused approach has resulted in a strong reputation and the Company remains firmly committed to being a responsible member of the industry and operating according to the highest ethical standards.

Hafnia is a global company with offices in Singapore, Copenhagen, Dubai and Houston and a presence in Mumbai. The Company is part of BW Group, an international shipping group that has worked in oil and gas transportation, floating gas infrastructure, environmental technologies, and deep-water production for over 80 years.

Hafnia press release