Hafnia Limited (“Hafnia”, the “Company”, OSE ticker code: “HAFNI”) has entered into a share purchase agreement to acquire all outstanding shares in Chemical Tankers Inc (“CTI”) (the “Transaction”), thereby taking over control of CTI’s fleet of 32 modern and fuel-efficient IMO II product/chemical tankers (the “CTI fleet”).
The CTI fleet consists exclusively of high specification ECO design vessels, constructed at leading shipyards, and is comprised of the following:
- 6 x MR (49,000 dwt) IMO II coated tankers built in Korea between 2015 and 2016
- 18 x Handy (38,000 dwt) IMO II coated tankers built in Korea between 2015 and 2016
- 8 x Intermediate (25,000 dwt) IMO II Stainless Steel tankers built in Japan between 2016 and 2017
This will complement commercial activities of the current fleet of 201 product tankers by enabling better utilisation of vessels, trading flexibility, limiting ballast time by optimising triangulation and offering material cost synergies.
“The addition of the CTI fleet will help enhance our resilience in the face of volatile markets and create a more sustainable and future-proof transportation business that will include the ability to transport methanol, in addition to many other cargoes. I am grateful to Oaktree and the deal teams on both sides for their hard work towards the completion of the Transaction.” said Hafnia CEO Mikael Skov.
This brings the total fleet owned by Hafnia to 133 vessels and the number of tankers under Hafnia’s commercial control to 233.