Hafnia grows fleet in joint ventures with Andromeda and CSSC Shipping

Oslo-listed product tanker unit of the BW Group, Hafnia, has grown its fleet through two joint ventures, adding a pair of MR newbuilds and declaring an option for a dual-fuel LR2 liquefied natural gas (LNG) duo.

The Singapore-based company has acquired the two MRs through its 50/50 joint venture established with Monaco-based International Andromeda Shipping. The joint venture has already taken delivery of one MR newbuild while another ship is slated for delivery in 2022. Both vessels have been fixed on five-year contracts. Andromeda ordered the pair at Hyundai Mipo in June last year for $70m.

Meanwhile, Vista Shipping, a joint venture set up by Hafnia and CSSC Shipping, exercised an option for two additional LR2 dual-fuel LNG ships worth $59m. Following delivery, the vessels will go on a five-year charter with an oil major and grow the JVs fleet to eight vessels.

At the end of the second quarter, the Michael Skov-led Hafnia had 85 owned and 13 chartered-in vessels.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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