Hafnia swoops for Scorpio’s LR1 fleet

BW Group-controlled Hafnia has confirmed today in a release to the Oslo Bors that it is in advanced negotiations with Scorpio Tankers to buy all of the 12 LR1 tankers in Scorpio’s 130-ship strong fleet.

Fearnleys expects Scorpio to get prices in the “mid-$30m range” for each vessel, suggesting the whole deal is worth $420m.

Hafnia commercially operates a fleet of 198 vessels including 34 LR1s. Hafnia has been on an expansion charge of late. In November last year Splash reported on Hafnia swooping for Oaktree Capital Management’s Chemical Tankers Inc (CTI), a fleet consisting of six 49,000 dwt MRs, eighteen 38,000 dwt handies and eight 25,000 dwt stainless steel tankers.

Hafnia, like parent BW, has long been an advocate of consolidation. “Consolidation enables Hafnia to achieve improved earnings capability through the shipping cycle,” the company said in a release to the Oslo Bors at the time of the CTI acquisition.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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