Skov set to reign at merged Hafnia/BW product giant

Skov set to reign at merged Hafnia/BW product giant

Hafnia Tankers’ shareholders will vote on January 10 whether or not to proceed with a merger with Andreas Sohmen-Pao’s BW Tankers. The vote is likely to be in favour of the consolidation at which moment Michael Skov, Hafnia’s CEO, will become CEO of the merged company, it has been revealed.

On the rationale for the merger, Hafnia stated in a release on Friday: “The combined company will have an attractive and high quality fleet active across all relevant segments, and the combined company will be one of the largest pure-play product tanker business in the world with a fleet of 86 vessels (including newbuilds and excluding sale and leaseback vessels). The management team expects that there will be a number of important synergies to be achieved with the combined platform, including improved terms for financing, global commercial platform with chartering teams in Singapore, Houston and Copenhagen and increased efficiency with both in-house technical (from BW Tankers) and use of third party providers.”

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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