Hafnia acquires a pair of MR product tankers from Gestion Maritime
Hafnia Ltd (member of BW Group) says it has entered into an agreement with Gestion Maritime to acquire two Medium Range product tankers, StenaWeco Andrea Corrado and StenaWeco Caterina Corrado. The vessels were built at Hyundai Mipo Dockyard in 2015, and are expected to be delivered October/November 2019. Sale of Hafnia AtlanticOn 30 August 2019, Hafnia entered into an agreement to sell Hafnia Atlantic (IMO 9278519), a 2004-built Liberia-flagged Medium Range product tanker.
The sale is in line with the Company’s broader fleet renewal strategy.Hafnia Atlantic was delivered to her new owner on 11 September 2019. Signing of USD 473 Million Senior Secured Term Loan and Revolving Credit FacilityOn 24 September 2019, Hafnia signed a USD473 Million senior secured term loan and revolving credit facility to refinance its existing USD360 Million facility and USD236 Million facility, maturing in 2023and 2022respectively. This refinancing was raised from tenbanksfrom Europe and Asia, with an interestmargin of 1.60%, seven-yeartenor and 17-year age-adjusted profile.Thesecurity package includes 33 vessels consisting of two Long Range 1 product tankers, 17 Medium Range product tankers and 13 Handy vessels.
Hafnia Chief FinancialOfficer, Perry van Echtelt, says: “We appreciatethe strong support from our lenders, both existing and new. This refinancing demonstrates Hafnia’s abilityto tap upon highly competitive capital which will extend our maturity profile, lower our cost of debt and improve liquidity”.Hafnia Chief ExecutiveOfficer,Mikael Skov,says“We are reaping the benefits of scale and heritage as a result of the merger. Vessel acquisition keeps our fleet modern and young, and refinancing of our revolving credit facility enhances our financial flexibility. Together, these efforts further strengthen our competitive edge”.
Hafnia Ltd is the result of a merger between Hafnia Tankers and BW Tankers and now operates as an international shipping company. Hafnia offers seaborne transportation of petroleum products worldwide and is owner and operator of fleet of tankers.
