Hafnia Tankers Acquires LR1 Quartet

Danish shipping company Hafnia Tankers has entered into an agreement to acquire four LR1 product tankers as it pushes to further expand its business within the product tanker segment.

The quarter is scheduled to be delivered during the month of February. Once delivered, the vessels will all be joining the Straits Tankers LR1 Pool.

The vessels in question are:

• Kihada – to be renamed Hafnia Africa, built in 2010 by STX;
•  Arctic Char – to be renamed Hafnia Arctic, built in 2010 by Brodosplit;
•  Maguro – to be renamed Hafnia Asia, built in 2010 by STX; and
•  Karei – to be renamed Hafnia Australia, built in 2010 by STX.

” The Straits Tankers LR1 Pool operates one of the world’s largest LR1 fleets with more than 30 vessels in the pool. We are pleased to expand our presence in the LR1 segment and will now have balanced activities within the Handy, MR and LR1 segments,” the company said.

Upon delivery of these new vessels, Hafnia Tankers will operate a fleet of 29 vessels on the water (23 owned and 6 time chartered-in) with another 14 vessels under construction to be delivered in 2015 and 2016.

Hafnia said that the acquisition is fully financed through equity commitments and credit facilities.

The company signed credit facilities with ABN AMRO Bank N.V., Singapore Branch and Danske Bank A/S acting as Joint Bookrunners and Mandated Lead Arrangers. ABN AMRO is acting as Facility Agent.

The credit facility is secured by mortgages on these vessels.