Hafnia Prices IPO Of 10.52 Mln Shares At $20 Each

Hafnia signed a contract with Hyundai Heavy Industries to build eight Medium-Range newbuild product/chemical tankers for approximately $405 million. The deal is a material fleet expansion capex that should increase Hafnia's product tanker capacity and revenue potential, but is a routine newbuilding order unlikely to move markets materially.

Analysis

Hafnia signed a contract with Hyundai Heavy Industries to build eight Medium-Range newbuild product/chemical tankers for approximately $405 million. The deal is a material fleet expansion capex that should increase Hafnia's product tanker capacity and revenue potential, but is a routine newbuilding order unlikely to move markets materially.