Hafnia Tankers Ltd (Hafnia) has successfully completed a sale and leaseback in the Japanese market through the sale and leaseback of its 2010 built LR1 tanker, MT Hafnia Australia.

The Vessel has been sold to a Japanese private ship owning company (the “Lessor”) with a 12-year bareboat charter back with annual purchase options from year four onwards.

Hafnia Tankers Completes Sale & Leaseback of MT Hafnia Australia
Caption: Oil Products Tanker Hafnia Australia - Image courtesy of Marcel Coster

The Transaction entailed a sale of the Vessel at market value and a fully levered lease arrangement which gives rise to a positive liquidity effect of approx. $8.7 million and further adds to the already strong cash position.

The profile of the lease arrangement allows the Company to abide by its strict policy of maintaining a low cash-breakeven.

The Transaction has been consummated and the Vessel has been delivered to the Lessor. Fearnley Securities AS acted as sole financial advisor to the Company for the Transaction.

Source: Hafnia Tankers