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.
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