Hafnia has sold its 50% stake in two MR tankers held through its H&A Shipping joint venture in the third quarter, generating a profit of $13.3 million.

The H&A Shipping joint venture was established in 2021 as a Singapore-registered equal partnership between Hafnia and Greek shipowner Andromeda Shipholdings Ltd. The venture owns two MR tankers built by Hyundai Mipo Dockyard – the Yellow Stars and the PS Stars – both of which are on long-term time charters to Clearlake.

Mikael Skov, who stepped down as Hafnia's CEO on September 1, confirmed the sale but did not disclose the buyer's identity or the transaction value.  

According to the company's official information, it continued its fleet renewal strategy during the quarter. In the second quarter of 2026, Hafnia completed the sale of one LR1 tanker, two MR tankers, and three handy tankers. As part of its ongoing structural adjustment of its fleet of over 100 owned vessels, Hafnia recorded a gain of $39.3 million from vessel sales in Q2 2026. At the end of the second quarter, the company operated a fleet of 103 owned vessels and 9 time-chartered vessels, comprising 10 LR2s, 28 LR1s, 54 MRs, and 20 handy tankers.

Mikael Skov said that the market has yet to return to normal since the outbreak of the Persian Gulf conflict. "After a ceasefire memorandum was signed in June, the Strait of Hormuz briefly saw partial resumption of traffic, but that soon ended, and the strait was effectively closed again in early July. Crude oil exports from the Gulf region in July, including routes bypassing the strait, fell sharply by 2.1 million barrels per day to 15 million barrels per day."

Against this backdrop, Hafnia posted a net profit of $277.8 million in the second quarter, with a fleet average TCE of $44,093 per day.

According to the announcement, Mikael Skov stepped down on September 1 and joined Hafnia's board of directors following approval at an extraordinary general meeting. Executive Vice President and Head of Asset Management Søren Steenberg Jensen will succeed Skov, who had held the CEO position for sixteen years, as chief executive officer.