Hafnia reported a substantial increase in financial performance for the second quarter of 2026, with net profit reaching $277.8 million. The results were primarily driven by sustained market fragmentation and geopolitical tensions in the Middle East, which increased voyage distances and supported tanker demand. Operating revenue of $505.7 million significantly exceeded analyst estimates. Consequently, the company reached its highest dividend payout threshold, authorizing a 90% payout ratio for the quarter.
Key Highlights
- Net profit for the second quarter was $277.8 million ($0.56 per share), beating the consensus estimate of $0.51.
- Operating revenue for owned and time-chartered vessels reached $505.7 million, a significant beat compared to the $393.1 million expectation.
- Average fleet TCE for the quarter was $44,093 per day, falling slightly short of the $46,600 guidance provided in the earnings preview.
- Authorized a total dividend distribution of $250.0 million ($0.5003 per share), reflecting a 90% payout ratio as net LTV dropped to 13.0%.
- Fleet renewal continued with the sale of six vessels in Q2, generating $39.3 million in asset disposal gains.