Shipping & Ports
Hafnia Exits Andromeda Tanker Joint Venture With $13.3m Profit
Product tanker operator Hafnia has sold its 50 percent stake in two MR tankers held via a joint venture with Andromeda Shipping.
Product tanker specialist Hafnia has concluded the sale of its interest in a joint venture with Monaco-based Andromeda Shipping. The BW Group-controlled owner booked a $13.3 million profit from the divestment.
The transaction involved Hafnia parting with its 50 percent stake in two medium-range tankers held through H&A Shipping. The deal was completed during the third quarter.
The divestment comes as part of the company's broader efforts to prune older tonnage from its operational fleet.
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Hafnia cashes out of Andromeda joint ventureGlobal Freight Briefing
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