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.
Source attribution
This report was written by the Global Freight editorial desk based on material published by Splash 247. It is an original summary and analysis, not a reproduction of the source text. Figures and claims are limited to those present in the source material.
Hafnia cashes out of Andromeda joint ventureGlobal Freight Briefing
The commodity and freight brief, twice weekly
Concise coverage of fuel oil, energy trading and shipping markets for professional readers. No promotional content.
Related coverage
Related blogs
Further reading across commodity trading, energy and oil markets, fuel oil and shipping logistics.
- Shipping & Ports
Owners Expand Vinga Tanker Series with Four-Ship Order at China Merchants
A consortium of European and Canadian shipowners has placed an order for four product tankers in China, expanding the Vinga vessel series to 26 ships.
- Shipping & Ports
Torm Warns Prolonged Iran Conflict Threatens Sustained Hormuz Risks and Costs
Danish tanker operator Torm has cautioned that extended conflict in Iran could prolong shipping risks and elevated freight expenses in the Strait of Hormuz.
- Market Intelligence
Clean Shipping Coalition Urges IMO Members to Uphold Net-Zero Framework
Environmental organisations have called on International Maritime Organization member states to maintain backing for the Net-Zero Framework ahead of key climate talks.
- Market Intelligence
Black Sea Shipping Disruptions Drive Up Global Wheat Prices
Wheat values have climbed as maritime conflict in the Black Sea causes grain export volumes from both Russia and Ukraine to decline sharply.
- Energy Trading
Alkagesta adds EU ETS allowances to its carbon trading offering
The Malta-based commodity trading group has extended its carbon markets desk to cover EU Emissions Trading System allowances alongside CORSIA-eligible SAF and biofuels.
- Commodity Trading
Alkagesta joins the Platts EMEA naphtha physical Market on Close process
Approval to participate in the S&P Global Commodity Insights benchmark process follows an editorial review of the trading house's European naphtha activity.