# HAFNIA

Summary updated: 2026-10-02T16:39:48.102724Z
Canonical: https://finbar.com/research/companies/hafnia

## Overview

Hafnia is a global tanker-shipping company that transports oil and oil products. Its business includes vessel operations and commercial and technical management, with a fleet spanning Handy, MR, LR1, LR2 and specialised tanker classes. It operates internationally, with pool-partner support across Asia, Europe, the Middle East and the Americas. [1](https://app.finbar.com/go?id=P149256092)[2](https://hafnia.com/fleet/)[3](https://hafnia.com/pools/)

For the year ended December 31, 2025, Hafnia reported revenue of approximately US$2.28 billion. Its 2025 annual report listed 187 vessels, while a company announcement in April 2026 described a workforce of more than 4,000 people onshore and at sea and a fleet of about 200 vessels. [4](https://app.finbar.com/go?id=T17135871)[5](https://app.finbar.com/go?id=T17135470)[6](https://investor.hafnia.com/ir-news/news-details/2026/HAFNIA-LIMITED-Annual-Report-2025-2026-QJC4DAvXeB/default.aspx) Hafnia describes its purpose as “People First” and its vision as “Best On Water”; its history traces to 2010, with a 2019 merger of BW Tankers and Hafnia Tankers. [7](https://hafnia.com/about-hafnia/)
[1](https://app.finbar.com/go?id=P149256092)[4](https://app.finbar.com/go?id=T17135871)[5](https://app.finbar.com/go?id=T17135470)[2](https://hafnia.com/fleet/)[3](https://hafnia.com/pools/)[6](https://investor.hafnia.com/ir-news/news-details/2026/HAFNIA-LIMITED-Annual-Report-2025-2026-QJC4DAvXeB/default.aspx)[7](https://hafnia.com/about-hafnia/)

## Products & services

Hafnia’s core offering is tanker transportation across Specialised, Handy, MR, LR1 and LR2 vessel classes. At year-end 2025, its fleet table listed 124 Hafnia fleet vessels and 63 vessels in commercially managed pools, for 187 vessels combined: 10 Specialised, 32 Handy, 89 MR, 42 LR1 and 14 LR2. The vessel listings provide specifications including deadweight tonnage (DWT), build year, flag, ownership and employment type; examples include LR2 vessels of approximately 109,990–109,999 DWT, LR1 vessels of 74,189–81,305 DWT, and MR vessels of approximately 49,850–49,999 DWT. [5](https://app.finbar.com/go?id=T17135470)[8](https://app.finbar.com/go?id=T17135477)[9](https://app.finbar.com/go?id=T17135481)[10](https://app.finbar.com/go?id=T17135489)

Hafnia provides transportation under spot voyage and time charters and commercially manages tanker pools. Its nine pool categories are Specialised Small, Specialised City, Handy, Chemical-Handy, MR, Chemical-MR, LR1, Panamax and LR2; dedicated chemical-capable pools serve Handy and MR vessels. Under spot voyage charters, vessels are employed voyage by voyage, with voyage costs such as bunkers and port costs allocated according to contract terms. [11](https://app.finbar.com/go?id=P149256563)[12](https://app.finbar.com/go?id=P149257073)[13](https://app.finbar.com/go?id=T17135635)

For 2025, reported revenue by operating segment was $110.4 million for LR2, $374.5 million for LR1, $675.7 million for MR and $261.2 million for Handy. These represented approximately 7.8%, 26.3%, 47.5% and 18.4%, respectively, of the four segments’ combined revenue of $1,421.8 million; the filing also reports time-charter-equivalent income by segment. [14](https://app.finbar.com/go?id=T17135637)
[5](https://app.finbar.com/go?id=T17135470)[8](https://app.finbar.com/go?id=T17135477)[9](https://app.finbar.com/go?id=T17135481)[10](https://app.finbar.com/go?id=T17135489)[11](https://app.finbar.com/go?id=P149256563)[12](https://app.finbar.com/go?id=P149257073)[13](https://app.finbar.com/go?id=T17135635)[14](https://app.finbar.com/go?id=T17135637)

## Geographic presence

Hafnia’s principal executive office is in Singapore, and its 2025 annual-report announcement lists offices in Singapore, Copenhagen, Houston and Dubai. The company reports more than 4,000 people onshore and at sea, without a geographic breakdown of employees. [15](https://app.finbar.com/go?id=P149255692)[6](https://investor.hafnia.com/ir-news/news-details/2026/HAFNIA-LIMITED-Annual-Report-2025-2026-QJC4DAvXeB/default.aspx)

Hafnia’s vessel classes serve global tanker trade lanes, with typical routes connecting the Middle East Gulf, West Africa, the Americas, Europe and the Black Sea with Asia and the Far East; these are described as typical vessel-class routes, not as a regional revenue split. [16](https://app.finbar.com/go?id=T17135581) The company also identifies Asia Pacific as a significant area for expected Combined Fleet port calls and China and South Korea as newbuild shipyard locations. [17](https://app.finbar.com/go?id=P149255968)
[15](https://app.finbar.com/go?id=P149255692)[16](https://app.finbar.com/go?id=T17135581)[17](https://app.finbar.com/go?id=P149255968)[6](https://investor.hafnia.com/ir-news/news-details/2026/HAFNIA-LIMITED-Annual-Report-2025-2026-QJC4DAvXeB/default.aspx)

## Business segments

Hafnia reports four financial operating segments, organized by product-tanker vessel size: **LR2** (85,000–124,999 DWT), **LR1** (55,000–84,999 DWT), **MR** (40,000–54,999 DWT) and **Handy** (25,000–39,999 DWT). LR2 focuses on clean petroleum products; LR1 carries clean and dirty petroleum products; and MR and Handy carry clean and dirty oil, vegetable oil and easy chemicals, including IMO II cargoes. [18](https://app.finbar.com/go?id=P149259003)[19](https://app.finbar.com/go?id=P149259004)[20](https://app.finbar.com/go?id=P149259005)[21](https://app.finbar.com/go?id=P149259006)[22](https://app.finbar.com/go?id=P149259007)[23](https://app.finbar.com/go?id=P149259008)[24](https://app.finbar.com/go?id=P149259009)[25](https://app.finbar.com/go?id=P149259010)[26](https://app.finbar.com/go?id=P149259011)[27](https://app.finbar.com/go?id=P149259012)

Based on FY2025 reported revenue, the approximate contribution of each segment was **LR2 7.8%**, **LR1 26.3%**, **MR 47.5%** and **Handy 18.4%**. These percentages are calculated from the revenue figures in Hafnia’s segment table; they describe revenue mix, not operating-profit contribution. [14](https://app.finbar.com/go?id=T17135637)

Hafnia also describes a separate commercial pool structure: Small and City (together, the Specialised Pool), Handy, Chemical-Handy, MR, Chemical-MR, LR1, Panamax and LR2. These pool categories are distinct from the four financial reporting segments; the report notes, for example, that Handy includes former Chemical-Handy and MR includes former Chemical-MR. [11](https://app.finbar.com/go?id=P149256563)[28](https://app.finbar.com/go?id=T17135625)[29](https://app.finbar.com/go?id=T17135626)
[18](https://app.finbar.com/go?id=P149259003)[19](https://app.finbar.com/go?id=P149259004)[20](https://app.finbar.com/go?id=P149259005)[21](https://app.finbar.com/go?id=P149259006)[22](https://app.finbar.com/go?id=P149259007)[23](https://app.finbar.com/go?id=P149259008)[24](https://app.finbar.com/go?id=P149259009)[25](https://app.finbar.com/go?id=P149259010)[26](https://app.finbar.com/go?id=P149259011)[27](https://app.finbar.com/go?id=P149259012)[14](https://app.finbar.com/go?id=T17135637)[14](https://app.finbar.com/go?id=T17135637)[14](https://app.finbar.com/go?id=T17135637)[14](https://app.finbar.com/go?id=T17135637)[11](https://app.finbar.com/go?id=P149256563)[28](https://app.finbar.com/go?id=T17135625)[29](https://app.finbar.com/go?id=T17135626)

## Company history

Hafnia’s roots date to 2010, when Tankers Inc. and Hafnia Management were established and its MR pool was formed; an LR pool with Straits Tankers followed in 2011. A three-way merger in 2012–13 involving Tankers Inc., Blackstone/Tufton and J. Lauritzen established Hafnia Tankers in Copenhagen. [7](https://hafnia.com/about-hafnia/)

The company expanded its pooling activities with a Handy Pool in 2015 and a joint venture with Vista Shipping and CSSC in 2017–18. In January 2019, Hafnia Tankers merged with BW Tankers; BW Tankers was the surviving entity and changed its name to Hafnia Limited. Hafnia’s shares began trading on Oslo Axess in November 2019, and the listing transferred to the Oslo Stock Exchange in April 2020. [7](https://hafnia.com/about-hafnia/) [30](https://hafnia.com/wp-content/uploads/2019/01/20190117-NOTC-notice-Completion-of-meger-BW-Tankers.pdf) [31](https://hafnia.com/wp-content/uploads/2020/02/Hafnia_annual_report_2019_web.pdf) [32](https://hafnia.com/wp-content/uploads/2020/04/Hafnia-Announcement-Transfer-of-listing.pdf)

In 2022, Hafnia took over 32 product and chemical tankers from Chemical Tankers Inc. and completed the handover of 12 LR1 vessels acquired from Scorpio. In 2024, it completed delivery of the fourth vessel in its LNG dual-fuel LR2 newbuild series and began trading on the New York Stock Exchange, adding a U.S. listing to its Oslo listing. [33](https://hafnia.com/news/hafnia-dubai-update/) [34](https://hafnia.com/news/hafnia-completes-takeover-of-12-lr1-vessels-from-scorpio/) [35](https://hafnia.com/news/hafnia-celebrates-successful-delivery-of-fourth-dual-fuel-lng-ship-the-hafnia-lillesand/) [36](https://investor.hafnia.com/ir-news/news-details/2024/Hafnia-Limited---Commencement-of-Trading-and-Admission-to-Trading-on-NYSE-2024-KD4CwR8JZj/default.aspx)

## Sources

1. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149256092)
2. [hafnia.com](https://hafnia.com/fleet/)
3. [hafnia.com](https://hafnia.com/pools/)
4. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135871)
5. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135470)
6. [investor.hafnia.com](https://investor.hafnia.com/ir-news/news-details/2026/HAFNIA-LIMITED-Annual-Report-2025-2026-QJC4DAvXeB/default.aspx)
7. [hafnia.com](https://hafnia.com/about-hafnia/)
8. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135477)
9. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135481)
10. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135489)
11. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149256563)
12. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149257073)
13. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135635)
14. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135637)
15. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149255692)
16. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135581)
17. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149255968)
18. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259003)
19. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259004)
20. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259005)
21. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259006)
22. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259007)
23. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259008)
24. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259009)
25. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259010)
26. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259011)
27. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=P149259012)
28. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135625)
29. [HAFNIA — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17135626)
30. [hafnia.com](https://hafnia.com/wp-content/uploads/2019/01/20190117-NOTC-notice-Completion-of-meger-BW-Tankers.pdf)
31. [hafnia.com](https://hafnia.com/wp-content/uploads/2020/02/Hafnia_annual_report_2019_web.pdf)
32. [hafnia.com](https://hafnia.com/wp-content/uploads/2020/04/Hafnia-Announcement-Transfer-of-listing.pdf)
33. [hafnia.com](https://hafnia.com/news/hafnia-dubai-update/)
34. [hafnia.com](https://hafnia.com/news/hafnia-completes-takeover-of-12-lr1-vessels-from-scorpio/)
35. [hafnia.com](https://hafnia.com/news/hafnia-celebrates-successful-delivery-of-fourth-dual-fuel-lng-ship-the-hafnia-lillesand/)
36. [investor.hafnia.com](https://investor.hafnia.com/ir-news/news-details/2024/Hafnia-Limited---Commencement-of-Trading-and-Admission-to-Trading-on-NYSE-2024-KD4CwR8JZj/default.aspx)

AI-generated summary; may contain errors. Not investment advice. Sign up to Finbar to view original document sources and access worldwide fundamental financial data and intelligence.