Hafnia Limited reported second-quarter net profit of $277.8 million, its strongest quarterly result since the third quarter of 2022, driven by elevated freight rates amid Persian Gulf conflict and Red Sea disruption. The company declared a dividend of $250 million, or $0.5003 per share, at the maximum 90% payout ratio, bringing first-half dividends to $0.788 per share, an annualized yield of roughly 21%. Net asset value rose to $4.4 billion, or $8.89 per share, while net loan-to-value fell to 13% from 20.2%. However, management cautioned that forward bookings indicate softening: Q3 revenue coverage is 80% at $30,716 per day, and second-half coverage is 53% at $28,917 per day, well below the $50,000 spot rates seen in Q2. The company also confirmed a leadership change effective shortly after the earnings call.
Hafnia LimitedQ2 profit hit multi-year high and dividend payout surged, boosting shareholder returns.
