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HAFN on NYSE

Hafnia Ltd

Transportation services company in Bermuda1

In its 2026 annual report (Form 20-F) the company says: “We are a holding company, and all of our operations are performed through our subsidiaries. We also have offices in Copenhagen (Denmark), Houston (United States), Mumbai (India), Dubai (United Arab Emirates) and Monaco.”3 Its shares trade on NYSE under the symbol HAFN.1

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Last updated Oct 21, 2026.

Overview

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  • TickerHAFN on NYSE1
  • IndustryTransportation Services1
  • HeadquartersD01
  • Incorporated inBermuda2
  • Business addressMapletree Business City #18-01, 10 Pasir Panjang Road, 117438, Singapore2
  • Filer categoryLarge accelerated filer2

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Pacific Limited from our incorporation on April 29, 2014 to February 13, 2018. We are a holding company, and all of our operations are performed through our subsidiaries.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

48.5%Gross margin4
28.1%Operating margin4
27.0%Net margin4
7.4%Revenue growth, 20244
34.2%Return on equity4
0.35×Debt to equity4
$980.8MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Revenue from voyage charter brought in 55% of the revenue Hafnia Ltd broke down this way in fiscal 2025.

  1. Revenue from voyage charter$1.3B555%down 31% from 2024
  2. External vessels in disponent owner pools$860.1M538%down 8% from 2024
  3. Lease component$113.8M55%up 23% from 2024
  4. Non lease component$55.3M52%up 37% from 2024
Products and services by year
Products and services202320242025
Revenue from voyage charter$1.8B$1.8B$1.3B
External vessels in disponent owner pools$756.2M$933.1M$860.1M
Lease component$94.1M$92.2M$113.8M
Non lease component$40.4M$40.3M$55.3M

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Other costs71¢$2.0B
  • Interest2¢$52.4M
  • Income tax0¢$4.4M
  • Profit27¢$774.0M

Out of $2.9B in revenue.4

Where each dollar of operating cash went, fiscal 2024

  • Capital spending5¢$49.6M
  • Dividends paid68¢$699.9M
  • Kept or used elsewhere27¢$280.9M

Out of $1.0B of cash from operations.4

Financial statements

Revenue4$2.9B in 2024+49% since 2022
0$1.0B$2.0B$3.0B2022: $1.9B$1.9B20222023: $2.7B$2.7B2023+39%2024: $2.9B$2.9B2024+7%
Gross profit4$1.4B in 2024+3% since 2022
0$500.0M$1.0B$1.5B2022: $1.3B$1.3B20222023: $1.4B$1.4B2023+1%2024: $1.4B$1.4B2024+2%
Operating income4$805.7M in 2024−2% since 2022
0$250.0M$500.0M$750.0M$1.0B2022: $823.2M$823.2M20222023: $857.9M$857.9M2023+4%2024: $805.7M$805.7M2024−6%
Net income4$774.0M in 2024+3% since 2022
0$200.0M$400.0M$600.0M$800.0M2022: $751.6M$751.6M20222023: $793.3M$793.3M2023+6%2024: $774.0M$774.0M2024−2%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenue$2.3B$2.9B$2.7B
Gross profit$955.9M$1.4B$1.4B
Other operating income$31.1M$35.2M$45.0M
Vessel operating expenses-$282.1M-$278.0M-$268.9M
Technical management expenses-$27.1M-$28.2M-$25.7M
Charter hire expenses-$33.4M-$48.5M-$34.6M
Other expenses-$84.9M-$79.4M-$69.6M
Total other gains$559.5M$992.3M$1.0B
Gain on disposal of assets$12.2M$28.5M$56.1M
Depreciation charge of property, plant and equipment-$201.7M-$214.3M-$209.7M
Amortisation charge of intangible assets-$427.0K-$803.0K-$1.3M
Operating profit$369.6M$805.7M$857.9M
Interest income$13.5M$16.3M$17.6M
Interest expense-$49.8M-$52.4M-$77.4M
Capitalised financing fees written off-$2.7M-$2.1M-$5.9M
Other finance expense-$5.6M-$9.7M-$11.8M
Finance expense - net-$44.6M-$47.8M-$77.5M
Share of profit of equity-accounted investees, net of tax$17.2M$20.5M$19.1M
Profit before income tax$342.2M$778.5M$799.5M
Income tax expense-$2.5M-$4.4M-$6.3M
Profit for the financial year$339.7M$774.0M$793.3M
Foreign operations - foreign currency translation differences$325.0K-$135.0K-$92.0K
Cash flow hedges - effective portion of changes in fair value-$2.8M$14.5M$13.4M
Cash flow hedges - reclassified to profit or loss-$10.1M-$33.1M-$42.5M
Other comprehensive income that will be reclassified to profit or loss, net of tax-$12.6M-$18.7M-$29.2M
Equity investments at FVOCI - net change in fair value-$37.0M$1.2M$9.7M
Total other comprehensive loss, net of tax-$49.5M-$17.6M-$19.5M
Total comprehensive income for the year$290.2M$756.5M$773.8M
Basic earnings per share (in dollars per share)$0.68$1.52$1.57
Diluted earnings per share (in dollars per share)$0.67$1.50$1.56

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Corporate structure

Hafnia Ltd sits at the top of its group. 2 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Hafnia Ltd

  • BW Group Ltd Filed SCHEDULE 13G/A on Hafnia Ltd, latest May 28, 2025 (2 filings since Nov 13, 2024)
  • Folketrygdfondet Filed SC 13G on Hafnia Ltd, latest Nov 13, 2024
  • Hafnia Ltd D0
    • TORM Stake · Hellerup, Denmark

Built from major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What Hafnia Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$18.7M4 Dec 31, 2024$34.6M4 Dec 31, 2023−46.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$283.6M4 Dec 31, 2024$222.5M4 Dec 31, 2023+27.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$510.0K4 Dec 31, 2024$1.3M4 Dec 31, 2023−60.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$94.2M4 Dec 31, 2024$107.7M4 Dec 31, 2023−12.6%

Leadership

Who has led Hafnia Ltd, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mikael Opstun Skov2026–now

Chief financial officer

  1. Echtelt Petrus Wouter Van2026–now
Board members and other officers (8)

Timeline

  1. Mar 18, 2026New chief executive Mikael Opstun Skov becomes CEO6

Calendar

Coming up

  1. Dec 7, 2026Reports results for the quarter ending Sep/202616

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

137 filings to the SEC since October 2021: 2 annual reports, 12 insider forms, 3 large holders, 120 other. The latest 20:

  1. Oct 13, 20266-K EDGAR
  2. Oct 5, 20266-K EDGAR
  3. Sep 25, 20266-K EDGAR
  4. Sep 25, 2026424B5 EDGAR
  5. Sep 24, 20266-K EDGAR
  6. Sep 24, 20266-K EDGAR
  7. Sep 23, 2026FWP EDGAR
  8. Sep 23, 2026FWP EDGAR
  9. Sep 23, 20266-K EDGAR
  10. Sep 23, 2026424B5 EDGAR
  11. Sep 23, 20266-K EDGAR
  12. Sep 16, 20266-K EDGAR
  13. Sep 8, 20266-K EDGAR
  14. Sep 3, 20266-K EDGAR
  15. Sep 1, 20266-K EDGAR
  16. Aug 28, 20266-K EDGAR
  17. Aug 21, 20266-K EDGAR
  18. Jun 30, 20266-K EDGAR
  19. Jun 3, 20266-K EDGAR
  20. May 27, 20266-K EDGAR

The 137 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 0 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 13, 2026Skov Mikael OpstunChief Executive OfficerSale500,000$8.11$4.1MForm 4
Apr 10, 2026Skov Mikael OpstunChief Executive OfficerSale500,000$8.12$4.1MForm 4
Apr 7, 2026Van Echtelt Petrus WouterChief Financial OfficerSale90,000$8.22$739.8KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • BW Group LtdSCHEDULE 13G/A, 2 filings Nov 13, 2024 to May 28, 202517
  • FolketrygdfondetSC 13G, 1 filing Nov 13, 202418

Stakes it holds

Hafnia Ltd has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

  • TORMSCHEDULE 13D/A Dec 22, 2025 to Sep 25, 202619

SEC filer profile

How Hafnia Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHafnia Ltd1
  • CIK0001815779
  • Filer statusLarge accelerated filer not an emerging growth company; not a shell company3
  • Incorporated inSingapore3
  • Fiscal year endsDecember 311
  • Industry code (SIC)4700 Transportation Services1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business addressMapletree Business City #18-01, 10 Pasir Panjang Road, 117438, Singapore, Singapore1
  • Phone0065 64 34 37 701
  • Shares outstanding497,989,642 shares as of Dec 31, 20253
  • AuditorKPMG LLP, Singapore PCAOB ID 1051; it also attests to the company’s internal control over financial reporting3
  • On EDGAR sinceJul 6, 20201
  • Filings141 in all: 6-K (100), 3 (10), 20-F (2), 4 (2), 424B5 (2), DRS (2), DRS/A (2), DRSLTR (2)1
    All 22 form types

    FWP (2), SC 13G (2), SCHEDULE 13D/A (2), SEC STAFF LETTER (2), UPLOAD (2), 20FR12B (1), 20FR12B/A (1), 425 (1), CERT (1), CORRESP (1), F-3ASR (1), SCHEDULE 13D (1), SCHEDULE 13G/A (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (20-F) Apr 17, 2026

Securities registered for trading

ClassSymbolExchange
Ordinary sharesHAFNNew York Stock Exchange

From the cover page of the 20-F filed Apr 17, 2026 (Section 12(b) of the Exchange Act).3

Sources

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