CEO statement In the midst of a highly volatile market and ever-changing market dynamics, I am proud to announce thatHafnia has delivered yet another strong result in Q4. In Q4, we achieved a net profit ofUSD 263.8 million , bringing our full-year net profit toUSD 751.6 million . This isHafnia's best full-year result in its company's history. Following our upgraded dividend policy, I am pleased to announce a 60% dividend payout ratio ofUSD 0.3157 per share orUSD 158.3 million this quarter. This brings our full-year 2022 dividend payout toUSD 402.0 million , representing a payout ratio of 53.5%. With these record earnings, 2022 demonstrated the strength and robustness of our business model. On-going management focus on accretive transactions has delivered tangible results, driving an even firmer foothold in the product and chemical market. Earlier in 2022, the CTI and Scorpio transactions saw us adding 36 modern tankers to our fleet, allowing us to take full advantage of the market upturn. These acquisitions continue to reap their benefits, significantly contributing to these strong results and increased earnings. The 2022 net profit from the acquired fleet has risen aboveUSD 190 million , including margins gained from the subsequent sale of the stainless-steel vessels. Based on quarter-end average broker valuation, the acquired fleet has increased a further 31%, orUSD 330.6 million . With added capabilities of product tankers, our chemical fleet accommodates varying cargoes, able to transport both clean petroleum products and chemicals. This unique operational synergy reduces ballast time by switching between the cargoes. With ESG embedded deeply in our corporate strategy, this enhanced fleet furthers our transition towards greener shipping and our decarbonization efforts. In 2022, 17% of the cargo transported by the chemical fleet were renewable bioproducts. Market fundamentals remain strong, laying the foundation for a strong 2023. With a low order book of newbuilds and low product inventories in the western hemisphere, I am confident that utilization of the product fleet will remain strong with increased trade volumes. With sanctions of Russian products now fully in effect, we also expect further alteration in trade routes, hence more ton-miles. With 71% of the fleet covered for Q1 2023 atUSD 36,385 per day and 27% of the fleet covered atUSD 31,918 per day for 2023 as at20 February 2023 ,Hafnia is well positioned to take advantage of the elevated spot market. I cannot reiterate enough how these record-breaking results would not have been possible without the entireHafnia team onshore and at sea as well as our trusted partners. I would like to take this opportunity to thank the team for making these results possible through their dedication and hard work. Looking ahead, building on this strong momentum remains our motto, alongside generating even greater results for added shareholder value and returns. -Mikael Skov , CEOHafnia
Click here for more information
© Oslo Bors ASA, source