Hafnia (HAFN) Q1 Profit Surges on Elevated Tanker Rates Amid Supply Disruptions

Hafnia Limited (NYSE: HAFN) reported a sharp increase in first-quarter net income, beating analyst estimates, as demand for refined product tankers surged amid global oil market disruptions. The company said Wednesday that earnings were fueled by higher time charter equivalent rates resulting from rerouted vessels avoiding the Red Sea, which tightened global tanker supply. The Singapore-based operator of product tankers said revenue rose significantly from the prior-year period, driven by an average daily TCE rate that exceeded $30,000, up from roughly $20,000 a year ago. Geopolitical tensions and OPEC+ output shifts forced longer voyage distances, absorbing excess fleet capacity. Hafnia stated the favorable rate environment persisted into the second quarter, supported by steady refinery throughput and inventory rebuilding.