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Wednesday, December 19, 2018

Hafnia Tankers Inks Fresh Sale and Leaseback Deal

Maritime Activity Reports, Inc.

February 16, 2018

Photo: Hafnia Tankers

Photo: Hafnia Tankers

 Denmark-based shipping company Hafnia Tankers has successfully completed a sale and leaseback in the Japanese market through the sale and leaseback of its 2010 built LR1 tanker, MT Hafnia Australia. 

 The Vessel has been sold to a Japanese private ship owning company (the Lessor) with a 12-year bareboat charter back with annual purchase options from year four onwards.
The Transaction entailed a sale of the 74,539 dwt ship at market value and a fully levered lease arrangement which gives rise to a positive liquidity effect of approx. $8.7 million and further adds to the already strong cash position. 
The profile of the lease arrangement allows the Company to abide by its strict policy of maintaining a low cash-breakeven. The Transaction has been consummated and the Vessel has been delivered to the Lessor.
Fearnley Securities AS acted as sole financial advisor to the Company for the Transaction.
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