BRIEF-Hafnia Says Outlook Remains Positive For Rest Of 2024
May 15 (Reuters) - Hafnia Ltd:
* STRENGTH OF PRODUCT TANKER MARKET CONTINUED INTO 2024 FROM 2023 DUE TO VESSELS BEING REROUTED ON LONGER VOYAGES VIA CAPE OF GOOD HOPE
* THIS RESULTED IN HIGHER SPOT RATES ACROSS ALL SEGMENTS COMPARED TO PREVIOUS QUARTER
* DIVIDEND PAYOUT RATIO OF 80%, TRANSLATING TO A DIVIDEND OF USD 175.7 MILLION OR USD 0.3443 PER SHARE
* PRODUCT TANKER MARKET WAS SIGNIFICANTLY IMPACTED BY EVENTS IN RED SEA, CAUSING VESSELS TO TAKE LONGER ROUTES
* LOOKING AHEAD TO REST OF 2024, OUTLOOK REMAINS POSITIVE
* THIS IS MAINLY DUE TO REFINERY DISLOCATIONS AND RAMP-UPS EXPECTED IN MIDDLE EAST, ALONGSIDE MINIMAL GROWTH IN TANKER SUPPLY
* FIRM OIL DEMAND, PARTICULARLY FROM CHINA AND INDIA, ALSO CONTRIBUTES TO THIS POSITIVE OUTLOOK Source text for Eikon: Further company coverage: (Gdansk Newsroom)