Hafnia Limited reported a fall in third-quarter 2025 net profit to USD 91.5 million from USD 215.6 million a year earlier as time charter equivalent (TCE) earnings and adjusted EBITDA declined, the product tanker owner said on Monday.
TCE earnings dropped to USD 247.0 million from USD 361.6 million in the third quarter of 2024, with average TCE at USD 26,040 per day, while adjusted EBITDA fell to USD 150.5 million from USD 257.0 million.
For the nine months to Sept. 30, net profit was USD 230.0 million, or USD 0.46 per share, compared with USD 694.4 million, or USD 1.36 per share, a year earlier.
Hafnia declared a quarterly dividend of USD 0.1470 per share, representing a payout ratio of 80%, and said 71% of its fourth-quarter earning days were covered at an average of USD 25,610 per day as of Nov. 14.
Chief Executive Mikael Skov said the product tanker market remained “counter-cyclically firm” in the third quarter, supported by growth in clean petroleum products exports, and added that lower off-hire days and a constructive supply outlook pointed to a favourable earnings environment into early 2026.
