Hafnia Ltd. (HAFNIO.OL), an international tanker company, reported a reduction in earnings for the third quarter, compared to last year, reflecting weaker revenues.
For the third quarter, the company's profit was $91.50 million, lower than $215.64 million the prior year. On a per share basis, earnings were $0.18 compared to $0.42 a year ago.
The company's Time Charter Equivalent or TCE earnings were $247 million, compared to $361.6 million, resulting in an average TCE of $26.04 million per day.
For the three-month period, adjusted EBITDA was $150.48 million, down from $257.01 million in the prior year.
Further, the Board declared a quarterly dividend of $0.15 per share for the third quarter, payable on November 30 to shareholders on record December 9.
Hafnia Vessels and TC Vessels' revenue was $366.51 million lower than $497.89 million the earlier year.
Looking ahead to the remainder of 2025 and into 2026, the company said several key factors including trade policy shifts, evolving oil trade routes, sanctions, and ongoing geopolitical tensions will continue to shape market conditions and influence overall dynamics.
On the Oslo Stock Exchange, shares were trading 2.04% lower at 59.64 kroner.
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