Hafnia Ltd. (HAFN), an operator of oil product and chemical tankers, on Friday announced that it has signed a contract with Hyundai Heavy Industries for the construction of eight Medium-Range newbuild product tankers for a total purchase price of approximately $405 million.
The vessels are expected to be delivered between the third quarter of 2028 and the second quarter of 2029.
The company said the order secures early delivery positions at the shipyard and is based on fuel-efficient vessel designs, supporting renewal of its MR segment.
The company's CEO Mikael Skov added that the new vessels are expected to enhance earnings quality, improve fleet performance, and support its decarbonization efforts while strengthening long-term competitiveness.
Hyundai Heavy Industries is currently trading 9% at KRW478,500 on the Korean Stock Exchange.
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