Hafnia Tankers in merger talks with BW Tankers

n its half year results statement Hafnia said: “Hafnia is exploring the possibility of consolidation with BW Tankers, a company owned by BW Group, one of our shareholders.”

Last month BW Group a 36.3% stake in Hafnia Tankers taking its shareholding in the Danish-based shipowner to 43.5%. At the time Carsten Mortensen, ceo of BW, hinted at a merger of the operations of Hafnia and BW Tankers saying: “We see a good cultural fit between the organisations, as well as the opportunity to further integrate the fleets and provide even better service to customers in the product tanker markets.”

Read more: BW acquires 36.3% stake in Hafnia Tankers taking shareholding to 43.5%

BW Tankers owns and operates a fleet of 55 product tankers comprising LR2, LR1 and MR vessels, while Hafnia operates a fleet of 47 product tankers comprising LR1, MR and SR vessels and has four newbuilding on order.

The Hafnia Tanker talks continue BW's consolidation ambitions in a number of sectors. In June BW moved to takeover Dorian LPG in an all share offer, which was rejected by the company's board. In 2017 DHT Holdings tookover BW's very large crude carrier (VLCC) fleet with BW taking a 33% stake in the New York listed tanker owner.