Hafnia Limited (NYSE:HAFN), a product‑tanker operator, posted second‑quarter 2026 results that topped analyst expectations, driven by elevated freight rates.
The company posted earnings per share of $0.56 against the consensus estimate of $0.55. Revenue reached $505.66 million, well above the $395.93 million forecast and up 46% year‑over‑year from $346.56 million in Q2 2025. Net profit climbed to $277.8 million from $75.3 million a year earlier, while adjusted EBITDA rose to $287.3 million from $134.2 million. Net asset value per share increased to $8.89 at quarter‑end, and the net loan‑to‑value ratio fell to 13.0% from 20.2%.
The earnings surge was underpinned by a time‑charter‑equivalent (TCE) rate that averaged $44,093 per day during the quarter, compared with $24,452 per day in Q2 2025, reflecting ongoing disruptions to Middle‑East shipping routes. Results also included $39.3 million in gains from vessel sales and $8.8 million from the company’s fee‑based business.
Hafnia declared a quarterly dividend of $0.5003 per share, representing a 90% payout ratio and implying an annualized dividend yield of roughly 21% based on first‑half 2026 payouts. The stock edged up about 0.59% in pre‑market trading following the announcement.
Looking ahead, the firm said that 80% of earning days for the third quarter were covered at a TCE rate of $30,716 per day, and it expects approximately 225 off‑hire days due to scheduled dry‑dockings.
CEO Mikael Skov said the results marked the strongest quarterly performance since the third quarter of 2022.
