Hafnia inks $414 million sale and leaseback financing for Scorpio LR1 product tankers

­Hafnia has signed a $414 million sale and leaseback facility with ICBC Financial Leasing Co., Ltd. (ICBCL) to finance the acquisition of 12 LR1 product tankers from Scorpio Tankers.

As previously reported, Singapore-based Hafnia Tankers confirmed it was in advanced negotiations to acquire the vessels, which are all reportedly scrubber-equipped, in January.

The 12 LR1 vessels will be renamed Hafnia Excel, Hafnia Excelsior, Hafnia Expedite, Hafnia Exceed, Hafnia Experience, Hafnia Executive, Hafnia Excellence, Hafnia Express, Hafnia Pride, Hafnia Providence, Hafnia Precision and Hafnia Prestige upon delivery and to be commercially managed by the Hafnia LR Pool.

The first vessel is expected to be delivered in early March. Hafnia will bareboat charter-in the vessels for a period of 10 years and will have monthly purchase options to maximise trading flexibility. There is a purchase obligation upon expiry of each agreement.

Rhys Berry