Hafnia Ltd. (NYSE: HAFN, HAFNI.OL) reported a significant rise in first-quarter net income compared with the prior year, despite major geopolitical disruptions across global oil markets.
The company cited an estimated loss of 12.8 million barrels per day of oil supply as a key feature of the turbulent operating environment during the quarter.
Net income for the first quarter climbed to $291.32 million, up sharply from $57.55 million recorded in the same period the previous year.
Earnings per share rose to $0.36, compared with $0.13 in the prior-year period.
Adjusted EBITDA increased to $198.62 million from $125.09 million in the prior year.
Operating profit grew to $182.50 million, up from $75.46 million recorded in the same quarter a year earlier.
Revenue for the quarter reached $282.50 million, compared with $218.75 million in the previous year.
The board set the first-quarter 2026 payout ratio at 80%, resulting in a dividend of $143.8 million, or $0.2877 per share.
Looking ahead, the company noted that uncertainty remains high due to disruptions in the Strait of Hormuz and slower recovery in global oil production and refinery operations.
Hafnia added that prolonged rerouting of trade flows is expected to support tanker demand going forward.
On Tuesday, Hafnia closed trading 1.52% lower at NOK 77.90 on the Oslo Stock Exchange.
