Hafnia Limited (HAFN) Stock Price & How to Invest
Short answer
You can invest in Hafnia Limited (HAFN) by buying shares or fractional shares at any major US broker, through a shipping or energy-logistics ETF that holds it, or as one holding in a thematic basket. Hafnia is one of the world's largest owners and operators of product and chemical tankers, the ships that move refined fuels like gasoline, diesel, and jet fuel plus vegetable oils and chemicals across the globe. The investment picture is that of a deeply cyclical, high-payout shipping stock: earnings and the variable dividend swing with tanker freight rates, so total return depends heavily on where those rates go.
HAFN stock price
As of 2026-07-08, Hafnia Limited (HAFN) last closed at $7.28, up 42.2% over the past year. Over the past 52 weeks it has traded between $5.12 and $9.46.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Hafnia Limited's investor relations page. Walnut is informational, not investment advice.
What does Hafnia Limited (HAFN) do?
Hafnia Limited is a Bermuda-incorporated, Singapore-headquartered shipping company that owns and operates one of the largest fleets of product and chemical tankers in the world, with roughly 120 owned vessels and a broader commercially managed platform of around 200 ships. These tankers carry refined petroleum products (gasoline, diesel, jet fuel, naphtha) as well as vegetable oils and easy chemicals, across vessel classes such as LR2, LR1, MR, and Handy. Beyond owning ships, Hafnia runs an integrated shipping services business that includes technical management, commercial chartering, tanker pool management for third-party owners, and a large-scale bunker (marine fuel) procurement desk, which adds fee-based revenue on top of its own fleet earnings.
The investment case rests on tight product tanker supply, refinery dislocation that lengthens shipping routes, and a shareholder-return policy that pays out a high share of profit as a variable dividend. Hafnia listed on the NYSE in 2024 (it also trades in Oslo as HAFNI) and is majority-controlled by Norwegian investment group BW Group. In FY2025 the company earned about $339.7 million in net profit on owned-vessel revenue of roughly $1.42 billion, with total operating revenue including pool and time-charter income closer to $2.28 billion. Because freight rates are volatile, results can move sharply from year to year, and the dividend, tied to the company's net loan-to-value, moves with them.
What's driving Hafnia Limited (HAFN)?
1. Tight product tanker supply and demand.
Product tanker earnings depend heavily on the balance between the number of available ships and the volume of refined products that need moving. The global orderbook for new product tankers has been historically low relative to the aging fleet, which limits new supply. When refinery output shifts geographically (for example, new capacity in the Middle East and Asia serving Western demand), cargoes travel farther, tying up more ships and supporting freight rates.
2. High variable dividend payout.
Hafnia targets returning a large share of net profit to shareholders, paying out about 80% of net income when its net loan-to-value is below a set threshold. In FY2025 it distributed roughly $0.5457 per share, and it declared strong quarterly payouts into 2026. This makes the stock attractive to income-seeking investors, though the payout is explicitly variable and shrinks when freight rates and profits fall.
3. Integrated platform and fleet renewal.
In addition to its owned fleet, Hafnia earns fees from managing tanker pools for third-party owners, technical ship management, and bunker procurement, which adds a more stable revenue layer. The company has been selling older vessels at high secondhand prices (over $200 million of sales in early 2026) and reinvesting in fuel-efficient Eco newbuilds. It also holds a stake of roughly 14% in rival TORM, fueling speculation about further consolidation.
4. Balance sheet and asset values.
Hafnia reported net asset value of roughly $8.09 per share in mid-2026, supported by rising secondhand vessel values, with net loan-to-value in the mid-20% range. A relatively low-leverage balance sheet gives the company flexibility to sustain dividends, buy back shares, or reinvest through the cycle. Because ships are the core asset, movements in vessel values directly affect the company's net worth.
What are the risks to Hafnia Limited (HAFN)?
Hafnia's earnings are highly cyclical and depend on product tanker freight rates, which the company does not control and which can swing sharply with global oil demand, refinery patterns, and trade flows. FY2025 net profit fell about 56% from the prior year as rates normalized from unusually high 2022-2024 levels, illustrating how quickly results can drop. The dividend is variable and tied to loan-to-value, so it can be cut when rates weaken. Other risks include exposure to geopolitical events that reroute or disrupt trade (such as Red Sea and sanctions dynamics), the cost and timing of fleet renewal, decarbonization regulation that could raise operating costs, and BW Group's controlling ownership stake, which concentrates influence over corporate decisions.
How is Hafnia Limited (HAFN) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Hafnia Limited's investor relations page or your broker.
- Revenue (FY2025, owned vessels): ~$1.42 billion
- Total operating revenue (FY2025): ~$2.28 billion
- Net income (FY2025): ~$339.7 million
- Net income (Q1 2026): ~$179.7 million
- Market cap: ~$3.25 billion
- P/E (trailing): ~7x
- Dividend yield: ~8%
- NAV per share: ~$8.09
As of July 2026 HAFN traded near $6.60 per share for a market cap around $3.25 billion, with a low trailing P/E near 7 and a dividend yield around 8%, typical of a cyclical shipping stock priced on peak-ish earnings. FY2025 profit of about $339.7 million was down roughly 56% from 2024 as freight rates normalized, but Q1 2026 net profit jumped to about $179.7 million on a tight market. Reported NAV of roughly $8.09 per share sat above the share price, a common feature of asset-heavy shipping names.
Who competes with Hafnia Limited (HAFN)?
Pure-play product tanker operators
TORM (TRMD), Scorpio Tankers (STNG), and Ardmore Shipping (ASC) are Hafnia's closest peers, all focused on moving refined products. Hafnia, TORM, and Scorpio own the largest fleets in the segment (roughly 115, 95, and 99 owned vessels), and Hafnia holds about a 14% stake in TORM, fueling merger speculation.
Diversified and crude tanker owners
International Seaways (INSW) spans both crude and product tankers, while Frontline (FRO), DHT Holdings (DHT), and Nordic American Tankers (NAT) focus on crude carriers. Their fortunes move with related but distinct freight markets, so they compete for capital among shipping investors even where cargoes differ.
Chemical and specialized shipping
Because part of Hafnia's fleet carries chemicals and easy specialty cargoes, it also overlaps with chemical tanker operators such as Stolt-Nielsen and d'Amico International Shipping. These players compete on the higher-specification end of the product and chemical shipping market.
How to invest in Hafnia Limited (HAFN)
There are three common ways to get HAFN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so HAFN sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where HAFN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Hafnia Limited (HAFN)
Hafnia is a cyclical, high-dividend product tanker operator whose profits and payout rise and fall with freight rates, making it a shipping-rate play rather than a steady compounder.
More on Hafnia Limited (HAFN)
Whether HAFN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is HAFN a buy?, and where the stock could go from here in the HAFN stock forecast.
For income investors, whether HAFN pays a dividend and how the payout looks is covered in does HAFN pay a dividend?
Build a basket around HAFN with Walnut
Use Hafnia Limited as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Hafnia Limited do?
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Hafnia owns and operates one of the world's largest fleets of product and chemical tankers, ships that carry refined fuels like gasoline, diesel, and jet fuel plus vegetable oils and chemicals. It also manages tanker pools for other owners and runs ship-management and bunker-procurement services.
Is HAFN a US stock?
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Hafnia is incorporated in Bermuda and headquartered in Singapore, but its shares trade on the New York Stock Exchange under the ticker HAFN (listed in 2024). It also trades in Oslo under HAFNI. US investors can buy HAFN through any major broker.
Does Hafnia pay a dividend?
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Yes. Hafnia targets returning about 80% of net profit to shareholders when its net loan-to-value is below a set threshold, resulting in a yield near 8% as of July 2026. The dividend is variable, so it rises and falls with freight rates and profit.
Why is HAFN's P/E ratio so low?
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Shipping stocks like Hafnia often trade at low price-to-earnings ratios (around 7x in mid-2026) because the market expects cyclical freight rates and profits to fall from elevated levels. A low P/E on peak earnings is common in the tanker sector and reflects that cyclicality.
What drives Hafnia's earnings?
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The main driver is product tanker freight rates, set by the balance of ship supply against demand to move refined products. Longer shipping routes, refinery relocation, low newbuild orderbooks, and geopolitical disruptions can push rates up, while new ship deliveries or weaker oil demand can push them down.
How did Hafnia perform in 2025 and 2026?
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In FY2025 Hafnia earned about $339.7 million in net profit, down roughly 56% from 2024 as freight rates normalized. Momentum picked up in early 2026, with Q1 2026 net profit of about $179.7 million on a tight product tanker market, up sharply from a year earlier.
Who are Hafnia's main competitors?
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Its closest peers are pure-play product tanker owners TORM, Scorpio Tankers, and Ardmore Shipping. It also competes for investor capital with diversified and crude tanker owners like International Seaways, Frontline, and DHT Holdings, and with chemical shipping firms such as Stolt-Nielsen.
What are the biggest risks with HAFN?
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The largest risk is freight-rate cyclicality, which can cut profit and the variable dividend quickly, as the 56% FY2025 profit drop showed. Other risks include geopolitical trade disruptions, fleet-renewal costs, decarbonization regulation, and BW Group's controlling ownership stake.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Hafnia Limited's investor relations page or your broker before making investment decisions.