Hafnia Limited Transitions Smoothly to Singapore Corporate Structure
Hafnia Limited's Successful Redomiciliation
Hafnia Limited has successfully transitioned its corporate structure to Singapore, a move that marks a significant milestone for the company. This decision comes after an official stock exchange announcement made by Hafnia, detailing the recent developments surrounding its redomiciliation process. The Bermuda Supreme Court has officially sanctioned the scheme of arrangement aimed at facilitating this change.
Details of the Transition
The sanction hearing, officially termed the "Sanction Hearing," permitted Hafnia to discontinue its operations in Bermuda while continuing its corporate presence in Singapore. This transition is in accordance with Section 99 of the Bermuda Companies Act 1981, ensuring that Hafnia aligns its business operations with a more favorable regulatory environment.
The court's order has been duly filed with the Registrar of Companies in Bermuda, and Hafnia has secured final approval from the Singapore Accounting and Corporate Regulatory Authority. All conditions outlined in the scheme have been satisfactorily met, leading to the official establishment of Hafnia in Singapore.
Company Registration and Future Developments
Upon completion of the redomiciliation, Hafnia's new registration number in Singapore has been issued as 202440137E. In line with this process, the company has initiated the application for both a new ISIN code and a new CUSIP code, indicating its commitment to maintaining transparent communication with stakeholders regarding these changes.
About Hafnia Limited
Hafnia stands as a leader in the global tanker shipping industry. The company is renowned for transporting oil, oil products, and chemicals for a diverse range of clients including national and international oil companies, chemical corporations, and utility firms. With a fleet of approximately 200 vessels, Hafnia not only transportation services but also technical management, commercial and chartering services, as well as pool management.
In addition to its primary operations, Hafnia boasts a comprehensive bunker procurement desk, enhancing its logistical capabilities across regions. The company operates from multiple headquarters in key locations, including Singapore, Copenhagen, Houston, and Dubai, ensuring it remains close to its global customer base.
Part of a Larger Group
Hafnia is a proud member of the BW Group, an international shipping conglomerate with a rich history in oil and gas transportation, deep-water production, and environmental technologies. This affiliation allows Hafnia to leverage over 80 years of expertise in the shipping industry, ensuring it remains competitive and innovative in its approach.
Commitment to Excellence
The moves made by Hafnia to redomicile and enhance its corporate structure reflect its overarching strategy to adapt and thrive in the changing landscape of maritime shipping. By establishing its operational base in Singapore, Hafnia aims to optimize its strategic advantages in a region known for its robust regulations and business-friendly policies.
With over 4000 dedicated employees both at sea and onshore, Hafnia is well-positioned for future growth and endeavors to harness the opportunities that come with its new corporate identity.
Frequently Asked Questions
What prompted Hafnia Limited's redomiciliation?
The redomiciliation was approved to align Hafnia's operations with a more favorable regulatory environment in Singapore.
How many vessels does Hafnia operate?
Hafnia operates approximately 200 vessels, focusing on the transportation of oil, chemicals, and related products.
What key services does Hafnia provide?
Hafnia offers technical management, commercial chartering services, and a large-scale bunker procurement desk.
Who oversees Hafnia Limited's operations?
Hafnia is part of the BW Group, which has extensive experience in shipping and logistics for over 80 years.
What was Hafnia's registration number in Singapore?
The new registration number for Hafnia in Singapore is 202440137E.
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