Skov to step down as Hafnia chief executive

The Oslo- and New York-listed company has appointed Søren Steenberg Jensen, executive vice president and head of asset management, as its next chief executive officer. Skov is expected to join Hafnia’s board of directors, subject to approval at an extraordinary general meeting.   Skov has led Hafnia since its establishment in 2010 and helped build the BW Group-backed company into one of the world’s largest product tanker owners and operators. He became chief executive officer of the listed Hafnia in 2019 following the merger of Hafnia Tankers and BW Tankers.

Before co-founding Hafnia Tankers, Skov spent 25 years at Danish product tanker owner Torm, including two years as chief executive officer.

Andreas Sohmen-Pao, chairman of Hafnia, said Jensen’s long involvement in the company’s strategy and culture made him a natural successor. Jensen has been part of Hafnia’s executive management team as head of asset management, a key role covering fleet strategy and ownership structure.   The succession comes with Hafnia in strong earnings form and a busy period, which has seen the company renew its fleet and build out its product tanker platform. The company booked a first-quarter net profit of $179.7m, up from $63.2m a year earlier, and completed the sale of three LR1s, two MRs and one handy vessel, while further disposals followed in the second quarter.

Splash reported in April that Hafnia had ordered eight MR product tankers at HD Hyundai Heavy Industries in a deal worth about $405m, with deliveries scheduled between the third quarter of 2028 and the second quarter of 2029.

The company has also been active in consolidation. Last year, Hafnia acquired a 14.45% stake in Danish rival Torm from Oaktree for $311.4m, while saying no decision had been made on a broader combination. Hafnia’s first-quarter report said the Torm position had generated about $9.9m in dividend income, with the market value of the stake standing at $395m at the end of March.