Hafnia
Hafnia is one of the world’s largest owners and operators of product and chemical tankers.
We commercially operate more than 200 modern vessels within a fully integrated shipping platform that includes technical management, commercial and chartering services, pool management across eight segments and a large-scale bunker procurement desk. Hafnia is a publicly traded company in Norway (Oslo Bors) and in the USA on the New York Stock Exchange.
With a strong focus on ESG, Hafnia is involved in two major projects in the USA including:
- A joint venture with Big Hill on the development of a sustainable hydrocarbon fuels plant (subject to FID) which will produce low-carbon blue methanol and at a later stage sustainable aviation fuel (SAF).
- An equity investment with Clean Hydrogen Works (CHW) on developing a clean hydrogen ammonia production and export project. This will aim to capture up to 98% of carbon dioxide emissions from its processes, providing a scalable pathway to supply carbon-free energy.
Hafnia Partners with Clean Hydrogen Works and Big Hill in Transformational Clean Fuel Projects
Clean Hydrogen Works
Hafnia is collaborating with Clean Hydrogen Works (CHW) on the Ascension Clean Energy (ACE) project, a large-scale clean hydrogen ammonia production and export initiative in Ascension Parish, Louisiana.
The project aims to capture up to 98% of CO2 emissions, with the potential for zero-carbon or carbon-negative hydrogen-ammonia production. With a projected investment of $7.5 billion and the creation of 350 permanent jobs, the project will significantly impact Louisiana’s economy. Hafnia will leverage its expertise to transport clean hydrogen ammonia globally, enhancing its transport portfolio with purpose-built vessels for zero-carbon contracts. Denbury Carbon Solutions will handle CO2 sequestration. Production is targeted for late 2027, with shipments beginning in 2028.
Hafnia CEO Mikael Skov emphasized the alignment of this project with Hafnia’s sustainability goals, while CHW COO Mitch Silver highlighted Hafnia’s industry leadership and commitment to reducing carbon emissions.
Hafnia is excited to announce its joint venture with Big Hill for the development of a sustainable hydrocarbon fuels plant. This innovative project, pending Final Investment Decision (FID), aims to produce low carbon intensity (CI) blue methanol and, at a later stage, sustainable aviation fuel (SAF). This collaboration underscores Hafnia’s commitment to advancing sustainable energy solutions and creating new opportunities in the shipping industry.
Big Hill
The joint venture will focus on establishing a state-of-the-art facility dedicated to the production of low CI blue methanol and SAF. These synthetic hydrocarbon fuels are crucial for reducing the carbon footprint of various industries, particularly maritime and aviation.
Initially, the plant will produce blue methanol, a type of methanol derived from natural gas but with significantly lower carbon emissions due to carbon capture and storage technologies. This low CI methanol serves as a cleaner alternative to traditional fossil fuels, supporting the transition to greener energy sources.
In a subsequent phase, the project will expand to include the production of SAF. This fuel, essential for the aviation industry’s sustainability goals, will further enhance the project’s impact on reducing global greenhouse gas emissions.
The development of this sustainable hydrocarbon fuels plant will open new avenues in the shipping industry. Hafnia and Big Hill will explore opportunities to transport CO2, methanol, and SAF via CO2 carriers, thereby creating a comprehensive supply chain for sustainable fuels and supporting the global shift towards cleaner energy.
Hafnia Orders Dual-Fuel Methanol Chemical IMO II MR Newbuilds
Hafnia ventures into the Methanol Landscape
Hafnia, in partnership with France’s Socatra, has ordered four 49,800 deadweight dual-fuel methanol chemical medium-range newbuilds from Guangzhou Shipyard International in China. This marks Hafnia’s first venture into dual-fuel methanol technology, aligning with its sustainability goals.
The first vessel, Ecomar Gascogne, was delivered in January 2025. The use of green methanol onboard eliminates local pollutants, including SOx and Particulate Matter (PM), cuts NOx emissions by 60%, and reduces CO₂ emissions by close to 100% on a tank-to-wake basis versus conventional marine fuels.
Søren Steenberg Jensen of Hafnia emphasizes the need for proactive steps and partnerships to support the financial viability of new fuel technologies. This order is part of Hafnia’s ongoing collaboration with TotalEnergies to advance low-carbon shipping solutions. Jerome Cousin of TotalEnergies underlines the importance of decarbonizing shipping and values the expanded relationship with Hafnia and Socatra for their expertise in providing safe, low-carbon shipping services.
Newbuild LNG Dual-Fuel Additions to the Hafnia Fleet
Modernising the Hafnia Fleet
Hafnia took delivery of the Hafnia Lillesand in March 2024. This is the final vessel in a series of four Aframax type LR2 vessels. In 2023, the three sister vessels delivered were Hafnia Languedoc, Hafnia Loire, and the Hafnia Larvik. The four vessels are time chartered out to longstanding customers TotalEnergies and Equinor and are all equipped with cleaner dual-fuel propulsion technology.
These four dual-fuel LNG vessels, equipped with Liquified Natural Gas (LNG) propulsion technology, are part of Hafnia’s transition to greener fuels. The vessels are fitted with high pressure MAN ME-GI engines and achieve a methane slip of less than 0.2%, which is considered a 70% improvement from LNG low pressure engines.
Adopting Liquefied Natural Gas (LNG) as a fuel aligns with Hafnia’s sustainability values and ambitions for a greener future. Switching to LNG as a fuel provides significant benefits, such as improving overall air quality and reducing GHG emissions. LNG is widely regarded as a promising marine fuel helping the shipping industry move towards its goal of a 50% reduction in GHG emissions by 2050.
LNG acts as a fuel that moves shipping towards its decarbonisation goals in the interim, in anticipation of hydrogen and ammonia becoming commercially viable. Compared to ships powered by traditional fuel oil, LNG as a marine fuel typically results in 97% lower Sulphur Oxide emissions, 97% lower Particulate Matter, 85% lower Nitrogen Oxide, and up to 20% lower overall GHG emissions.
A Summary of a Record Year
Hafnia Annual Report 2024
2024 was marked by significant milestones and transformative achievements, reinforcing our commitment to operational excellence, sustainability, and innovation.
One of the most notable highlights of 2024 was the successful delivery of Hafnia Lillesand, the final vessel in a series of four dual-fuel Aframax-type LR2 product tankers. Together with her sister vessels — Hafnia Languedoc, Hafnia Loire, and Hafnia Larvik, delivered in 2023 — these ships are jointly owned with CSSC Shipping and time chartered to long-standing partners TotalEnergies and Equinor. All four vessels are equipped with Liquefied Natural Gas (LNG) propulsion systems featuring high-pressure MAN ME-GI engines, achieving methane slip of less than 0.2% — a 70% improvement over low-pressure LNG engines. These vessels mark a major step forward in Hafnia’s transition to cleaner fuels and more efficient operations.
Our strategic focus on sustainability has never been more critical. In alignment with global efforts to combat climate change, we have made substantial investments in cutting-edge technologies that reduce our environmental footprint. Throughout 2024, Hafnia has navigated complex market dynamics with resilience and agility. We have continued to prioritize safety, reliability, and customer satisfaction, maintaining our position as a trusted partner in the maritime industry. Our financial performance reflects robust growth, driven by strategic investments and a commitment to operational efficiency.
