From welcoming new fleet additions to exciting ventures in the USA, and the AI field, to pursuing a dual listing in the US – and many more initiatives that mark the energy transition journey – it has been a busy year all around for Hafnia in 2024.
We are pleased to share some perspectives and reflections on the year passed and the year ahead from two members of Hafnia’s Executive Management Team: Mikael Skov (CEO) and Mia Krogslund Jørgensen, VP (Head of People, Culture & Strategy).
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From your point of view, what were some defining moments for Hafnia in 2024, and how did they shape the company’s vision and direction moving forward?
Mikael Skov, CEO: 2024 was a transformative year for Hafnia, marked by significant milestones that strengthened our position as a global leader in tanker shipping and laid the groundwork for future growth.
In the spring of 2024, we reported our best annual financial results in Hafnia’s history.
With a strong focus on shareholder value and an updated dividend policy, we also delivered record dividend payouts. Our US listing, which followed soon after, was a pivotal step for our future ambitions. It showed our commitment to transparency, global expansion, and deepening engagement with US investors who share our vision for growth. I will elaborate on this further in question three.
I am particularly proud of the progress made in our venture projects this year. Together with industry experts, we have strengthened our position in energy transition by developing transformative shipping solutions, and AI technologies. Our partnerships are essential in addressing the evolving requirements of energy transportation and our responsibility to deliver solutions that meet these challenges. I am excited about 2025, when some of our key US projects, such as Clean Hydrogen Works and Big Hill, are expected to reach Final Investment Decisions.
Another milestone worth mentioning is our joint-venture partner Socatra of France, where we placed an order for four 49,800 deadweight dual-fuel Methanol Chemical IMOII Medium-Range (MR) newbuilds from Guangzhou Shipyard International (GSI).
Preparing to welcome these vessels has been an exciting priority. These newbuilds reflect our commitment to modernization and environmental stewardship, ensuring we meet evolving regulatory standards and charterer expectations while maintaining our position at the forefront of the segment.
2. As you look back on the year, which initiatives have carried out Hafnia’s CARE values and corporate culture?
Mia Krogslund Jørgensen, VP (Head of People, Culture & Strategy): 2024 was a remarkable year for Hafnia. When we celebrated our US listing and the best financial results in the history of our company, we wanted to make sure everyone felt part of it. We therefore coordinated celebrations across our offices and onboard our vessels – centered around the momentum of our achievements. We collaborated with an artist to commission a piece that reflected our values – using the events to showcase the painting, which demonstrated the pride and unity that define us.
This year also saw the launch of Ambitious Leadership@Sea and a physical Alumni event for Ambitious Leaders@Shore. These programs demonstrate our dedication to developing strong leaders who embody our values and drive excellence in every aspect of our business. We continue to see strong leadership as a crucial part of driving innovation, and performance and building a strong culture with resilient teams. It also ensures that we thrive in a competitive market while still staying true to aligning our values and preparing the organization for future challenges.
In 2024, we also saw amazing progress across five of our culture lab vessels – where we are crewing vessels with at least 50% women to learn about how we can make seafaring a fulfilling and inclusive career for all.
We have already experienced great first learnings from a culture and ship design perspective that we have already been able to implement. I believe our industry via this project can benefit from a great set of tangible insights that can be applied to making seafaring careers for all a worthy experience! Our Head of Technical Ralph Juhl, EVP recently participated in a podcast with the latest updates, which I recommend to listen in on! Our sixth vessel is expected to reach its target at the end of the year, and I look forward to seeing what 2025 will bring for the Hafnia Culture lab vessels!
Generally, our focus on people remained a key priority throughout the year. Initiatives such as Wellness Month and the expansion of mentoring programs emphasized the importance of well-being, inclusivity, and professional development for all employees to drive performance.
3. A significant milestone in Hafnia’s growth trajectory was accomplished in 2024 with the additional listing on the New York Stock Exchange. What have been the benefits of this?
Mikael Skov, CEO: The dual listing on the New York Stock Exchange (NYSE) earlier this year marked a transformative milestone in Hafnia’s growth journey, reflecting our commitment to enhancing global reach and creating long-term value for shareholders.
On April 9, 2024, Hafnia’s common shares began trading on the NYSE under the ticker “HAFN,” complementing our existing listing on the Oslo Stock Exchange under “HAFNI.”
Listing on the NYSE, the world’s largest capital market, significantly expands our access to a broader and more diverse pool of investors. By engaging institutional investors and retail traders in the U.S., we are opening doors to those seeking exposure to the dynamic and increasingly critical maritime industry. This move not only strengthens our position in international markets but also enhances liquidity and transparency in our shares, which are crucial for building investor confidence and long-term trust, as well as a share price reflecting the underlying value of the business.
4. 2025 will mark 15 years of history for Hafnia. What are some reflections over these years?
Mikael Skov, CEO and Mia Krogslund Jørgensen, VP (Head of People, Culture & Strategy):
Over the past 15 years, Hafnia has evolved from a small entrepreneurial venture into one of the world’s leading tanker companies. This growth highlights how ambitious goals, exceptional people, a clear strategy, and a patient approach to managing downside risks can deliver extraordinary and unique results.
Hafnia’s significance has required adaptability and a willingness to embrace change and remain agile, unlocking exciting opportunities along the way. From our early days to building tanker pools to working our way through strategic mergers and global listings, Hafnia’s success stems from seizing the right market opportunities while fostering a strong organizational culture.
Central to this success has been our strong commitment to our people and values, from day one. We have cultivated a culture that prioritizes transparency, resilience, and innovation. Our journey so far can only show the true power of strategic planning, a people-first approach, and disciplined execution. Looking ahead, Hafnia remains dedicated to driving innovation, promoting sustainability, and delivering long-term value to all our stakeholders.
5. Going into 2025, how can we expect the insights of 2024 to shape 2025?
Mikael Skov, CEO and Mia Krogslund Jørgensen, VP (Head of People, Culture & Strategy):
The insights gained in 2024 have positioned Hafnia to enter 2025 with a clear focus on growth, innovation, and being prepared for our volatile market. Over the past year, we expanded partnerships, optimized fleet composition, and secured long-term time charter deals, strengthening our commercial position. These efforts will carry forward as we continue to grow our pools, explore projects including the transportation of renewables, and prioritize future-ready vessels.
Our progress in governance, particularly around SOX compliance and risk management, has reinforced transparency and accountability, setting a strong foundation for the year ahead. At the same time, our focus on ESG reporting ensures we are well-prepared for evolving regulatory standards.
Innovation remains a key driver as we build on the success of digital initiatives like Complexio and our Digital Dreams Roadmap initiative. Leveraging data-driven decision-making, advancing AI, and enhancing cybersecurity will help us simplify operations and improve efficiency as we move into 2025.
Sustainability also continues to be a priority. The steps taken in 2024 to lower emissions and improve efficiency align with our long-term environmental goals. In 2025, we remain committed to reducing carbon intensity and driving meaningful progress toward achieving net-zero emissions.
Above all, people remain at the heart of everything we do. Whether through leadership development, fostering DIBE, or prioritizing employee well-being, 2024 reaffirmed the importance of our people. Moving forward, we will continue to engage and empower our workforce to ensure Hafnia remains prepared for the challenges and opportunities ahead, especially those that we face in the energy transition.
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