Hafnia completes CEO transition as Skov moves toward board role

Estimated reading time: 2 minutes

Hafnia Limited has completed its planned chief executive transition, with Søren Steenberg Jensen taking over as CEO on September 1 from Mikael Øpstun Skov, who is now set to be proposed for election to the tanker operator’s board.

The Singapore based company said the leadership change would not alter its previously communicated strategy or operating model. Hafnia first announced the succession plan on June 30.

The transition puts Jensen at the helm of one of the world’s largest product tanker operators, with a fleet of around 180 vessels carrying oil, refined products and chemicals for energy companies, traders and utilities.

Hafnia has called an extraordinary general meeting for September 23 in Singapore, where shareholders will consider appointing Skov as a director of the company.

The meeting is scheduled for 10:00 Singapore time at Hafnia’s offices at Mapletree Business City.

Moving a departing chief executive onto the board can preserve management experience during a leadership change. In Hafnia’s case, the company has explicitly stressed continuity, saying Jensen’s appointment will bring no change to its existing strategy or operating approach.

Skov has led Hafnia through a period in which tanker markets have been shaped by changing oil trade flows, geopolitical disruption and longer voyage distances on several major routes.

Jensen assumes responsibility for a business extending beyond vessel ownership. Hafnia operates an integrated shipping platform covering technical management, commercial and chartering services, pool management and bunker procurement.

The company employs more than 4,000 people ashore and at sea and maintains offices in Singapore, Copenhagen, Houston and Dubai.

Hafnia is listed in Oslo under the ticker HAFNI and on the New York Stock Exchange under HAFN. The company forms part of BW Group, whose shipping and maritime investments span oil and gas transportation, floating gas infrastructure, environmental technologies and deep water production.

Shareholders eligible to participate in the September 23 extraordinary general meeting have been provided with the meeting notice, supporting appendix and proxy documentation.

^{Source:Hafnia}