Hafnia is set to report its Q3 figures on Monday next week. We adjust our open days estimates to reflect actual rates in the quarter, lowering our EBITDA estimate to USD 151.7m (old: USD 161.6m), which leaves us 2% below street expectations. For the full year of 2025 and 2026, we are -1% below and +13% above consensus, respectively. Asset values have come up somewhat in recent months, and current pricing suggests a discount to NAV of 13%, while simultaneously trading at a P/E of 6.4x and 6.2x in ....
