en.Wedoany.com Reported - Driven by high spot rates in the tanker market, Norwegian tanker leasing company Hunter Group achieved a record net profit of $53 million in the first quarter of 2026.

The company's operating cash flow for the quarter was $11.4 million, and net assets increased to $60.2 million as of March 31, 2026. Over the three months, the average time-charter-out rate linked to spot rates reached $232,832 per day, while the fixed time-charter-in rate remained at $51,750 per day, generating an average time-charter profit margin of $181,082 per day. The fleet achieved 100% utilization across all available days.

Hunter Group stated that even if the conflict in the Middle East is resolved, the tanker market is expected to remain strong.

On the operational front, the company reported an ongoing contract dispute. As disclosed on April 15, a long-term counterparty underpaid approximately $8.3 million in due payments for March. The counterparty continues to dispute its obligations. On May 18, Hunter Group announced that it was underpaid by approximately $9.2 million in April, bringing the total unpaid amount to about $17.8 million.

Hunter Group described the underpayments as a default and stated that its legal counsel is confident that the counterparty's reasons for the reduction are unfounded. To protect its contractual rights, the company declared it would take all necessary measures.

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