Hafnia chief executive Mikael Skov has renewed a call for product tanker consolidation after another loss-making quarter.

The BW Group-owned company outperformed analysts' expectations on rates, but it remains mired in weak markets as oil demand recovers from Covid-19 hits.

The shipowner's net loss was $15.7m in the three months to 31 March, against profit of $77m in the same quarter of 2020.