Havila Shipping - Delivery of AHTS POSH Venture

03.04.2009

The AHTS vessel POSH Venture will be delivered to the company today from Nam Cheong Dockyard Sdn Bhd in Malaysia who has built the vessel in a Chinese shipyard.

POSH Venture will be operated from the 50% owned POSH Havila Pte Ltd in Singapore on a 5 years Bareboat Charter.

The joint venture company POSH Havila Pte operates thereafter seven AHTS vessels, from May when POSH Virtue will be delivered from the yard - eight vessels.

The POSH Venture purchase price is USD 22.2 millions. The vessel will leave the yard for a firm contract for 14 days.

The most of the POSH Havila operated vessels have a firm contract period of 12 months.

Havila Shipping - Contract for Havila Phoenix

03.04.2009

Havila Shipping has signed a contract for the SubSea vessel Havila Phoenix for a firm period of 4 months with an optional period of up to three months.

Actual dayrate confirm the company expectations and the cash flow from the contract is very satisfactory.

The contract is with a Mexican company and the vessel will operate in the Gulf of Mexico where she is expected to arrive in second part of this month.

Havila Shipping ASA