Havila Shipping ASA - Delivery and sale of DSV vessel

23.02.2011

Havila Shipping has entered into a charter contract with Tallis Energy Norway for the PSV vessel Havila Crusader for a fixed period of one year starting during December 2010, with two optional periods each of six months duration.

The Havyard 858 DSV, Seven Havila, that has been under construction at Havyard is today delivered from the yard to a subsidiary of Havila Shipping and then sold to the joint venture company Acergy Havila Limited which is 50% owned by a subsidiary of Havila Shipping and 50% by a subsidiary of Subsea 7 S.A. The vessel will from today be on a 10 years bareboat charter from Acergy Havila Limited to an indirect subsidiary of Subsea 7 S.A. The sale of the vessel will represent no gain or loss for Havila Shipping but will have positive liquidity effect.

Havila Shipping ASA