Havila Shipping terminates charter with DeepOcean

Norwegian shipowner Havila Shipping has terminated the charter with DeepOcean for Havila Phoenix subsea vessel due to the breach of contractual obligations.

The subsea vessel Havila Phoenix has since 2013 served
DeepOcen, under a charterparty with firm period until May 2023 with further
options.

On the 18 November 2020, Havila Shipping received a letter from DeepOcean containing information regarding their intension to seek protection under British law for wind up of the UK based activities, including the company that has chartered Havila Phoenix.

After having finalized the project Havila Phoenix was engaged in at the time of receiving the DeepOcean letter, the shipowner received no further instructions regarding the future use of the vessel.

DeepOcean has, as a result of their activities, ended up in
breach of contractual obligations, including payment default, according to
Havila Shipping.

As a consequence, Havila Shipping has on December 11, 2020, terminated
the charterparty.

Further, Havila Shipping has requested payment from
DeepOcean Group in the Netherlands under the Parent Company Guarantee issued to
fulfil the chartering company’s contractual obligations.

As a consequence of the termination Havila Shipping said it would
immediately offer the vessel to the market.