Havila sheds pair of platform suppliers

Norwegian shipping company Havila Shipping has entered into agreements for the sale of two platform supply vessels (PSVs).

The Havila Faith and Havila Favour vessels are expected to be delivered to new owner within short time, Havila said on Thursday.

Following the sale it is expected that the lenders and Havila Holding will exercise warrants through debt conversions into new shares corresponding to agreements decided by the General Meeting on January 4, 2017.

It is expected that number of shares will increase by approximately 3,190,000 up to approximately 22,098,000 shares following the sale. The sale will have low impact on result and liquidity.

Havila also added that the equity effect of the planned debt conversion was booked in the group accounts through the restructuring on February 28, 2017 and the sale will cause minor equity adjustments.

Havila Faith was built in 1998 and Havila Favour in 1999. Both vessels are of a VS 483 Design.