Havila Shipping stays in red in 3Q

  • Business & Finance

Norwegian vessel owner Havila Shipping again posted a third quarter net loss.

Presenting its results on Friday, Havila reported a loss of 57,6 million Norwegian Crowns ($7.1 million) , still a slight improvement of the 3Q of 2016 when it posted a loss of 65 million Norwegian crowns ($7,95 million).

Havila had 25 vessels in operation as of September 30. Of the entire fleet, 23 vessels are operated from Fosnavåg, one by an external owner. One of the POSH vessels was sold in September 2017.

The two remaining vessels operated by POSH Semco in Singapore have been sold, and delivery to the new owner will take place in November 2017. The JV company POSH Havila Pte Ltd in Singapore is currently under liquidation.

According to Havila, the fleet utilization in the third quarter of 2017 was 74 percent, excluding vessels in lay-up.

The company had five vessels laid up at the end of third quarter, two of these were AHTS, while the three were PSVs. The laid up PSVs are defined as being outside the core business and are marked for sale. Havila also said in its 3Q financial report that one subsea vessel was marked for work.




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