Norway: Havila Shipping Sells AHTS Vessel to International Player

Havila Saturn KS where subsidiaries of Havila Shipping owns 85% has decided to sell the Anchor Handler Tug Supply vessel Havila Saturn, Havila Saturn is a Havyard 842 design vessel and was delivered to the company in February 2008.

The price confirms the market values. The sale will give a considerable gain and liquidity effect. The buyer is an international player and the trade is expected to be completed during first quarter.

Havila Shipping ASA was established on 31 July 2003 and operates today 27 vessels; platform supply vessels, anchor handling tug supply vessels, rescue- and recovery vessels. The company has a newbuilding program of 2 vessels.

The Company’s business consept is to provide maritime support functions for international offshore oil and gas production, to own and run the assets regarded as necessary or desirable for this, and to provide associated services.

The Company’s goal is to be the leading provider of quality-assured supply services to offshore companies, both national and international. The Company aims to safeguard its long-term perspective through a balanced chartering strategy that ensures a basic cash flow combined with an assessed exposure to the spot market.

The main market for the Company’s ships is the North Sea and Asia Pacific region. 3 vessels are working in Brasil on long term contracts with Petrobras.

The Company has its head office in Fosnavåg, where it has 30 employees.

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Source:Havila Shipping, February  4, 2011;