Sale of Havila Saturn AHTS Shows High Value of Havyard Design in Second Hand Market (Norway)

Havila Saturn, a Havyard 842 design, is sold on from Havila Shipping ASA with a considerable profit to an international buyer. The AHTS vessel delivered in 2008 from Havyard Leirvik AS was the first ever Havyard design.

With the ship now being sold on at a good profit only confirms that the Havyard 842 design is highly valued in the second hand market. The sale also confirms the initial decision of designing Havyard 842 being a correct one. Crews on these vessels in operation have also given excellent feedback on the design`s sea-keeping abilities and overall operability.

According to a press statement from Havila Shipping ASA, the deal between Havila Shipping and the buyer of Havila Saturn is expected to be completed during the first quarter of 2011. The Norwegian financial newspaper, Dagens Næringsliv (DN), refers to the selling price of Havila Saturn being USD 61 millions.

Havyard`s 842 AHTSs are designed to do operations in the North Sea and also worldwide. Since newbuild 092 was contracted at Havyard Leirvik in November 2005, a further 12 vessels of this design have been contracted. Four of these at Havyard Leirvik, four in India and four more in China for shipowners in Norway, India and Singapore.

Last autumn a PSV of Havyard 832 design was sold on for around NOK 310 million, another confirmation of the good second hand value of offshore ships by a Havyard designTM. A total of 11 Havyard 832 designs are either delivered or being built.

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Source:Havyard Group, February  15, 2011;