Seven Havila DSV Delivered and Sold to Subsea 7 S.A. Subsidiary (Norway)

The Havyard 858 DSV, Seven Havila, that has been under construction at Havyard is today delivered from the yard to a subsidiary of Havila Shipping and then sold to the joint venture company Acergy Havila Limited which is 50% owned by a subsidiary of Havila Shipping and 50% by a subsidiary of Subsea 7 S.A.

The vessel will from today be on a 10 years bareboat charter from Acergy Havila Limited to an indirect subsidiary of Subsea 7 S.A.

The sale of the vessel will represent no gain or loss for Havila Shipping but will have positive liquidity effect.

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.

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Source:Havila Shipping, February  23, 2011;