Please find attached information to bondholders in HAVI04 and HAVI07
Contact:
Chief Financial Officer Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachments
Summary
The fright revenues in the third quarter were NOK 176 million, which is a decrease from a strong second quarter and lower than the corresponding quarter last year after one ship was sold out of the fleet in January this year. Three vessels are sold in the fourth quarter. In the third quarter, the company has reversed previous impairment charges related to these three vessels of NOK 465 million with approximately equivalent value adjustment of the debt.
Result for 3 quarter 2023
Result year to date 2023
Balance and liquidity per 30/09/23
Total current assets amounted to NOK 1,172.1 million on 30/09/23, whereof bank deposits were NOK 103.0 million (whereof NOK 11,1 million restricted cash related to withholding tax and interest and instalment payments). On 30/09/22, total current assets amounted to NOK 695.3 million, whereof bank deposits amounted to NOK 215.7 million (of this NOK 74.7 million restricted cash related to withholding tax, interest and instalment payments and deposit in connection with sale of vessel).
Net cash flow from operations was per 30/09/23 NOK 17.0 million (NOK 200.3 million). Cash flow from investing activities was NOK 5.4 million (NOK 3.4 million). Payment of loan instalments and lease liabilities constituted a net change from financing activities of NOK -71.8 million (NOK - 92.9 million). As of 30/09/23, the book value of the fleet is NOK 669 million.
Vessels which are agreed sold in Q4 2023 are recognized under current assets as Assets held for sale.
Total long-term loan debt recognized in the balance sheet was per 30/09/23 NOK 667.9 million, of which interest-bearing debt amounts to NOK 572.1 million and non-interest-bearing debt NOK 95.8 million. As of 30/09/23, nominal value of interest-bearing debt was NOK 1,148.7 million, and nominal value of non-interest-bearing debt was NOK 1,620.7 million. All nominal interest-bearing debt is in NOK. Secured debt are classified as long-term debt, except from known instalments and settlement of debt related to sale of vessels which is classified as short-term debt.
Fleet
Havila Shipping ASA operates today 14 vessels,
10 PSV
- Four owned externally
- One owned 50% and not consolidated
3 Subsea
- One owned externally
- One hired out on bareboat contract
1 RRV (bareboat)
Employees
Havila Shipping ASA had per 30/09/23 365 employees on the company’s vessels and 15 employees in the administration.
Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
Equinor Energy has extended the contract for Havila Charisma by exercising one year option to mid December 2024.
Equinor Energy has three additional options, each of one year for the period to mid December 2027.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Equinor Energy has extended the contract for Havila Foresight by exercising one year option for 2024.
Equinor Energy has three additional options, each of one year for the period from 2025 to the end of 2027.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Havila Shipping ASA has, following demands from lenders, and in accordance with the current restructuring agreement, sold the PSV vessel Havila Commander and the AHTS vessels Havila Jupiter and Havila Venus The ships are scheduled to be delivered to new owners at the beginning of November. The sales proceeds will be used to repay the debt and will have a limited effect on the company's liquidity.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Please find attached information to bondholders in HAVI04 and HAVI07
Contact:
Chief Financial Officer Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachments
Reach Subsea has exercised one year option for Havila Subsea.
Following the exercise, the ship will be on contract to the end of 2024.
Contacts
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Summary
Result for 2 quarter 2023
Result for 1st half of 2023
Balance and liquidity per 30/06/23
Total current assets amounted to NOK 312.7 million on 30/06/23, whereof bank deposits were NOK 82.2 million (whereof NOK 9.5 million restricted cash related to withholding tax). On 30/06/22, total current assets amounted to NOK 395.3 million, whereof bank deposits amounted to NOK 106.6 million (of this NOK 3.4 million restricted cash related to withholding tax).
Net cash flow from operations was per 30/06/23 NOK - 42.9 million (NOK - 39.4 million). Cash flow from investing activities was NOK 1.9 million (NOK 6.9 million). Payment of loan instalments and lease liabilities constituted a net change from financing activities of NOK - 31.6 million (NOK - 39.7 million).
As of 30/06/23, the book value of the fleet is NOK 1,078 million.
Total long-term loan debt recognized in the balance sheet was per 30/06/23 NOK 1,116.8 million, of which interest-bearing debt amounts to NOK 1,012.2 million and non-interest-bearing debt NOK 104.6 million. As of 30/06/23, nominal value of interest-bearing debt was NOK 1,184.2 million, and nominal value of non-interest-bearing debt was NOK 1,744.7 million. All nominal interest-bearing debt is in NOK. Secured debt are classified as long-term debt, except from known instalments which is classified as short-term debt.
Fleet
Havila Shipping ASA operates today 17 vessels,
11 PSV
- Four owned externally
- One owned 50% and not consolidated
2 AHTS
3 Subsea
- One owned externally
- One hired out on bareboat contract
1 RRV (bareboat)
Employees
Havila Shipping ASA had per 30/06/23 359 employees on the company’s vessels and 15 employees in the administration.
Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
OceanPact has declared the option for one year extension of the bareboat agreement on Havila Harmony (Parcel Dos Meros).
The agreement keep the vessel on contract until December 2024
Contacts
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, 47 909 87 706
This information is subject to the disclosure requirementspursuant to Section 5-12 the Norwegian Securities Trading Act
Please find attached information to bondholders in Havi04 and Havi07
Contact:
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachments
Havila Shipping has entered into an agreement with Equinor Energy AS for the PSV Havila Clipper for extension of the existing contract until June 2024.
It is also agreed an optional period for 6 months for the period to December 2024.
Havila Shipping has entered into contract with Peterson Den Helder BV for 2 optional periods each of one year, for the PSV Havila Borg.
The options are for the period from April 2024 to April 2026.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Summary
The market for the company’s vessels in the first quarter has been better than the first quarter of 2022 in all segments.
The spot market has improved significantly, particularly for anchor handling vessels. Income and profit are significantly affected by the sale of vessels.
Sales of vessels make a significant profit contribution as the debt value was regulated in the fourth quarter of 2022.
Result for 1 quarter 2023
Balance and liquidity per 31/03/23
Total current assets amounted to NOK 289.0 million on 31/03/23, whereof bank deposits were NOK 88.8 million (whereof NOK 0.5 million restricted cash related to withholding tax). On 31/03/22, total current assets amounted to NOK 341.4 million, whereof bank deposits amounted to NOK 66.9 million (of this NOK 0.5 million restricted cash related to withholding tax).
Net cash flow from operations was per 31/03/23 NOK - 57.2 million (NOK - 16.2 million). Cash flow from investing activities was NOK 6.0 million (NOK 3.3 million). Payment of loan instalments and lease liabilities constituted a net change from financing activities of NOK - 13.4 million (NOK - 20.1 million). As of 31/03/23, the book value of the fleet is NOK 1,110 million.
Total long-term loan debt recognized in the balance sheet was per 31/03/23 NOK 1,123.8 million, of which interest-bearing debt amounts to NOK 1,017.0 million and non-interest-bearing debt NOK 106.8 million. As of 31/03/23, nominal value of interest-bearing debt was NOK 1219.7 million, and nominal value of non-interest-bearing debt was NOK 1,708.7 million. All nominal interest-bearing debt is in NOK. Secured debt are classified as long-term debt, except from known instalments which is classified as short-term debt.
Fleet
Havila Shipping ASA operates today 17 vessels,
11 PSV
- Four owned externally
- One owned 50% and not consolidated
2 AHTS
3 Subsea
- One owned externally
- One hired out on bareboat contract
1 RRV (bareboat)
Employees
Havila Shipping ASA had per 31/03/23 357 employees on the company’s vessels and 14 employees in the administration.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
The Annual General Meeting in Havila Shipping ASA was held on 23 May 2023.
All proposals were approved according to the distributed agenda.
The minutes of meeting is attached and will be made available at the company website.
Fosnavåg, 23 May, 2023
Havila Shipping ASA
www.havilashipping.no
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
The Board of Directors of Havila Shipping ASA hereby gives notice of the Annual General Meeting.
The meeting will take place on 23 May, 2023, at 14 hours. The meeting will be held as a digital meeeting only, with no physical attendance for shareholders.
The notice will be sent to shareholders, by post to the registered address in VPS, or through VPS.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
TotalEnergies EP Danmark has extended the existing contract for Havila Fanø by 6 months for the period between June and December 2023.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Today, the Board of Directors of Havila Shipping ASA has approved the
financial statements for 2022 for both the Group and the parent company. The
accounts are in line with preliminary accounts released on 28th February 2023.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachments
Please find attached information to bondholders in Havi04 and Havi07
Contact:
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachments
Peterson den Helder BV has declared the 12 months optional periods for the PSVs Havila Borg and Havila Herøy.
The extended period will end in April 2024.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Summary
The market for the company’s vessels has been variable in the fourth quarter. The company has been exposed to a limited extent in the spot market. Income and profit are affected to a significant extent by the sale of vessels, and reversed write-downs of vessels. Reversed write-downs result from increased income estimates and also result in an increased debt value.
Agreement with lenders entered into in 2020 clarifies the company’s obligations towards the lenders for the period until 2024. Five vessels that have been in lay-up, of which 3 AHTS and 2 PSV, have been sold. Of these, 3 vessels were delivered to new owners in the second quarter, one vessel was delivered in the third quarter and one vessel was delivered in the fourth quarter.
Another vessel has been agreed sold, and was delivered to the new owner in January 2023. The vessel is per 31/12/22 classified as assets held for sale. After the maximum reversal of historical impairment charges, the book amount is lower than the sales value. The debt is recognized at fair value, which is approximately equal to the sales value. As a result of the debt associated with this vessel being valued at fair value as of 31/12/22, while the book value of the vessel is limited to the original depreciation plan, the group will have negative equity at the end of 2022. The group’s equity became positive again when a significant gain on sale of assets is booked upon delivery of the vessel in January 2023.
Havila Shipping ASA achieved an operating income before depreciation of NOK 50.4 million in Q4 2022, compared with NOK 36.4 million in Q4 2021.
Result for 4 quarter 2022
Result 2022
Balance and liquidity per 31/12/22
Total current assets amounted to NOK 698.3 million on 31/12/22, whereof bank deposits were NOK 147.4 million (whereof NOK 70.8 million restricted cash related to withholding tax, interest and instalment payments and deposit in connection with sale of vessel). On 31/12/21, total current assets amounted to NOK 245.2 million, whereof bank deposits amounted to NOK 100.9 million (of this NOK 5.4 million restricted cash related to withholding tax).
Net cash flow from operations was per 31/12/22 NOK 229.7 million (NOK 126.5 million). Cash flow from investing activities was NOK - 35.2 million (NOK - 34.2 million). Payment of loan instalments and lease liabilities constituted a net change from financing activities of NOK - 144.9 million (NOK - 98.2 million).
As of 31/12/22, the book value of the fleet is NOK 1,140 million.
Total long-term loan debt recognized in the balance sheet was per 31/12/22 NOK 1,677.7 million, of which interest-bearing debt amounts to NOK 1,578.6 million and non-interest-bearing debt NOK 99.1 million. As of 31/12/22, nominal value of interest-bearing debt was NOK 1,781.0 million, and nominal value of non-interest-bearing debt was NOK 1,657.1 million. Of nominal interest-bearing debt 29.5 % are loans in USD, while the remaining loans are in NOK. Secured debt are classified as long-term debt, except from known instalments which is classified as short-term debt.
Fleet
Havila Shipping ASA operates today 17 vessels,
11 PSV
- Four owned externally
- One owned 50% and not consolidated
2 AHTS
3 Subsea
- One owned externally
- One hired out on bareboat contract
1 RRV (bareboat)
Employees
Havila Shipping ASA had per 31/12/22 382 employees on the company’s vessels and 15 employees in the administration.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
The company has entered into a contract with Equinor Energy AS for the PSV Havila Clipper for a firm period of 6 months and two optional periods each of 2 months.
The contract starts in second half of February in direct continuation of existing contract.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act