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    Havila Shipping makes loss in third quarter

    Company News // October 23, 2015

    Havila Shipping achieved an operating income before depreciation of NKr 178 million in the third quarter of 2015, compared with NKr 305 million in the third quarter of 2014. Total operating income was NKr 378 million compared with NKr 520 million in the same period in 2014.

    Havila said the spot market for offshore vessels was "characterized by supply far exceeding demand."

    The company said the consequence of low utilization and low rates is that many vessels have achieved revenues lower than operating expenses. It said the market weakened further during the quarter.

    The company has decided to lay up two of its anchor handlign tug/supply (AHTS) vessels. Fleet utilization was 92 per cent.

    The company's operating profit before depreciation was NKr 177.9 million (NKr 305.1 million). The result before tax was a loss of NKr -72.3 million (NKr 72.2 million).

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