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Havila posts $12M Q4 loss


Published Feb 4, 2009
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Havila subsea construction 858
courtesy Havila Shipping

Norway-based offshore fleet owner Havila Shipping on Wednesday posted a loss before tax for fourth-quarter 2008 of 86.3 million kroner ($12.4 million) despite selling ships for 311.8 million kroner in the final three months of 2009.

Day rates, too, were good for the company’s 14 offshore service ships, supply ships and anchor-handling tug-supply vessels, and the loss came despite a 114 percent hike in revenues to 294 million kroner ($42.3 million).

But importantly in Norway, the company will be able to transfer back some 26 million kroner in tax associated with “environment fund” contributions for rescue ships it sold in 2006. The fund of mostly tax is part of a government-industrty solution to channel emissions tax into money for “green shipping technologies”.

Tags: Havila Shipping



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