Havila Shipping (HAVI)

zappa66 · november 19, 2020, 7:50pm

Les prospektet, massiv utvanning av alle utenom hovedaksjonær kommer

TekBot · november 27, 2020, 2:09pm

Havila Shipping ASA: Third quarter 2020 accounts

Summary
The sharp fall in oil prices and the outbreak of the Covid-19 virus in the first
quarter have reduced activity in the market in where the vessel operates.
…
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Reduced demand for vessels has a negative effect on the company. The market
outlook was reassessed in the second quarter and led to a write-down of the
value for most vessels. The assessments were maintained in the third quarter.
The agreement on restructuring of the company’s debt was implemented on
30/06/20 and clarifies the company’s obligations to lenders for the period until
2024. The calculated effect of the agreements means that book equity is positive
at the end of 2nd quarter. The implementation effect of the agreement was
incorporated in the accounts for the second quarter. Financial expenses in the
accounts consist of a change in the calculated present value of estimated debt
service for the vessels during the agreement period.
Havila Shipping ASA achieved an operating income before depreciation of NOK
36.4 million in Q3 2020, compared with NOK 92.9 million in Q3 2019.
Total operating income was NOK 188.7 million in Q3 2020, compared with NOK
211.5 million in Q3 2019.
The group had as of 30/09/20 23 vessels operated from Fosnavåg, six for external
owners.
The group had 3 AHTS and 4 PSV vessels laid up at the end of Q3 2020.
The fleet utilization Q3 2020 was 87 % exclusive vessels in lay-up.

Result for 3 quarter 2020.

Total operating income amounted to NOK 188.7 million (NOK 211.5 million).

Total operating expenses were NOK 152.3 million whereof NOK 48.7 million is
provision for loss on receivables. Ordinary operating expenses amounts to
NOK 103.6 million (NOK 118.6 million).

Operating profit before depreciation was NOK 36.4 million (NOK 92.9
million).

Depreciation was NOK 87.4 million (NOK 81.2 million).

Net financial items were NOK 68.0 million (NOK -110.7 million), whereof
unrealized agio gain was NOK 19.6 million (unrealized agio loss NOK 51.7
million), and value adjustment of debt was NOK 47.9 million (NOK 0).

The profit before tax was NOK 16.9 million (NOK -100.0 million).

Result year to date

Total operating income amounted to NOK 598.5 million (NOK 551.3 million).

Total operating expenses were NOK 451.1 million whereof NOK 101.4 million is
provision for loss on receivables. Ordinary operating expenses amounts to
NOK 349.7 million (NOK 348.6 million).

The operating profit before depreciation was NOK 147.4 million (NOK 202.7
million).

Depreciation was NOK 261.9 million (NOK 241.3 million).

Impairment charge of fixed assets was NOK 521.0 million (NOK 0).

Net financial items were NOK 1,878.5 million (NOK -208.0 million), whereof
unrealized agio loss was NOK 61.2 million (unrealized agio loss NOK 35.6
million) and value adjustment of debt related to the implementation effects
of the restructuring agreement with the company’s lenders was NOK 2,064.4
million (NOK 0).

The profit before tax was NOK 1,243.1 million (NOK -249.4 million).

Balance and liquidity per 30/09/20

Total current assets amounted to NOK 295.0 million on 30/09/20, whereof bank
deposits were NOK 139.5 million (of this NOK 1.2 million restricted withholding
tax). On 30/09/19, total current assets amounted to NOK 379.6 million, whereof
bank deposits amounted to NOK 92.5 million (of this NOK 0.8 million restricted).
Net cash flow from operations was year to date NOK 94.1 million (NOK 43.1
million). Cash flow from investing activities was NOK -33.1 million (NOK -17.9
million). Payment of loan instalments and lease liabilities, and raising a
covertible shareholder loan constitute a net change from financing activities of
NOK -27.6 million (NOK -18.2 million).
The book value of the fleet is NOK 2,230 million after impairment charge of NOK
521 million in the 2nd quarter.
Total long-term debt recognized in the balance sheet was per 30/09/20 NOK
2,069.9 million, of which interest-bearing debt amounts to NOK 1,922.4 million
and non interest-bearing debt NOK 147.5 million.
As of 30/09/20, nominal value of interest-bearing debt was NOK 2,948.8 million,
and nominal value of non interest-bearing debt was NOK 1,233.6 million. Of
nominal interest-bearing debt 21.4 % 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 23 vessels,
? 14 PSV
                Four owned externally
                One owned 50% and not consolidated
? 5 AHTS
? 3 Subsea
? 1 RRV (bareboat)

Employees
Havila Shipping ASA had per 30/09/20 377 employees on the company’s vessels and
33 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

Kilde

TekBot · desember 10, 2020, 11:51am

Havila Shipping ASA: Nye kontrakter med Equinor Energy AS for PSV fartøyene Havila Charisma og Havila Foresight

TekBot · desember 11, 2020, 7:55am

Havila Shipping ASA: Termination of charterparty with DeepOcean for Havila Phoenix

The subsea vessel Havila Phoenix has since 2013 served DeepOcen, under a
charterparty with firm period until May 2023 with further options.
On the 18 November 2020 Havila Shipping received a letter from DeepOcean
…

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containing information regarding their intension to seek protection under
British law for wind up of the UK based activities, including the company that
has chartered Havila Phoenix.
After having finalized the project Havila Phoenix was engaged in at receipt of
the letter mentioned, Havila Shipping ASA has received no instructions regarding
further use of the vessel.
DeepOcean has, as a result of their activities, or lack of activities, ended up
in breach of contractual obligations, including payment default.
Havila Shipping ASA, today has, as a consequence, terminated the charterparty.
Further, Havila Shipping ASA has requested payment from DeepOcean Group Holding
BV in Netherland under the Parent Company Guarantee issued to fulfil the
chartering company’s contractual obligations.

As a consequence of the termination Havila Shipping ASA will immediately offer
the vessel to the market.

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

Kilde

TekBot · desember 11, 2020, 7:55am

Havila Shipping ASA: Terminering av kontrakten med DeepOcean for Havila Phoenix

Subseafartøyet Havila Phoenix har vært på oppdrag for DeepOcean siden 2013 under
en kontrakt med fast periode fram til mai 2023 med opsjoner for forlengelse.
DeepOcean varslet i brev datert 18.11.20 til Havila Shipping ASA at DeepOcean
…

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har intensjon om å søke beskyttelse under engelsk lov for avvikling av den
engelske delen av virksomheten, og dette omfatter også det selskapet som har
kontrahert Havila Phoenix.
Etter at Havila Phoenix avsluttet prosjektet fartøyet arbeidet på da varselet
ble mottatt, har Havila Shipping ASA ikke mottatt ytterligere instruksjoner for
bruk av fartøyet.
DeepOcean er i kraft av sine handlinger, eller som følge av mangel på
handlinger, i brudd med bestemmelser i certepartiet, herunder
betalingsmislighold.
Havila Shipping ASA har i dag tatt konsekvensen av at DeepOcean er i brudd med
bestemmelser i certepartiet og terminert certepartiet. I tillegg til varsel om
terminering av certepartiet har Havila Shipping ASA fremsatt krav under
morselskapsgaranti stillet av DeepOcean Group Holding BV i Nederland.

Som en konsekvens av terminering av kontrakten vil Havila Shipping ASA
umiddelbart tilby fartøyet for oppdrag i markedet.

Kontakter:
Adm dir Njål Sævik, +47 909 35 722
Finansdir Arne Johan Dale, +47 909 87 706

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Kilde

TekBot · desember 16, 2020, 7:59am

Havila Shipping ASA: Information to bondholders in Havi 04 and Havi 07

TekBot · desember 22, 2020, 10:22am

Finansiell kalender

TekBot · desember 28, 2020, 12:57pm

Renteregulering

TekBot · januar 5, 2021, 8:58am

Havila Shipping ASA: Deputy CEO leaves the company

TekBot · januar 6, 2021, 11:01am

Havila Shipping ASA: Settlement agreement with DeepOcean following contract termination

TekBot · januar 21, 2021, 12:31pm

Havila Shipping ASA: Kontrakt med Nexans Norway for Havila Phoenix

TekBot · februar 26, 2021, 2:30pm

Havila Shipping ASA: Fourth quarter 2020 Accounts / Preliminary Accounts 2020

Summary

The sharp fall in oil prices and the outbreak of the Covid-19 virus in the first
…

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quarter reduced the activity in the market in where the vessel operates. Despite
an increase in oil prices, there is still low demand for vessels. The market
situation has led to a further impairment charge of the value of the company’s
vessels in the fourth quarter.

The agreement on restructuring of the company’s debt was implemented on
30/06/20 and clarifies the company’s obligations to lenders for the period until
2024. The calculated effect of the agreements means that book equity is positive
at the end of 2nd quarter. The implementation effect of the agreement was
incorporated in the accounts for the second quarter.
Financial expenses in the accounts consist of a change in the calculated present
value of estimated debt service for the vessels during the agreement period.

Havila Shipping ASA achieved an operating income before depreciation of NOK
32.8 million in Q4 2020, compared with NOK 43.6 million in Q4 2019.

Total operating income was NOK 107.1 million in Q4 2020, compared with NOK
195.8 million in Q4 2019.

The group had as of 31/12/20 23 vessels operated from Fosnavåg, six for
external owners.

The group had 3 AHTS and 4 PSV vessels laid up at the end of Q4 2020.

The fleet utilization Q4 2020 was 81 % exclusive vessels in lay-up.

Result for 4 quarter 2020

Total operating income amounted to NOK 107.1 million (NOK 195.8 million).

Total operating expenses were NOK 74.3 million whereof NOK - 28.3 million is
provision for loss on receivables (NOK 152.2 million whereof NOK 30.7
million is provision for loss on receivables). Ordinary operating expenses
were NOK 102.6 million (NOK 121.4 million).

Operating profit before depreciation was NOK 74.3 million (NOK 43.6
million).

Depreciation was NOK 88.8 million (NOK 82.2 million).

Impairment charge of fixed assets was NOK 262 million (NOK 0).

Net financial items were NOK 234.0 million (NOK -32.1 million), whereof
unrealized agio gain was NOK 73.5 million (unrealized agio gain NOK 29.1
million), and value adjustment of debt was NOK 170.1 million (NOK 0).

The profit before tax was NOK -73.1 million (NOK -71.5 million).

Result 2020

Total operating income amounted to NOK 705.7 million (NOK 747.1 million).

Total operating expenses were NOK 452.3 million whereof NOK 73.2 million is
provision for loss on receivables (NOK 500.8 million whereof NOK 30.7
million is provision for loss on receivables). Ordinary operating expenses
amounts to NOK 452.3 million (NOK 470.1 million).

The operating profit before depreciation was NOK 180.2 million (NOK 246.3
million).

Depreciation was NOK 350.8 million (NOK 323.5 million).

Impairment charge of fixed assets was NOK 783.0 million (NOK 0).

Net financial items were NOK 2,112.5 million (NOK -240.1 million), whereof
unrealized agio gain was NOK 12.2 million (unrealized agio loss NOK 6.5
million) and value adjustment of debt related to the implementation effects
of the restructuring agreement with the company’s lenders was NOK 2,234.5
million (NOK 0).

The profit before tax was NOK 1,169.1 million (NOK -320.9 million).

Balance and liquidity per 31/12/20
Total current assets amounted to NOK 272.4 million on 31/12/20, whereof bank
deposits were NOK 106.5 million (of this NOK 5.0 million restricted withholding
tax). On 31/12/19, total current assets amounted to NOK 372.9 million, whereof
bank deposits amounted to NOK 101.0 million (of this NOK 4.9 million
restricted).
Net cash flow from operations was in 2020 NOK 134.5 million (NOK 95.0 million).
Cash flow from investing activities was NOK -52.1 million (NOK -55.7 million).
Payment of loan instalments and lease liabilities, and raising a covertible
shareholder loan constitute a net change from financing activities of NOK -60.3
million (NOK -22.5 million).

The book value of the fleet is NOK 1,906 million after impairment charge of NOK
783 million in 2020.
Total long-term debt recognized in the balance sheet was per 31/12/20 NOK
1,802.0 million, of which interest-bearing debt amounts to NOK 1,711.5 million
and non interest-bearing debt NOK 90.4 million.
As of 31/12/20, nominal value of interest-bearing debt was NOK 2,818.8 million,
and nominal value of non interest-bearing debt was NOK 1,278.2 million. Of
nominal interest-bearing debt 15.9 % 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 23 vessels,
14 PSV

Four owned externally

One owned 50% and not consolidated
5 AHTS
3 Subsea
1 RRV (bareboat)

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

Kilde

TekBot · februar 26, 2021, 2:30pm

Havila Shipping ASA: Regnskap for fjerde kvartal 2020/Foreløpig regnskap 2020

Sammendrag

Det sterke fallet i oljepris og utbruddet av Covid-19 viruset i første kvartal
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reduserte aktiviteten i markedet hvor fartøyene opereres. Til tross for økning
i oljepris er det fortsatt lav etterspørsel etter fartøy. Markedssituasjonen
har medført ytterligere nedskrivning av verdien av selskapets fartøy i fjerde
kvartal.

Avtalen om restrukturering av selskapets gjeld ble gjennomført 30.06.20 og
avklarer selskapets forpliktelser overfor långiverne for perioden ut 2024.
Implementeringseffekten av avtalen ble innarbeidet i regnskapet for andre
kvartal.

Finanskostnader i regnskapet består av endring i beregnet nåverdi av estimert
gjeldsbetjening for fartøyene i avtaleperioden.

Havila Shipping ASA hadde et resultat før avskrivninger på NOK 32,8 million
i 4. kvartal 2020, mot NOK 43,6 million i 4. kvartal 2019.

Totale inntekter var NOK 107,1 million i 4. kvartal 2020, mot NOK 195,8
million i 4. kvartal 2019.

Rederiet hadde pr. 31.12.20 23 fartøy som opereres fra Fosnavåg hvorav seks
for eksterne eiere.

Konsernet hadde 3 AHTS og 4 PSV fartøy i opplag ved utgangen av 4. kvartal
2020.

Flåteutnyttelsen i 4. kvartal 2020 var på 81 % eksklusive fartøy i opplag.

Resultat for 4. kvartal 2020

Totale inntekter var NOK 107,1 million (NOK 195,8 million).

Totale driftskostnader var på NOK 74,3 million hvorav NOK - 28,3 million er
avsetning tap på fordring. (NOK 152,2 million hvorav NOK 30,7 million er
avsetning for tap på fordring). Ordinære driftskostnader utgjør NOK 102,6
million (NOK 121,4 million).

Driftsresultat før avskrivninger ble NOK 74,3 million (NOK 43,6 million).

Avskrivninger var NOK 88,8 million (NOK 82,2 million).

Nedskrivning av varige driftsmidler var NOK 262 million (NOK 0).

Netto finansposter var NOK 234,0 million (NOK -32,1 million), hvorav
urealisert agio gevinst var NOK 73,5 million (urealisert agio gevinst NOK
29,1 million), og verdijustering lån var NOK 170,1 million (NOK 0).

Resultat før skatt ble NOK -73,1 million (NOK -71,5 million).

Resultat 2020

Totale inntekter var NOK 705,7 million (NOK 747,1 million).

Totale driftskostnader var på NOK 452,3 million hvorav NOK 73,2 million er
avsetning for tap på fordring (NOK 500,8 million hvorav NOK 30,7 million er
avsetning for tap på fordring). Ordinære driftskostnader utgjør NOK 452,3
million (NOK 470,1 million).

Driftsresultat før avskrivninger ble NOK 180,2 million (NOK 246,3 million).

Avskrivninger var NOK 350,8 million (NOK 323,5 million).

Nedskrivning av varige driftsmidler var NOK 783,0 million (NOK 0).

Netto finansposter var NOK 2 112,5 million (NOK -240,1 million), hvorav
urealisert agio gevinst var NOK 12,2 million (urealisert agio tap NOK 6,5
million) og verdijustering lån ved implementering av effekter av
restruktureringsavtalene med selskapets långivere var NOK 2 234,5 million
(NOK 0).

Resultat før skatt ble NOK 1 169,9 million (NOK -320,9 million).

Balanse og likviditet pr. 31.12.20
Sum omløpsmidler var NOK 272,4 million pr. 31.12.20, hvorav bankbeholdning
utgjorde NOK 106,5 million (herav NOK 5,0 million bundne skattetrekksmidler).
Pr. 31.12.19 var sum omløpsmidler NOK 372,9 million, hvorav bankbeholdning
utgjorde NOK 101,0 million (hvorav NOK 4,9 million bundne).
Netto kontantstrøm fra drift var i 2020 NOK 134,5 million (NOK 95,0 million).
Kontantstrøm fra investeringsaktiviteter var NOK -52,1 million (NOK -55,7
million). Betaling av avdrag lån og leieforpliktelser samt opptak av
konvertibelt aksjonærlån utgjør nettoendring fra finansieringsaktiviteter på NOK
-60,3 million (NOK -22,5 million).

Bokført verdi på flåten er NOK 1 906 million etter nedskrivning på NOK 783
million i 2020. Balanseført verdi av langsiktig gjeld var pr. 31.12.20 NOK
1 802,0 million, av dette utgjør rentebærende gjeld NOK 1 711,5 million og ikke
rentebærende gjeld NOK 90,4 million. Nominell verdi av rentebærende gjeld var
pr. 31.12.20 NOK 2 818,8 million, og nominell verdi av ikke rentebærende gjeld
var NOK 1 278,2 million. Av nominell rente-bærende gjeld er 15,9 % USD lån, mens
resterende lån er i NOK. Sikret gjeld er klassifisert som langsiktig gjeld,
bortsett fra kjente avdrag som klassifiseres som kortsiktig gjeld.

Flåte
Havila Shipping ASA driver 23 fartøyer,
14 PSV

Fire eiet eksternt

En eiet 50% og ikke konsolidert
5 AHTS
3 Subsea
1 RRV (Innleid)

Kontakter:
Adm dir Njål Sævik, +47 909 35 722
Finansdir Arne Johan Dale, +47 909 87 706

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Kilde

TekBot · mars 18, 2021, 8:00am

Havila Shipping ASA: Information to bondholders in Havi04 and Havi07

TekBot · mars 30, 2021, 8:06am

Renteregulering

TekBot · april 14, 2021, 10:05am

Havila Shipping ASA: Kontrakt for PSV fartøyet Havila Borg

TekBot · april 22, 2021, 8:43am

Havila Shipping ASA: Contract with Equinor Energy for the PSV Havila Clipper

TekBot · april 22, 2021, 5:19pm

Havila Shipping ASA: Approval of 2020 Annual accounts

TekBot · mai 3, 2021, 7:50am

Havila Shipping ASA: Forlengede kontrakter med Total DK for PSV fartøyene Havila Herøy og Havila Fanø

TekBot · mai 3, 2021, 10:46am

Havila Shipping (HAVI)

Havila Shipping ASA: Third quarter 2020 accounts

Havila Shipping ASA: Nye kontrakter med Equinor Energy AS for PSV fartøyene Havila Charisma og Havila Foresight

Havila Shipping ASA: Termination of charterparty with DeepOcean for Havila Phoenix

Havila Shipping ASA: Terminering av kontrakten med DeepOcean for Havila Phoenix

Havila Shipping ASA: Information to bondholders in Havi 04 and Havi 07

Finansiell kalender

Renteregulering

Havila Shipping ASA: Deputy CEO leaves the company

Havila Shipping ASA: Settlement agreement with DeepOcean following contract termination

Havila Shipping ASA: Kontrakt med Nexans Norway for Havila Phoenix

Havila Shipping ASA: Fourth quarter 2020 Accounts / Preliminary Accounts 2020

Havila Shipping ASA: Regnskap for fjerde kvartal 2020/Foreløpig regnskap 2020

Havila Shipping ASA: Information to bondholders in Havi04 and Havi07

Renteregulering

Havila Shipping ASA: Kontrakt for PSV fartøyet Havila Borg

Havila Shipping ASA: Contract with Equinor Energy for the PSV Havila Clipper

Havila Shipping ASA: Approval of 2020 Annual accounts

Havila Shipping ASA: Forlengede kontrakter med Total DK for PSV fartøyene Havila Herøy og Havila Fanø

Havila Shipping ASA: Notice of Annual General Meeting