Havila sheds second anchor handling pair from POSH JV

Norway’s shipowner Havila Shipping has entered into agreements for the sale of two of its anchor handling tug and supply (AHTS) vessels.

Havila said on Tuesday that the vessels in question were the POSH Vibrant and POSH Virtue.

According to the company, the vessels are expected to be delivered to the new owner during the first part of November.

The two vessels were previously operated by POSH Havila Pte Ltd, a 50-50 JV company between Havila and Singapore’s PACC Offshore Services Holdings (POSH). The company used to jointly operate four vessels, POSH Venture, POSH Viking, POSH Vibrant, and POSH Virtue. In its 2016 annual report, Havila announced that the JV company would be wound up and all four vessels sold as part of its restructuring plan. The POSH Viking was sold in September while the POSH Venture was sold in late April.

Following the sale of the second AHTS pair, Havila said the lenders and Havila Holding AS would exercise warrants through debt conversions into new shares corresponding to agreements decided by the general meeting on January 4. The company added that the number of shares would increase by approximately 124,200,000 up to approximately 1,891,000,000 shares following the sale.

“The sale will have a low impact on result and liquidity. The equity effect of the planned debt conversion was booked in the groups account through the restructuring on February 28, 2017, and the sale will cause minor equity adjustments,” the company said.

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply