by Luca Casiraghi (Bloomberg) Havila Shipping ASA avoided a potential bankruptcy filing, after bondholders accepted a debt-restructuring deal hours before a company deadline. The Norwegian operator of oil-rig support vessels won support from holders of two-thirds of its bonds, according to a statement. The company said last week it would probably seek court protection if … [Read more...]
Havila Shipping Avoids Bankruptcy with Last Minute Deal
Norway-based offshore services company Havila Shipping says it has reached a last minute deal with all stakeholders, avoiding bankruptcy. Havila announced Monday that it has received support from more than 2/3 of the outstanding bonds across all bond issues. The support comes after a Nov. 24 stock exchange notice announcing that Havila Shipping's Board of Directors had … [Read more...]
Havila Shipping Sets Nov. 28 Deadline to Avoid Bankruptcy
Norway-based offshore services company Havila Shipping has set Monday, Nov. 28 as the deadline to avoid bankruptcy. Here's the rundown from Reuters: Nov 24 (Reuters) - Havila Shipping ASA : * Has received notice from secured bank lenders collectively that they intend to accelerate relevant facilities, and proceed with formal acceleration notices imminently * Has … [Read more...]
Havila Shipping Sells Platform Supply Vessel to Fish Farmer
Norwegian offshore shipowner Havila Shipping has agreed to sell its platform supply vessel Havila Princess to fish farmer Bakkafrost for use in the aquafarming industry. Faroe Islands-based Bakkafrost plans to convert the offshore services vessel for a range of services within its offshore fish farming business. The Havila Princess was built in 2005, is equipped with … [Read more...]
Havila Shipping’s Debt Plan Fails to Gain Support
By Luca Casiraghi (Bloomberg) -- Havila Shipping ASA said it has so far failed to get enough support from bondholders to postpone repayments on 5.7 billion kroner ($647 million) of debt. The Norwegian operator of oil-rig support vessels canceled a meeting with bondholders scheduled for Wednesday as it seeks further talks to reach an agreement with bond creditors by the … [Read more...]
Havila Shipping Lays-Up Anchor Handling Tugs
Norwegian offshore vessel owner Havila Shipping ASA says it has decided to lay up two anchor handling tugs (AHTS) amid weakened demand for offshore vessels driven by low oil prices. The vessels impacted are the Havila Mars and Havila Neptune. Havila Shipping says the lay ups will lead to layoffs for the crew of the vessels. "The decision is made as a consequence … [Read more...]
The Upgraded Havila Phoenix Will Have Serious Subsea Capability
Lowering manifolds, trees, subsea processing equipment, and other items to the sea floor is pretty standard stuff in the subsea installation business, but what isn't so standard, is subsea trenching. After pipelines are laid down on the sea floor, either to perhaps connect wells together within a subsea development or a flowline to shore, these pipes are sometimes buried so … [Read more...]