RESULT FOR 2nd QUARTER 2012
Summary
- Havila Shipping ASA achieved a profit before tax of NOK -10.9m in Q2 2012, compared with NOK -52.8m in Q2 last year.
Year to date, the profit before tax was NOK -14.4m, compared with NOK -78.2m per 30/06/11.
- Total operating income and gains were NOK 353,7m in the Q2 of 2012. Total operating income and gains for corresponding period last year were NOK 298.5m.
Year to date, total operating income and gains were NOK 711.2m compared with NOK 608.1m per 30/06/2011, whereof NOK 51.4m was gain on sale of vessel. - The group had 28 vessels in operation per 30/06/2012. It also includes the vessel Seven Havila which is owned by the 50 % owned company Acergy Havila Limited where Subsea 7 leases the vessel through a bareboat contract. Four of the vessels are operated by the 50 % owned company in Singapore, Posh Havila Pte Ltd. Three vessels are still leased through a bareboat contract.
The spot market for offshore service vessels has in average been weaker during the second quarter than the first quarter. The utilisation was 93 % in Q2, with average day rates in line with the average market rates.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
