Havila Shipping ASA achieved a result before tax of NOK 14 million in Q2 2008, compared with NOK 66.7 million in Q2 last year. Year to date the profit before tax are NOK 328.8 million, whereof NOK 311.8 million is profit from sale of assets, (NOK 94.4 million in the first half year of 2007 without profit from sale of assets).
As expected, the market for offshore service vessels was variable throughout the period. The company's platform supply vessels (PSVs) nonetheless achieved good contract rates and a high utilization ratio throughout the quarter. The company expects the high level of activity to continue in the period ahead. Demand for all types of vessel services is expected to remain high as a result of increased exploration and production activity in the oil and gas sector.
On July 2nd, the Board of Directors of Havila Shipping ASA decided to enter into a contract with Havyard Leirvik AS for building a large subsea construction vessel with new developed design, Havyard 860. The value of the contract will be approximately NOK 1.500 million including owner delivery of offshore cranes. Delivery is planned in spring 2011. The length of the vessel will be 160 meters, breath 28 meters with a cargo deck of 2.400 square meters. The vessel will have accommodation for 140 persons and will have moonpool, two offshore cranes and ROV-hangar.
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