Havila concludes restructuring

Norwegian OSV firm Havila Shipping has completed its restructuring – a complex series of arrangements that has included the issuance of new shares and a couple of new convertible loans.

Moreover, eight ships have been identified as ‘non-core vessels’ and are to be sold off. 

The restructuring is intended to give Havila breathing room financially through to 2020. The company had skirted very close to bankruptcy last year.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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