Havila Shipping ASA

Termination of charterparty with DeepOcean for Havila Phoenix

The subsea vessel Havila Phoenix has since 2013 served DeepOcen, under a charterparty with firm period until May 2023 with further options.
On the 18 November 2020 Havila Shipping received a letter from DeepOcean containing information regarding their intension to seek protection under British law for wind up of the UK based activities, including the company that has chartered Havila Phoenix.
After having finalized the project Havila Phoenix was engaged in at receipt of the letter mentioned, Havila Shipping ASA has received no instructions regarding further use of the vessel.
DeepOcean has, as a result of their activities, or lack of activities, ended up in breach of contractual obligations, including payment default.
Havila Shipping ASA, today has, as a consequence, terminated the charterparty.  Further, Havila Shipping ASA has requested payment from DeepOcean Group Holding BV in Netherland under the Parent Company Guarantee issued to fulfil the chartering company’s contractual obligations.

As a consequence of the termination Havila Shipping ASA will immediately offer the vessel to the market.

Contacts:
CEO Njål Sævik, [phone]
CFO Arne Johan Dale, [phone]

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act