Norwegian Havila Shipping Q2 '09 pretax profit rises to NOK114m

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jul 2009

Norwegian company Havila Shipping ASA (OSL: HAVI) said yesterday its pretax profit jumped to NOK114m in the second quarter of 2009 from NOK14m a year earlier. The company's operating profit surged to NOK103m in April-June 2009 from NOK39m in the same period of 2008. Operating revenue rose to NOK250m from NOK158m.
Havila shipping had net financial revenue in the quarter of NOK8m, versus a negative item of NOK24m year earlier. The net financial items were positive in the reporting period due to unrealised agio on debt in foreign currency.
The fleet utilisation was 95% in Norway in the second quarter of 2009.
The shipping company expects activity level to improve somewhat in the third quarter. Higher subsea activity will lead to increased need for specialised vessels for this type of operations. More stringent rules on tonnage, emissions and specialised competence will be key factors in the future, according to Havila Shipping.

Source: Trading markets