Havila books profit on the heels of approved rescue plan

A restructuring agreement helped turn offshore company Havila's full-year result into a profit. But earnings still show signs of a severely strained industry.

Photo: Norges Rederiforbund/Norwegian Shipowners' Association

Norwegian offshore shipping company Havila enters 2021 with a profit on the bottom line despite a strained offshore industry.

For the year as a whole, Havila's NOK 320.5 million (USD 37 million) deficit was turned into a profit of NOK 1.17 billion before tax in 2020. This result is booked despite a NOK 72.9 million deficit in the fourth quarter.

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