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The battle for Havila's assets has begun

Offshore carrier Havila has just closed a deal with its bank, and now the bond holders demand to take over and divest a vessel, according to Maritme.no.

After a long process of restructuring for Norwegian Havila Shipping, where the banks accepted a postponement of interest payments and loan installments while the carrier negotiates with the bond holders, the latter would now rather take over and divest one of the vessels which is still on the water anyway, writes Norwegian media Maritime.no.

The vessel concerned is Havila Subsea, delivered in 2011 and which also serves as collateral on a loan of almost USD 56 million. The ship has been without a contract since the turn of the year and the bond holders - led by head administrator of the asset manager Alfred Berg, Tom Hestnes - want to take over the vessel as they claim that Havila Shipping has violated the terms of the loan. The bond holders want to sell the vessel to generate cash for the bond holders, which have previously voted against part of the restructuring plan.

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