Summary
· Havila Harmony entered directly into a 5-year contract against TS Marine 27. March, after ended a 80 days rebuilding at yard
· Havila Shipping ASA achieved a result before tax of NOK 27,7 mill, compared with NOK 36,9 mill in 1st quarter 2006
· Operating margin before depreciation (EBITDA) ended at 54% (NOK 51,3 mill), compared with 50%(NOK 65 mill) in 1Q 2006.
· Total income in this period ended at NOK 94,7 mill, against NOK 130, 4 mill in 2006. In this period, the number of vessel in operation is reduced from 18 to 9. The company has further 11 vessels under construction
· Liquid assets as per 31.03.07 were NOK 751, 5 mill
A strong spot market during 1st quarter led to a higher operating income than expected. Still high activity, combined with delays from yards and lack of capacity, will keep up a high rate-level through the year.
Contacts:
CEO Njål Sævik - tel. 909 35 722
CFO Nils Peter Skeide - tel. 915 30 965
