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Havila Shipping takes rate cut for contract extension

Havila Shipping takes rate cut for contract extension
Havila Shipping has accepted a rate cut on the chartering contract of a subsea vessel on hire to DeepOcean, in exchange for a contract extension.

The subsea vessel is the 13,400-bhp, 2009-built Havila Phoenix.

“The agreement reduces the payable dayrate for period in exchange for a contract extension,” Havila Shipping announced in a brief statement.

Details of the rate cut and contract extension were not disclosed due to confidentiality clauses.