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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.

Lee Hong Liang, Asia Correspondent

July 19, 2016

1 Min Read

Kalyakan - stock.adobe.com

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.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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