E.U. Russia Sanctions Hit Havila Voyages’ Ships

The recent European Union sanctions against Russian companies have hit GTLK, the Russian-owned, Hong Kong-based leasing company that has financed Havila VoyagesHavila Capella. The line believes the sanctions will prevent GTLK from carrying out the financing of the three remaining vessels being built at Turkey’s Tersan Shipyard. That shipyard owns the remaining ships until Havila Voyages takes delivery of them.

Havila Voyages CEO Bent Martini said the company supported the sanctions and is now working to refinance Havila Capella. “We have worked to find alternative financing for our coastal cruise ships.” He added, “It is difficult to say when new financing [will be] in place, but the company is well underway with the work.” In addition, it will need to secure financing in order to receive its additional ships being built by the Tersan Shipyard. 

Havila Capella is approved by Norwegian authorities and satisfies all requirements in the Norwegian Maritime Act. While it has paid rent to a Russian-owned company, the ship is Norwegian for all practical purposes.

In the short term, Havila Voyages plans to take delivery of its second ship, Havila Castor, within a week. It is scheduled to begin operations on May 10 from Bergen. Havila Voyages sails the classic coastal voyage between Bergen and Kirkenes with some of the Norwegian coast’s most environmentally friendly ships. To note: The four new ships are equipped with the world’s largest battery pack, and can sail for four hours without noise or emissions through vulnerable fjords. The batteries are charged with clean hydropower at shore, and when the batteries are low, the ships switch to natural gas, which cuts CO2 by around 25 percent.

For more information, visit www.havilavoyages.com.

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