Havila Shipping has returned to profit after sealing a refinancing agreement with banks and bondholders in dire offshore vessel markets.
The Norwegian shipowner pushed $420m of maturity and some repayments out to 2024 in June as the Saevik family maintained control through the issuing of a new convertible loan.
In the second quarter, Havila accounted for a NOK 2bn ($223m) gain due to the adjustment in the value of its borrowings.
