Havila Shipping saw its revenue rise in the second quarter thanks to rising offshore vessel markets, but the Oslo-listed shipowner still sank into loss for the period.
The offshore vessel company reported revenue of NOK 205m ($19.4m) during the period, which was down from NOK 287m a year earlier, when the top line was bolstered by NOK 96.5m in asset sale gains.
Freight revenue jumped to NOK 195m from NOK 182m in the second quarter of 2022.
“The spot market for both anchor handling vessels and platform supply vessels has contributed to the increase in freight revenues in addition to higher revenues from contracts entered into,” Havila said.
But the company reported a bottom-line loss of NOK 5.44m, reversing a NOK 32.7m profit a year earlier.
That came as operating expenses jumped to NOK 108m from 97.6m, and the company recorded NOK 68m in financial costs, an improvement from NOK 102m a year earlier.
The quarterly loss was not deep enough to prevent a surge in first-half profits, which jumped to NOK 113m from NOK 16.5m in the openning six months of 2022.
