Havila Shipping ASA: Second quarter 2025 accounts

Financial Performance - Freight revenues for Q2 2025 reached NOK 165.5 million, an increase of NOK 19.5 million compared to Q2 2024, and stable compared to the previous quarter [1] - Operating expenses in Q2 2025 were NOK 83.7 million, up NOK 9.2 million from Q2 2024, but down NOK 7.3 million from the previous quarter [1] - Profit before depreciation was NOK 91.3 million in Q2 2025, compared to NOK 78.4 million in Q2 2024 [7] - Profit before tax for Q2 2025 was NOK 8.7 million, an increase from NOK 4.0 million in Q2 2024 [7] - Total operating income for the first half of 2025 was NOK 347.5 million, compared to NOK 279.0 million in the same period last year [7] Fleet and Operations - As of June 30, 2025, the company operated 14 vessels, with a fleet utilization rate of 98.1% in Q2 2025 [2][10] - The company employed 398 seamen in Q2 2025, along with 12 man-years in administration [10] Balance Sheet and Liquidity - Total current assets as of June 30, 2025, amounted to NOK 316.1 million, with bank deposits of NOK 155.1 million [5] - Total long-term debt was NOK 538.9 million, including NOK 499.6 million from sister company Havila Finans AS [8] - The nominal value of interest-bearing debt was NOK 637.3 million, while non-interest-bearing debt was NOK 602.1 million as of June 30, 2025 [9]