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Havila Vessel Newbuilding Contract

Maritime Activity Reports, Inc.

February 26, 2008

Havila Shipping ASA has entered into a contract with Havyard Leirvik for building of a IRM vessel called Havyard 855. The vessel is developed by Havyard Maritime in close cooperation with Havila Shipping ASA.The vessel has a length of 97,5,4 m, breath of 19,8 m. In order to meet environmental and comfort demands in the future the vessel has; clean design class, catalysers, and DP 2. Delivery of the vessel will be during summer 2010, and the contract price is approx NOK 700 mill, included owner delivery of crane.

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