Cumbria Times
Weekend Edition
7:00 AM 19th April 2022

EU Sanctions Hit Havila Ship Building Programme

The extension of EU sanctions against Russian companies may soon affect Havila Voyages’ shipbuilding programme.

GTLK, owner of the leasing company in Hong Kong that has financed Havila Capella, is among the sanctioned companies.

Havila Voyages made the following statement: “(We) assume that the sanctions will prevent GTLK from carrying out the financing of (its) three remaining vessels being built at the Tersan shipyard in Turkey.

“We support sanctions against Russia…….and are now working to refinance Havila Capella to break all ties with sanctioned and Russian-owned companies”, said Havila Voyages CEO Bent Martini.

“Havila Capella is the only one of our ships financed and leased from GTLK. The remaining ones are owned by the Tersan shipyard until we take delivery of them.”

Martini says that the company has been working with alternative financing for some time.

“We have assessed what has now happened as a possible outcome and have for a period worked to find alternative financing for our coastal cruise ships”, he added.

“The ships at the Tersan shipyard are owned by the shipyard until delivery.

"The plan was to finance the ships through leasing agreements with GTLK Europe and GTLK Asia, two reputable companies in ship financing, but today's situation makes it impossible for us to use GTLK as a financing institution for our ships”.