Havila Shipping ASA has agreed three-year firm contracts for two of its platform supply vessels with Neo Next + Energy E&P UK Limited, the company reported in industry press on 16 October 2026.
The agreements cover the PSVs Havila Fanø and Havila Herøy, and were disclosed by reports. Each contract runs for three years firm, taking employment through to September 2029, and both include three optional extensions of one year apiece.
The arrangements were described as being on market terms, signalling that commercial conditions reflect prevailing charter rates and standard industry clauses rather than unusual bespoke provisions. The use of market terms suggests neither party has sought departure from customary commercial practice in the region where Neo Next + Energy E&P UK Limited operates.
Contract duration and extension mechanics
Each charter is set to remain firm until September 2029 and offers three additional one-year optional periods thereafter, a structure that provides the charterer with continuity and the owner with potential medium-term visibility. Such staggered optionality is commonly used to balance the operator's need for flexibility with the owner’s interest in stable forward employment and revenue predictability.
Continuation of current employment
Havila Shipping indicated the new charters will follow directly on from the vessels’ existing employment, ensuring there will be no immediate gap between the current engagements and the new agreements. This direct succession maintains operational continuity for both vessels and reduces idle time that might otherwise arise between contracts.
The pairing of Havila Fanø and Havila Herøy under the same chartering counterparty simplifies scheduling for the charterer while providing the owner with the advantage of block employment, which can be administratively and commercially efficient for fleet managers. For Havila Shipping, securing multi-year work on two vessels at the same time strengthens near-term utilisation of the units named.
Sources published the notice on 16 October 2026, listing the contract terms and counterparties. The report is the basis for this account, which confines itself to the details disclosed in that item and does not speculate on rates, regional operations or further commercial arrangements not specified in the notice.
Editor profile