On Tuesday afternoon Turkish time, the Norwegian flag and the shipping company flag of Havila Voyages were finally raised on the coastal cruise ships HAVILA POLARIS and HAVILA POLLUX, which are located at the Tersan shipyard outside Yalova in Turkey.

"We have now reached our goal following a process that required a lot of time, resources, and perseverance. In particular, it has demanded a lot of patience from the Norwegian authorities with whom we have an agreement to operate, our customers, coastal communities, our partners, and all employees," says CEO Bent Martini.

"We remained confident we would reach this moment, even though we have encountered new challenges at every turn. Now that we finally possess our own beautiful and state-of-the-art coastal route ships with spacious cabins and a high level of comfort for everyone on board, it's a milestone for the shipping company."

HAVILA POLARIS is scheduled to start operations from Bergen on 17 August and will be the first to leave the Tersan Shipyard. Not long after, HAVILA POLLUX is planned to follow the same route before she starts operating from Bergen on 23 August.

Ownership of all ships
After Havila Voyages received the required licenses earlier this year to finance its coastal fleet and release the security the original financing partner had in the ships; they have been working hard to find the right financing partner for the shipping company.

"The four coastal route ships represent significant value, and we wanted to find a financing partner that would give us full ownership of our ships. We now own all our ships ourselves, and with that, we have succeeded in our goal in the refinancing process," says Martini.

He describes a legal process regarding the sanction issues that has been exceptionally demanding.

"We have sought solutions from various authorities and institutions to find a legal solution to the challenges we faced on 24 February last year. Significant resources have been used for legal assistance, and with the outcome in hand, we can say that we have gone through and succeeded in a process that is entirely unique on a global scale. We are not aware of others having found a similar solution, so this has been pioneering work all the way," says Martini.

"Now we choose to look ahead and do everything we can to make up for lost time."

Each of Havila Voyage’ ships are valued at approximately EUR 150 million, and the shipping company has financed the fleet by raising EUR 305 million from the investment firm HPS Investment Partners LLC. Additionally, the largest owners and investors of the shipping company have raised EUR 65 million in additional equity, and Havila Holding AS has contributed loan of EUR 20 million.

"We are satisfied with the solutions we have reached, and they provide us with the necessary flexibility and leeway we need to deliver as expected with our mission along the Norwegian coast," explains Martini.

Like their sister ships, HAVILA POLARIS and HAVILA POLLUX have energy-efficient hull designs created to handle the varied conditions along the Norwegian coast. The ships are equipped with a battery pack of 6.1 MWh, allowing them to operate emission-free for up to 4 hours. This means they can visit the UNESCO World Heritage area of Geirangerfjorden silently and emission-free, three years before the authorities' requirement for emission-free ferries and cruise ships in World Heritage fjords comes into effect.

The ships' propulsion is a hybrid solution, with a combination of the 86-ton battery packs and liquefied natural gas (LNG) providing the power. The battery packs can be charged while the ships are docked, using clean Norwegian power. This reduces CO2 emissions by up to 35% and local emissions (NOx and SOx) by 90% compared to equivalent ships running on traditional fossil fuels.

The ships are also designed, built, and prepared for emission-free fuel alternatives such as hydrogen and ammonia. With current technology, a gradual addition of biogas will further reduce CO2 emissions.

"We have the capability to operate in a carbon-neutral way today by using biogas as fuel in combination with the battery packs. It's a matter of access and cost, and now that we have finally completed a complicated refinancing, we can focus on finding a solution for transitioning to biogas," says Martini.

In addition to reduced emissions, some of the ships' features include heat recovery from sea and cooling water to warm up the ships and the water on board, as well as a food concept that includes ingredients from locally sourced producers. The onboard menu changes during the voyage to reflect the regions the coastal route ships sail through.