Havila Shipping ASA

Share Issue/Capital Change • Mar 10, 2016

Havila Shipping ASA : Share capital reduction registered

Havila Shipping ASA : Share capital reduction registered

Fosnavåg, 10 March 2016

Reference is made to stock exchange announcement from Havila Shipping ASA

("Company") on 26 January 2016 regarding extraordinary general meeting held and

the resolution to reduce the share capital with NOK 362 155 188 from NOK

377 244 987.50 to NOK 15 089 799.50, by way of a reduction of the par value of

the shares from NOK 12.50 to NOK 0.50.

The creditor notification period expired on 9 March 2016, and the share capital

reduction has today been registered as completed in the Norwegian Register of

Business Enterprises.

The Company's new share capital is accordingly NOK 15 089 799.50, divided into

30 179 599 shares, each with a par value of NOK 0.50.

For further information, please contact:

Havila Shipping ASA:

Njål Sævik, CEO

Tel: +47 909 35 722

E-mail: njaal@havila.no

Arne Johan Dale, CFO

Tel: +47 909 87 706

E-mail: ajd@havila.no

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1993299]