Havila Shipping ASA

Share Issue/Capital Change • Mar 1, 2017

Havila Shipping ASA: Listing of new shares and launch of subsequent offering

Havila Shipping ASA: Listing of new shares and launch of subsequent offering

Reference is made to Havila Shipping ASA's announcements on 28 February 2017

regarding the implementation of the restructuring and the approval by the

Norwegian Financial Supervisory Authority of a prospectus for the listing of new

shares issued in connection with two private placements (the "Private

Placements") and a subsequent offering of shares (the "Subsequent Offering").

As per today, 1 March 2017, a total of 1,177,004,400 new shares in the Company

will be listed on the Oslo Stock Exchange as a result of completion of the

Private Placements, which implies an increase in the number of listed shares

from 30,179,599 shares to 1,207,183,999 shares, each with a par value of NOK

0.01.

The Subsequent Offering comprises an offering to eligible shareholders of up to

240,000,000 new shares at a subscription price of NOK 0.125 per share. The

subscription period will commence on 6 March 2017 and expire on 20 March 2017.

The offering is made to facilitate equal treatment of shareholders following the

Private Placements in accordance with the Norwegian Securities Trading Act.

Further details will be announced prior to commencement of the subscription

period and are also included in the Prospectus.

The Subsequent Offering is managed by Swedbank and Fearnley Securities (the

"Managers").

Contacts:

CEO Njål Sævik, +47 909 35 722

CFO Arne Johan Dale, +47 909 87 706

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.