Integrated Annual Report for 2023

The Board of Directors of Havila Kystruten AS approved the accounts and annual report for 2023 on Thursday, April 25, which integrates financial and sustainability reporting. This is the company's first integrated annual and sustainability report. The report is attached below.

"Last year was characterized by extra costs and operational disturbances related to prolonged legal and licensing processes when our original lender was hit by sanctions. This also delayed the delivery of our last two ships," says CEO Bent Martini.

"Despite this, we had good booking numbers for the first two ships in 2023 and ended with an average occupancy of 64%. For 2024, we expect an average occupancy of up to 80%."

Havila Voyages’ ships in operation had an overall operational uptime of 99.5% for the year.

Significant reduction in emissions
Havila Voyages’ new and modern ships operate as plug-in hybrids, using liquefied natural gas (LNG) and large battery packs as power sources. The batteries can be charged while the ships are docked, allowing the company's ships to sail up to 4 hours at a time emission-free and silently.

In 2023, Havila Voyages reduced its CO2 emissions by 35% compared to the 2017 figures from the coastal route, i.e., ships on traditional fossil fuels. The local emissions, NOx and SOx, have been reduced by 90%.

"We are proud of the contribution we make to reduce the impact we have on the vulnerable areas we sail in every day. This is just the beginning, and we have great ambitions and goals for further emission reduction in the coming time," says Martini.

"Firstly, we plan to replace the natural gas with biogas (LBG). This will gradually reduce the CO2 emissions even more, and with only biogas in the tanks in addition to the batteries, we will become climate neutral with a CO2 reduction of 90%. We can do this without any changes to our ships. Then the plan is to switch to zero-emission fuel, such as hydrogen. The ships are also prepared for this."

When Havila Voyages started its operation, an ambitious goal was set to only produce 75 grams of food waste per passenger night. In 2023, they reached 58 grams, which is significantly lower than the industry standard.

"With our significant reduction in food waste on board our ships, we contribute to the environment, and there is an economic upside. The food on board is predominantly produced and supplied by Norwegian producers, and in addition to reflecting Norwegian food traditions, it is nutritious and tasty. I think we have succeeded in this, and we receive very positive feedback from our guests on the food concept and our focus on sustainability also in the hotel operations on board," concludes Martini.