HAV Group: Ship design business to support vessel upgrade

2 March 2025 – HAV Group’s ship design business has been awarded a contract to provide design and engineering services for the upgrade of a previously designed vessel.

Several years after entering service, the undisclosed vessel will now be upgraded with the latest technology solutions to further boost its operational efficiency.

“To be able to contribute towards further enhancing the efficiency of this vessel, several years after we originally designed it, is a special moment for us,” says Richard Schofield, managing director of HAV Design.

HAV Group’s contract party is HAV Design, which is headquartered in Fosnavåg, Norway. A design and engineering services project of this complexity typically generates between NOK 10 and 20 million in revenue.

“Converting and refitting vessels have become a financially and operationally attractive opportunity for vessel owners. Besides newbuild vessels, this opens further market opportunities for our ship design business. Additionally, this contract positions HAV Design for further conversion and upgrade work and ensures improved utilisation of our design and engineering specialists,” says Gunnar Larsen, CEO of HAV Group.

(ENDS)

For further information, please contact: Gunnar Larsen, CEO gunnar.larsen@havgroup.no +47 901 05 694

About HAV Group | www.havgroup.no HAV Group and its subsidiaries (together: “HAV Group”) is an international provider of technology and services for maritime and marine industries. HAV Group has several decades of industry experience, in addition to special expertise in guiding the marine and maritime industries through the green shift and towards the goal of zero emissions. HAV Group ASA is listed on Euronext Growth under the ticker code HAV.