Norway's Havila Shipping is winding up its joint venture with shipowner POSH in Singapore.
It will sell the four vessels operated by the 50/50-owned company as part of its restructuring, which was largely completed on Tuesday.
The company also said it was launching a NOK 30m ($3.56m) repair issue after listing 1.17bn new shares in Oslo.
This offering is being made to facilitate equal treatment of shareholders following these private placements.
Icelandic
