Deficit for the fourth quarter was NOK 123.5m ($15.9m) compared to NOK 51.3m in Q4 2013.
As a result, profit for the full year stood at NOK 2.3m, down from NOK 13.5m in 2013.
Operating expenses during 2014 went up from NOK 760m to NOK 836.3m.
During the fourth quarter, Havila repaid a NOK 300m bond loan.
In its financial statement, the Oslo-listed company says the slowdown was expected following a good October and a weaker November in the spot market.
As
