Havila Kystruten seeks alternative financing to replace Russia’s sanctioned GTLK

This was supposed to be a triumphant week for new Norweigian coastal voyage operator Havila Kystruten as it takes delivery of the second of four cruise ferries it is building in Turkey.

Instead, the company is rushing to find alternative financing to fund the quartet as EU sanctions force it to sever all ties with Russian lessor GTLK.

The company is one of two cruise operators that have found themselves at the short end of the sanctions stick following GTLK’s sanctioning by the EU on Friday 8 April.