Havyard Ship Technology (HST) has reached an agreement with clients and lenders that should help the embattled shipyard secure its future and complete its current orderbook.

"HST has now reached agreements with the shipowners who have vessels for outfitting at the shipyard, as well as GIEK [The Norwegian Export Credit Guarantee Agency] and involved banks, which ensures completion and delivery of such vessels," its parent Havyard Group said on Tuesday.