Havila Shipping ASA reported earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported total operating income of NOK 370.056 million compared to NOK 252.096 million a year ago. Operating profit before depreciation was NOK 159.3 million compared to NOK 34.37 million a year ago. Operating profit was NOK 101.15 million compared to operating loss of NOK 14.5 million a year ago. Loss before tax was NOK 8.8 million compared to loss before tax of NOK 105.23 million a year ago. Loss after tax was NOK 9.83 million compared to loss before tax of NOK 68.09 million a year ago. Loss distributed by controlling interest was NOK 12.06 million compared to loss distributed by controlling interest of NOK 67.02 million a year ago. EBITDA was NOK 172.32 million compared to NOK 35.67 million a year ago. For the full year, the company reported total operating income of NOK 1,287.67 million compared to NOK 1,045.74 million a year ago. Operating profit before depreciation was NOK 496.89 million compared to NOK 520.94 million a year ago. Operating profit was NOK 291.65 million compared to operating loss of NOK 340.65 million a year ago. Loss before tax was NOK 91.195 million compared to profit before tax of NOK 12.998 million a year ago. Loss after tax was NOK 126.5 million compared to loss before tax of NOK 9.02 million a year ago. Loss distributed by controlling interest was NOK 142.42 million compared to loss distributed by controlling interest of NOK 7.03 million a year ago. Net cash flow from operating activity was NOK 267.73 million compared to NOK 76.79 million a year ago. Book equity per share was NOK 85 compared to NOK 106 a year ago. EBITDA was NOK 547.47 million compared to NOK 522.24 million a year ago.