Klaveness

Norwegian shipowner and operator Torvald Klaveness’ subsidiary Klaveness Combination Carriers (KCC) buys back bonds ahead of maturity in May 2021 for $14.6 million. Oslo-based Klaveness Combined Carriers (KCC) exercised its call option to redeem the bond. Originally, in December 2016, Klaveness Combination Carriers’ (KCC) majority shareholder Klaveness Ship Holding issued bonds of $32 million. In January 2020, Klaveness Combination Carriers (KCC) issued a new NOK 500 million senior unsecured bond that will mature in February 2025. In September 2020, Klaveness Combination Carriers (KCC) issued another NOK 200 million bonds. In July 2020, Klaveness Combination Carriers (KCC) borrowed $60 million to finance two extra Cleanbu new-buildings. Norwegian shipowner and operator Torvald Klaveness’ goal is to be carbon neutral by 2030. 15-October-2020

 

Oslo-based Klaveness Combined Carriers (KCC) strives to take delivery of new ships from the shipyard in China due to the coronavirus pandemic. In the first week of August, Jiangsu New Yangzijiang Shipbuilding delivered Cleanbu type vessel 83K DWT MV Baleen to Klaveness Combination Carriers (KCC). However, due to current coronavirus pandemic restrictions in China, Klaveness Combination Carriers (KCC) can not bring crew members to take delivery of MV Baleen at the shipyard. Klaveness Combination Carriers (KCC) has organized temporary Chinese crew members to steam the MV Baleen to South Korea to embark on crew members. MV Baleen is presumed to maiden voyage at the end of September 2020. MV Baleen is the fourth Cleanbu type vessel that was ordered and another four subsequent Cleanbu type vessels are anticipated to be delivered at the beginning of 2021. In Q2 2020, Klaveness Combination Carriers (KCC) reported a net profit of $8.3 million. In Q2 2020, Klaveness Combination Carriers (KCC) reported revenue of $25.5 million. Klaveness Combination Carriers (KCC) controlled Cabu ships generated earnings of $21,290 per day. Oslo listed Klaveness Combination Carriers (KCC) is paying a dividend of $0.03 per share. Despite the weak markets due to the coronavirus recession, Klaveness Combination Carriers (KCC) earnings outlook for the remaining part of 2020 is positive. Klaveness Combination Carriers (KCC) is supported by a secured contract of affreightment (CoA) contracts. 16-August-2020

 

Oslo-based Klaveness Combined Carriers (KCC) determined not to declare any of its 4 options for new Cleanbu ships at Jiangsu New Yangzijiang Shipbuilding in China. Cleanbu ship types are capable of shipping oil and dry bulk cargoes. Klaveness Combined Carriers (KCC) has switched their projects due to coronavirus recession. Klaveness Combined Carriers (KCC) has taken delivery of 3 Cleanbu ship already, and has 5 more on order. In Q1 2020, Klaveness Combined Carriers (KCC) earned average freight rates of $28K from Cleanbu ships. 28-May-2020

 

Since May 2019, Oslo-based Klaveness Combined Carriers (KCC) has been listed on Oslo Axess and the company has not been hurrying to be thoroughly listed on the Oslo Stock Exchange (OSE). CEO Lasse Kristoffersen led Klaveness Combined Carriers (KCC) has been receiving support from shareholders on Oslo Axess. Currently, Klaveness Combined Carriers’ shareholders:

  • 54% Klaveness Ship Holding
  • 18% EGD Shipholding
  • 5% Hundred Roses Corporation (Hong Kong)

Klaveness Combined Carriers’ first ship completed the switch from wet to dry in Argentina. MV Baru unloaded petroleum products in Argentina, later on, performed the washing and translation from tanker mode to dry bulk mode for loading grain. Currently, Klaveness Combined Carriers has a fleet of two (2) so-called Cleanbu combined carriers which can shift from wet to dry. Six (6) Cleanbu combined carriers will be delivered from Jiangsu New Yangzi Shipbuilding till Q1 2021. Currently traded 2019 built 83K DWT Cleanbu type MV Baru and MV Barracuda cost $48 million each. Klaveness Combined Carriers’ Cleanbu type ships can collect more freight than conventional ships. Klaveness Combined Carriers (KCC) has reported net revenue of $12 million in the Q2 2019. Klaveness Combined Carriers (KCC) anticipates significantly improved earnings both from the dry and wet markets in the near future. 2-September-2019

 

Klaveness Combination Carriers (KCC) controlled 2019 built 82K DWT MV Baru has performed switch from wet cargo to dry cargo. MV Baru transported petroleum products from India to Argentina. MV Baru discharged petroleum products in Argentina, later on, performed the washing and translation from tanker mode to dry bulk mode for loading grain. Klaveness Combination Carriers’ groundbreaking shift from tanker to bulk carrier mode decreases emissions and ballast time. Currently, MV Baru is en-route to Asia. In Argentina loading port, MV Baru passed all the stringent cleaning inspections. According to Klaveness Combination Carriers, CLEANBU type ships supplement practical trading with minimum ballast time, notable savings in fuel consumption, and emissions. According to Klaveness Combination Carriers calculations, CLEANBU type ship fuel savings are around 1,200 metric tonnes of bunkers. Currently, Klaveness Combination Carriers’ CLEANBU fleet consists of two (2) ships. 27-August-2019

 

Norwegian shipowner and operator Torvald Klaveness has withdrawn from chartering services in China. Torvald Klaveness’s Shanghai office will concentrate on operations and newbuilding supervision. Torvald Klaveness opened the Shanghai office in 2003. There will be no chartering staff at Torvald Klaveness’s Shanghai office. Torvald Klaveness determined to maintain the Chinese chartering market from the Singapore office. The operations department and new-building team will be serving at Torvald Klaveness’s Shanghai office. Torvald Klaveness’s new-building team will be controlling 7 new-building Cleanbu Combination Carriers for spin-off Klaveness Combination Carriers (KCC). 2-July-2019

 

China State Shipbuilding Corporation’s (CSSC) sister company Chengxi Shipyard accepted to pay $875K to the Norwegian ship owner and operator Torvald Klaveness in a London arbitration over deficiencies in a bulker carrier. Chengxi Shipyard would be remunerating the Torvald Klaveness for deficiencies associated with 2013 built 71K DWT self-unloader MV CSL Tarantau (ex MV Balto). In November 2015, MV CSL Tarantau (ex MV Balto) was sold to Canadian owner Canada Steamship Lines (CSL). In 2016, Norwegian ship owner and operator Torvald Klaveness inaugurated the arbitration procedure in London. Torvald Klaveness demanded compensations for deficiencies. All disputes in the London arbitration were suitably compensated. 27-June-2019

 

Norwegian shipowner and operator Torvald Klaveness’s subsidiary Klaveness Combination Carriers (KCC) announced 5 options for combination carriers in Chinese shipyard Jiangsu Yangzi Shipbuilding. Klaveness Combination Carriers (KCC) emphasized that new-building combination carriers can transport wet and dry bulk. CLEANBU type new ships will improve fuel savings. Klaveness Combination Carriers (KCC) noticed that CLEANBU type new ships are environmentally friendly ships. Klaveness Ship Holding owns 70% of the Klaveness Combination Carriers (KCC). 2-July-2018

 

Norwegian shipowner and operator Klaveness Ship Holding reported a $133K profit in Q2 2017. In 2017, Klaveness Ship Holding strengthened its balance sheet. Currently, Norwegian shipowner and operator Klaveness Ship Holding has a pool with 9 CABU ships. Klaveness Ship Holding also owns and operates 8 container ships between. 9-February-2018

 

Norwegian shipowner and operator Torvald Klaveness appointed Liv Dyrnes as new CFO (Chief Financial Officer) effective on 15 February 2017. Norwegian shipowner and operator Torvald Klaveness announced that Liv Dyrnes has been working with Torvald Klaveness for many years and has a robust perception of the business. 19-December-2016