Photo: MV Bangus; Image credit: Klaveness

Klaveness sells oldest vessel in fleet renewal push

Norway-based shipping company Klaveness Combination Carriers (KCC) has concluded a sale contract for its oldest vessel, a 2001-built Cabu ship as part of its fleet renewal policy.

As disclosed, the ship MV Banasol was sold as a dry bulk vessel to an unnamed buyer. The vessel is expected to be delivered to the new owner in December 2021. The sale will generate an estimated profit of $6.5 million and an estimated net cash effect of $10.6 million, recognized in the fourth quarter.

Furthermore, the company emphasized that Second-hand values for older Panamax dry bulk vessels have increased by around 150% to date in 2021, representing an opportunity to sell the oldest vessel in KCC’s fleet and to start preparing for a renewal of the CABU fleet.

“The concluded sale demonstrates attractive secondhand values in the standard markets for KCC’s fleet and will support KCC’s investor-friendly dividend policy going forward. The sale furthermore supports KCC’s decarbonization efforts by reducing average CO2 emission and improving average trading efficiency of KCC’s fleet,” stated the CEO of KCC, Engebret Dahm.

Besides operating a fleet of nine CABU vessels, Klaveness owns and operates eight CLEANBU ships, which are said to be the world’s most environmentally friendly deep-sea vessels. The CLEANBU carriers have been built to carry both wet and dry bulk cargoes. These vessels have up to 40% lower CO2 emissions per ton mile transported cargo compared to standard vessels, in line with IMO’s 2030 targets for shipping.

On May 25, the Norwegian shipowner took delivery of the MV Balzani from Chinese New Yangzi Shipyard, marking the completion of the CLEANBU newbuilding program.

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In September this year, Klaveness Combination Carriers also completed testing of 30% biofuel aboard its CLEANBU vessel MV Baru on its voyage from the Netherlands to Brazil as part of its decarbonisation strategy.

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