Klaveness to Cooperate with Tufton Oceanic on Kamsarmax New Buildings

Klaveness has previously ordered two 82,000 dwt Kamsarmax vessels at YZJ shipyard in China with options. Klaveness has also negotiated a second program for additional Kamsarmax vessels at the same yard.

Klaveness has now ordered the two first vessels from the second program against a novation to a Tufton Oceanic managed entity as a buyer of these vessels. Klaveness will enter into a cooperation with Tufton Oceanic for joint supervision of the vessels.

With this transaction Klaveness has secured additional options as well as a potentially lower delivered cost resulting from a larger program.

Klaveness, November 19, 2013