Klaveness Combination Carriers

Business and Financial Review • Apr 16, 2020

Klaveness Combination Carriers ASA continues to increase tanker market coverage in a strong tanker market

Klaveness Combination Carriers ASA continues to increase tanker market coverage in a strong tanker market

Oslo, 16 April 2020: Klaveness Combination Carriers ASA (“KCC”) capitalizes on the current strong tanker market to further increase its tanker market coverage. A second CLEANBU vessel has been fixed on a 3-6 months T/C for delivery within April. Including this T/C fixture, KCC’s fixed-rate tanker market coverage increases to around 85% for 2nd quarter of 2020 and close to 40% for 2nd half of 2020. With solid contract coverage, a strong financial position and flexible vessels suitable for both the wet and dry markets KCC is well prepared for potential negative effects from the ongoing COVID-19 situation.

For further queries, please contact:

Engebret Dahm, CEO Telephone +47 22 52 62 62

About Klaveness Combination Carriers ASA:

KCC is the world leader in combination carriers, owning and operating nine CABU and three CLEANBU combination carriers with another five CLEANBU combination carriers on order for scheduled delivery in the period 2020 - 2021. KCC’s combination carriers are built for transportation of both wet and dry bulk cargoes, being operated in trades where the vessels efficiently combine dry and wet cargoes with minimum ballast. Through their high utilization and efficiency, the vessels emit up to 40% less CO2 per transported ton compared to standard tanker and dry bulk vessels in current and targeted combination trading patterns.