Klaveness Combination Carriers

Klaveness orders specialized vessels

A subsidiary of Klaveness Ship Holding AS has entered

into a contract with Zhejiang OuHua Shipbuilding Co.

Ltd. in China for an order of two 80,500 DWT

combination carriers. The vessels are estimated to be

delivered in the second and third quarter of 2016 and

will be part of the Cabu fleet of vessels. The

contract includes options for further vessels. The

Cabu fleet operates in the Pacific Ocean carrying a

combination of wet and dry cargoes. An existing

partner of Klaveness is likely to co-invest in one

vessel.

Klaveness has further declared an option for the

construction of two 82,000 dwt Kamsarmax vessels at

Jiangsu Yangzijiang Shipbuilding Co. Ltd. in China

and has novated the contract to a Tufton Oceanic

managed entity. Klaveness and Tufton Oceanic have

entered into a cooperation for joint supervision of

the Kamsarmax vessels to be constructed at this yard.

The joint program now consists of six vessels.

Klaveness has additional options at the same yard.

For further information please contact:

Lasse Kristoffersen (CEO, Torvald Klaveness) +47

22526238

Rebekka Glasser Herlofsen (CFO, Torvald Klaveness)

+47 22526441

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