Klaveness Combination Carriers

Capital/Financing Update • Apr 27, 2020

KCC: Concluding a 9-12 months time charter on one CLEANBU vessel

KCC: Concluding a 9-12 months time charter on one CLEANBU vessel

Oslo, 27 April 2020: Klaveness Combination Carriers ASA (“KCC”) increases forward bookings in the current strong tanker market with the conclusion of a 9-12 months time charter of one CLEANBU vessel with delivery from the middle of May 2020. With this latest time charter, KCC’s fixed-rate tanker market coverage increases to around 90% for 2nd quarter of 2020 and around 55% for 2nd half of 2020.

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.