Klaveness Combination Carriers - M&A Activity 2016

Klaveness sells kamsarmax vessel

A subsidiary of Klaveness Ship Holding AS has sold the

kamsarmax vessel MV Bavang to Asian interests.

Klaveness took delivery of the vessel from the yard in

February 2016 and it was one out of an eight order

deal made in 2013/2014. Six of the orders have been

sold with a profit, while one order was cancelled.

After the sale, Klaveness no longer owns any standard

bulk vessels. "The vessel was a non-core investment

and in order to support the growth in our specialized

segments, we decided to sell the vessel", says CEO

Lasse Kristoffersen. The sale is not expected to have

any P&L effect.

About Torvald Klaveness:

Torvald Klaveness is a global shipping company

operating around 130 vessels in the dry bulk and

container markets with a strong presence within

specialized dry bulk. Since the foundation of the

company in 1946, growth has been achieved through

seeking new and innovative ways of providing cost-

efficient and predictable transportation services to

customers.

For further information, please contact:

Lasse Kristoffersen (CEO, Torvald Klaveness) +47

22526238

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