Klaveness Combination Carriers

Regulatory Filings • Apr 24, 2019

Klaveness Combination Carriers ASA concludes the first contract of affreightment for its CLEANBU fleet

Klaveness Combination Carriers ASA concludes the first contract of affreightment for its CLEANBU fleet

KCC03 PRO: Oslo, 24 April 2019: A subsidiary of Klaveness Combination Carriers ASA (“KCC”) has signed a Contract of Affreightment (“COA”) with one of the leading Australian importers and distributers of clean petroleum products (“CPP”) for its new generation of combination carriers, the CLEANBUs. The COA covers multiple cargoes over a period of up to 12 months with commencement within 2nd quarter 2019.

KCC’s Managing Director Engebret Dahm comments: “The COA is an important milestone for the introduction of the CLEANBU vessels and the validation of the CLEANBU concept in the CPP market. KCC’s CLEANBU service to Australia will meet demands for a reliable and substantially more climate friendly solution for CPP transportation. Through its unique design and trading pattern, the CLEANBUs will secure a 30-40% reduction in CO2, SOx and NOx emissions compared to standard tankers.”

About Klaveness Combination Carriers ASA:

KCC is the world leader in combination carriers, owning and operating currently 9 CABU and 1 CLEANBU combination carriers with another 5 CLEANBU combination carriers on order for delivery in the period May 2019 - October 2020. 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. In wet mode the CABUs are designed to carry heavy liquid cargoes, such as caustic soda solution (“CSS”), while the CLEANBUs are designed to carry both CPP and CSS. KCC is a Norwegian public limited company with its shares registered on NOTC.

For questions please contact: Engebret Dahm, Managing Director, telephone +47 22 52 62 62