Klaveness Combination Carriers - Share Issue/Capital Change 2014

Klaveness orders vessels

A subsidiary of Klaveness Ship Holding AS, T.

Klaveness Shipping AS, has declared an option for the

construction of one 80,500 DWT combination carrier at

Zhejiang OuHua Shipbuilding Co. Ltd. in China. This

puts the total number of orders for combination

carrier at Zhejiang OuHua Shipbuilding Co. Ltd. in

China to three vessels. The third vessel is estimated

to be delivered in January 2017 and will be part of

the Cabu fleet of vessels.

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 resold the contract for one of the vessels to

an external party. The same party has also purchased

one of the sister vessels ordered by Klaveness in

2013. The building program now consists of 8 vessels,

whereof Klaveness owns two of the vessels, one with

delivery in 2015 and one with delivery in 2016.

For further information please contact:

Lasse Kristoffersen (CEO, Torvald Klaveness) +47

22526238

Rebekka Glasser Herlofsen (CFO, Torvald Klaveness)

+47 22526441

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