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.