Dry CargoEurope

Klaveness Combination Carriers offloads its oldest ship

Norwegian owner Klaveness Combination Carriers (KCC) has sold its oldest vessel as it starts preparing for a renewal of its Cabu combi fleet.

Oslo-listed KCC has offloaded the 2001-built Cabu vessel, Banasol, as a dry bulk vessel to undisclosed buyers. Multiple brokers report the 72,600 dwt panamax bulker has been acquired by Chinese interests for around $13.7m. The vessel should deliver in December of this year.

KCC said that secondhand values for older panamax dry bulk vessels have increased by around 150% to date in 2021 and that the sale will generate a profit of $6.5m and a net cash effect of $10.6m, recognised in the fourth quarter.

“The concluded sale demonstrates attractive secondhand values in the standard markets for KCC’s fleet and will support KCC’s investor friendly dividend policy going forward. The sale furthermore supports KCC’s decarbonisation efforts by reducing average CO2 emission and improving average trading efficiency of KCC’s fleet,” commented Engebret Dahm the CEO of KCC.

Following the sale, Klaveness Combination Carriers fleet consists of eight specialised Cabu combination carriers and eight Cleanbu combination carriers.

Adis Ajdin

Adis is an experienced news reporter with a backgroud in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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