Norwegian company Klaveness Combination Carriers (KCC) is going to list on the Oslo Stock Exchange in about a week, after the company completed raised NOK350m ($40.1m) through a private share placement.
The company said it expects the first day of trading to be on or about May 22.
“The successful private placement demonstrates the strong interest from investors in the unique KCC business model, despite turbulent capital markets over the last weeks. By listing the company on Oslo Stock Exchange we have reached a new milestone and the company is ready for further, profitable growth. KCC provides investors a unique exposure to both product tanker markets, dry bulk markets, the upcoming new regulations on low Sulphur fuel in 2020 and not least the most climate efficient deep sea transportation system today,” said Lasse Kristoffersen, chairman of KCC.
Additionally, KCC has declared two options for the construction of the seventh and eight Cleanbu combination carrier with Jiangsu New Yangzi Shipbuilding with deliveries scheduled in January and February 2021.
The latest two vessels will increase the KCC fleet to 17 vessels by the first quarter of 2021. The company also holds options for more vessels.
“We are pleased to grow the Cleanbu fleet further to eight vessels by early 2021 which will strengthen KCC’s service offering to the oil and petrochemical industry and enable the further expansion of the climate friendly Cleanbu service to new geographical markets. Through its unique design and trading pattern, the Cleanbus secure a 30-40% reduction in CO2, SOx and NOx emissions compared to standard tankers,” said Engebret Dahm, CEO of KCC.