Klaveness sells kamsarmax vessel

A subsidiary of Klaveness Ship Holding AS has sold the
kamsarmax vessel MV Bavang to Asian interests.
Klaveness took delivery of the vessel from the yard in
February 2016 and it was one out of an eight order
deal made in 2013/2014. Six of the orders have been
sold with a profit, while one order was cancelled.
After the sale, Klaveness no longer owns any standard
bulk vessels. "The vessel was a non-core investment
and in order to support the growth in our specialized
segments, we decided to sell the vessel", says CEO
Lasse Kristoffersen. The sale is not expected to have
any P&L effect.

About Torvald Klaveness:
Torvald Klaveness is a global shipping company
operating around 130 vessels in the dry bulk and
container markets with a strong presence within
specialized dry bulk. Since the foundation of the
company in 1946, growth has been achieved through
seeking new and innovative ways of providing cost-
efficient and predictable transportation services to
customers.

For further information, please contact:
Lasse Kristoffersen (CEO, Torvald Klaveness) +47
22526238