November 28, 2022


Current Maritime News | Clean Energy

KCC sold the oldest vessel in its fleet and prepare to renew CABU Fleet

2 min read

MV Baru on Maiden Voyage - Source KCC

Norway-based shipping company Klaveness Combination Carriers (KCC) has successfully dealt a sale contract for its oldest vessel as part of its fleet renewal policy. The CABU ship was built in 2001

According to KCC, MV Banasol was sold as a dry bulk vessel to an unnamed buyer. The vessel is expected to be delivered to the new owner in December 2021.

The company emphasized that the value of second-hand Panamax dry bulk vessels has increased 150% in 2021. The sale will generate an estimated profit of $6.5 million and an estimated net cash effect of $10.6 million, recognized in the fourth quarter.

This is also an opportunity to sell the oldest vessel in KCC’s fleet and to start preparing for a renewal of the CABU fleet.

“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 decarbonization efforts by reducing average CO2 emission and improving average trading efficiency of KCC’s fleet,” stated the CEO of KCC, Engebret Dahm.

On May 25, the Norwegian shipowner took delivery of the MV Balzani from Chinese New Yangzi Shipyard, marking the completion of the CLEANBU newbuilding program.

Besides operating a fleet of nine CABU vessels, Klaveness owns and operates eight CLEANBU ships, which are said to be the world’s most environmentally friendly deep-sea vessels.

The CABUs are from 72 500 DWT up to 80 500 DWT and have capacity to transport caustic soda solution (CSS), floating fertilizer (UAN) and molasses as well as all types of dry bulk commodities.

The CLEANBUs are 82 500 DWT and are both full fledged LR1 product tankers and kamsarmax bulk carriers transporting clean petroleum products (CPP), heavy liquid cargoes as CSS as well as all types of dry bulk products.

Source Offshore-energy

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