Full asset utilization and the most fuel efficient solution secure premium earnings with downside protection

  • The Klaveness Combination Carriers switch between dry and wet cargoes and have hence two laden legs and limited ballast time. KCC can hence offer customers freight below that of standard bulk and tanker vessels, while at the same time secure considerably higher total round voyage earnings than standard vessels.

  • As ballast time is limited, less fuel is consumed per ton-mile of transported cargo, reducing the cost of freight and reducing the customers’ environmental footprint. I.e. higher fuel prices are positive for the combination carriers.

  • Historical earnings have consistently been 1.5-2 times higher than that of standard product tankers and dry bulk vessels while vessel operating cost are at par with that of standard product tankers.

  • Correlations between the three markets (dry bulk, product tanker and bunker) have historically been limited giving downside protection and reduced volatility in earnings.


The share

The shares are registered on N-OTC from 15 October 2018.



Ticker: KCC03 PRO

ISIN: NO0010779549
Amount: NOK 300 million
Coupon: 3M NIBOR + 5.25%
Final Maturity: 27 May 2021

Klaveness Combination Carriers (Bond Agreement)



Per 15 October 2018 the largest shareholders are Klaveness Ship Holding AS with 63.3% of the shares and EGD Shipholding AS with 21.6% of the shares. Klaveness Ship Holding AS has a listed bond on Nordic ABM. The total number of shareholders is 69 per the same date.


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