2021 October 19 17:44

Klaveness Combination Carriers sells a 21-years old CABU vessel

A subsidiary of Klaveness Combination Carriers ASA (“KCC”) has concluded a sale of the 2001-built CABU vessel, MV Banasol, as a dry bulk vessel, according to the company's release.

Second-hand values for older panamax dry bulk vessels have increased by around 150% to date in 2021, representing an opportunity to sell the oldest vessel in KCC’s fleet and to start preparing for a renewal of the CABU fleet. The vessel is expected to be delivered to the new owner in December 2021. The sale will generate an estimated profit of USD 6.5 million and an estimated net cash effect of USD 10.6 million, recognized in the fourth quarter.

About Klaveness Combination Carriers ASA:

KCC is the world leader in combination carriers, owning and operating nine CABU and eight CLEANBU vessels. KCC’s combination carriers are built for transportation of both wet and dry bulk cargoes, being operated in trades where the vessels efficiently combine dry and wet cargoes with minimum ballast. Through their high utilization and efficiency, the vessels emit up to 40% less CO2 per transported ton compared to standard tanker and dry bulk vessels in current and targeted combination trading patterns.