Klaveness, EGD Partner Up on Two Newbuildings

Norwegian company Klaveness Shipholding and its compatriot EGD Shipholding have reached an agreement to partner in two combination Panamax bulk carriers currently under construction in China.

EGD Shipholding AS and a subsidiary of Klaveness Shipholding AS will own 50% each in the two 80,500 dwt vessels, being built by Chinese shipbuilder Zhejiang Ouhua Shipbuilding.

Scheduled for delivery in November 2016 and January 2017, the two vessels will be employed in the Klaveness combination carrier pool. After delivery of the vessels the pool will count 9 vessels in total.

The agreement includes possibilities for further co-investments, the parties said, adding that the restructuring of the bank loan to incorporate the partner structure is in the process of being finalized.

“The partnership is in line with our strategy to invest in specialized vessels and increase the scale of our combination carrier concept,” Lasse Kristoffersen, CEO of Torvald Klaveness, said.

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