Klaveness Extends Shipping Deal with Arcelor Mittal

Norwegian shipping company Torvald Klaveness has extended its shipping agreement with Luxembourg-based steel and mining firm Arcelor Mittal.

Under the contract, Klaveness is to transport ten cargoes aboard a Panamax vessel from south America to the continent, and ten cargoes on Supramaxes from West Africa to the continent.

The deal, which represents a continuation of the parties’ long-lasting relationship, will see the company ship a total volume of 1.4 million tonnes of iron ore in 2018.

“We are proud that Arcelor Mittal share our concerns when it comes to considering the environments we operate in, work towards cutting emissions, and running their business in a more energy efficient way,” Klaveness said.

The deal comes on the back of a strengthened dry bulk market witnessed in 2017.

In addition to managing its own vessels, Klaveness acts as an operator and manages a portfolio of physical and financial contracts linked to the Panamax and Supramax dry bulk markets. Klaveness also offers commercial management through pools for external owners in the same segments.

The first substantial dry bulk market improvement came in April 2017 but vanished quickly and only from September the same year did markets experience a solid recovery.

Torvald Klaveness’ dry bulk activities generated a net revenue of USD 19 million in 2017, up from USD 11 million in 2016. The total number of operated dry bulk vessels was 129.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

Salvage & Wreck

Salvage and Wreck Removal Conference will focus on Casualty management case studies, Dealing with hazardous cargo and container ship fires…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >