Torvald Klaveness announces a historically strong performance for 2021 as net profits after taxes exceed USD 100 million. All business units delivered good results and the company sees a clear payoff from its strategic investments and initiatives.

CEO of Torvald Klaveness Lasse Kristoffersen commented, “I am very pleased that 2021 saw us utilize our unique platform to deliver significant customer value and profits. Strong markets helped, but most of all, this is due to the craftsmanship, curiosity, integrity and commitment of our team.”

Highlights:

• KCC improved trading efficiency and fleet capacity and delivered a record result in the company’s history, 25 MUSD was also successfully raised for a carbon emission reduction plan

• Klaveness Dry Bulk navigated a strong dry bulk market and achieved trading profits of USD 38.8 million. The company also maintained its position as the leading dry bulk pool in the world and returned market leading earnings to its participants

• Klaveness Digital reported record growth in 2021 with a doubling of annual recurring revenue

• Klaveness Container benefited from the soaring market and sold and delivered the entire fleet in 2021. This had a significant positive effect on results of USD 62.9 million for the year

• Klaveness Ship Management delivered progress on its strategic objectives of safer, greener and data smart and successfully secured management of new external vessels

• As part of Klaveness’ strategic investments in decarbonization, ZeroLab by Klaveness was established to explore commercial opportunities related to the decarbonization of shipping and supply chains

“Our strategy of making seaborne supply chains resilient, decarbonized, and cost effective has never been more relevant. The supply chain disruptions and market volatility our customers are now facing drives digital transformation and new solutions. Factoring in the increasing urgency to decarbonize, Klaveness is in a unique position to grow and develop in the years to come,” adds Kristoffersen.