Norwegian owner Klaveness Combination Carriers (KCC) is set to expand its fleet after signing a deal for three Cabu newbuild vessels in China. The Oslo-listed firm, with eight Cabu and eight Cleanbu combination carriers, has entered into a letter of intent with Jiangsu New Yangzi Shipbuilding to have the trio delivered in 2026.\u00a0<\/p>\n
The newbuilds come at $56.4m per vessel, with an estimated delivered cost including zero-emission readiness and costs for the shipyard supervision team, taking the price tag to $60.5m per unit.<\/p>\n
KCC said the newbuilds will position the company for predicted increased caustic soda import volumes to Australia as well as reaching its targets of a 45% reduction in carbon intensity by 2030 compared to its actual 2018 performance. When compared to earlier Cabu vessels built in 2001 and 2002, newbuild replacements are expected to have a 25 to 30% higher earnings capacity and around 35% reduced CO2 emissions due to improved cargo carrying capacity and lower fuel consumption.<\/p>\n
To partly finance the newbuilds, KCC has tapped ABG Sundal Collier, Clarksons Securities and DNB Markets with the intention of raising $50m via private placement of new shares. The company will finance the remaining equity through cash on the balance sheet and expects to secure around 60% of debt before delivery. The company\u2019s major shareholder, Rederiaksjeselskapet Torvald Klaveness, has pre-committed to subscribe for shares corresponding to its pro-rata shareholding of around 53.76%.\u00a0<\/p>\n