“Japan is like an iceberg – you only see the tip unless you're here!”
Reflecting on Klaveness Japan’s first year and what’s next
Image: Haruki Chua, General Manager, Klaveness Japan KK
When Torvald Klaveness opened the doors to its Tokyo office in April 2024, the aim was clear - deepen relationships in Japan’s unique and vital shipping market, while bringing the full strength of Klaveness’ freight and digital capabilities closer to the local business environment. One year on, General Manager Haruki Chua shares his reflections on what has been achieved — and what lies ahead.
Laying commercial foundations, step by step
“With our industrial customers, we have maintained cargo volumes with existing counterparts and started doing cargoes for two new ones,” Chua says. “Grain remains our largest market, but we are beginning to build a presence in petcoke.”
He explains that on the tonnage side, a big focus of the past year has been on awareness-building. “We’ve been very active introducing Klaveness’ full offering to shipowners here — from independent decision-making through our ‘Market Manager’ services in Klaveness Dry Bulk, to long-term asset management options such as five-year time charters.”
What sets Klaveness apart, Chua says, is not just the services offered, but how they are applied. ‘We try to understand each customer’s specific needs and tailor our approach, seeking new business models and opportunities that maximize earnings potential for shipowners and improve freight management for charterers. It’s about adding real value, not just moving cargo.”
While market conditions have not been favorable for Kamsarmax newbuilding projects, Chua says the groundwork has been laid. “We’ve spent time building the right relationships and believe we’re well positioned for when conditions improve.”
Digitally, there have been meaningful steps forward. Klaveness Japan has onboarded a new client to ‘Freight Optimizer’, a Software-as-a-Service (SaaS) solution for smarter freight decisions being commercialized by Klaveness Digital. In addition, Klaveness continues to be part of broader conversations on maritime digitalization, for example by participating in a panel the Smart Maritime Network Japan Conference this year, Chua adds.
Unique lessons from a unique market
Chua reflects that success in Japan depends on a long-term mindset and careful relationship-building. “Building a presence takes time — and it can go wrong very quickly if you’re not careful.” He emphasizes that consistency, humility, and listening carefully to counterpart needs are vital. “The importance of face-to-face engagement is crucial.”
He also notes that some external perceptions of the Japanese shipping market no longer hold true, in particular when it comes to digitalization. “Japan’s attitude toward digitalization is evolving quickly. There’s a real openness — especially if the value is clear and the delivery is thoughtful.”
This shift, he says, creates an opportunity for solutions like those offered by Klaveness Dry Bulk’s ‘Market Manager’ initiative and the SaaS solutions offered through Klaveness Digital to complement how business is traditionally done — helping clients make data-informed decisions while respecting existing workflows. “It’s about enhancing — not replacing — the human element.”
At the same time, Chua stresses the importance of patience. “Trust must be earned, and that happens through time, transparency, and showing that we are here to stay.”
Drawing on shared values and long-standing ties
“Klaveness has a long history in Japan,” Chua notes, “and as a company, our vision and values resonate strongly with how business is done here — an emphasis on long-term partnerships and shared success.”
This long-standing presence is reflected in Klaveness’ relationship with the Marubeni Corporation, which became an investor in Klaveness Dry Bulk following years of cooperation through the Baumarine by Maruklav Panamax pool. “That kind of partnership speaks to the trust that’s been developed over time,” Chua says.
Klaveness Japan is also an active member of the Norwegian Chamber of Commerce in Japan and continues to build ties across the media and trade community. “These connections matter. We’ve been fortunate to receive a warm welcome and a lot of support,” he adds.
The hidden depth of the Japanese market
“The Japanese market is like an iceberg,” Chua says. “The rest of the world only sees the tip. If you want to understand or participate in what lies beneath the surface, you need to be here — or be fully committed to staying connected.”
While many international players have had a head start in Japan with long-established operations, Chua sees Klaveness’ entry as a chance to bring something fresh — combining the company’s unique platform of freight and digital services with an existing foothold in the market and a deep respect for local ways of working.
“Our approach this first year has been to engage consistently and quietly, to earn our place. We’re here to build something sustainable — not to chase short-term wins.”
Looking to the future
“Expanding our office to keep up with the pace of our increasing activity in Japan will be a key focus,” Chua comments when asked what’s on horizon for year two. He notes that with industrial customers, a big focus for the near future will be on expanding volumes with existing counterparts and continuing to build new relationships. “We’ve made a good start thanks to support of clients and industry peers — but there’s still a lot to learn and be accomplished here.”
For Klaveness, the Tokyo office is just one part of the global picture — but it’s a strategically important one. As Klaveness continues to grow in Japan, the focus remains on developing solutions and partnerships that reflect our long-standing vision to improve the nature of shipping by creating innovative business models, meaningful client understanding, and making a long-term impact.
Judging by year one, the journey is only just beginning!
About Torvald Klaveness
Torvald Klaveness is a pioneering shipping company with a vision to improve the nature of shipping and a mission to make seaborne supply chains more resilient, decarbonized and cost-effective.
The company consists of a holding structure and three operating companies. Klaveness Holding executes active ownership of the existing portfolio of companies, drives new strategic investments and manages a portfolio of liquid financial investments.
Klaveness Combination Carriers actively participates in the transition to low-carbon shipping with its unique combination carrier concept. Klaveness Dry Bulk is a leading operator servicing the global dry bulk industry and manages the world’s largest Panamax pool. Klaveness Digital is responsible for the development and commercialization of digital services across all business units, including CargoValue, the world’s leading platform for managing seaborne supply chains, and our portfolio of freight decision support software. It also serves as a hub for innovation to test, validate and commercialize new ideas.
With over 75 years of experience, Klaveness operates approximately 75 vessels through offices in Oslo, Singapore, Manila, Dubai and Tokyo, employing around 155 people.
For more information about our company and activities, please visit www.klaveness.com and www.klavenessdigital.com.