Torvald Klaveness Annual Report 2022
Image: Ernst Meyer, President and CEO, Torvald Klaveness
Torvald Klaveness is pleased to announce a historically strong financial performance for 2022 as net profits after taxes from daily operations exceed USD 65 million.
CEO of Torvald Klaveness Ernst Meyer commented: “Our investments in people and establishing data-driven approaches to our operations are starting to pay off and 2022 goes into the history books as our strongest year operationally for the past decade. We increased our customer base, and the flexibility of our unique platform allowed us to navigate the dry and wet markets at the right time to capitalize on the best of both.”
Highlights:
Klaveness Combination Carriers ASA (KCC) achieved a record high financial result. The CABU fleet delivered the highest time charter earnings since 2011 on the back of high caustic soda solution volumes, a strong dry bulk market in the first half of the year and strengthening fuel prices through the year. The CLEANBU fleet continued to expand the number of customers and trades in its first year with a full fleet in operation. As a result, the CLEANBU fleet’s trading efficiency improved substantially, increasing the share of days in combination trades and reducing time in ballast.
Klaveness Ship Management (KSM) delivered safe operations to the combination carriers with zero injuries, spills, navigational or security incidents.
Klaveness Dry Bulk achieved trading profits of USD 20 million in an extremely volatile dry bulk market. The team have managed to secure such result through agile trading models and close client value creation for both industrials and shipowners, while harnessing the power of advanced data and analytics in their platform, Market Manager, which is now commercially available and experiencing growing customer interest.
Klaveness Digital secured a 100% customer renewal rate and reported a 40% increase in annual recurring revenue (ARR) for its software solution CargoValue. The platform also expanded into new industry verticals and launched an emissions monitoring tool together with ZeroLab by Klaveness, attracting interest from several new customers.
Meyer adds: “Our outlook is bright, but it is important that we are prepared for what lies ahead and will pay close attention to future fuels, investments in energy efficiency, and value creation through digital means to continue making supply chains more effective.”
For more information, please contact:
Daniel Middleton, Head of Corporate Communications
Ernst Meyer, CEO
Tel: +47 22 52 60 00
Email: communications@klaveness.com
About Klaveness
Torvald Klaveness is a pioneering shipping company with the vision to improve the nature of shipping and the ambition to make seaborne supply chains resilient, decarbonized, and cost-effective. The group today consists of five business units; through Klaveness Combination Carriers, the company takes an active part in the transition to low-carbon shipping with the unique concept of combination carriers. Our Dry Bulk unit is a leading operator and service provider to the global dry bulk industry and manages the world’s largest Panamax Pool. Klaveness Ship Management manages the owned vessels from an environmental, technical, and commercial standpoint. Klaveness Digital has developed the world’s leading platform for managing seaborne supply chains. Our newest venture, ZeroLab by Klaveness, is developing several initiatives to make low-and zero emission options available to our customers.
With over 75 years’ experience, Klaveness operates close to 100 vessels through offices in Oslo, Singapore, Manila, and Dubai with around 200 employees onshore and close to 850 seafarers.