EGD joins Klaveness as partner in the combination carriers

EGD Shipholding AS joins Klaveness as partner in two combination carriers under construction in China. EGD Shipholding AS and a subsidiary of Klaveness Shipholding AS will own 50% each in the two vessels. The agreement includes possibilities for further co-investments, the company said in its press release.

The two 80,500 dwt vessels will be delivered from Ouhua Shipbuilding Co. Ltd. in November 2016 and January 2017, and will be employed in the Klaveness combination carrier pool. After delivery of the vessels the pool will count 9 vessels in total. The restructuring of the bank loan to incorporate the partner structure is in the process of being finalized.

About EGD:
EGD is a private owned company established in 1907 with a strategic focus on real estate and shipping investments. The fleet consists of 21 wholly and partly owned vessels mainly employed on long-term contracts or in pools.
About Torvald Klaveness:
Torvald Klaveness is a global shipping company operating around 150 vessels in the dry bulk and container markets with a strong presence within specialized dry bulk. Since the foundation of the company in 1946, growth has been achieved through seeking new and innovative ways of providing cost-efficient and predictable transportation services to customers.