Annual Report and ESG Performance Report 2022: Concluding a record-breaking year with solid progress across KCC’s business
Oslo, 7 March 2023: Klaveness Combination Carriers ASA (“KCC”) releases its Annual Report and ESG Performance Report for 2022.
“2022 was a very profitable year for KCC with solid progress across KCC’s two business segments and supported by historically strong, but extremely volatile product tanker, dry bulk and energy markets. COVID-19 restrictions eased through the year, with positive effects for crew wellbeing and repatriation and vessel operations,” says CEO Engebret Dahm.
Profit after tax was USD 60.9 million for the year 2022, a record financial result.
After having relocated two CABU vessel from South America in Q2 2022, the CABU fleet was dedicated to KCC’s most efficient CABU trades to/from Australia for the remaining part of the year. With high caustic soda solution volumes and strong dry bulk markets for the first half of the year, the fleet delivered the highest TCE earnings since 2011.
2022 was the first year with the full CLEANBU fleet in service after taking delivery of the last of eight CLEANBU newbuilds in May 2021. The year in many ways represented a breakthrough for the CLEANBU business. The number of customers having chartered the vessels doubled from 2021 to 2022 and the trading efficiency of the CLEANBU fleet improved substantially with time in combination trade increasing from 66% in 2021 to 88% and ballast decreasing from 18% to 13% from 2021 to 2022.
Furthermore, KCC advanced well with its decarbonization efforts focused on efficiency improvements through every part of the business. After a successful trial in 2022, the first carbon pricing mechanism has been implemented into one freight contract with effect from 2023. Multiple energy and voyage efficiency measures were installed on all vessels and contracts were concluded for an innovative air lubrication system combined with a new shaft generator to be installed on two vessels during 2023. Average CO2 emission per vessel year improved by 5% from 2021 to 2022, while average carbon intensity (EEOI) improved by 7% from 2021.
Attached:
2022 Annual Report
2022 Annual Report ESEF-file
2022 ESG Performance Report
For further queries, please contact:
Engebret Dahm, CEO, Telephone +47 957 46 851
Liv Dyrnes, CFO, Telephone +47 976 60 561
About Klaveness Combination Carriers ASA:
KCC is the world leader in combination carriers, owning and operating eight CABU and eight CLEANBU combination carriers. KCC’s combination carriers are built for transportation of both wet and dry bulk cargoes, being operated in trades where the vessels efficiently combine dry and wet cargoes with minimum ballast. Through their high utilization and efficiency, the vessels emit up to 40% less CO2 per transported ton compared to standard tanker and dry bulk vessels in current and targeted combination trading patterns.
