A pioneering, data-driven shipping company

 


 
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Vision and values

At the core of Torvald Klaveness are the values we live by and the vision we pursue. Our vision is to improve the nature of shipping. Our legacy is to challenge status quo, and much of our success has been, and is linked to finding new ways to improve technology and business models in shipping.

The vision provides direction and guiding along three dimensions:

 

IMPROVING
We always look for new solutions

NATURE
Our ambition is to improve the very nature of the business we are in

SHIPPING
Shipping is our market and where we can make a difference

 

Our values define what we stand for and what you can expect from us.

 
 
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Craftsmanship

We know our business in detail:

  • Constantly update and renew competence

  • Deliver as promised

  • Build and contribute to teams

  • Keep it simple

 
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Integrity

We act on our principles

  • Ethics before profits

  • Be honest

  • Express your concerns

  • Address problems

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Commitment

We see through cycles

  • See lasting solutions

  • Never bet the company

  • Support the customer

  • Never give up

 
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Curiosity

We challenge established thinking

  • Ask questions

  • Look for new solutions

  • Share with and build on insights of others

  • Try a little, learn a lot

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Commitment to compliance

Klaveness’ vision is to improve the nature of shipping and our ambition is to contribute to developing the standard for compliance in our industry.  

Klaveness Code of Conduct

Our Code of Conduct defines our core legal and ethical standards and applies to all Klaveness directors, officers and employees, both on shore and on board our vessels. The code provides a framework for Klaveness’ governance, and defines the most important principles and ethical norms that form the basis for how we create value in Klaveness and conduct our business. These principles and values are implemented in our governance documents.

Klaveness Counterparty Code of Conduct

Our Counterparty Code of Conduct defines the core legal and ethical standards we expect from our subcontractors, contractual counterparties and others we do business with. The code applies to all our contractual relationships through standard documents and clauses.

 
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Membership in the Maritime Anti-Corruption Network (MACN)

The Maritime Anti-Corruption Network is a global business network working towards the vision of a maritime industry free of corruption that enables fair trade to the benefit of society at large.

Klaveness was among the founding members in 2011 and was actively involved in the formalisation process in 2012. MACN and its members promote good corporate practice in the maritime industry for tackling bribes, facilitation payments and other forms of corruption. The members are vessel owners and other companies in the maritime industry including cargo owners and service providers.

As of 2019 the Network has more than 100 members and has become one of the pre-eminent examples of collective action to tackle corruption.

 
 

Corporate governance

Klaveness believes transparent and good corporate governance drives value creation through aligning stakeholder as well as company interests.

The main governance structure and principles are as follows:

  • Trond Harald Klaveness is the main shareholder of the company, and chairman of Rederiaksjeselskapet Torvald Klaveness (RASTK). The board of directors also comprises independent representatives with extensive corporate experience. Current board members are Christian Rynning-Tønnesen, Tellef Thorleifsson and Christian Andersen.

  • Lasse Kristoffersen is the President and CEO of Torvald Klaveness, and heads up the corporate management team of six executives. He has no ties to the Klaveness family, but holds a minority ownership share in RASTK.

  • Risk management and compliance is an integral part of our business. We have a corporate risk management unit with the responsibility to identify and mitigate business and financial risks. In addition, we have a Chief Compliance Officer responsible for development, implementation and follow-up of our compliance program.

  • We operate under a Code of Conduct that is accepted in writing by each employee, officer and director.

 
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Management team

 
 

Lasse Kristoffersen
Chief Executive Officer and Head of Dry Bulk

Liv Hege Dyrnes
Chief Financial Officer

Ernst André Meyer
Chief Operating Officer

 
 

Engebret Dahm
CEO Klaveness Combination Carriers ASA

Morten Skedsmo
Head of Container Shipping

Aleksander Stensby
Managing Director Klaveness Digital

 
 

Board of Directors

 
 

Trond Harald Klaveness
Chairman of the Board

Christian Andersen
Board member

Christian Rynning-Tønnesen
Board member

Tellef Thorleifsson
Board member

 
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Our history

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Financial information

Figures in USD Million 2018 2017 2016 2015
Profit and loss account
Gross operating revenue 1)317327262389
Gain from sale fixed assets32
EBITDA 1)37284452
Profit/(loss) after tax (incl. minority interests)6-6-58-22
Profit/(loss) after tax (excl. minority interests)4-6-50-21
Balance Sheet
Total assets590561556723
Total equity (incl. minority interests)318260261313
Total equity (excl. minority interests)250238244294
Interest-bearing debt171178197310
Cash and cash equivalents124107151123
Cash flow from investing activities
Investments in vessels and newbuilding contracts29438732
Equity ratios
Equity ratio (excl. minority interests)42%42%44%41%
Equity ratio (incl. minority interests)56%46%47%43%
Employees
Number of employees onshore 2)168157166163
Vessels 3)
Pool vessels29354653
Klaveness Chartering – chartered vessels67967664
Combination carriers (incl. MV Baru)9986
Selfunloader vessels5
Container vessels8888
Vessels under construction6347

1) Income/loss from physical and financial freight
2) Number of employees at year-end for Oslo, Singapore, Shanghai, Rio de Janeiro and Manila
3) Per year-end. Vessels hired in on spot voyages are not included

 
 

Financial reports

 
 

2018

Torvald Klaveness
Annual Report

2017

Torvald Klaveness
Annual Report

2016

Torvald Klaveness
Annual Report

 
 
 

2015

Torvald Klaveness
Annual Report

2014

Torvald Klaveness
Annual Report (web)
Accounts

2013

Torvald Klaveness
Annual Report (web)
Accounts

 
 
 

2012

Torvald Klaveness
Annual Report
Accounts

 
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