Torvald Klaveness’ financial result for 2018
The financial results of Torvald Klaveness improved in 2018 both due to somewhat improved underlying markets and a more optimal trading pattern and contract composition for the combination carriers. Earnings before tax (EBT) ended at USD 10.1 million and Torvald Klaveness maintained a high solidity and good liquidity also in 2018.
2018 has been an eventful year with focus on consolidating the combination carrier activities under one holding company, Klaveness Combination Carriers AS, and further develop the activities through raising external capital, registering the shares on N-OTC and growing the newbuilding program by three vessels. In addition, Klaveness has continued to invest in digital initiatives and has maintained its position as one of the leading Dry Bulk operators and pool managers.
The group, consisting of Rederiaksjeselskapet Torvald Klaveness and its subsidiaries, delivered the following consolidated financials for 2018: