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Klaveness turns a profit in all-time low dry bulk market

Norwegian Torvald Klaveness, which operates a fleet of around 120 vessels in dry bulk as well as some container ships, finished 2014 with a profit on the bottom line, as opposed to numerous other players in dry bulk.

Photo: Klaveness

Norwegian Torvald Klaveness, which mainly deals with dry bulk - but also has activities in container, combination vessels and self-unloaders - was able to stay on the positive side of the bottom line in a market that is described by many as brutal as well as a dreadful year for dry bulk shipowners.

In 2014, Torvald Klaveness achieved results after taxes of USD 9 million, which is actually a decline compared to the USD 25 million from 2013. The operational result (EBITDA) grew to USD 66 million from US 60 million in the previous year, according to the annual report.

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