Norway's Klaveness Combination Carriers (KCC) has sold its first ever vessel as it eyes a fleet renewal.
The Oslo-listed shipowner said the 72,600-dwt panamax-sized Cabu combination carrier Banasol (built 2001) will be delivered to an unnamed third-party in December.
Brokers put the sales price at around $13.7m, while VesselsValue assesses the ship as worth close to $15m.
The vessel, which operates in both dry and wet trades by carrying dry bulk and caustic soda, was one of three Cabus delivered to KCC in 2001 by Oshima Shipbuilding in Japan.
Another six have followed up to 2017. KCC then started taking delivery of its Cleanbus in 2019. The company has eight of these ships, which can carry dry bulk and oil products.
KCC said secondhand values for older panamax dry bulk vessels have increased by around 150% so far in 2021, representing an opportunity to sell the company's oldest ship and to start preparing for a renewal of the Cabu fleet.
Healthy gain
The deal will bring in a profit of about $6.5m.
"The concluded sale demonstrates attractive secondhand values in the standard markets for KCC's fleet and will support KCC's investor-friendly dividend policy going forward," said KCC chief executive Engebret Dahm.
"The sale further supports KCC's decarbonisation efforts by reducing average CO2 emissions and improving average trading efficiency of KCC's fleet," he added.
The CEO told TradeWinds the company is not currently in discussions to sell any other Cabu vessels.
The aim of the combination carriers is to eliminate ballast legs, cutting carbon dioxide output by up to 40% compared to conventional tankers and bulkers.
The vessels can also generate much bigger earnings as a result.
