Private companies controlled by Klaveness Marine boss Jon Christian Syvertsen have reported a profitable 2019.
His investment companies, Adrian & Co and Syneco, logged a combined profit of NOK 20m ($2.3m) last year, in addition to issuing an extraordinary dividend of NOK 12m, according to a filing.
“I am clearly happy about the results also for 2019,” Syvertsen told the Norwegian financial daily Finansavisen.
The companies' portfolio is largely made up of real estate investments with long-term contracts.
On the shipping side, the investments are primarily large minority stakes in large LNG ships that are part of the Knutsen OAS Shipping fleet. The vessels are are also chartered out on long-term deals.
Ness, Risan & Partners partner Christian Frederik Ness is Syvertsen’s partner in Syneco, where he owns a 49% stake through his company Stokkedammen.
Syvertsen said his role in the two private companies do not interfere with his role as CEO of Klaveness.
The executive started in his job with Klaveness in 2015 after many years as shipping boss for Arne Blystad and head of the heavylift company OHT.
Klaveness Marine also has a 50% stake in Norwegian Car Carriers and a 19.4% holding in Songa Container which, has a fleet of 15 boxships.
Syvertsen received a total compensation of NOK 10.1m for his job from Klaveness Marine last year.
The company is controlled by Tom Erik Klaveness and had a value-adjusted equity of NOK 4.15bn at the end of 2019.
