Crew Reviews, Ratings & Info for Csl-Tarantau

Klaveness Ship Holding AS (KSH), through its subsidiary Klaveness Selfunloaders AS, has inked a deal to divest five of its self-unloading bulk carriers to affiliates of Algoma Central Corporation and The CSL Group Inc. The agreement specifies that Algoma and CSL affiliates will each obtain two vessels, while Marbulk Shipping Limited, a joint venture between Algoma and CSL, will take ownership of one vessel. This strategic move appraises the five vessels at a total valuation of USD 190 million. The agreement's execution hinges on technical due diligence for each vessel, which is anticipated to clear by December 2015, paving the way for transaction completion in the first quarter of 2016. This sale is expected to yield an estimated accounting gain of around USD 30 million for KSH. Lasse Kristoffersen, CEO of Torvald Klaveness, remarked, "This transaction will free up significant investment capacity that we can leverage to advance projects we have been developing." This sale is part of Klaveness’s ongoing strategy to optimize its fleet and investments.