Oslo, 23 October 2024: Torvald Klaveness announced today the sale of 100% of
Klaveness Ship Management AS shares to OSM Thome, a global leader in ship
management. Subsidiaries of Klaveness Combination Carriers AS, in parallel, have
agreed to enter into new ship management agreements for its fleet with Klaveness
Ship Management under ownership of OSM Thome. 

Additionally, Torvald Klaveness and OSM Thome have agreed to cooperate to
explore new ways to modernize ship management through new technology and
digitalization. 
 
This move by the Torvald Klaveness Group is driven by the need for scale and
investment capacity to address future demands, and to strengthen the development
of ship management activities linked to the Klaveness Combination Carriers.  

Ensuring Continuity and Protecting Expertise in Operating the Fleet of Klaveness
Combination Carriers
The agreement safeguards the continuity and integrated operating model of the
technical management of the Klaveness Combination Carrier fleet meaning the
dedicated team of experienced professionals will continue to work exclusively
for Klaveness Combination Carriers.  

With OSM Thome as the new owner of Klaveness Ship Management, Klaveness
Combination Carriers will gain access to additional technical resources and
scale that will further improve activities and support future expansion. The
highly qualified and specialized crewing pool will continue to be dedicated to
the Klaveness Combination Carrier fleet. In the agreement with OSM Thome,
special emphasis has been put on protecting Klaveness Combination Carrier's
unique expertise in operating the combination carriers.

Continued Operations 
OSM Thome employs around 29,000 seafarers and 1,600 shore-based professionals,
serving several international leading shipping groups. They will establish a new
office on the Torvald Klaveness premises in Oslo that will handle the ship
management for Klaveness Combination Carriers. Klaveness Ship Management will
also, under OSM Thome ownership, retain its name. The transactions are set to
take effect from January 2025. 

CEO Comments:
- CEO of Torvald Klaveness, Ernst Meyer comments, "This transfer of ownership
represents a new operations model that integrates the expertise, focus, and
quality we've built over many years in our ship management operations with the
necessary scale. That said, we are pleased to cooperate with OSM Thome,
leveraging their expertise and resources to meet future requirements and
preserving the world-class operations of the Klaveness Combination Carrier
fleet." 

- CEO of OSM Thome, Finn Amund Norbye, says, "We are proud to cooperate with
Torvald Klaveness, a quality shipping company, and look forward to working with
the skilled team at Klaveness Ship Management. Our focus will be on maintaining
continuity, and building on the high standards of safety, quality, and
efficiency of operating the Klaveness Combination Carriers. We will also work
together on future-oriented solutions by utilizing new technology and ensuring
environmentally friendly operations." 

- CEO of Klaveness Combination Carriers, Engebret Dahm says, "Through the
agreements with OSM Thome, Klaveness Combination Carriers will maintain the best
of the current integrated operating model for technical management of its fleet
with access to the large operational scale and additional technical resources of
OSM Thome, one of the world's largest and most reputable ship management
companies." 

About Torvald Klaveness:
Torvald Klaveness is a pioneering shipping company with a vision to improve the
nature of shipping and an ambition to make seaborne supply chains resilient,
decarbonized, and cost-effective. The company consists of a holding structure
and four operating companies. Through Klaveness Combination Carriers, the
company takes an active part in the transition to low-carbon shipping with its
unique combination carrier concept. Klaveness Dry Bulk is a leading operator
servicing the global dry bulk industry, it manages the world's largest Panamax
Pool and Market Manager, a digital platform enabling clients to make data-driven
freight decisions. Klaveness Ship Management manages the owned vessels from an
environmental, technical, and commercial standpoint. Klaveness Digital has
developed the world's leading platform for managing seaborne supply chains with
CargoValue. With over 75 years' experience, Torvald Klaveness operates some 100
vessels through offices in Oslo, Singapore, Tokyo, Dubai, and Manila with around
200 employees onshore and close to 650 seafarers.  
More information about Torvald Klaveness, visit the website: www.klaveness.com. 


About OSM Thome:
Safety, efficiency and environmental considerations are key in OSM Thome's
operation of its customers' ships. The business is built on trust, expertise and
innovative power. This has given the company a leading global position. 
OSM Thome offers, among other things, technical operations, crew management,
education, and marine services, taking care of the operation of the ships in a
competitive manner. The company employs around 29,000 seafarers, and it has
1,600 shore-based employees. These operate a fleet of 1,000 ships from 22
countries around the world.    
In recent years, OSM Thome has been a leader in the consolidation of the
international ship management industry. The company has ambitions for continued
growth - but the main task will always be to take care of existing customers
with high quality and excellent service.  
For more information on OSM Thome, visit the website: https://osmthome.com/ 

About Klaveness Combination Carriers ASA:
Klaveness Combination Carriers (KCC) is the world leader in combination
carriers, owning and operating eight CABU and eight CLEANBU combination carriers
with three CABU vessels under construction for delivery in 2026.  
KCC's combination carriers are built for transportation of both wet and dry bulk
cargoes, being operated in trades where the vessels efficiently combine dry and
wet cargoes with minimum ballast. Through their high utilization and efficiency,
the vessels emit up to 40% less CO2 per transported ton compared to standard
tanker and dry bulk vessels in current and targeted combination trading
patterns. 
For more information on KCC, visit the website: www.combinationcarriers.com 

Media Contacts: 
Torvald Klaveness Media Inquiries please contact: 
Haley Zerwas Kerek, Head of Corporate Communications 
Email: hzk@klaveness.com 
Phone: +47 476 73 892 

OSM Thome Media Inquiries please contact: 
Finn Amund Norbye, CEO 
Phone: +47 952 76 616 

Klaveness Combination Carriers Media Inquiries please contact: 
Engebret Dahm, CEO 
Phone: +47 957 46 851