Klaveness Combination Carriers (KCC) took delivery of Baiacu in January 2021, the sixth of eight CLEANBU combination carriers the shipowner has ordered to date
A statement from KCC said the start of trading for Baiacu will be delayed due to Covid-19 travel restrictions and quarantine regulations impacting the mobilisation of crew. The vessel is scheduled to load its first cargo of clean petroleum products in mid-February 2021.
The 82,500-dwt vessel was built at the New Yangzi Shipyard in China. With the delivery of Baiacu, Klaveness Combination Carriers will operate a fleet of 15 combination carriers.
CLEANBUs can significantly lower CO2 emissions per tonne mile of transported cargo as compared to traditional vessels, in line with IMO’s 2030 targets for shipping.
KCC owns and operates nine CABU and six CLEANBU combination carriers with another two CLEANBU combination carriers on order for scheduled deliveries in 2021. KCC’s combination carriers are built for transporting both wet and dry bulk cargoes, operated in trades where the vessels combine dry and wet cargoes with minimum ballast.
Publicly listed KCC operates two types of combination carriers. Its CABU vessels are 72,500-dwt to 80,500-dwt combination carriers that transport caustic soda solution, floating fertiliser, molasses and all types of dry cargo. The CABUs operate in the Far East, the Middle East, Australia, Brazil and North America. The caustic soda shipments are mainly based on contracts of affreightment, while the dry cargoes are partly spot and partly contract shipments.
Its CLEANBUs are 82,500 dwt and are both fully-fledged LR1 product tankers and Kamsarmax dry bulk carriers transporting clean petroleum products, heavy liquid cargoes, all types of dry bulk products and dry bulk return shipments of alumina, bauxite, iron ore, salt and coal.
The CLEANBUs are being constructed at Jiangsu New Yangzi Shipbuilding with delivery of the first vessel having taken place in January 2019 and the final vessel due in Q1 2021.
The combination carriers have strong green credentials and in July 2020, KCC secured a US$60M sustainability linked term loan and revolving credit facility for financing the seventh and eight CLEANBU vessels with delivery in 2021. Nordea bank acted as co-ordinator and bookrunner and Credit Agricole as sustainability agent.
In this deal, the credit margin will be adjusted up or down based on KCC’s sustainability performance, as defined by the company’s ability to meet its goal of reducing CO2 emissions per tonne of transported cargo per nautical mile and reducing absolute CO2 emissions per vessel.
KCC’s ambition is to be carbon neutral by 2030, to reach International Maritime Organization’s carbon intensity target for 2030 by 2022 and to reduce absolute emissions per vessel by 15% from 2018 to 2022.
Through high fuel utilisation and efficiency, the vessels emit up to 40% less CO2 per transported tonne compared to standard tanker and dry bulk vessels in current and targeted combination trading patterns.