Future Bound

Host: Peter Rayers Head of Decarbonization, Klaveness Combination Carriers Guest: Roger Strevens VP Regulatory & Environmental Affairs, Wallenius Wilhelmsen MEPC 81 — shaping a difficult, disruptive, and dear transition In this episode of Future Bound, we explore the implications of the MEPC 81 meeting in March 2024, which further developed a selection of so-called "mid-term measures" that aim to force the shipping industry towards its recently-strengthened decarbonisation goals. The episode is hosted by Peter Rayers and features Roger Strevens, VP Regulatory & Environmental Affairs at Wallenius Wilhelmsen and Chair of the World Shipping Council's Environmental & Climate Council. Roger provides perspective from and on the shipping industry, and the associations that bridge the industry with its main regulator; the IMO. Discussion points include: Now that the dust has settled from MEPC81, what happens next? Why exactly are certain owners & operators interested in developing strong regulations? Energy efficiency, the fuel transition, and closing the gap. Broader implications of a growing body of environmental regulation: compliance, risk management, and digitalisation.

Host: Engebret Dahm CEO, Klaveness Combination Carriers Guest: Eman Abdalla Vice Chair, Sea Cargo Charter and Global Operations & Supply Chain Director, Cargill Sea Cargo Charter - Three Years On In this episode of Future Bound, join Sea Cargo Charter (SCC) Vice Chair Eman Abdalla as we navigate its journey since launch in October 2020. The SCC, covering approximately 18% of 2022's total bulk cargo by sea, represents a global framework that unites 37 charterers and operators - with an aim to redefine responsible chartering in the maritime sector in line with international climate goals. Hear from Abdalla on where the SCC stands today in terms of progress, key lessons, and how it continues to provide a valuable platform to members including founding signatory KCC. Discussion points include: The SCC explained Since the SCC’s inception, what are the lessons learned and has been achieved to date? How SCC ambitions align with IMO’s latest strategy Will stricter decarbonization regulations render voluntary initiatives such as SCC superfluous? How the SCC answers critics on motives and progress Being a forum made up of several major players in the industry, where could the SCC leverage that strength to do more beyond transparency and reporting? About Abdalla: With over 25 years of experience in the shipping, mining, and metals industries, Eman Abdalla is a maritime, supply chain and logistics professional who is passionate about creating and implementing strategies that drive sustainable growth, innovation, and customer satisfaction. Abdalla is currently the Global Operations & Supply Chain Director at Cargill, one of the world's largest food and agriculture companies, where I lead the global operations of the Ocean Transportation Business Unit, overseeing the safety, efficiency, and profitability of a fleet of over 700 vessels. As the Vice Chair of the Sea Cargo Charter, a global initiative that establishes a common framework for assessing and disclosing the climate alignment of chartering activities, Abdalla is also committed to advancing the environmental and social responsibility of the maritime sector. She works with a diverse group of charterers, shipowners, banks, and other stakeholders to promote transparency, accountability, and collaboration in reducing greenhouse gas emissions and enhancing sustainability performance.

Host: Pareto Securities AS Guests: Engebret Dahm CEO Klaveness Combination Carriers In Norwegian language only "Why Sail Empty-Handed?" KCC CEO Engebret Dahm guests on ‘Paretopodden’, the podcast by Pareto Securities, to discuss what differentiates KCC from other shipping companies and what the markets we are exposed to look like now. Together with stockbroker Sebastian Baartvedt and shipping analyst August Klemp, they also go over KCC's history, the ESG aspect the company offers through its special business, and why excellence in execution is central. Pareto’s analysis coverage on Klaveness Combination Carriers can be found in its trading and analysis platform for clients: https://online.paretosec.com/instrument/NO0010833262/c/NOK/research About Pareto: Pareto Securities is an independent full-service investment bank with a leading position in the Nordic capital markets and a strong international presence and global placing power.

Host: Engebret Dahm CEO, Klaveness Combination Carriers Guests: Helene Tofte, Political Advisor at Norwegian Shipowners'​ Association and Sofie Fogstad Vold, Senior Advisor at Norwegian Ministry of Climate and Environment Synopsis: We delve into the International Maritime Organization's (IMO) revised Greenhouse Gas (GHG) strategy agreed at the MEPC80 meetings held July 2023 , seen by many as a pivotal step in the shipping industry's journey towards decarbonization. Hosted by Engebret Dahm, the episode features discussions with Sofie Fogstad Vold, Senior Adviser in the Norwegian Ministry of Climate and Environment, and Helene Tofte, Executive Director at the Norwegian Shipowners Association. They explore the intricacies of the IMO's decision-making process, evaluate the revised GHG strategy, and discuss the future prospects for shipping’s decarbonization journey. Discussion Points: About Tofte: Helene Tofte is the Executive Director of the Department of International Cooperation and Climate. She has the overarching responsibility for the Norwegian Shipowners’ Association’s international engagement and climate activities, with special focus on monitoring international climate processes. About Vold: Sofie Fogstad Vold works as senior advisor at the Norwegian Ministry for Climate and Environment, among other with the International Maritime Organization negotiations related to the climate and environment framework for shipping.

Courtesy of shipping enthusiast and new podcaster Edward Finley-Richardson, we are pleased to bring you the recording of his conversation with our CEO Engebret Dahm at our offices held in December 2023. Finley-Richardson quizzed Dahm on KCC's unique business model, decarbonization ambitions, and what makes KCC an attractive option to investors. About Finley-Richardson: A shipping investor and speculator, he curates a popular Twitter account (@ed_fin) which disseminates information relevant to shipping, with a focus on US and EU-listed oil tanker, dry bulk, container ship, and LNG carrier equities. Finley-Richardson also shares information relevant to macro-economic factors which invariably influence shipping dynamics, in addition to news and analysis relating to the underlying commodities of each shipping segment like coal, iron ore, steel, crude oil, oil products, and natural gas.

Host: Jean Sissener Project Developer, Klaveness Combination Carriers Guest: Ingrid Kylstad Sustainability Lead, ZeroLab by Klaveness “A big enough number to start conversations” The European Union Emissions Trading System, better known as the EU ETS, is the EU’s market mechanism that applies a price to CO2 and creates incentives to reduce emissions. Established in 2005, the goal has been to reduce emissions in energy-intensive industries and from 2024, it will include emissions from shipping. Under the scheme, all cargo vessels and passenger ships over 5,000 DWT sailing to or from EU ports, will have to surrender their emissions allowance as follows: 40% of their verified emissions in 2024 70% of their verified emissions in 2025 100% of verified emissions from 2026 onwards This will include 100% of the emissions from intra-European routes and from vessels berthing within the EU, as well as 50% of extra-European routes to and from a port within the EU. With the clock ticking, questions still linger over preparations, how the costs will be allocated, and how much the scheme will incentivize the industry. To answer these questions, Jean Sissener quizzes decarbonization guru Ingrid Kylstad of ZeroLab, with Kylstad then switching roles to probe Sissener on what steps KCC has taken for their own preparations. Discussion points include: What is the EU ETS and the background for shipping to be included How the mechanics of surrendering emissions allowances will work The current (and possible) cost of the EU ETS, and how customers may prefer to deal with it KCC’s ongoing preparations How KCC is ‘self-regulating’ with a carbon shadow pricing mechanism to its decision-making, and how its carbon adjusted freight (CAF) mechanism established with South32 works About Kylstad: As Sustainability Lead for ZeroLab by Klaveness, Kylstad is an inquisitive, inter-disciplinary professional who thrives at the intersection of business, politics, and society. With professional experience spanning EU public affairs (maritime, competition, climate, energy) and startup investments, Kylstad is passionate about turning sustainability into a business opportunity and enjoys working with people with a "can do"-attitude.

Host: Liv Dyrnes, CFO, Klaveness Combination Carriers Guest: Anders Mjølsnes Sørheim Sustainability and CO2 Performance Manager, Klaveness Combination Carriers (KCC) / Klaveness Ship Management (KSM) “Sail in ballast all year if you want to" As stated by IMO to incentivize reducing the carbon intensity of vessels by 40% by 2030 compared to 2008 baseline: “Ships are required to calculate two ratings: their attained Energy Efficiency Existing Ship Index (EEXI) to determine their energy efficiency, and their annual operational Carbon Intensity Indicator (CII) and associated CII rating. With requirements for EEXI and CII certification coming into play from January 1st 2023 and the first annual reporting to be completed in 2023, CFO Liv Dyrnes sits down with Sustainability and CO2 Performance Manager Anders Sørheim to discuss why KCC is not directly impacted by IMO’s EEXI and CII regulations - and why the AER is not a measure incentivizing the industry to reduce emissions. Discussion points include: The EEXI and CII regulations explained The flaws of much-debated CII Meeting the expectations set out by IMO What the regulations means for KCC’s CABU and CLEANBU vessels Implications and expectations for the wider industry About Sørheim: Sustainability and CO2 Performance Manager with KSM, working directly with KCC on topics such as energy efficiency, decarbonization initiatives and regulatory environmental compliance.

Host: Craig Eason Owner/Editorial Director, Fathom World Guest: Engebret Dahm CEO, Klaveness Combination Carriers “Profitability and sustainability go hand in hand” While KCC is committed to transitioning to low and zero-emission fuels within this decade, achieving this ambitious goal requires a concerted global effort. Will it require a global price on carbon? Will customers be willing to cooperate and pay? We may be pushing for this change, but success requires greater collaboration, a different regulatory framework, and technological advancements. Continuing the conversation around KCC’s newly updated Environmental Strategy for 2023-50, hear from Craig Eason, Editorial Director/Owner at Fathom World, as he takes the helm to quiz CEO Engebret Dahm on our ambitions for the future fuel transition and how we plan to get there. Discussion points include: KCC’s ambitions for getting started with the fuel transition, what can we achieve on our own and what is required from the “outside world”? Getting the cargo owners onboard with the journey How can KCC make decisions on new vessels now, while ensuring those vessels are still going to be viable in the future? Introducing drop-in biofuels to the fuel mix The role of the crew onboard in delivering on our targets About Eason: Owner of Fathom Maritime Media AB, a Sweden-registered business focusing on delivering content, news, project management and analysis in the maritime, shipping and marine industries. He is a multi-disciplined media and communications entrepreneur with a deep background in the maritime, shipping and ocean space. With an ability and empathy to quickly understand a situation or issue, and then find clear direction for a successful outcome. He is a former seafarer with a certificate of competency deck and a subsequent post graduate diploma in broadcast journalism. He has an eye for detail, an appreciation of the demands on others and an ability to collaboratively turn situations and projects into opportunities. Current workflows includes high level speech writing, knowledge based social media content (based on industry knowledge and broadcast/multimedia background), project management and liaising with conflicting and disparate entities to find forward motion in deliverables.

Host: Christine Korme Head of Communications, Norwegian Shipowner’s Association Guest: Engebret Dahm CEO, Klaveness Combination Carriers “It’s about walking the talk” Three years on from the release of KCC’s first Environmental Strategy in 2020, shipping is falling behind schedule on IMO’s 2030 targets as the choice and availability of new fuels, technology, and future regulatory framework remains highly uncertain. But KCC has always chosen the proactive approach and opted for the carrot rather than wait for stick and with the launch of our newly updated Environmental Strategy for 2023-50, our CEO Engebret Dahm is quizzed by the Norwegian Shipowner’s Association Head of Communications, Christine Korme, to ultimately ask the question: "What can KCC and the rest of the industry do to decarbonize our business given the uncertainty that continues to surround us?” Discussion points include: About Korme: Director of Communications at the Norwegian Shipowners’ Association. As head of the Communications Department her primary responsibility is strategic and operative communications, in addition to coordinating many of the association’s events. She worked for 25 years in Norwegian media, including 17 years as news anchor, program host and US correspondent for TV2. She has been Director of Communications for Microsoft Norway and was Director of Digitalization and Transformation at the employers’ organization Abelia before joining the Norwegian Shipowners’ Association in August 2018.

Host: Martin Wattum Head of Projects and Business Transformation, KCC Guest: Noah Silberschmidt CEO, Silverstream Technologies “A case of seeing is believing” In April 2021 we announced KCC had concluded key strategic agreements for an energy efficiency retrofit on two of our vessels, which included the installation of an air lubrication system by Silverstream Technologies. Known as the Silverstream® System, the solution releases a carpet of microbubbles that travels the full length of the flat bottom of a vessel, reducing friction between the hull and water. The installations are slated to be carried out on one CABU II class vessel and one CLEANBU class vessel during their next scheduled dockings during Q2 and Q3 2023. In this special ‘on the road’ edition of Future Bound, Martin Wattum took the opportunity to visit Silverstream Technologies in London and sit down with CEO Noah Silberschmidt to dig into how Silverstream works and what the installation means for KCC’s vessels due to onboard the solution. Discussion points include: A history of air lubrication technology What makes the Silverstream® System the most efficient friction reduction technology on the market How best-in-class health and safety standards are followed Installing the Silverstream® System on newbuilds vs retrofitting Silverstream’s role to play in a future of greener fuels About Silberschmidt: Founder, Chief Executive Officer and Board Member at Silverstream Technologies. Under Silberschmidt’s leadership, Silverstream has successfully developed, marketed, and commercialized its scale air lubrication technology - the Silverstream® System.

Host: Engebret Dahm CEO, KCC Guest: Andreas Krossøy Maritime Trainee, KCC + Various Klaveness business units "Steak and Karaoke Nights" Through the Klaveness Group, KCC is a regular participant in the Norwegian Shipowners Association’s Management Trainee program. This 18-month initiative combines the practical experience of working different departments at Klaveness, together with theoretical knowledge gained through an academic program. Andreas Krossøy joins us as part of the Klaveness class of 2022-23 and recently completed a stint sailing with the CLEANBU MV Bass, before returning onshore to work with KCC on projects and business development. In this episode, we ask Krossøy to take us on a journey of his 5-week stint sailing aboard MV Bass from Europe to South America and to tell us a little more about his work onshore with KCC’s ongoing energy efficiency initiatives. Discussion points include: The onshore projects Krossøy is working on for KCC and KSM A journey aboard MV Bass with all its highs and surprises Why the experience at sea is valuable for an onshore career in shipping Breaking the stereotypes that shipping is an old-fashioned and stuffy business Krossøy’s plans for the future About Krossøy: Joined Torvald Klaveness as a Maritime Trainee during the fall of 2022 as a recent graduate of MSc Shipping, Trade & Finance at Bayes (formerly Cass) Business School in London. Also holds a BSc Economics and Business Administration from the Norwegian School of Economics.

Host: Ingrid Kylstad Sustainability Lead, ZeroLab by Klaveness Guest: Rasmus Bach Nielsen Vice Chair, Sea Cargo Charter | Global Head of Fuel Decarbonization, Trafigura “Only when we have transparency can we start to drive behavioral change” In the absence of sufficient regulations and a global price on carbon, the shipping industry’s decarbonization agenda is spurned forward by its front runners and voluntary initiatives such as the Sea Cargo Charter (SCC). With 34 members made up of charterers and operators, the Sea Cargo Charter establishes a framework for assessing and disclosing the climate alignment of ship chartering activities around the globe. It sets a benchmark for what it means to be a responsible charterer in the maritime sector and provides actionable guidance on how to achieve this. In this episode, Vice Chair Rasmus Bach Nielsen outlines how this standardized emissions reporting format is more than just a ‘tick the box’ exercise and the global necessity of driving transparency around emissions. Discussion points include: About Bach Nielsen: A frequent contributor to the debate on decarbonization of shipping. Rasmus Bach Nielsen joined Trafigura in August 2014 as Global Head of Wet Freight and in August 2020, took up the newly established role of Global Head of Fuel Decarbonization with the objective of reducing the Group’s shipping emission footprint. Nielsen serves as Vice Chair of the Sea Cargo Charter and currently ranked 10th on Lloyd’s List of 100 most influential persons in shipping.

Moderator: Ingrid Kylstad Sustainability Lead, ZeroLab by Klaveness Guests: Engebret Dahm CEO Klaveness, Combination Carriers Su Yun Anand Head of Shipping, South32 Haris Zografakis Partner Stephenson, Harwood LLP Claire Wright GM Commercial & Strategy, Shell Shipping and Maritime “What does it take to become a leader in decarbonization?” Description: To be a leader within shipping decarbonization is about being bold and having a willingness to take risks. With that in mind, how can charterers and shipowners work together to make early moves less risky for those involved? Catch up on the recording from the second part of our webinar held in September 2022 as our panel blends commercial and legal perspectives and bring a touch of idealism as they dig deeper into the question: do emission reductions have any value before there is a carbon tax in place? And do stakeholders have any payment willingness beyond what can safely be defended through fuel savings?

Moderator: Ingrid Kylstad Sustainability Lead, ZeroLab by Klaveness Guests: Engebret Dahm CEO, Klaveness Combination Carriers Julian Bray Editor in Chief, TradeWinds Marthe Lamp Sandvik First Vice President | Energy Transition Solutions, DNB Johannah Christensen CEO, Global Maritime Forum “Are shipping emissions still a priority for stakeholders — and what does it take to increase urgency? Description: Amidst soaring inflation, continuous supply chain disruptions and an urgent energy security crisis following the Ukraine war, are shipping emissions still a priority for the shipping industry’s stakeholders? Do emission reductions have any value before there is a carbon tax? Catch up on the recording of our webinar held in September 2022 to hear an expert panel of thought leaders tackle these questions as they took stock of how progress is holding up during deep market and policy turmoil, and the possible prospects of new environmental regulations driving change.

Host: Liv Dyrnes CFO Klaveness Combination Carriers (KCC) Guest: Torbjørn Eide VP Maritime Personnel, Klaveness Ship Management (KSM) “When employing crew for these combination carriers, we can’t just shake trees and expect qualified seafarers to fall out of them” The Philippines has long been the world’s largest supplier of seafarers, serving up no shortage of talent to the pool of over 1.6 million sailors that make up the backbone of global logistics. At KCC our fleet is largely made up of its own share of dedicated Filipinos, Romanians, a minority share of other Europeans, and now, thanks to the vision of VP Maritime Personnel Torbjørn Eide, a 5% (and growing) share of South Africans. The South African project has primarily been pioneered by Eide for the past decade, who has previously commented, “complementing the nationalities aboard our vessels is an important and valuable experience for our sailors, and we see South Africa as a well of untapped potential from a skills and people development perspective.” With KCC’s specialist combination carriers requiring specific competence, Liv Dyrnes quizzes Edie on how he and his team have spent the past 10 years developing South Africa’s Ugu District as our new ‘center of gravity’ for recruiting the skilled seafarers now serving as Ratings and Cadets in the fleet. Discussion points include: About Eide: Vice President of Maritime Personnel for Klaveness Ship Management, a position he has held for more than 20 years. Brings extensive experience within maritime from crewing, ship management, and a leading figure in KSM’s 97% seafarer retention rate.

Host: Engebret Dahm CEO Guest: Martin Wattum Head of Projects and Business Transformation "Take a ride on KCC's magic carpet" In November 2021 KCC raised $25 million exclusively dedicated to a program designed deliver significant cuts in carbon emissions across the fleet and further strengthen KCC' position as a leader in low carbon shipping. Through the energy efficiency program, KCC’s aim is to position for a future of increasingly strict decarbonization regulations and customer requirements in the shipping industry. Several of the initiatives have already been deployed since, with others in development and others being considered for the future. In this episode, Martin Wattum takes us on a tour of a typical vessel in the KCC fleet and walks us through each measure of energy saving potential currently being deployed or under consideration, and the carbon cuts we expect to see. Discussion points include: About Wattum: Heads the Projects and Business Transformation department at Torvald Klaveness, with a focus on delivering Safer, Greener and Data Smart Solutions for our fleet and future concepts. Brings experiences from KCC as Senior Project Developer, and as FFA and oil trader and dry bulk Chartering at Klaveness.

Host: DNB Marius Brun Haugen and Shipping Analyst Jørgen Lian Guest: Engebret Dahm CEO, Klaveness Combination Carriers Episode audio and description provided courtesy of DNB Finnes det en shippingaksje som demonstrerer ESG i praksis, opererer i et nisjemarked med begrenset konkurranse og har gode utsikter til utbyttevekst? Klaveness Combination Carriers (KCC) ser ut til å sjekke av alle punktene på listen. Er det for godt til å være sant? I denne episoden tar Marius Brun Haugen en nærmere titt på investeringscaset i KCC og hører hvordan selskapets CEO Engebret Dahm vurderer markedsutsiktene. Du hører også fra shippinganalytiker Jørgen Lian som opererer med en kjøpsanbefaling på aksjen og kursmål NOK 84.

Speaker: Engebret Dahm CEO, Klaveness Combination Carriers Bonus Episode (video recommended) To watch video, visit: https://www.combinationcarriers.com/bonus-dnb-conference In Q1 2022 KCC CEO Engebret Dahm presented at the DNB Energy and Shipping Conference in Oslo, Norway. With special thanks to DNB for providing the enclosed footage, we are able to bring you Dahm’s presentation as a bonus Podcast episode. Discussion points include: An introduction to Klaveness Combination Carriers KCC’s value proposition and strategy KCC’s current position in the dry bulk and tanker markets Current earnings of the fleet KCC’s present outlook

Host: Martin Prokosch Head of ZeroLab Guest: Jan Peder Myklebost Head of Shipping and Inbound Logistics at Norsk Hydro “You can’t improve it if you don’t measure it” Aluminium industry leader Norsk Hydro recently joined us for a webinar to discuss how they are working with Klaveness to digitalize supply chain management and explore how to reduce emissions from sourcing and shipping. We extracted this interview from the webinar to bring you as a Podcast episode. Discussion points include: Hydro’s strategy and aim to reduce emissions 30% by 2030 How Hydro is quantifying its Scope 3 emissions with Klaveness Why the EU ETS scheme matters to cargo owners The value of defining a baseline for getting started The importance of The Sea Cargo Charter Why collaboration as an essential ingredient Answering audience questions live Before joining Hydro Aluminium, Myklebost was 10 years with Höegh Autoliners where his last position was Managing Director for Höegh Autoliners Shortsea Americas, based in Panama. Prior to this he was Deputy Managing Director for Euro Marine Logistics (JV between Höegh Autoliners and MOL) based in Belgium. From 2012-2015, he was Head of Operations, Region Europe and Oceania for Höegh Autoliners.

Host: Liv Dyrnes CFO, Klaveness Combination Carriers Guest: Gudrun Helset Acting MD, Klaveness Ship Management “Safety is more than just a word” During her stint as Acting Managing Director of Klaveness Ship Management (KSM), Gudrun Helset joined CFO Liv Dyrnes in the Studio to discuss how KLASS (Klaveness Aways Safe and Secure) acts as our safety mantra and guideline in all decision making. Safety is a priority for KCC and a quintessential part of our DNA in how we conduct all our operations. Helset highlights how this is especially of importance at KCC when considering that vessels regularly make the switch from bulk carrier to oil tanker, meaning the highest safety standards must be maintained on vessels at all times. In addition to quizzing Helset on these aspects of our operations, Dyrnes asks Helset to elaborate on how she successfully pioneered KLASS and revitalized a strong safety culture throughout KCC’s fleet. Discussion points include: The origins of KLASS Using gamification to instill a safety culture on the vessels Managing risk across all types of operations How do we work with our crew to inspire the same values as we have on shore? Keeping morale up during times of isolation between crew changes Why we have such a high retention rate among the crew What’s in store for the road ahead Gudrun Helset joined Klaveness Ship Management as Head of Strategy and Change in February 2021 prior to filling the role of Managing Director in 20222 until May 1st. Helset has extensive background from maritime operational business improvements and organizational development and holds a MSc in Business and Administration, with a major in organizational psychology from BI the Norwegian Business School.