Norway’s EGD Shipholding is expanding its cooperation with the Torvald Klaveness group in Oslo by investing $20m in Klaveness Combination Carriers (KCC).

The Bergen-based company that includes EGD Shipholding took about 44% of this week’s $45m private placement by KCC.

As TradeWinds reported, the share issue, handled by Clarksons Platou Securities, fell short of its $70m target.

Klaveness Ship Holding pumped $3.6m