KCC Chartering AS and South32 Marketing Pte Ltd have signed a six-year contract ofaffreightment (“COA”) for shipments of caustic soda to South32’s Worsley Alumina refinerylocated in Western Australia. The COA establishes a framework for how KCC and South32 willwork together to deliver further reductions in carbon emissions associated with South32’scaustic soda ocean freight to Australia.

The agreed sustainability framework includes detailed CO2 emission reporting and the establishing of trajectories forannual CO2 reductions targets, and arrangements for how to co-operate to reach the set targets. It further includes anambition to jointly establish a pathway towards future zero emission freight.

Klaveness/KCC have serviced Worsley Alumina with four generations of combination carriers on a continued basis formore than 30 years.

KCC’s CEO Engebret Dahm commented,

“this contract marks another important milestone in the longstanding relationship between South32 and KCC. In this next era of our relationship, together we will address the main challenge of our generation - climate change. We have jointly set ambitions to considerably reduce shipping carbon emissions through building on KCC’s low carbon caustic soda shipping solution, which already today provides South32 with a 30-40% lower carbon footprint than competing tanker vessels.”

Engebret Dahm, CEO of KCC

South32 Chief Human Resources and Commercial Officer, Brendan Harris, said: “We are pleased to continue ourrelationship with KCC and our joint efforts to reduce greenhouse gas emissions in the maritime supply chain. It’spartnerships like these that contribute to the decarbonisation of our value chain and promote the responsible production of commodities needed in a low-carbon world. At South32, we are committed to achieving net zero operational carbon emissions by 2050 and have set a medium-term target to halve these emissions by 2035.”

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