8. Organisation

At year end, Klaveness had 86 employees in Oslo, 26 employees in Singapore and 4 employees in Shanghai. Klaveness Maritime Agency, the manning office in Manila, had 30 employees. In Oslo 31% were female, while at the offices in Asia 47% were female. Absence due to sick leave was satisfactory, averaging 1.7% in 2013 compared to 1.8 % in 2012. Working conditions for employees are considered to be good.

In 2013 it was decided to transfer accounting services to the Manila office, leading to a downsizing in the Oslo office and an increase in staff in Manila. The transfer has led to both cost savings and a more scalable set-up.

800 seafarers are hired through manning offices in Manila and Constanta. In addition, some South African crew has been engaged. The retention rate for 2013 was 96%, indicating that Torvald Klaveness is able to attract and retain qualified seafarers. Torvald Klaveness endeavours to offer all employees, regardless of gender, religion, beliefs or nationality, equal and attractive career opportunities in the Company.

The Board of Directors expresses its appreciation of the work done by all the employees during 2013.