Norway's Klaveness Combination Carriers (KCC) posted a profit after tax of $23.6 million for the third quarter of 2026.
The result, announced on Tuesday, October 27, is up 14 per cent from the second quarter and 96 per cent year-on-year.
EBITDA reached $40.4 million, five per cent higher quarter-on-quarter, while net revenue from vessel operations rose to $60.2 million from $52.1 million. KCC attributed the improvement mainly to additional earning days following newbuilding deliveries and reduced dry-docking off-hire.
Average fleet time-charter equivalent (TCE) earnings were $36,116 per day, within the range the company had previously guided.
Caustic-bulk (CABU) earnings rose one per cent to $34,499 per day, while “clean petroleum”-bulk (CLEANBU) earnings fell 10 per cent to $38,164 per day on a weaker summer LR1 product tanker market and greater dry bulk employment.
For the fourth quarter, KCC guided record overall fleet TCE earnings of $49,100–56,200 per day, with 64 per cent of capacity fixed. CABU guidance stands at $43,000–48,000 per day and CLEANBU guidance at $57,000–67,000 per day.
"We enter the fourth quarter with record-high TCE earnings guidance, underpinned by a buoyant tanker market and solid dry bulk earnings," said CEO Engebret Dahm.
KCC operates 19 combination carriers: 11 CABU and eight CLEANBU vessels. The third and final CABU newbuilding, Baltazar, was delivered on August 6.