Klaveness Combination Carriers announced that its preliminary fleet average time charter equivalent earnings reached $37,782 per day for the second quarter.
This result falls within the company's previously guided range of $36,500 to $38,400 per day.
The caustic soda/bulk fleet achieved average earnings of $34,076 per day, which falls within its guided range of $33,500 to $34,500 per day and represents an increase of $4,524 per day from the first quarter.
Although supported by stronger markets and increased wet mode trading, these earnings were partially offset by less efficient trading as the situation in the Middle East affected caustic soda procurement for the alumina industry, leading to more ballasting and longer waiting times.
For the "clean petroleum"/bulk fleet, preliminary earnings ended at $42,243 per day, representing an increase of $4,932 per day from the first quarter.
This growth was driven by a stronger average product tanker market, higher wet mode capacity, and a healthy dry bulk market, though IFRS adjustments reduced daily earnings by approximately $1,900 at the end of the quarter due to high ballasting.
Actual on-hire days for the fleet exceeded guidance by four days, largely because the vessel Banastar safely exited the Persian Gulf on June 25.
The company expects total loss of hire compensation for Banastar and one "clean petroleum"/bulk vessel undergoing prolonged dry docking to be approximately $5.3 million for the quarter.
Compared to standard tanker markets, the caustic soda/bulk and "clean petroleum"/bulk fleets achieved earnings multiples of 0.7 and 0.6, respectively. The shipping firm is scheduled to publish its full report for the second quarter on August 25.