Klaveness Combination Carriers (KCC) has reported preliminary fleet average TCE earnings of $29,333 per day for the fourth quarter of 2025. This result is slightly above the mid-point of the previous guiding range of $28,500 to $30,000 per day.
The caustic soda/bulk fleet achieved TCE earnings of $31,840 per day, which was $840 above the guiding range. This performance was driven by stronger dry bulk earnings from more fixed-rate contract days and positive accounting effects.
The company said it has secured a record-high contract of affreightment portfolio for 2026, covering the full caustic soda solution capacity of the caustic soda/bulk fleet. This includes three newbuilds scheduled for delivery in 2026 and provides increased flexibility for "clean petroleum"/bulk vessels trading into Australia.
The "clean petroleum"/bulk fleet reported TCE earnings of $26,851 per day for the fourth quarter, falling $149 below the guiding range. The decline was primarily attributed to negative IFRS accounting effects, though earnings remained slightly above standard LR1 spot tanker rates.
Preliminary fleet average TCE earnings for 2025 were $26,278 per day, representing a decrease of approximately $9,100 from 2024. KCC stated this reduction was mainly caused by weaker product tanker and dry bulk market conditions throughout the year.
The company noted that actual on-hire days were higher than expected due to reduced off-hire time for dry-docking. The full fourth quarter and annual reports for 2025 are scheduled for publication on February 13, 2026.
