Klaveness Combination Carriers reported profit after tax of $15.6 million for the first quarter of 2026, representing a 51 per cent increase compared to the previous quarter. The shipping company also recorded earnings of $29.3 million before interest, taxes, depreciation, and amortisation, which rose 30 per cent from the final three months of 2025.
Chief Executive Officer Engebret Dahm stated, “KCC has steered well through turbulent markets caused by the ongoing Middle East conflict.” He noted that the primary focus remains the safety of the crew aboard a caustic soda/bulk vessel currently trapped in the Middle East gulf.
The company expects second quarter results to strengthen further, mainly underpinned by firm product tanker rates. It also secured a two-year time charter for one "clean petroleum"/bulk vessel with a global energy company during the period.
Higher earnings from the "clean petroleum"/bulk fleet and increased on-hire days following the delivery of a new vessel drove the quarterly growth.
Average daily time charter equivalent earnings for the fleet reached $33,432, compared to $29,333 in the fourth quarter of 2025.
Two new caustic soda/bulk newbuilds were delivered to the fleet in February and April. One caustic soda/bulk vessel also began a 32-month contract of affreightment for caustic soda solution into Brazil after completing a life-extension docking.
KCC said it is focused on maintaining a steady service to customers while capturing value in the buoyant tanker market. Daily earnings for the caustic soda/bulk fleet are expected to reach between $32,500 and $34,500 in the second quarter, according to company projections.
Projections for the "clean petroleum"/bulk fleet indicate daily earnings between $49,000 and $54,000 for the three months ending June 30.
The company clarified these figures are based on booked cargoes and expected employment for open capacity.
