KCC: Third Quarter 2026 Solid Q3, record Q4 outlook
Oslo, 27 October 2026: Klaveness Combination Carriers ASA ("KCC") delivered one of its strongest quarters in its history in Q3 2026, reporting EBITDA of USD 40.4 million and Profit after tax of USD 23.6 million.
CEO Engebret Dahm commented: "KCC delivered another solid quarter, supported by strong markets, improved trading efficiency and a higher number of earning days following the delivery of our third and final CABU newbuilding. We enter the fourth quarter with record-high TCE earnings guidance, underpinned by a buoyant tanker market and solid dry bulk earnings. While geopolitical disruption continues to drive market volatility, we remain focused on further strengthening the resilience of our business."
KCC owns and operates a fleet of 19 combination carriers built for the transportation of both wet and dry bulk cargoes. The vessels are operated in trades where they efficiently combine dry and wet cargoes with minimum ballast, capitalizing on imbalances in global trade flows.
Highlights for Third Quarter 2026:
* EBITDA of USD 40.4 million (Q2 2026: USD 38.5 million) and Profit after tax of USD 23.6 million (Q2 2026: USD 20.8 million) * Fleet TCE earnings [1] of $36,116/day (Q2 2026: $37,782/day) * Q3 2026 dividend of USD 0.36 per share, totaling approximately USD 21.4 million (Q2 2026: USD 0.30 per share) * More earning days from newbuilding deliveries and limited dry-docking * Record-high Q4 TCE earnings guidance, with 64% of capacity fixed
The 5% increase in EBITDA and the 14% increase in profit after tax from Q2 to Q3 2026 were mainly driven by a higher number of earning days following the delivery of all three CABU newbuildings and less dry-docking off-hire.
The Board of Directors declares a quarterly dividend of USD 0.36 per share (USD 21.4 million), an increase of 20% from last quarter.
With all 19 vessels in operation, limited dry-docking activity ahead and exceptionally strong product tanker markets, KCC is set to deliver a record quarterly result in Q4. Based on current fixed days equal to 74% of fleet capacity for the CABU fleet, 50% of fleet capacity fixed for the CLEANBU fleet and KCC's best estimates for open days, Q4 2026 TCE earnings guidance for the CABU fleet is $43,000 - 48,000 $/day and 57,000 -- 67,000 $/day for the CLEANBU fleet. Annual contract negotiations are ongoing, and KCC expects to conclude 2026 with a solid contract book, further strengthening the Company's resilience amid medium-term market uncertainty. ------------------------------------------------------------------------------ [1] TCE earnings $/day is an alternative performance measure (APM) defined and reconciled in the excel sheet published together with the Company's Q3 2026 report on the Investor Relations section of www.combinationcarriers.com (https://www.combinationcarriers.com/).
[2] Estimate based on booked cargoes and expected employment and rate for open days. ------------------------------------------------------------------------------ Invitation to presentation of Q3 2026 financial results: In connection with the release of financial results for the third quarter of 2026, Klaveness Combination Carriers ASA ("KCC") will hold a webcast presentation at 09:00 CET on Tuesday 27 October 2026.
To follow the webcast live go to www.combinationcarriers.com/investor-relations (https://torvaldklaveness.sharepoint.com/sites/CorporateCommunications/Delte%20dokumenter/Klaveness%20Combination%20Carriers%20ASA/Quarterly%20Presentations/Q3%202026/www.combinationcarriers.com/investor-relations) or copy and paste the following link to your browser: https://www.combinationcarriers.com/kcc-q3-2026-financial-results
Questions for the Q&A session can be submitted in writing through the webcast solution during the presentation.
For further queries, please contact: Engebret Dahm, CEO, tel.: +47 957 46 851 Liv Dyrnes, CFO and Deputy CEO, tel.: +47 976 60 561
About Klaveness Combination Carriers ASA: KCC is the world leader in combination carriers, owning and operating 11 CABU and eight CLEANBU combination carriers. KCC's combination carriers are built for transportation of both wet and dry bulk cargoes, being operated in trades where the vessels efficiently combine dry and wet cargoes with minimum ballast. Through their high utilization and trading efficiency, the vessels emit up to 35% less CO2 per transported ton compared to standard tanker and dry bulk vessels in current and targeted combination trading patterns.