Klaveness Combination Carriers ASA (KCC) delivered one of its best performances in history in the third quarter of 2026, reporting EBITDA of $40.4 million and a net profit of $23.6 million. This strong performance was attributed to robust markets, improved operational efficiency, and an increase in revenue-generating days following the delivery of the third and final new CABU vessel.
Financial Performance and Future Forecasts
KCC's CEO, Engbert Dahm, stated: "KCC has had another strong quarter, bolstered by strong markets and improvements in operational efficiency. We are entering the fourth quarter with record-high TCE (Time Charter Equivalent) revenue forecasts. While geopolitical uncertainties continue to cause market fluctuations, we are focused on strengthening the resilience of our business."
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Details of Q3 2026 Performance
KCC's performance in Q3 2026 includes the following:
- EBITDA of $40.4 million (Q2 2026: $38.5 million)
- Net profit of $23.6 million (Q2 2026: $20.8 million)
- Daily TCE revenue for the fleet of $36,116 (Q2 2026: $37,782)
- Q3 2026 earnings per share of $0.36, approximately $21.4 million (Q2 2026: $0.30 per share)
The 5% increase in EBITDA and 14% increase in net profit from Q2 to Q3 2026 were due to the increase in revenue-generating days with the delivery of all three new CABU vessels and reduced dry-docking activities.
Revenue Forecast for Q4
With 19 active vessels, limited dry-docking activities, and strong oil product markets, KCC is poised to deliver a record result in Q4. Based on current fixed days equivalent to 74% of the CABU fleet capacity and 50% for the CLEANBU fleet, the TCE revenue forecast for the CABU fleet is expected to be between $43,000 and $48,000 per day, and for the CLEANBU fleet between $57,000 and $67,000 per day. Annual contract negotiations are ongoing, and KCC expects to end 2026 with a strong contract book that enhances the company's resilience against mid-term market uncertainties.
On the occasion of the release of Q3 2026 financial results, Klaveness Combination Carriers ASA will host a webcast where questions can be submitted in writing during the presentation.
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