# Klaveness Combination Carriers reports stronger earnings and record fourth-quarter outlook

- **Source:** https://pelavox.com/klaveness-q3-2026-earnings-record-outlook/
- **Publisher:** pelavox. (The voice of shipping)
- **Author:** Jason Nicholson
- **Published:** 2026-10-28T08:00:00+00:00
- **Updated:** 2026-10-27T12:51:07+00:00
- **Section:** Business / Company Results
- **Type:** News
- **Topics:** Combination Carriers, Dry Bulk, KCC, Klaveness Combination Carriers, Shipping Earnings, Tanker Markets

Klaveness Combination Carriers (KCC) reported higher earnings in the third quarter of 2026, supported by an increase in earning days following the delivery of its final CABU newbuilding and reduced vessel downtime for dry-docking.

The Norwegian shipping company recorded EBITDA of $40.4 million, compared with $38.5 million in the previous quarter, while profit after tax increased to $23.6 million from $20.8 million. The improvements of approximately 5% and 14%, respectively, reflected greater vessel availability across its fleet.

Average fleet time charter equivalent (TCE) earnings stood at $36,116 per day, compared with $37,782 per day in the second quarter. Despite the decline in average daily earnings, the higher number of earning days supported the improvement in the company’s financial results.

## Fleet expansion supports quarterly performance

KCC now operates a fleet of 19 combination carriers designed to transport both wet and dry bulk cargoes. The vessels are deployed in trading patterns that combine different cargo types while minimizing ballast voyages.

The delivery of the third and final CABU newbuilding increased the number of available earning days during the quarter. Reduced dry-docking activity also contributed to the company’s operating performance.

Chief Executive Officer Engebret Dahm said the quarter benefited from strong shipping markets, improved trading efficiency and the additional capacity provided by the completed newbuilding programme.

The Board of Directors declared a quarterly dividend of $0.36 per share, representing a total distribution of approximately $21.4 million. The payment is 20% higher than the previous quarter’s dividend of $0.30 per share.

## Record earnings guidance for fourth quarter

Looking ahead, KCC expects exceptionally strong product tanker markets and solid dry bulk earnings to support its fourth-quarter performance.

The company has issued TCE earnings guidance of $43,000–$48,000 per day for its CABU fleet and $57,000–$67,000 per day for its CLEANBU vessels.

The forecasts are based on already contracted employment and estimates for remaining open vessel capacity. At the time of the announcement, approximately 74% of CABU capacity and 50% of CLEANBU capacity had been fixed, equivalent to 64% of total fleet capacity.

With all 19 vessels in operation and limited scheduled dry-docking activity ahead, KCC expects its fourth-quarter performance to benefit from both fleet availability and favourable freight market conditions.

The company is also negotiating annual contracts and expects to conclude 2026 with a solid contract portfolio. KCC nevertheless acknowledged that geopolitical developments continue to create volatility and uncertainty across shipping markets.

The fourth-quarter figures remain forward-looking estimates rather than realized earnings and will depend partly on market conditions affecting the fleet’s remaining open capacity.

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Cite as: "Klaveness Combination Carriers reports stronger earnings and record fourth-quarter outlook", pelavox., 28 October 2026, https://pelavox.com/klaveness-q3-2026-earnings-record-outlook/