Klaveness Combination Carriers reports strong Q3 results, boosts dividend

Klaveness Combination Carriers ASA announced a robust third quarter for 2025, with EBITDA reaching $24.0m and EBT at $12.0m, marking a 33% and 79% increase respectively from Q2 2025. This performance was bolstered by CABU TCE earnings of $30,062/day, outperforming the MR index by 40%, and CLEANBU TCE earnings of $27,740/day, exceeding the LR1 index by 10%. The company declared a Q3 2025 dividend of $0.12 per share, totaling $7.1m.

The strong results are attributed to improved market conditions, higher cargo intake, and efficient trading, with 95% of CABU days in combination trades and only 11% ballast days. The CLEANBU fleet also saw increased capacity in profitable trades, including clean petroleum products. KCC anticipates stable performance in Q4 2025, guiding TCE earnings of $30,000-$31,000/day for CABU and $27,000-$29,000/day for CLEANBU. The first of three newbuild CABU vessels, MV Balder, was launched and is expected to join the fleet in February 2026.