Klaveness Combination Carriers posts Q3 2020 results
Klaveness Combination Carriers ASA (KCC) delivered a positive EBITDA of 9,8 million US dollar in the third quarter of 2020, and a positive bottom line of 1,3 million US dollar, the company said in its release.
KCC has a fleet of 14 combination carriers on water and 3 newbuildings under construction which are built to combine both tanker and dry bulk cargoes.
KCC’s solutions reduce the CO2 emissions by 30-40 % compared to a standard tanker and dry bulk vessels in the same trading pattern and enable large cuts in the carbon emissions from our customers supply chains. As the results from the third quarter demonstrate, KCC delivers superior earnings and profitability when compared to standard dry bulk and tanker vessels.
Klaveness Combination Carriers publishes their results for the third quarter today, with the following highlights:
TCE earnings more than double of standard tankers
Adjusted EBITDA of USD 9.8 million for the quarter despite weaker tanker market, dry docking of two vessels and COVID-19 effects
Dividend payments maintained at USD 0.03 per share (total USD 1.44 million) for Q3
Expansion of the trading pattern of KCC’s new CLEANBU vessels with two new combination trades
Successful tap issue of NOK 200 million under existing senior unsecured bonds
KCC recently signed the Sea Cargo Charter together with 14 of the world’s largest shipping customers where the signatories have committed to a standardized reporting of the CO2 emissions from shipping and a benchmarking against IMO’s emission reduction trajectory up to 2030/2050.