KCC Second Quarter 2022 – All-time High Financial Results
Image: Engebret Dahm, CEO Klaveness Combination Carriers ASA
Oslo, 26 August 2022: Klaveness Combination Carriers ASA (“KCC”) reports record-breaking results for second quarter 2022 with EBITDA of USD 26.6 million and EBT of USD 16.2 million. KCC fired on all cylinders this quarter with strong tanker, dry bulk and fuel markets paired with a high degree of combination trading, says CEO Engebret Dahm.
KCC reports an exceptional quarter in Q2 2022 with TCE earnings delivering the highest rates for over a decade. With the highest fuel prices in decades, KCC’s market leading energy and trading efficiency strategy proved its value in a quarter that also saw continued improvements in emission performance and a substantially expanded CLEANBU customer base, adds Dahm.
Highlights for second quarter 2022:
Q2 average fleet TCE earnings of 30 235 $/day, the highest rates since 2011
All-time high quarterly results with EBT of USD 16.2 million and EBITDA of USD 26.6 million
Six new CLEANBU Clean Petroleum Product customers secured YTD
Continued improvement in emissions performance
Dividend of USD 0.23 per share (USD 12 million), 28% increase from Q1 2022
APM: TCE earnings per on-hire day is an alternative performance measure (APM), further described and reconciled in the quarterly report for Q2 2022, appendix 1 (page 27).
Invitation to presentation of Q2 2022 financial results:
In connection with the release of financial results for the second quarter of 2022, Klaveness Combination Carriers ASA (“KCC”) will hold a webcast presentation at 09:00 CEST on Friday 26 August.
To follow the webcast live go to www.combinationcarriers.com/investor-relations or https://www.combinationcarriers.com/kcc-q2-2022-financial-results. Questions for the Q&A session can be submitted in writing through the webcast solution during the presentation.
About Klaveness Combination Carriers ASA:
KCC is the world leader in combination carriers, owning and operating eight CABU and eight CLEANBU combination carriers. KCC’s combination carriers are built for transportation of both wet and dry bulk cargoes, operating in trades where the vessels efficiently combine dry and wet cargoes with minimum ballast. Through their high utilization and efficiency, the vessels emit up to 40% less CO2 per transported ton compared to standard tanker and dry bulk vessels in current and targeted combination trading patterns.
For further queries, please contact:
Engebret Dahm, CEO
Telephone: +47 957 46 851
Liv Dyrnes, CFO
Telephone: +47 976 60 561