Klaveness Combination Carriers (“KCC”) announces its results for the second quarter of 2020.
Adjusted EBITDA of USD 15.9 million (USD 4.6 million) for Q2 2020 (Q2 2019), 23% higher than last quarter, and Profit after tax of USD 8.4 million (USD -1.9 million) for Q2 2020 (Q2 2019)
CABU TCE earnings of $21,290/d ($15,038/d) and CLEANBU TCE earnings of $30,983/d ($12,905 /d) for Q2 2020 (Q2 2019)
Annualized ROCE of 10% (1%) for Q2 2020 (Q2 2019) despite five vessels under construction
Fully financed after having signed a sustainability linked bank facility for the 2021 newbuilds
The Company’s board of directors declares dividend payment of USD 0.03 per share (total USD 1.44 million) for Q2
Engebret Dahm, CEO Klaveness Combination Carriers ASA, says:
“We are pleased to report strong results and operational performance for the second quarter. The earnings outlook for the remaining part of the year is positive, despite a historical weak tanker market and the COVID-19 situation. Our performance and outlook demonstrate the value of our combination carrier concepts including the vessels’ trading flexibility, diversified market exposure and solid contract coverage”.
Source: Klaveness Combination Carriers