Norway's Klaveness Q1 profit jumps as Midest conflict drives tanker market

Klaveness Combination Carriers ASA

28/04/2026 06:12

Overview

Norway combination carrier's Q1 EBITDA rose 30% Q/Q, profit after tax up 51%

Company declared Q1 dividend of $0.25 per share, up from $0.08 prior quarter

Results driven by higher CLEANBU TCE earnings and more on-hire days

Outlook

Klaveness expects Q2 2026 results to strengthen, driven by firm product tanker rates

CABU fleet TCE guidance for Q2 2026 is $32,500-34,500/day

CLEANBU fleet TCE guidance for Q2 2026 is $49,000-54,000/day

Result Drivers

HIGHER CLEANBU TCE EARNINGS - Co said Q1 results were mainly driven by higher CLEANBU TCE earnings

MORE ON-HIRE DAYS - Co cited more on-hire days due to new vessel delivery and less dry-docking off-hire

MARKET DISRUPTION RESPONSE - Co said it captured value from buoyant tanker markets and adjusted trading patterns due to Middle East conflict

Company press release: ID:nMFNbN3Fx6

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Dividend
$0.25
Q1 EBITDA
$29.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the marine freight & logistics peer group is "buy"

Wall Street's median 12-month price target for Klaveness Combination Carriers ASA is NOK107.00, about 11.1% above its April 27 closing price of NOK96.30

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)