Oslo, 31 October 2023: Klaveness Combination Carriers ("KCC") reports a
continued strong financial performance for the third quarter of 2023, with EBT
of USD 16.3 million and EBITDA of USD 27.9 million. The results were supported
by record high CABU TCE earnings.

Average TCE earnings for the fleet ended at $32,214/day [1] for the third
quarter. Average TCE earnings for the CABUs hit a record $37,134/day [1], a
solid increase over Q2 driven by high caustic soda volumes and earnings and
efficient trading. Average TCE earnings for the CLEANBUs ended at $27,938/day
[1], the decrease from Q2 reflected the seasonally weaker tanker and dry bulk
markets.

The quarter also marked further progress on KCC's commitment to deliver
cost-effective decarbonization to our customers, with the CABU vessel MV Ballard
successfully completing installation of an air lubrication system in combination
with shaft generator and other energy efficiency measures. This is expected to
improve fuel consumption by around 15%.

"KCC continued its strong value creation through seasonally weaker markets in
Q3, a testament to our resilient business model. Looking to the fourth quarter,
we anticipate an uptick in earnings and profitability driven by stronger product
tanker and dry bulk markets and strong trading and operational efficiency", adds
CEO Engebret Dahm.

CABU TCE earnings guiding [2] for Q4 2023 is $34,500-35,500/day and
$32,000-34,000/day for the CLEANBUs.

Highlights for Third Quarter 2023:
o	EBT of USD 16.3 million and EBITDA of USD 27.9 million
o	Record high CABU TCE earnings, slightly lower CLEANBU TCE earnings Q-o-Q
o	Seasonally weaker tanker and dry bulk markets
o	NOK 500 million sustainability-linked bond issue secured
o	Energy efficiency measures installed on MV Ballard delivering estimated 15%
lower fuel consumption
o	The Board of Directors of KCC declares dividend of USD 0.25 per share (USD
15.1 million in total)
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[1] TCE earnings $/day are alternative performance measures (APMs) which are
defined and reconciled in the excel sheet "APM3Q2023" published on the Company's
homepage Investor Relations/Reports and Presentations under the section for the
Q3 2023 report. The address to the Company's homepage is
www.combinationcarriers.com.
[2] Estimate based on booked cargoes and expected employment for open capacity
basis forward freight pricing (FFA).
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Invitation to presentation of Q3 2023 financial results
In connection with the release of financial results for the third quarter of
2023, Klaveness Combination Carriers ASA ("KCC") will hold a webcast
presentation at 09:00 CET on Tuesday 31 October.
To follow the webcast live go to www.combinationcarriers.com/investor-relations
or copy and paste the following link to your browser:
https://www.combinationcarriers.com/kcc-q3-2023-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 with three CABU vessels under
construction for delivery in 2026. KCC's combination carriers are built for
transportation of both wet and dry bulk cargoes, being operated 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