Belgium's CMB.TECH Sells a Suezmax Tanker for $29.2 Million
2026-05-21 18:35
Favorite

en.Wedoany.com Reported - CMB.TECH has announced new charter contracts for three Suezmax tankers, while the company is also set to realize substantial proceeds from the sale of two Very Large Crude Carriers (VLCCs) and one Suezmax tanker. The company, controlled by the Saverys family, is listed on Euronext Brussels, the New York Stock Exchange (NYSE), and Euronext Oslo Børs.

Based on the net sale price and book value, CMB.TECH expects to record a capital gain of approximately $98.2 million in the second quarter of 2026 from the sale of the two 2012-built, 314,000 dwt VLCCs "Ilma" and "Ingrid". As part of a broader fleet renewal and portfolio reshaping strategy, the company also sold the 2007-built, 150,205 dwt Suezmax tanker "Sienna". This sale will generate a gain of $29.2 million, expected to be recognized upon delivery in the second quarter of 2026. All three vessels are scheduled for delivery to their new owners in the second quarter of 2026.

These three transactions follow a series of vessel sales completed by CMB.TECH earlier this year. In the first quarter of 2026, the company delivered two Capesize bulk carriers and six VLCCs to new owners, generating total capital gains of approximately $267.4 million.

Alongside the vessel sales, the company also announced new charters in the Suezmax segment. The 2011-built, 165,000 dwt Suezmax tanker "Cedar" secured a five-year time charter contract. Two other 2026-built Suezmax tankers (156,000 dwt) each received one-year charter extensions, resulting in 10-year time charter contracts respectively: "Cap Grace" and "Cap Joseph" (including profit sharing).

CMB.TECH stated that its contract backlog has increased by $109 million, reaching $3.26 billion.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com