en.Wedoany.com Reported - CMB.Tech announced the sale of two Suezmax tankers built in 2023 to capitalize on the current strong tanker market conditions.

The two vessels, the Greek-flagged Brest and the Belgian-flagged Brugge, are expected to be delivered to their new owners in the third quarter of this year. CMB.Tech stated in a press release that the transaction is expected to generate a capital gain of approximately $100.5 million.

CMB.Tech CEO Alexander Saverys said that historically strong Suezmax tanker valuations have created an opportunity to unlock value at an attractive point in the cycle.

The sale of these two three-year-old vessels differs from the sale of 11 vessels mentioned in the company's first-quarter report. The youngest vessel sold in the first quarter was built in 2016. The disposal of eight Very Large Crude Carriers (VLCCs), two Capesize bulk carriers, and one Suezmax tanker announced in that quarter's financial report is expected to generate $534.8 million in proceeds from what Saverys called a "white-hot tanker market."

CMB.Tech does not hide its strategy of securing substantial returns for older vessels in a strong market while continuing its fleet renewal program. As of May 11 this year, the company has taken delivery of two VLCCs, two Suezmax tankers, one chemical tanker, one Newcastlemax bulk carrier, and one CSOV (Commissioning Service Operation Vessel).

Last week, Fortescue announced it had partnered with CMB.Tech to charter 12 ammonia-ready bulk carriers from the shipowner. This includes three ammonia dual-fuel vessels to be delivered this year, followed by nine ammonia-ready vessels.