FLEET UPDATE

Rhea-AI Summary

CMB.TECH (NYSE & Euronext: CMBT) has announced multiple vessel sales generating a total capital gain of $46.52 million. The transactions include:

- The Suezmax Cap Lara (2007, 158,826 dwt) sale, generating an $18.77 million capital gain, with delivery in Q1 2025

- The VLCC Alsace (2012, 299,999 DWT) delivery to new owner, booking approximately $27.5 million capital gain in Q1 2025

- The Windcat 6 sale after 18 years of service, generating a $0.25 million capital gain, with delivery scheduled for end of January 2025

The company will announce Q4 2024 results on February 27, 2025.

Positive

• Total capital gain of $46.52 million from vessel sales
• Significant gain of $27.5 million from VLCC Alsace sale
• Additional $18.77 million gain from Cap Lara sale

Negative

• Reduction in fleet size and operational capacity

Insights

Maritime Financial Analyst

The announced vessel sales represent a significant strategic move in the current maritime market environment. The total capital gain of 46.52 million demonstrates exceptional timing in vessel sales, particularly for older assets. The 2007-built Suezmax Cap Lara's 18.77 million gain is notably impressive for a 16-year-old vessel, suggesting strong current demand for mature tonnage in the Suezmax segment.

The VLCC Alsace transaction's 27.5 million capital gain is particularly noteworthy, as 2012-built VLCCs are currently highly sought after due to their optimal age profile balancing remaining economic life with attractive acquisition costs. The successful execution of these sales indicates robust second-hand market conditions and effective timing by management.

These divestments will strengthen CMB.TECH's balance sheet and provide substantial liquidity for potential fleet renewal or strategic initiatives. The timing of these sales, with deliveries scheduled for Q1 2025, positions the company well for the current year, with significant gains being booked early in the fiscal period. The sale of the Windcat 6 after 18 years of service, while generating a modest 0.25 million gain, demonstrates disciplined asset management across all vessel categories.

Antwerp, Belgium, Jan. 28, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (“CMBT”, “CMB.TECH” or “the Company”) (NYSE: CMBT & Euronext: CMBT) has sold different vessels, generating a capital gain of 46.52 million USD in total.

Euronav
CMB.TECH has sold the Suezmax Cap Lara (2007, 158,826 dwt). The sale will generate a capital gain of 18.77 million USD. The vessel will be delivered to the new owner during the first quarter of 2025.

The VLCC Alsace (2012 – 299,999 DWT) has successfully been delivered to its new owner. A capital gain of approximately USD 27.5 million will be booked in Q1 2025. 

Windcat
The Windcat 6 has also been sold, after 18 years of service. The sale will generate a capital gain of 0.25 million USD. The vessel will be delivered to its new owner at the end of January 2025.

Announcement Q4 2024 results – 27 February 2025

About CMB.TECH

CMB.TECH (all capitals) is a diversified and future-proof maritime group. We own and operate more than 160 seagoing vessels: crude oil tankers, dry bulk vessels, container ships, chemical tankers, offshore wind vessels, tugboats and ferries. We also offer hydrogen and ammonia fuel to customers, through own production or third-party producers.

The company is headquartered in Antwerp, Belgium, and has offices across Europe, Asia, United States and Africa.

CMB.TECH is listed on Euronext Brussels and the NYSE under the ticker symbol CMBT.

More information can be found at https://cmb.tech

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbour legislation. The words “believe", “anticipate”, “intends”, “estimate”, “forecast”, “project”, “plan”, “potential”, “may”, “should”, “expect”, “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include potential legal actions by other parties relating to the Market Court’s decision, the outcome of the proceedings pending before the Enterprise Court in Antwerp, the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

Attachment

• Fleet update

FAQ

How much total capital gain will CMBT generate from its recent vessel sales?

CMB.TECH will generate a total capital gain of $46.52 million from its recent vessel sales, including the Cap Lara, VLCC Alsace, and Windcat 6.

When will CMBT deliver the Suezmax Cap Lara to its new owner?

The Suezmax Cap Lara will be delivered to its new owner during the first quarter of 2025.

What is the capital gain from the VLCC Alsace sale for CMBT?

The sale of the VLCC Alsace will generate approximately $27.5 million in capital gain, to be booked in Q1 2025.

When will CMBT announce its Q4 2024 financial results?

CMB.TECH will announce its Q4 2024 results on February 27, 2025.

How much will CMBT gain from the Windcat 6 sale?

The sale of Windcat 6 will generate a capital gain of $0.25 million for CMB.TECH.