CMB.TECH Updates on Golden Ocean Merger and Vessel Sales
CMB.TECH provides a business update on its merger with Golden Ocean, vessel sales, and revised earnings announcement dates.
Recent Developments
CMB.TECH NV has released a business update following significant events, including two recent Capital Markets Days held with Golden Ocean in Antwerp and Oslo. The company has successfully sold three very large crude carriers (VLCCs) as a part of its fleet rejuvenation, netting a capital gain of $96.7 million. These vessels are slated for delivery to their new owners later this year. In preparation for the upcoming merger with Golden Ocean, CMB.TECH will also adjust its earnings announcement dates, with Q1 results set for May 21 and Q2 results for August 28. The company operates a fleet of over 150 vessels globally and is engaged in the provision of hydrogen and ammonia fuel through either its production or partnerships.
Strengths
- The successful hosting of two Capital Markets Days with Golden Ocean may enhance investor confidence and promote greater transparency.
- By selling three VLCCs, CMB.TECH implemented a successful fleet rejuvenation strategy, resulting in a total capital gain of $96.7 million.
- The decision to synchronize earnings announcement dates with Golden Ocean points to strategic integration post-merger, likely boosting financial reporting clarity.
Concerns
- The announcement of a Stock-for-Stock merger with Golden Ocean might raise questions regarding the company’s independence and future direction.
- Possible legal actions following the Market Court’s decision may introduce uncertainties that could impact financial performance and operations.
- Forward-looking statements contain significant uncertainties and risks that may affect the ability to meet stated goals and projections.
FAQs
What recent announcements has CMB.TECH made?
CMB.TECH announced a Stock-for-Stock merger with Golden Ocean and hosted Capital Markets Days in Antwerp and Oslo.
What vessels did CMB.TECH sell recently?
CMB.TECH sold three VLCCs: Iris, Hakata, and Hakone, leading to a total capital gain of $96.7 million.
When will CMB.TECH announce its Q1 2025 earnings?
CMB.TECH will announce its Q1 2025 earnings on May 21, 2025.
Where is CMB.TECH headquartered?
CMB.TECH is headquartered in Antwerp, Belgium, with additional offices across Europe, Asia, the United States, and Africa.
How does CMB.TECH handle forward-looking statements?
CMB.TECH includes cautionary statements to safeguard its forward-looking statements in accordance with the Private Securities Litigation Reform Act of 1995.
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Full Release
Antwerp, April 30, 2025 (GLOBE NEWSWIRE) —
CMB.TECH NV (“CMBT”, “CMB.TECH” or “the Company”) (NYSE: CMBT & Euronext: CMBT)
provides a business update following recent announcements. The company held two Capital Markets Days in conjunction with Golden Ocean, sold three VLCCs for its fleet rejuvenation, and will
align earnings announcement dates as it consolidates Golden Ocean’s financial results.
Capital Markets Days
Following the
announcement on April 22
of the signed term sheet for a Stock-for-Stock merger with Golden Ocean, with CMB.TECH as the surviving entity, both companies hosted Capital Markets Days in Antwerp, Belgium on April 24, 2025 and Oslo, Norway on April 29, 2025. Presentations, recordings, and transcripts of these events are accessible on the
CMB.TECH website.
Vessel Update
CMB.TECH has sold three VLCCs: Iris (2012, 314,000 dwt), Hakata (2010, 302,550 dwt), and Hakone (2010, 302,624 dwt) as part of its fleet rejuvenation. This transaction resulted in a total capital gain of $96.7 million, with vessel delivery scheduled for later this year.
Change in Publication Date for Earnings Releases
Due to the consolidation of Golden Ocean’s financial results, CMB.TECH has decided to align the dates for announcing its first and second quarter 2025 earnings. Q1 2025 earnings will be announced on May 21, 2025, and Q2 2025 earnings will be released on August 28, 2025.
Announcement Q1 2025 results – May 21, 2025
About CMB.TECH
CMB.TECH is a diversified maritime group operating over 150 vessels, including crude oil tankers, dry bulk vessels, container ships, chemical tankers, and offshore wind vessels. The company also provides hydrogen and ammonia fuel through its own production or third-party suppliers.
The company is headquartered in Antwerp, Belgium, with operations throughout Europe, Asia, the United States, and Africa.
CMB.TECH is publicly traded on Euronext Brussels and NYSE, under the ticker symbol CMBT.
For more information, please visit CMB.TECH.
Forward-Looking Statements
The matters discussed in this press release may include forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for such statements, encouraging companies to share future prospects. These forward-looking statements comprise plans, goals, strategies, and other potential developments that go beyond historical facts. The Company seeks to leverage these protections and includes this cautionary statement accordingly.
Forward-looking statements are based on various assumptions, many of which are contingent upon further projections by corporate management. While these assumptions are deemed reasonable at the time of their formulation, they are subject to significant uncertainties. Thus, there is no guarantee that expectations will be met.
Additionally, other critical factors that may lead to actual results differing significantly from those implied in forward-looking statements include potential legal actions concerning the Market Court’s decision, outcomes of proceedings in Antwerp’s Enterprise Court, counterparty performance, market conditions including charter rates and vessel values, operating expenses, and other unforeseen factors. For a comprehensive discussion of risks, refer to the Company’s filings with the U.S. Securities and Exchange Commission.
