CMBT News & Events

Benoit Timmermans has decided to resign as member of the management board of CMB.Tech with effect as of May 1. Benoit Timmermans joined the management board of CMB.Tech as chief strategy officer and has assisted the company in the transition from a pure-play crude oil tanker player to a large and diversified maritime group. For the time being, Timmermans will not be replaced. His responsibilities will be taken over by the current members of the management board.

Reports Q4 revenue $589.12M, consensus $450.29M. Commenting on the Q4 results, Alexander Saverys said: "Tanker markets continue to defy gravity due to a mix of shifting trade patterns, modest newbuilding deliveries and a particularly active tanker owner/operator who is adding fuel to the fire. Dry bulk freight rates have also held up very well during Q4 and well into Q1. With two CSOVs delivered to our fleet, we are starting to generate meaningful cash flows in the offshore supply markets. The versatile nature of our ships allows us to serve wind and oil and gas customers alike."

CMB.Tech announced the company is investing in the Chinese ammonia supply chain. CMB.Tech has signed an off-take agreement for green ammonia produced by CEEC Hydrogen Energy in Jilin Province and will own a minority share in privately owned Jiangsu Andefu Energy Technology. CMB.Tech will purchase green ammonia produced in Jilin Province by the CEEC Songyuan project under an off-take agreement. In the first phase of the CEEC Songyuan project, approximately 158,000 tons of renewable ammonia will be produced annually. Construction of the project was completed at the end of September and commercial operation is planned for January 2026. The project is mainly powered by off-grid renewable energy and supported by batteries and hydrogen buffer storage. CEEC appointed Bureau Veritas for the certification audit, and the project obtained ISCC EU RFNBO certification on December 2. CMB.Tech will also acquire a minority stake in Andefu, one of China's largest ammonia supply chain companies. This will create an industrial partnership between two companies supporting maritime decarbonization and the development of a green ammonia supply infrastructure. A subsidiary of Andefu, Jiangsu Andefu Storage, is currently constructing a 49,000 m low-temperature ammonia storage tank in Nanjing, providing critical hub capacity for ammonia distribution and future marine fuel applications. The storage tank is scheduled to be commissioned in Q1 2026. In addition, Andefu, in cooperation with CEEC, will build an ammonia storage terminal into operation in Panjin in the second half of 2027. Andefu is also advancing ship-to-ship ammonia bunkering operations, targeting commercial deployment in 2026, to support the emerging global ammonia-fueled shipping fleet together with CMB.Tech. CMB.Tech will take delivery of 11 ammonia-powered ships next year. Ten Newcastlemax bulkers being built at Qingdao Beihai Shipyard and one 1,400 TEU container vessel being built at China Merchants Industry Weihai will deliver during 2026. The ships will be powered by a dual-fuel diesel-ammonia main engine and carry ammonia as a fuel onboard. This will enable the vessels to sail in dual fuel ammonia configuration for both propulsion and other power requirements between ports.