CMB.TECH: Net Profit of $368.8M in Q1 2026, Boosted by Ship Sales
CMB.TECH reported a net profit of $368.8 million for the first quarter of 2026, up from $40.4 million a year earlier. The maritime group also achieved an EBITDA of $558.3 million and a revenue of $519.6 million. This significant growth includes a gain of $267.4 million from the sale, relating to the delivery to new owners of two Capesize and six VLCC during the quarter. CMB.TECH also announces its intention to distribute $0.64 per share, subject to applicable approvals and procedures.
Quarterly Results Significantly Driven by Disposals
CMB.TECH achieved a net profit of $368.8 million in the first quarter of 2026, compared to $40.4 million in the first quarter of 2025. Earnings per share were $1.27, up from $0.23 a year earlier. The EBITDA, a non-IFRS indicator, reached $558.3 million, compared to $158.4 million in the same period of 2025. Revenue was $519.6 million, up from $235.0 million a year earlier. The quarter was notably marked by a net gain of $267.4 million on the disposal of tangible assets. According to the press release, this amount corresponds to the delivery to new owners of two Capesize, Golden Magnum and Belgravia, and six VLCCs: Daishan, Hirado, Hojo, Dia, Antigone, and Aegean.
High Charter Rates in Tankers and Dry Bulk
The average daily rates published by CMB.TECH reflect a favorable market environment across several segments. VLCCs show an average spot rate of $70,204 per day in the first quarter of 2026, up from $35,101 a year earlier. Suezmax vessels reached $91,849 per day, compared to $41,391 in the first quarter of 2025. In dry bulk, Newcastlemax vessels recorded a rate of $28,120 per day, up from $18,393 a year earlier. Chemical tankers posted an average spot rate of $21,458 per day, while CSOVs in the offshore energy activity reached $64,837 per day. The press release particularly attributes the strength of the tanker market to a historically high spot market and disruptions in maritime flows due to geopolitical tensions in the Middle East.
An Intention to Distribute $0.64 per Share
CMB.TECH indicates that its supervisory board intends to approve a total distribution of $0.64 per share. This would consist of an interim dividend of $0.20 per share and a first payment of $0.44 per share drawn from the share premium reserve. This distribution remains subject to the approval of the general meeting scheduled for May 21, 2026, for the part related to the share premium reserve, as well as the completion of the procedures provided by Belgian law concerning the interim dividend. The group specifies that it will communicate the practical terms of payment once the distribution is effectively approved.
