CMB.Tech Sells Two Suezmax Tankers, Gains $100.5M in Profits in Q3
CMB.Tech announced on Monday the sale of two Suezmax tankers built in 2023, realizing a profit of approximately $100.5M in the third quarter. The maritime transport group reaffirms its intention to reinvest these funds in accordance with its capital allocation strategy.
CMB.Tech has sold the vessels Brest and Brugge, two Suezmaxes each with a deadweight capacity of 156,851 tons, launched in 2023. This transaction will generate a book profit of about $100.5M for the third quarter of 2026, calculated based on the net sale price and book values. The two ships will be delivered to their new owner during this quarter. Alexander Saverys, CEO of CMB.Tech, justified this operation by 'historically strong Suezmax valuations' which created an 'opportunity to generate value at a favorable point in the cycle'.
Reinvestment of Funds According to Group Strategy
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CMB.Tech intends to reinvest the proceeds from this sale 'in accordance with its capital allocation strategy', according to the group's terms. The CEO stated that these funds will contribute to the 'continuous growth of our diversified maritime group'. The group, which has a fleet of about 250 vessels (bulk carriers, crude oil tankers, chemical tankers, containerships, and offshore energy ships), will announce its second quarter 2026 results on August 27.
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