Euronav NV listed on Euronext Brussels as well as the New York Stock Exchange under the unique code ‘CMBT’ is set to make significant strides in 2024 with strategic fleet expansion and an unwavering commitment to sustainability.
Euronav NV, which will change its name to CMB.TECH NV on October 1, is poised to strengthen its position in the global shipping market with new vessel orders.
The owner expanded its fleet of Windcat Offshore with an additional commissioning service operations vessel (CSOV) on order. This is the sixth order for the future-proof Elevation Series CSOV developed together with Damen.
The 87 x 20-metre vessel will accommodate 120 people, whilst the delivery of the first CSOV is scheduled for next year.
The Euronav NV and CMB.TECH group with a fleet portfolio of more than 160 ocean-going vessels (including newbuildings) in dry bulk segment, container shipping, chemical tankers, offshore wind and oil tankers, placed vessel orders at reputable shipyards.
Earlier this year, CMB.TECH and Damen signed a collaboration agreement for four hydrogen-powered tugboats.
Built by Damen, these vessels use CMB.TECH’s dual fuel hydrogen technology that will significantly reduce emissions, as expected by the company. Earlier that day, class society Lloyd’s Register presented CMB.TECH and Damen with an approval in principle for the hydrogen solution that will be installed in the tugs.
Together with Gdansk based shipyard ALU International, FRS Windcat Polska has ordered two hydrogen-ready newbuild CTVs, dedicated to the Polish offshore wind industry. The contract includes the option to order additional vessels at a later stage.
The CTVs will have Windcat’s newest MK5 vessel design, with the vessels being delivered in 2025.
Euronav chief executive Alexander Saverys said regarding the company’ second quarter results: “The transformation of Euronav to CMB.TECH is in full swing: we have completed the sale of older tankers, we have added accretive time charters to our portfolio, we have taken delivery of 7 future proof newbuildings, and contracts were signed for 3 offshore wind vessels and 4 new tugboats to strengthen our portfolio of hydrogen-powered ships.
“During these very busy times, we have realised another strong result in Q2 bringing our YTD net profit to 679.6 million USD. It’s full steam ahead at CMB.TECH to decarbonise today, navigate tomorrow.”
In a notable development, Euronav has completed the sale of Euronav Ship Management Hellas (ESMH) to Anglo Eastern. This transaction has realised a capital gain of approximately $20m.
