Corporate Highlights - CMB.TECH completed its merger with Golden Ocean on August 20, 2025, significantly expanding its fleet to approximately 250 vessels, including 89 dry bulk vessels [4][6][18] - The company has declared an interim dividend of USD 0.05, payable on or about October 9, 2025 [9][10] - The Supervisory Board has undergone changes, with Mr. Marc Saverys resigning and Mr. Patrick de Brabandere appointed as chairman [6][21][22] Financial Highlights - For Q2 2025, CMB.TECH reported a net loss of USD 7.6 million, compared to a net gain of USD 184.4 million in Q2 2024 [3][6] - Revenue for Q2 2025 was USD 387.8 million, up from USD 252 million in Q2 2024, while year-to-date revenue reached USD 622.9 million compared to USD 492.4 million in the previous year [5][6] - EBITDA for Q2 2025 was USD 224.1 million, down from USD 261.2 million in Q2 2024 [3][8] Fleet Highlights - The company has a contract backlog of approximately USD 2.93 billion, providing solid revenue visibility [6][27] - CMB.TECH's fleet includes a diverse range of vessels, with over 80 hydrogen- and ammonia-ready vessels, and an estimated fair market value of approximately USD 11.1 billion [27] - The average age of the fleet is 6.1 years, indicating a young and fuel-efficient fleet [27] Market & Outlook - The tanker markets experienced volatility in Q2 2025, with average earnings reaching a five-month low in mid-June but rebounding sharply to USD 47,519/day by June 20 [30] - China's crude oil imports showed a decline in Q2 2025, reflecting a shift in the country's energy demand profile, which may have lasting implications for global oil trade [31][32] - The Capesize market remains supported by strong iron ore demand, particularly from China, which accounted for 76.4% of total seaborne iron ore volumes in H1 2025 [37]
CMB.TECH announces Q2 2025 results