Financial Highlights - CMB.TECH reported a net gain of USD 90.1 million or USD 0.31 per share for Q4 2025, compared to a net gain of USD 93.1 million or USD 0.48 per share in Q4 2024 [2][6] - EBITDA for Q4 2025 was USD 322.1 million, significantly higher than USD 180.4 million in Q4 2024 [2][6] - Revenue for Q4 2025 reached USD 589.1 million, up from USD 226.0 million in Q4 2024 [5] Fleet Highlights - The company’s contract backlog increased by USD 304 million to USD 3.05 billion, with new charters for Capesize vessels and a CSOV [6][22] - CMB.TECH sold eight VLCCs at high prices, generating a total capital gain of approximately USD 261.1 million in Q1 2026 [4][24] - The company delivered six newbuilding vessels, including VLCCs and chemical tankers, during Q4 2025 and early 2026 [6][25] Corporate Highlights - CMB.TECH declared an interim dividend of USD 0.16 per share, expected to be paid on or about 27 April 2026 [13] - The company fully repaid a bridge loan facility related to the acquisition of a stake in Golden Ocean, resulting in a one-off charge of USD 13.6 million [12][20] - Management changes included the resignation of Mr. Benoit Timmermans from the Management Board, effective May 1, 2026 [21] Market Outlook - The tanker market remains strong, with VLCC spot earnings averaging USD 102,414 per day in Q4 2025, more than double the 10-year Q4 average [36] - Dry bulk freight rates have also held up well, with Capesize spot earnings averaging about USD 27,120 per day in Q4 2025, 34% higher than the 10-year Q4 average [26][40] - The company is investing in the Chinese ammonia supply chain, partnering with CEEC Hydrogen Energy to support maritime decarbonization [18][19]

Core Insights - Uni-Fuels Holdings Limited has opened a new office in Limassol, Cyprus, marking its first office in Europe and emphasizing its commitment to expanding its international presence [1][2] - The Limassol office is part of a broader strategy to enhance operational agility and provide localized expertise, facilitating reliable fuel delivery across high-demand corridors [2][3] Company Expansion - The establishment of the Limassol office is a significant milestone in Uni-Fuels' global expansion, complementing its existing offices in Dubai and Shanghai [2] - The Mediterranean region is viewed as a strategic location for Uni-Fuels, offering opportunities for supplier diversification and supply resilience [3][5] Operational Strategy - The company aims to be closer to customers and major trading hubs, which is crucial for optimizing operational performance and addressing local market nuances [3][4] - Uni-Fuels' team of marine fuel experts provides on-site assistance and real-time market intelligence, enhancing the company's ability to adapt to changing business landscapes [3][4] Market Positioning - The Limassol office allows Uni-Fuels to respond promptly to fuel price variations and regulatory updates, improving its pricing strategy and procurement options for customers [4] - Cyprus serves as a gateway for traditional fuel markets and green shipping corridors, aligning with Uni-Fuels' focus on renewable solutions and low-emission fuel sourcing [5] Company Overview - Established in 2021, Uni-Fuels is a rapidly growing provider of marine fuel solutions with a presence in major shipping hubs, including Singapore, Seoul, Dubai, and Shanghai [6] - The company emphasizes customer-centric, compliant, and reliable fuel solutions, supported by a diverse team and a robust global supply network [6]