Core Insights - CMB.TECH's diversified business model spans multiple sectors, including dry bulk, tankers, containers, and offshore wind, with over 250 vessels post-merger with Golden Ocean, aiming for long-term growth and sustainability [3][8] - The company emphasizes the importance of stability and a long-term vision in an industry often focused on short-term gains, with leadership prioritizing sustainable growth over immediate profits [5][6] - CMB.TECH is addressing the valuation gap between net asset values (NAV) and market valuations by focusing on earnings potential and strategic positioning rather than just liquidation value [6][7] Business Strategy - The merger with Golden Ocean is expected to increase CMB.TECH's free float from 8% to 38%, enhancing liquidity and attractiveness to institutional investors [7][8] - Post-merger, CMB.TECH will have a fleet of 253 vessels with an average age of 6.1 years, a contract backlog of $3 billion, and capex commitments of $2.2 billion, targeting a leverage of 50% [8] - The company plans to invest in ammonia and hydrogen as future fuels, aligning with emissions targets and focusing on sustainable growth [9][10] Newbuilding Program - CMB.TECH is overseeing an ambitious newbuilding program with 46 vessels on order, including ammonia-capable ships scheduled for delivery starting in 2026 [11] - All newbuilds will be equipped to operate on alternative fuels, except where engine technology is not commercially available, ensuring cost-effectiveness [11] Infrastructure and Regulatory Strategy - The company acknowledges challenges in developing bunkering networks for ammonia but believes existing infrastructure for industrial ammonia can support initial phases of adoption [12] - CMB.TECH's strategy does not rely solely on regulatory support, emphasizing the need for a self-sustaining business model that can thrive without subsidies [13] Market Outlook - Mr. Saverys expresses a bullish outlook on Africa, highlighting its potential due to population growth, technology adoption, and emerging trade routes [14][15] - The company believes that success in shipping will require a strategic focus on Africa, leveraging its unique economic models and sustainable practices [15]