1 Forward looking statements This presentation and any other written or oral statements made by us in connection with this presentation include forward-looking statements within the meaning of and made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, including statements that address activities and events that will, should, could, are expected to or may occur in the future are forward-looking statement ...

Financial Performance - CMB.TECH reported a net loss of $7.6 million in Q2 2025 [32, 122] - EBITDA for Q2 2025 was $224.1 million [32] - The company has a contract backlog of $2.93 billion [7, 23, 32, 122] Fleet and Operations - The merger with Golden Ocean was completed [32, 122], adding 89 dry-bulk vessels to the fleet [28, 31] - The company has 206 modern eco vessels on the water and 44 newbuilding vessels [7, 122] - The average age of the fleet is 5.8 years [7] - The fair market value of the fleet is $10.8 billion [7] Market Outlook and Strategy - The company is listed on NYSE (CMBT), EURONEXT Brussels (CMBT), and EURONEXT Oslo (CMBTO) [32, 122] - The company declared an interim dividend of $0.05 per share, payable around October 9 [32, 122] - The company is focused on decarbonization, with the first dual-fuel NH3 Newcastlemax to be delivered by Q1 2026 [122] - The company has a large exposure to favorable tanker and dry bulk fundamentals [122]

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]

Financial Performance - Hafnia reported a TCE income of USD 231.2 million for Q2 2025, with USD 449.9 million for 1H 2025[15] - Adjusted EBITDA for Q2 2025 was USD 134.2 million, and USD 259.3 million for 1H 2025[15] - Net profit for Q2 2025 reached USD 75.3 million (USD 0.15 per share), and USD 138.5 million (USD 0.28 per share) for 1H 2025[15] - A dividend of USD 60.3 million was declared, representing 80% of the net profit, which equals USD 0.1210 per share[15, 26] Fleet and Coverage - As of August 15, 2025, 75% of the fleet's earning days for Q3 2025 were covered at USD 25,395 per day[18] - Net Asset Value (NAV) is approximately USD 3.3 billion, equivalent to around USD 6.55 or NOK 66.07 per share[20] Market Dynamics - Cargo volumes for CPPs and chemicals have increased since 2020, with tonne-miles reaching their highest levels in eight years[38] - The company anticipates that the recent OPEC+ decision to boost production in September will support crude tanker rates and benefit the product tanker market[38] Strategic Initiatives - Hafnia concluded a USD 715 million revolving credit facility on July 10, 2025[18, 77] - The company maintains a strong balance sheet with a Net LTV of 24.1%[25, 76] Supply Outlook - UK, UN, and OFAC have sanctioned more than 400 tankers in 2025, reflecting a total of approximately 800 vessels trading outside normal market competition[55]

ATHENS, Greece, Aug. 27, 2025 (GLOBE NEWSWIRE) -- C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing seaborne transportation services, announced today that it will release its second quarter financial results for the period ended June 30, 2025 before the market opens in New York on September 2, 2025. On September 2, 2025 at 10:00 am ET, the company’s management will host a conference call to present the results and the company’s operations and outlook. Slides and audio webcast: There ...

Core Viewpoint - CMB.TECH NV has received a transparency notification indicating that Saverco NV has crossed below the transparency threshold of 65% in voting rights following a capital increase related to a merger with Golden Ocean Group Limited [1][4]. Group 1: Notification Details - The notification dated August 25, 2025, specifies that Saverco NV's voting rights decreased to 0.01% after the transaction, while CMB NV's voting rights increased to 56.56% and CMB.TECH NV's voting rights rose to 8.17% [2]. - The total number of voting rights after the transaction is 204,558,736, representing 64.74% of the total denominator of 315,977,647 [3][4]. Group 2: Company Overview - CMB.TECH is a major diversified maritime group with a fleet of approximately 250 vessels, including dry bulk vessels, crude oil tankers, chemical tankers, container vessels, offshore wind vessels, and port vessels [5]. - The company also provides hydrogen and ammonia fuel to customers, either through its own production or from third-party producers [5]. - CMB.TECH is headquartered in Antwerp, Belgium, and is listed on Euronext Brussels and NYSE under the ticker symbols "CMBT" and on Euronext Oslo Børs as "CMBTO" [6].

李冈峰 欧洲天然资源基金 Commodity Discovery 特约分析师 这是一个主要从美国每周的CFTC数据公布基金(Managed Positions)在当地期货市场的各种部署，继而反映 现时市场对贵金属的情绪和对短/中期的一个价格判断。美国每周五收市后公布的CFTC数据，记录日为刚过 去的周二(如果过去一周原本工作日是假日的话数据出炉会延期)。 概要 早前美国7月份PPI环比急跳0.9%（市场预期升0.2%），反映美国关税对当地通胀的影响开始浮 现。加上7月份联储内部会议记录出炉，当中只有两位会员认为美国需要降息，而其他表示息率应 继续按兵不动（因为他们觉得控通胀比救就业更重要），股市和商品市场曾一度出现反应和较大 幅度回调。 不过从期货市场上反映，主流意见一直都是认为9月会降息，而笔者已追从此指标多年，虽然中长 线此工具去猜未来利率走势是很不靠谱，但短期（一个月）还是相对靠谱的。原因可能是联储局 为了维持自己的公信力，他们都会比较愿意增加透明度令市场对息率有正确的预期。 上周五，鲍威尔便表示， 美国正经历上升中的通胀及下跌中的经济增长 （其实再恶化下去，不就 是滞胀吗？）， 但联储局或许是时候开始 ...

The Panama Canal Authority plans to sell rights to two, yet-to-be-built ports to bring in more competition ahead of a deal to sell other ports to BlackRock and shipping giant MSC https://t.co/943jVVLs2m ...

Financial Data and Key Metrics Changes - The company reported a TCE income of $38,800 per available day and $37,300 per calendar day, exceeding guidance of $35,000 per day [3] - Q2 profit was $35 million, translating to an EPS of $0.23, with a declared dividend of $0.22 per share [4][25] - The net profit after tax for Q2 was $43 million, including $16 million from BW LPG India and $6 million from product services [25] - The net leverage ratio decreased to 31% from 33% at the end of the previous year [26] Business Line Data and Key Metrics Changes - Product Services achieved a gross profit of $15 million and a profit after tax of $6 million in Q2 [4] - The time charter portfolio constituted 44% of total shipping exposure, with 32% fixed rate time charter [21] - The average bar value at risk was $6 million, reflecting a balanced trading book [25] Market Data and Key Metrics Changes - The VLGC market is experiencing solid fundamentals with growth in U.S. export volumes supported by high domestic LPG production [7] - U.S. LPG exports to India exceeded 1 million tonnes in 2025, compared to less than 100,000 tonnes for the entire 2024 [11] - The global fleet growth is low, with only 409 ships currently in service and seven more expected to be delivered in 2025 [10] Company Strategy and Development Direction - The company aims to grow its time charter portfolio to around 40% to protect against market volatility [37] - The focus remains on managing drydocking schedules and optimizing fleet utilization to enhance revenue generation [5][21] - The company is monitoring the LPG FFA market, which is currently pricing the balance of 2025 at low $60,000 per day for the Middle East Japan benchmark leg [10] Management's Comments on Operating Environment and Future Outlook - Management highlighted the impact of geopolitical events on market volatility and shipping rates [3] - The outlook for U.S. LPG exports is positive, driven by increased production and terminal expansions [18] - The Panama Canal's congestion is a significant factor affecting shipping rates and operational efficiency [14][75] Other Important Information - The company finalized a $380 million term loan and revolving credit facility to finance its fleet [6] - The operating cash breakeven per day is estimated to be $19,100 for the own fleet and $21,700 for the total fleet [27] - The company maintains a strong liquidity position with $287 million in cash and $421 million in undrawn revolving credit facilities [28] Q&A Session Summary Question: Fleet growth and capacity concerns - Management acknowledged the fleet growth but noted that increased LPG volumes from the U.S. and the Middle East would absorb the new capacity [36] Question: Impact of Panama Canal registration restrictions - Management indicated that fewer ships would go through the Panama Canal, potentially leading to more vessels sailing around South Africa [39][46] Question: Purchase options on time charter vessels - Management confirmed there are no immediate purchase options but some are available later in the decade [49] Question: Q3 guidance and drydocking impact - Management explained that the time charter portfolio affects Q3 guidance, and drydocking schedules are also a factor [50][52] Question: Current freight market sustainability - Management noted that while there is downside risk at $70,000 per day, the market seems able to sustain these rates [73][74]

Q2 2025 Earnings Presentation BW LPG Kristian Sørensen and Samantha Xu 26 August 2025 Disclaimer and forward-looking statements NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR IN TO ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. BY ATTENDING THE MEETING WHERE THIS PRESENTATION IS MADE, OR BY READING THE PRESENTATION SLIDES, YOU ACKNOWLEDGE AND AGREE TO COMPLY WITH THE FOLLOWING RESTRICTIONS. This presentation has been produced by BW LPG Lim ...