Core Viewpoint - CMB.TECH reported a profit of USD 17.3 million for Q3 2025, a significant decrease from USD 98.1 million in Q3 2024, while EBITDA increased to USD 238.4 million from USD 177.1 million year-over-year, indicating a recovery in tanker and dry bulk markets after a soft summer [4][5][6]. Financial Highlights - Revenue for Q3 2025 was USD 454.2 million, compared to USD 221.8 million in Q3 2024, with year-to-date revenue reaching USD 1.08 billion, up from USD 714.2 million in the previous year [5][6]. - The company’s contract backlog stands at USD 2.95 billion, reflecting strong future revenue potential [6]. - An interim dividend of USD 0.05 per share is proposed, expected to be paid on or about January 15, 2026 [10]. Fleet Highlights - CMB.TECH took delivery of seven new vessels in Q3 2025, including Super-Eco Newcastlemax and VLCC Atrebates, while selling two older vessels [6][14][15]. - The average daily time charter equivalent (TCE) rates for various vessel types showed mixed results, with Newcastlemax at USD 29,423/day and VLCC at USD 30,486/day for Q3 2025 [11][39]. Corporate Highlights - Changes in the Supervisory Board included the resignation of Mr. Marc Saverys and Mrs. Julie De Nul, with Mr. Carl Steen and Mrs. Gudrun Janssens appointed as new members [12][13]. - The company continues to focus on rejuvenating and decarbonizing its fleet, with ongoing sales and acquisitions of vessels [5][6]. Market & Outlook - The dry bulk market is expected to benefit from increased iron ore imports to China, despite a decrease in domestic steel production, indicating a bullish outlook for seaborne trade [19][20]. - The tanker market is supported by rising global oil supply, with OPEC+ increasing production, which may lead to improved freight rates [26][29]. - The chemical tanker market remains stable, with expectations of modest recovery in volume growth in 2026 [36][37].

Core Viewpoint - CMB.TECH continues its fleet rejuvenation strategy by selling older vessels and taking delivery of newbuild vessels, indicating a proactive approach to maintaining a modern and efficient fleet [1][2][3]. Fleet Update - CMB.TECH delivered five newbuilding vessels in Q3 and Q4 to date [2]. - The company sold the VLCC Dalma (2007, 306,543 dwt) for a capital gain of 26.7 million USD, with delivery scheduled for Q4 2025 [2]. - The time charter of the VLCC Donoussa (2016, 299,999 dwt) has been extended for another 11 months until October 2026 [2]. - The vessels Hakata (2010, 302,550 dwt) and Hakone (2010, 302,624 dwt) were sold, generating a total capital gain of approximately 39.3 million USD in Q3 2025 [3]. - The capesize vessel Battersea (2009, 169,390 dwt) was sold for a capital gain of 2.4 million USD, with delivery also set for Q4 2025 [4]. Estimated Time Charter Equivalent Earnings (TCE) - The estimated average daily TCE rates for various vessel types are as follows: - Newcastlemax Average rate: Q3 2025 at 27,872 USD/day, Q4 2025 to date at 30,954 USD/day (61.6% increase) [5]. - Capesize Average rate: Q3 2025 at 20,577 USD/day, Q4 2025 to date at 27,084 USD/day (50.0% increase) [5]. - Panamax/Kamsarmax Average rate: Q3 2025 at 13,437 USD/day, Q4 2025 to date at 15,814 USD/day (56.0% increase) [5]. - VLCC Average spot rate: Q3 2025 at 28,715 USD/day, Q4 2025 to date at 54,206 USD/day (30.0% increase) [5]. - Suezmax Average spot rate: Q3 2025 at 47,104 USD/day, Q4 2025 to date at 49,249 USD/day (34.0% increase) [5]. - CSOV Average time charter rate: Q3 2025 at 27,272 USD/day, Q4 2025 to date at 120,331 USD/day (83.7% increase) [7]. Company Overview - CMB.TECH is one of the largest listed, diversified maritime groups globally, operating a fleet of approximately 250 vessels, including dry bulk vessels, crude oil tankers, chemical tankers, container vessels, and offshore wind vessels [8]. - The company is headquartered in Antwerp, Belgium, with offices across Europe, Asia, the United States, and Africa [8].

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]

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].

Core Viewpoint - CMB.TECH has successfully completed a stock-for-stock merger with Golden Ocean Group, creating one of the world's largest diversified maritime groups [1][6]. Group 1: Merger Details - The merger was approved by 92.72% of Golden Ocean shareholders present at the special general meeting [2]. - CMB.TECH issued 95,952,934 new ordinary shares as part of the merger, with an exchange ratio of 0.95 CMB.TECH shares for each Golden Ocean share [3][8]. - The newly issued shares began trading on Euronext Brussels and NYSE, with a secondary listing approved on Euronext Oslo [4]. Group 2: Fleet and Financial Highlights - The combined fleet consists of approximately 250 vessels, including various types such as dry bulk vessels and crude oil tankers [7]. - The fleet has a fair market value of around USD 11.1 billion, with a contract backlog of approximately USD 3.0 billion, ensuring revenue visibility [7][8]. - CMB.TECH maintains a robust liquidity position exceeding USD 400 million, providing financial flexibility for growth [7]. Group 3: Corporate Structure and Listings - CMB.TECH is now listed on Euronext Brussels, NYSE, and Euronext Oslo under the ticker symbols "CMBT" and "CMBTO" [13]. - The total share capital post-merger is USD 343,439,903.39, with a total of 315,977,647 voting rights [11].