CMB.TECH linked to tanker newbuilds in China

Antwerp-based CMB.TECH is making waves in the maritime industry with a significant newbuilding contract in China, involving the construction of up to five tankers. The Saverys family-led company has returned to Qingdao Beihai Shipyard, securing one very large crude carrier (VLCC) and two firm plus two optional suezmax vessels. This deal marks an important step in the company’s ongoing fleet expansion efforts.

Details of the Newbuilding Contract

Brokers estimate that the cost of the VLCC is around $135 million, while each suezmax is priced at approximately $96 million. This new contract signals CMB.TECH’s strategic focus on enhancing its fleet capabilities. The company, which is listed in New York and Brussels, boasts a diverse fleet of over 150 vessels, including tankers, bulk carriers, containerships, offshore wind vessels, and tugs.

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In a recent initiative to modernize its fleet, CMB.TECH sold three of its older VLCCs, achieving a total capital gain of $96.7 million. If this newbuilding deal is confirmed, it will mark CMB.TECH’s sixth VLCC from Qingdao Beihai Shipyard. Additionally, it will represent the first order for suezmax vessels at this shipyard, a significant milestone for both parties involved. Following this acquisition, CMB.TECH will expand its VLCC fleet to 16 ships and its suezmax fleet will exceed 20 vessels, further solidifying its position in the global shipping market.