CMB.TECH Reports Strong Q2 Profit, Plans Dividend

Earnings
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CMB.TECH reported a second-quarter net profit of $364.4 million, with revenue exceeding $700 million and EBITDA of $552 million, driven by strong shipping markets and $127 million in vessel-sale gains. The company plans to distribute $0.64 per share, comprising an interim dividend of $0.21 and a $0.43 payment from the share premium reserve, which is exempt from withholding tax. Capital expenditure commitments have fallen to $890 million, with only $119 million unfunded, and the company will repay a September bond maturity with cash. Tanker rates exceeded $120,000 per day for VLCCs and Suezmaxes, supporting additional vessel sales, but management warned that the order book, exceeding 30% of the existing fleet, could pressure markets in 2027 and 2028. The company projects operational cash flow of $700 million to $1 billion after CapEx payments for 2027, based on current rate assumptions.

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