CMB.TECH sells VLCC Donoussa for $74.4M Q4 gain. Tanker sale frees capital ahead of Aug. 27 Q2 results. Group runs 250 vessels across bulk, tanker, container, offshore segments.
Alpha Score of 44 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
CMB.TECH has sold a very large crude carrier for a capital gain of roughly $74.4 million, the company said Monday.
The VLCC Donoussa, a 2016-built vessel of 299,999 deadweight tonnes, will be handed to its new owner in the fourth quarter. The gain, based on the net sale price versus book value, will also hit in Q4, the company said.
CMB.TECH reports second-quarter results on Aug. 27.
The sale frees up capital from a tanker market that has seen spot rates soften this year. VLCC earnings on the benchmark Middle East-to-China route averaged about $30,000 a day in July, down from roughly $50,000 a day in the same month last year, Baltic Exchange data show.
CMB.TECH operates about 250 vessels across dry bulk, crude oil tankers, chemical tankers, container ships and offshore energy vessels. The group also supplies hydrogen and ammonia fuel to customers, either from its own production or through third-party producers.
The company is listed on Euronext Brussels, the NYSE and Euronext Oslo Børs.
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