Cmb.tech Nv · EURONEXT:CMBT
Cmb.tech Nv — Investor Day (January 2024)
94 slides from Cmb.tech Nv's investor day presentation, Jan 12, 2024
Slide 1: Capital Markets Day
Capital Markets Day 12 January 2024
Slide 2: Forward-looking statements (1/2)
Forward-looking statements (1/2) This presentation includes certain statements, expectations, estimates and projections provided by Euronav NV (the “Company”) and certain other sources believed by the Company to be reliable, and statements of the Company’s beliefs and intentions about future events.
Slide 3: Forward-looking statements (2/2)
Forward-looking statements (2/2) Additional information CMB N has announced previously that it will conduct a mandatory tender offer for all of the Company shares that it and its affiliates do not already own. The tender offer has not yet commenced. This presentation is for informational purposes on
Slide 4: Presentation topics
Presentation topics 1. CMB.TECH transaction 2. Creating the reference in sustainable shipping 3. Value creation 4. Business units and markets 5. Annex - focus section on hydrogen market and shipping, fleet list © 2024 – CMB.TECH 4
Slide 5: 1. CMB.TECH Transaction
1. CMB.TECH Transaction CMB ©. TECH
Slide 6: Euronav company profile
Euronav company profile 2nd largest quoted crude oil tanker company Euronav in numbers ▪ Euronav is the world’s second largest independent quoted crude Type # of vessels Average age(1) oil tanker company (dwt) engaged in the ocean transportation and storage of crude oil VLCC 17 3 NH3 9.9 years Tradi
Slide 7: CMB.TECH company profile
CMB.TECH company profile Marine CMB.TECH marine in numbers CMB.TECH is a division of the CMB Group that designs, builds and operates a future-proof fleet powered by hydrogen and ammonia: Total of 60+46 vessels Crew Transfer Vessels (CTV) Dry-Bulk carriers powered by NH3 powered by MDO and H2 with an
Slide 8: Financial terms: enterprise value to equity value bridge
Financial terms: enterprise value to equity value bridge The Acquisition Price for 100% of the shares in CMB.TECH is $ 1.150 billion in cash. Approximate enterprise value of $ 3.649 billion and an equity value of $ 1.150 billion Financial terms The transaction includes $ 2.496 billion roll-over debt
Slide 9: Creating the leading, future-proof shipping platform
Creating the leading, future-proof shipping platform ✓ Best-in-class tanker platform ✓ Market leader in green ships ✓ High-quality asset base: VLCC, ✓ Modern fleet comprising over 100 Suezmax, and FSO low-carbon future-proof vessels expected (1) ✓ Strong customer portfolio at the center ✓ Integrated
Slide 10: Expected timing
Expected timing SGM - Special SGM - Special Shareholder Meeting Shareholder Meeting Shareholders approve conditionality of (i) Frontline’s acquisition of 24 VLCC for $ SGM scheduled on 7 February 2023 to 2.35 billion and (ii) termination of approve CMB.TECH transaction arbitration case against Front
Slide 11: Renaming to CMB.TECH NV
After the closing of the acquisition transaction and CMB’s announced mandatory take-over bid for all shares in Euronav that CMB and its affiliates do not currently own (the “MTO”), Euronav will propose to its shareholders to change its corporate name to “CMB.TECH NV” and CMB.TECH will change its cor
Slide 12: CMB.TECH has a strong, experienced management team
CMB.TECH (CMBT) has a strong, experienced management team with a successful track record The founders of CMB.TECH and driving Alexander Saverys force behind the rapid technological Chief Executive Officer advancements which result in Alexander Saverys serves on the Management Board of Euronav as Chi
Slide 13: Euronav and CMB's value creating pathways cross again
Euronav and CMB’s value creating pathways cross again CMB Technologies MV Hydroville was CMB acquires Windcat CMB.TECH and Ohlthaver & was added to the christened in Workboats from List Group create Cleanergy group Antwerp Seacor Marine Solutions Namibia JV Euronav Luxembourg is formed between Compa
Slide 14: Investment highlights CMB.TECH (CMBT)
Investment highlights CMB.TECH (CMBT) Creating THE reference platform in sustainable shipping • CMB.TECH builds, owns, operates the largest pool of large marine applications that run on hydrogen and ammonia Grey-to-green • Proven and scalable CMB.TECH technology of monofuel and dual fuel combustion
Slide 15: What do we stand for?
What do we stand for? To be the global reference in sustainable shipping. We create diverse, sustainable, and high-quality CMB.TECH focuses on hydrogen for small cash-flows. ships and ammonia for large ships. 1 2 We power green marine value chains: We reward our shareholders. shipping assets, port a
Slide 16: CMB.TECH (CMBT) company profile
CMB.TECH (CMBT) company profile Marine CMB.TECH marine in numbers Design, building and operate a future-proof fleet powered by hydrogen and ammonia: Total of 101+53 vessels Tugboats powered by H2 Dry-Bulk carriers powered by NH3 Ferry units powered by H2 with an average age of 4.59 years (1) Crew Tr
Slide 17: Marine – the leading diversified green shipping platform
Marine – the leading diversified green shipping platform Oil Tankers + Dry-bulk vessels + Container vessels + Chemical Tankers + Off-shore wind 41+7 2+26 1+4 2+6 52+10 9.2 years 3,455 <1 years 1,888 <1 years 441 <1 years 394 <1 y Avg. CSOV 679 Avg. age FMV $ millions Avg. age FMV $ millions Avg. age
Slide 18: Flywheel strategy of the CMB.TECH marine division
Flywheel strategy of the CMB.TECH marine division CMB.TECH is ideally positioned to tap into each step of the energy transition ... with a clear vision on value creation towards low carbon shipping ... for stakeholders Low carbon Hydrogen and Ammonia molecules Integration across entire value chain i
Slide 19: Future-proof and commercial attractive vessels hitting the water
Future-proof and commercial attractive vessels hitting the water Firm newbuilding orders of dual fuel NH3 2 + 6 x 25.000dwt chemical tankers 2 + 24 x 210.000 dwt Newcastlemax bulkers 1 + 3 x 6.000 TEU ice class 1A reefer container ships NH3 as a fuel (ready) NH3 as a fuel (ready/fitted) NH3 as a fue
Slide 20: CMBT a NYSE and EURONEXT listed growth stock
CMBT a NYSE and EURONEXT listed growth stock Real low-carbon Proven technology Significant market solution ready to scale for green energy Growth Long-term trend & structural shift + Competitive advantage + Addressable market = stock The Paris Agreement’s overarching CMB.TECH has proven, competitive
Slide 21: Governments have stepped up their commitment to policy action
Governments have stepped up their commitment to policy action EU Green China's 14th U.S. Inflation IMO GHG Deal and Five-Year Reduction Act strategy 2023 EU Fit for 55 Plan CMB.TECH targets new capital deployment of 3-5 $ billion over the next five years GREEN MARINE HYDROGEN ASSETS GREEN MARINE AMM
Slide 22: EU ETS and FuelEU can offer significant competitive advantage
EU ETS and FuelEU can offer significant competitive advantage EU ETS and FuelEU maritime cost comparison Start today – pilot projects offer a compelling commercial case € 4,00 Millions FuelEU Maritime penalties can only be reduced significantly € 3,50 ✓ by changing fuel technologies -80% FuelEU Mari
Slide 23: CMB.TECH: at the forefront of hydrogen & ammonia rollout
CMB.TECH: at the forefront of hydrogen & ammonia rollout Establishing the market for hydrogen and ammonia today for the transportation sector CMB.TECH hydrogen rollout versus Hydrogen Council’s timeline CMB.TECH intends to accelerate the transition of utilising hydrogen ✓ as an energy source in tran
Slide 24: Proven technology with a significant addressable market
Proven technology with a significant addressable market The current CMBT marine client base (1) CMBT industry clients and partners (1) (1) These firms have not consented to the use of their names in this presentation, nor have they endorsed the transaction or made any recommendations relating theret
Slide 25: Grow current CMB.TECH market position
Grow current CMB.TECH market position Current pipeline of approximately 120 marine projects and 5 H 2 infra projects worldwide – and growing by the day Marine – H2 powered Marine – NH3 powered H2 Infrastructure 20 H2 tugboats Own production of 185,000 tons pa of green 20 NH3 Ultramax bulkers ammonia
Slide 26: 3. Value Creation
3. Value Creation
Slide 27: Financial terms: enterprise value to equity value bridge
Financial terms: enterprise value to equity value bridge The Acquisition Price for 100% of the shares in CMB.TECH is $ 1.150 billion in cash. Approximate enterprise value of $ 3.649 billion and an equity value of $ 1.150 billion Financial terms The transaction includes $ 2.496 billion roll-over debt
Slide 28: Financial terms: Marine FMV
Financial terms: Marine FMV Broker 1 Broker 2 Broker 3 Broker 4 Broker 5 Broker 6 Internal valuation In $ Sub Total FMV Total FMV Calculation methodology: $ 3,402 Average FMV/vessel Average FMV/vessel Average FMV/vessel Average FMV/vessel Average FMV/vessel Average FMV/vessel Average FMV/vessel mill
Slide 29: Financial terms: Industry DCF
Financial terms: Industry DCF Business plan (in $ millions) Equity value (in $ millions) $ million (# units) 2024E 2025E 2026E WACC 10.5% Truck 18.0 35.9 39.5 (75 #) (150 #) (165 #) Perpetual growth rate 2.5% Generator 0.2 0.6 0.8 (10 #) (30 #) (36 #) Present value of Free Cash Flow 116 Port Equipme
Slide 30: Financial terms: Industry DCF assumptions
Financial terms: Industry DCF Business plan – main operational assumptions Truck Generator BeHydro Port Locomotive • Fixed price by straddle • Locomotive leased on Revenue • Fixed price by truck times • Fixed price by generator • Fixed price by engine times carrier retrofit kit times annual basis nu
Slide 31: Financial terms: H2 infra DCF
Financial terms: H2 infra DCF Business Business plan plan (in (in $$ millions) million) Equity Equity value value (in (in $$ millions) million) WACC 24E-29E 12.0% $ million 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E WACC 30E-31E 9.0% Perpetual growth rate 2.5% PV2Fuel pilot - - 1.3 1.3 1.3 1.4
Slide 32: Financial terms: H2 infra DCF assumptions
Financial terms: H2 infra DCF Business plan – main operational assumptions PV2Fuel Pilot PV2Fuel Refueling Station Revenue • Volume of hydrogen produced times hydrogen price • Green ammonia price per kg times volume produced • Green ammonia price per kg times volume produced which is assumed flat fr
Slide 33: Fairness opinion: agreed valuation versus fairness opinion
Fairness opinion: agreed valuation versus fairness opinion 89 22 181 Agreed valuation 2,496 3,402 3,649 1,153 • Overall, the Enterprise Value is aligned between the internal valuation (-) Overheads excersize, and the fairness opinion Marine FMV Industry H2 Infrastructure and HQ Costs Enterprise (-)
Slide 34: Fairness opinion
Fairness opinion Extract out of the fairness opinion performed by Degroof Petercam (1) • Estimated Equity Value of CMB.TECH based (3) on the DCF valuation method within the range of $ 1,157-1,449 million(1) with a midpoint of $ 1,302 million. • Secondary method, the NAV, yields a valuation range of
Slide 35: Technology performance and scalability
CMB.TECH company profile 44+6 3 52+5 3 CTV Other CTV Other 0+5 2+24 Q4 2023 Q4 2021 Marine 0+4 0+8 CSOV Newcastlemax 25.000 dwt chem Newcastlemax 2 years 2+6 0+2 25.000 dwt chem 5000 dwt 0+12 1+3 0+1 6,000 TEU 6,000 TEU 1,400 TEU 47+30 ~FMV $ 1,787 million (1) 60+46 FMV $ 3,402 million (2) Cleanergy
Slide 36: CMB.TECH is committed to creating value
CMB.TECH is committed to creating value A Building, owning, and operating high-specification assets that generate predictable and uncorrelated cash flows B Targeting long-term contracts with blue-chip counterparties – where risks and rewards are being shared between all parties C Solving our custome
Slide 37: P&L break-even levels versus actual Time Charter Equivalent (TCE)
P&L break-even levels versus actual Time Charter Equivalent (TCE) In $ per vessel per day 10,115 7,228 10,720 9,121 18,461 29,432 29,750 27,677 50,912 85,962 75,847 22,204 19,030 18,556 32,451 15,500 29,800 6,350 5,550 6,450 Newcastlemax bulk carrier 6000 TEU container vessel 25K DWT chemical tanker
Slide 38: P&L break-even levels versus TCE analyst consensus
P&L break-even levels versus TCE analyst consensus In $ per vessel per day 1,394 10,840 9,216 12,096 10,720 31,950 34,300 29,750 29,750 18,556 19,950 19,950 41,667 41,667 75,847 85,962 86,687 32,451 22,204 19,030 Newcastlemax bulk carrier 6000 TEU container vessel 25K DWT chemical tanker CSOV FSO -
Slide 39: Available days
Available days In days Newcastlemax bulk carriers 6000 TEU container vessels 25K DWT chemical tankers CSOV 0 0 0 0 0 0 0 0 0 822 0 733 732 1,460 1,460 1,460 2,243 5,187 8,842 953 1,460 1,460 447 1,613 2024 2025 2026 2024 2025 2026 2024 2025 2026 2024 2025 2026 Open days Fixed days FSO VLCC Suezmax T
Slide 40: Illustrative balance sheet: Euronav, CMB.TECH, and combined
Illustrative balance sheet(1): Euronav, CMB.TECH, and combined CMB - CMB.TECH Elimination Other EURONAV CMB.TECH COMBINED CMB.TECH Illustrative in k USD receivable participation & consolidation 15/02/2024 15/02/2024 15/02/2024 acquisition price 15/02/2024 settlement receivable entries ASSETS NON-CUR
Slide 41: Disciplined capital allocation strategy
Disciplined capital allocation strategy 01 03 Delivering returns to shareholders Focus on leveraging proven NH3/H2 technology to become leader in our industry. Reinvesting in core business Sufficient working capital, solid asset performance, and a favorable capitalization structure. 02 04 CMBT is a
Slide 42: Current valuation presents attractive entry point
Current valuation presents attractive entry point Asset transfer CMB.TECH transaction Upside NAV Acquisition Price for 100% of the shares $/share Frontline will acquire 24 VLCC for $ 2.35 in CMB.TECH is $ 1.150 billion in cash. 18.43 billion – i.e. a transaction at NAV 17.86 Enterprise value of $ 3.
Slide 43: CMB.TECH's diversified green fleet fuels future CMBT growth
CMB.TECH’s diversified green fleet fuels future CMBT growth SFDR(1) Article 8 and 9 equity funds have received Asset prices and cycle showing that high tanker values 3.4x the cumulative inflows vs. non-ESG counterparts (Article give opportunity to recycle capital in the future-proof fleet 6) since 2
Slide 44: Our value proposition for investors
Our value proposition for investors LISTED.. LISTED.. NYSE EURONEXT ✓ ACCESS TO ENERGY TRANSITION IN A LARGE LIQUID ✓ TOP RANKED BY TIER 1 ESG RATING AGENCIES STOCK ✓ BUSINESS MODEL FOCUSED ON LONG-TERM VALUE ✓ 3 CONSECUTIVE YEARS “B” RATING FOR CDP CREATION ✓ DIVERSIFIED FLEET, DIVERSE END-MARKETS
Slide 45: 4. Business units and markets
4. Business units and markets
Slide 46: Euronav and tanker markets
Euronay and tanker markets CMB ©. TECH
Slide 47: A swift, just and equitable transition
A swift, just and equitable transition(1) Oil demand scenarios (in mb/d) NetZero scenario – VLCC tonnage requirements (# vessels) Million barrels per day # vessels 105 900 VLCC orderbook stood >40% as percent of fleet between 2006-2011. These VLCC’s will start ageing out of the fleet in the coming y
Slide 48: The opportunity to recycle older tanker tonnage over time
The opportunity to recycle older tanker tonnage over time 10-year old tanker asset value (in $ million) Regulatory frameworks expected impacts on (older) tanker tonnage VLCC 10 year $ million asset value Suezmax 10 year Number of ships Fuel EU/EU ETS 75 Euronav conventional fleet 42 Natural decline
Slide 49: Crude oil tankers
Crude oil tankers Opec+ production cuts are delaying the short-term demand story, but very compelling supply dynamics Euronav Fleet Stock listed Crude Oil Tanker Fleet (VLCC & Suezmax) (1) 17+3 22+4 2 Fleet positioned for upcycle 15 ▪ The second biggest publicly listed crude oil Total DWT million VL
Slide 50: Bocimar and dry bulk markets
Bocimar and dry bulk markets CMB = TECH BOCIMAR
Slide 51: Dry-bulk vessels
Dry-bulk vessels The supply/demand balance should remain stable in 2024 and is expected to tighten into 2025 CMB.TECH Bocimar fleet Order book and utilization Long-term dry-bulk vessel supply backdrop appears supportive overall 2+24 0+2 Newbuilding program aligned with the • In October 2023, the cur
Slide 52: Dry-bulk vessels
Dry-bulk vessels Most fuel-efficient large bulkers in the world AND NH3 ready Capesize fleet compliance with IMO CII West Australia - China rountrip (in Ton LFSO) A C E +53.4% 71% B D 1,074 An estimated ~59% of existing Capesize bulkers will have a non-compliant CII rating (D or E) in 2023, growing
Slide 53: Bochem and chemical tanker markets
Bochem and chemical tanker markets CMB = TECH BOCHEM
Slide 54: Chemical tankers
Chemical tankers Accelerated recovery expected to be aided by favorable supply-side dynamics CMB.TECH Bochem fleet Order book 2+6 Supportive supply side with a significant number of Newbuilding program under favorable long-term vessels abov 20-years old (16%) charter contracts with Stolt Tankers ▪ O
Slide 55: Chemical tankers
Chemical tankers Steady volume growth in the medium term, whilst tonne-miles increase due to trade flow disruption & support by European import demand. Inflationary impacts on demand to linger but freight likely to be supported by fleet contraction SP Trade Volumes & Tonne-Mile Development Chemical
Slide 56: Chemical tankers
Chemical tankers Key chemical trade flows by 2022 & 2023(1) volumes MEG to FEA trade was the no.1 route of 2022/2023(1), followed by intra-FEA & Intra-Europe volumes, FEA imported almost one-third of all chemical cargoes in 2022/2023(1) (1)2023 volumes annualised basis Jan-Sept data. Source: Clarkso
Slide 57: Chemical tankers
Chemical tankers Chemical Tanker Fleet Age Profile – up to 55,000 DWT coated and stainless chemical tanker fleet In service fleet in numbers DWT distribution per build year Detail Values Total number of 3,205 ships Sum of DWT 52 (millions) Confirmed order 8% book (by DWT) Avaerage age 16.5 (Years) N
Slide 58: Coffee break
Coffee break
Slide 59: Delphis and container markets
Delphis and container markets CMB TECH DELPHIS
Slide 60: Container vessels
Container vessels High orderbook points to challenging markets in 2024-2025 but eco ships in demand CMB.TECH Delphis fleet Order book 1+3 0+1 Newbuilding program under favourable Supply to outpace demand in both 2024 and 2025 long-term charter contracts with CMA-CGM ▪ Contracting of new ships contin
Slide 61: Enabling the first green shipping route between Norway and Europe
Container vessels Enabling the first green shipping route between Norway and Europe 1400 TEU to be build at • The world's first container ship that will use clean ammonia as fuel 1 Yangfan • Delphis awarded with the contract because of: • Specific niche container shipping knowledge (e.g. ice class)
Slide 62: Windcat and offshore wind markets
Windcat and offshore wind markets NGO CMB TECH WINDCAT
Slide 63: Offshore wind market
Offshore wind market Windcat Fleet 52+5 0+5 CTV CSOV <1 years Avg. Age CSOV 8.9 years Avg. Age CTV Energy type 679 FMV mio $ 42 16 Windcat future-proof fleet positioned to benefit from positive offshore wind industry outlook • Windcat is expanding its commissioning service operation vessels (CSOV) f
Slide 64: Overview personnel transfer solutions
Overview personnel transfer solutions Commissioning & • Offshore wind personnel can be transferred to Type Crew Transfer Vessel Service Operations Helicopter wind farms in multiple ways Vessel • (C)SOVs are preferred for projects further offshore # personnel 8-26 40-90 6-8 as they can accommodate pe
Slide 65: Offshore wind market
Offshore wind market CSOV market demand is expected to increase 3x by the end of the decade and current orderbook remains insufficient Market Overview CSOV CSOV Rates in ‘000 $/day – 2020 to 2026E Strong growth expected in # of turbines, resulting in high demand for CSOVs – supporting the strong out
Slide 66: Windcat Elevation class
Offshore wind market Windcat Elevation class Platform features • Length 89m, beam 20m, operational draught approx. 5.3 m • 90 cabins; maximum 120 POB. • 4x 1780 kW Schottel SPR-D 98º azimuthing thrusters • Large open work deck 550 m2 • Large warehouse with ample space for containers: 500 m2; easily
Slide 67: CMB.TECH industry and H2/NH3 combustion
CMB.TECH industry and H,/NH, combustion
Slide 68: Why CMB.TECH believes in hydrogen and ammonia
Why CMB.TECH believes in hydrogen and ammonia Batteries Photo-Voltaic panels Wind-Energy Nuclear Bio-fuel & HVO LNG Ships require a large energy More interesting for slow sailing Hydrotreated Vegetable Oil still buffer, resulting in a battery The ship’s surface is not big vessels. Deck space is chal
Slide 69: Strategic partnerships and co-development with OEMs
With strategic partnerships and co-development with OEMs, CMB.TECH has access to the first marine H2 & NH3 powered engines NH3 engines – Low speed (2-stroke) H2 engines – Medium speed (4-stroke) • Together with WinGD(1) a 2-stroke low-speed engine series is being developed • Since 2018, CMB.TECH is
Slide 70: Technology & Development Centre has 15 years of experience with H2
CMB.TECH’s Technology & Development Centre has 15 years of experience with H2 technology which is recognised by multiple OEMs • The first tests with hydrogen combustion were conducted in 2008 • 25 years of experience as engineering and design team with a proven track record working on complex and in
Slide 71: CMB.TECH Industry develops land-based industrial equipment for ports
CMB.TECH Industry develops land-based industrial equipment that is deployed in port areas • Heavy-duty and long endurance (up to 21h/day) industry favouring the use of dual H2 production fuel technology. Suitable equipment are: or H2 import 1. Trucks 2. Port and cargo handling equipment Port Area 3.
Slide 72: CMB.TECH Industry is an enabler for hydrogen supply in port areas
CMB.TECH Industry is an enabler for hydrogen supply and support services in port areas and offers rapid scalability © 2024 – CMB.TECH 72
Slide 73: 1. Dual-fuel hydrogen-diesel trucks
1. Dual-fuel hydrogen-diesel trucks Advantage The conversion Conversion of the truck is done by The truck can always continue its operation 2x technicians on 3x days. on the proven diesel platform if H2 runs out or The conversion entails the installation of 6x if there is no H2 refuelling station av
Slide 74: 2. Dual-fuel hydrogen-diesel cargo handlers
2. Dual-fuel hydrogen-diesel cargo handlers • As ports are standardized around the ships, the cargo handlers have the same philosophy. What works in Antwerp will also work in Rotterdam, Hamburg, etc. • Cargo handlers often can’t drive on public roads, thereby requiring dual fuel technology in case t
Slide 75: 3. Dual-fuel hydrogen-diesel locomotives
3. Dual-fuel hydrogen-diesel locomotives • Railways are hard to fully electrify in port areas. Especially where the electric overhead lines cannot be used for safety reasons. Furthermore on container terminals containers, the carriages are loaded from the top. • CMB.TECH’s combustion technology allo
Slide 76: 4. Hydrogen powered gensets
4. Hydrogen powered gensets (dual-fuel and monofuel) Gensets • Since 2018 CMB.TECH has put mono and dual fuel gensets into operation to power events (such as COP26) and has sold a dozen of them to Ziero, Aggreko, PlusZero and NENS-power (1) for showcasing the technology. • In 2023, we have partnered
Slide 77: H2 Infra and the projects in Namibia
H, Infra and the projects in Namibia ie oe CMB sowurions .TECH NAMIBIA.
Slide 78: H2 Infra: flywheel for both marine and industry divisions
H2 Infra: flywheel for both marine and industry divisions CMB.TECH’s H2 infra division offers hydrogen and ammonia fuel to its customers, either through its own production or by sourcing it from third party producers. Within H2 infra, the necessary technology and infrastructure is designed, develope
Slide 79: Visual impression H2 Infra
Visual impression H2 Infra Ongoing construction of Hydrogen production and refuelling station in Namibia Refuelling operation of Hydrocat with mobile refueller Hydrogen production and refuelling station in Antwerp Artistic impression of offshore refuelling station © 2024 – CMB.TECH 79
Slide 80: PV2Fuel Namibia has been defined in 4 phases
PV2Fuel Namibia has been defined in 4 phases Phased Small scale NH3 storage and Industrial Scale Facilitate upscaling Approach 1 Green H2/NH3 2 bunkering facility 3 Green H2/NH3 4 Green NH3 Experience Namibia, upskilling Building bunkering infrastructure Realising the first large Secure long-term av
Slide 81: NH3 storage and bunkering facility to kickstart the usage for shipping
NH3 storage and bunkering facility to kickstart the usage for shipping Project description: An import/ export ammonia terminal including bunkering facilities Phase 2 PV2Fuel: NH3 Terminal with a storage capacity of 40.000 tons. The terminal can be integrated into the exiting jetty operated by Namcor
Slide 82: Once the technology is proven, PV2Fuel can be scaled up
Once the technology is proven, PV2Fuel can be scaled up which will result in a low-cost NH3 production Phase 3 PV2Fuel: NH3 Production Phase 4 PV2Fuel: NH3 Upscaling • Project description: Industrial scale green ammonia production based on 930MWp • Once the technology, the business model and framewo
Slide 83: Closing Remarks
Closing Remarks Questions? CMB TECH
Slide 84: Decarbonize Today, Navigate Tomorrow
Decarbonize Loday Navigate Lomorrow
Slide 85: 5. Annex
5. Annex Focus seclion on H, market and shipping CMB TECH
Slide 86: Future energy demand: accelerating efficiency and reducing fossil fuel dependency
Future energy demand: accelerating efficiency and reducing fossil fuel dependency Global consumption shifts away from fossil fuels to decrease carbon footprint Total final consumption by fuels Total energy consumption by fuel in 2050 in two different scenarios 700 Key takeaways 600 Other ▪ In a net
Slide 87: Clean Hydrogen growth potential
Clean Hydrogen growth potential: energy demand supplied from hydrogen to witness north of 25% CAGR next 30 years Global energy demand supplied from Hydrogen (MT) approx. 3,200 GW incremental 660 approx. 1,300 GW incremental Power generation Mobility 385 Core industries approx. 500 GW incremental Bui
Slide 88: Growth trajectory supported by national strategies
Growth trajectory supported by national strategies: worldwide efforts to combat climate change As % of GDP world(1) 16% 25% 2% 4% 18% Representing approximately 66% worldwide GDP Committed to becoming Re-entered in the Net-zero emission by Reaching net-zero GHG Commitment to reach Vision / Goal clim
Slide 89: Long-haul hydrogen transportation will be likely in the form of Ammonia
Long-haul hydrogen transportation will be likely in the form of Ammonia Volume (MtH2/yr) Repurposed pipeline 1.5 New pipeline Ammonia Key takeaways Liquid H2 NH3 H2 • Transportation infrastructures eye ammonia as a safer, cost-effective means H2 Gas Liquid NH3 to export hydrogen in large quantities
Slide 90: Alternative fuel adoption in today's maritime industry
Alternative fuel adoption in today’s maritime industry is shaping tomorrow’s conventional fuel independence by 2050 Alternative fuel uptake in the world fleet by gross tonnage(1) Expectations of the main shipping players on the future fuel sources Ships in operation Ships on order 100% 4% 8% 15% 90%
Slide 91: 5. Annex – Fleet List
5. Annex Fleet List CMB TECH
Slide 92: Fleet List (1/3)
Fleet List (1/3) 2+24 0+2 1+3 6,000 TEU Newcastlemax 5.000 dwt 0+1 1,400 TEU # Ship's name Built Type Size Shipyard H2/NH3 # Ship's name Built Type Size Shipyard H2/NH3 1 Mineral Belgie Jul-23 Newcastlemax bulk carrier 210.000 dwt Qingdao Beihai Super-Eco (MAN) 1 CMA CGM Masai Mara Jun-23 Container
Slide 93: Fleet List (2/3)
52+5 0+5 Fleet List (2/3) CTV CSOV # Ship's name Built Type Size Shipyard H2/NH3 # Ship's name Built Type Size Shipyard H2/NH3 1 Windcat 1 24/02/2004 CTV 3 AF Theriault Volvo D16 34 Windcat 39 15/01/2016 CTV 3,2 Dok en Scheepsbouw Woudsend Volvo D16 2 Windcat 2 26/04/2005 CTV 1 AF Theriault Volvo D1
Slide 94: Fleet List (3/3)
Fleet List (3/3) Suezmax 22+4 VLCC 17+3 # Ship's name Built Type Size Shipyard # Ship's name Built Type Size Shipyard 1 Brest 2024 Suezmax 156,851 Hyundai Samho Heavy Industries Co., Ltd. 1 Aegean 2016 VLCC 299,999 Hyundai 2 Bristol 2024 Suezmax 156,851 Hyundai Samho Heavy Industries Co., Ltd. 2 Als