Cmb.tech Nv · EURONEXT:CMBT
Cmb.tech Nv — Euronav — Investor Day (January 2024)
94 slides from Cmb.tech Nv's investor day presentation, Jan 12, 2024
Slide 1: Capital Markets Day January 2024
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 NV 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 o
Slide 4: Presentation topics
Presentation topics CMB.TECH transaction Creating the reference in sustainable shipping Value creation Business units and markets Annex - focus section on hydrogen market and shipping, fleet list
Slide 5: 1. CMB.TECH Transaction
© 2024 – CMB.TECH 1. CMB.TECH Transaction
Slide 6: Euronav company profile
Euronav company profile (1) Age calculation: new building fleet set at 0 Industry-leading shareholder returns, tier 1 customer portfolio, and at the centre of the on-going energy transition. Older tanker tonnage provides excellent opportunities to recycle capital into more future-proof (tanker) tonn
Slide 7: CMB.TECH company profile
CMB.TECH company profile Total of 60+46 vessels with an average age of 0.17 years (1) Crew Transfer Vessels (CTV)powered by MDO and H2Commissioning service operationvessels (CSOV) powered by H2 CMB.TECH is a division of the CMB Group that designs, builds andoperates a future-proof fleet powered by h
Slide 8: Financial terms: enterprise value to equity value bridge
(1) (1) H2 Infrastructure DCF $ 22 (-) Overheads and HQ Costs DCF $ 3,649 Enterprise Value $ 510 $ 1,888 $ 361 $ 1,625 (-) Net Debt Total Nominal 0utstanding Capital Commitments $ 1,153 Equity Value Dry Bulk FMV $ 441 Container FMV $ 394 Chemical FMV $ 679 Off-Shore Wind, Others FMV $ 181 Industry D
Slide 9: Creating the leading, future-proof shipping platform
(1) Upon completion of newbuilding deliveries expected in 2026 (2) 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 i
Slide 10: Announcement of CMB.TECH transaction
(1) The offer price may be further reduced by the gross amount of any future dividends distributions paid by Euronav to its shareholders with an ex-dividend date prior to the end of acceptance period in settlement date of the MTO. CMB and Frontline plc/ Famatown Finance Ltd, reach an agreement on a
Slide 11: 2. Creating the reference in sustainable shipping
2. Creating the reference insustainable shipping 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
Slide 12: Alexander Saverys, Chief Executive Officer
Alexander Saverys Chief Executive Officer The founders of CMB.TECH and driving force behind the rapid technological advancements which result in proprietary H2 and NH3 technologies Ambitious strategy for CMBT to be a leading green shipping growth stock – on both NYSE and EURONEXT Clear vision on how
Slide 13: Euronav and CMB's value creating pathways cross again
Euronav and CMB’s value creating pathways cross again CMB acquires Delphis Euronav becomes the tanker division of CMB 1995 JV Euronav Luxembourg is formed between Compagnie Nationale de Navigation (CNN) and Compagnie Maritime Belge (CMB) 1997 2004 Euronav demerges from CMB and starts trading on Euro
Slide 14: Investment highlights CMB.TECH (CMBT)
Investment highlights CMB.TECH (CMBT) Creating THE reference platform in sustainable shipping (1) UNCTAD Handbook of Statistics 2023 (2) Fair Market Value (FMV) sources: Arrow, BRS, Howe Robinson, Maersk Broker, SSY, Vessels Value and Hagland Shipbrokers – FVM entails fleet on the water + new buildi
Slide 15: What do we stand for?
We create diverse, sustainable, and high-quality cash-flows. We serve our clients with reliable, qualitative,and safe services. We attract and inspire the best talents. CMB.TECH focuses on hydrogen for smallships and ammonia for large ships. We power green marine value chains:shipping assets, port a
Slide 16: CMB.TECH (CMBT) company profile
CMB.TECH (CMBT) company profile Design, building and operate a future-proof fleet powered by hydrogen and ammonia: Total of 101+53 vessels with an average age of 4.59 years (1) Category (2) 95 conventional NH3 21 dual fuel hydrogen Energy Design and retrofit of port and industrial applications to ru
Slide 17: Marine – the leading diversified green shipping platform
NH3 Energy type 9.2 years Avg. age 3,455 FMV $ millions 45 3 0 NH3 Energy type <1 years Avg. age 1,888 FMV $ millions 4 22 2 NH3 Energy type <1 years Avg. age 394 FMV $ millions 0 8 0 NH3 Energy type <1 years Avg. age 441 FMV $ millions 0 5 0 In-house expertise to seize new opportunities across end-
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 transitiontowards low carbon shipping ... Capitalize on fleet size and strategic investments in infrastructure Low carbon shipping of goods Integration across entire value chain in su
Slide 19: Future-proof vessels hitting the water
Future-proof and commercial attractive vessels hitting the water 2 + 24 x 210.000 dwt Newcastlemax bulkersNH3 as a fuel (ready/fitted) +4 Suezmax tankersNH3 as a fuel (ready) +3 VLCC tankersNH3 as a fuel (ready/fitted) 2 + 6 x 25.000dwt chemical tankers NH3 as a fuel (ready) Hydrotugdual fuel 65t BP
Slide 20: CMBT a NYSE and EURONEXT listed growth stock
CMBT a NYSE and EURONEXT listed growth stock + Real low-carbon solution Proven technology ready to scale Significant market for green energy “We have a plan. The strategy is working, and our people are fully behind it.Now it is about execution – operationally and strategically.” CEO CMB.TECH + Compe
Slide 21: Governments have stepped up their commitment to policy action
Governments have stepped up their commitment to policy action U.S. Inflation Reduction Act IMO GHG strategy 2023 EU Green Deal and EU Fit for 55 China's 14th Five-Year Plan GREEN MARINE AMMONIA ASSETS GREEN MARINE HYDROGEN ASSETS CMB.TECH targets new capital deployment of 3-5 $ billion over the next
Slide 22: EU ETS and FuelEU can offer significant competitive advantage
EU ETS and FuelEU can offer significant competitive advantage x 6 Assumptions Large handy bulk carrier emitting 9,725 tonnes of CO2 equivalents (CO2e) on voyages to and from the EU, and 1,399 CO2e tonnes on intra-EU voyages or at berth in EU ports EUA Carbon Price: $ 92.63 /ton To calculate the GHGI
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 solution available CMB.TECH intends to accelerate the transition of utilising hydrogen as an energy source in transportation industries CMB.TECH H2IC
Slide 24: Proven technology with a significant addressable market
Proven technology with a significant addressable market The current CMBT marine client base (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 thereto. CMBT industry clients and partners (
Slide 25: Current pipeline of approximately 120 marine projects
20 H2 tugboats 20 Hydrocats 10 H2 CSOV’s 10 H2 5,000 dwt Grow current CMB.TECH market position Note: Under development includes tenders, feasibility studies, currently under discussion and similar 20 NH3 Ultramax bulkers 20 NH3 4,000-10,000 TEU container vessels 10 NH3 LR2 tankers 10 NH3 25,000 dwt
Slide 26: 3. Value Creation
3. Value Creation
Slide 27: Financial terms: enterprise value to equity value bridge
(1) (1) H2 Infrastructure DCF $ 22 (-) Overheads and HQ Costs DCF $ 3,649 Enterprise Value $ 510 $ 1,888 $ 361 $ 1,625 (-) Net Debt Total Nominal 0utstanding Capital Commitments $ 1,153 Equity Value Dry Bulk FMV $ 441 Container FMV $ 394 Chemical FMV $ 679 Off-Shore Wind, Others FMV $ 181 Industry D
Slide 28: Calculation methodology: FMV basis November 2023
Calculation methodology: FMV basis 28 November 2023 Brokers used: Arrow, BRS, Howe Robinson, Maersk Broker, SSY, and Hagland Shipbrokers (1) Desk appraisals without physical inspection Average of FMV if multiple broker reports were available FMV includes value of charter (if applicable) No valuation
Slide 29: Financial terms: Industry DCF
$ million (# units) 2024E 2025E 2026E Truck 18.0 (75 #) 35.9 (150 #) 39.5 (165 #) Generator 0.2 (10 #) 0.6 (30 #) 0.8 (36 #) Port Equipment 0.8 (5 #) 0.8 (5 #) 6.1 (40 #) Behydro 3.2 (9 #) 7.4 (21 #) 12.6 (36 #) Locomotive - - (2 #) 0.8 (4 #) Total Revenue 22.1 44.7 59.8 OPEX -15.2 -31.1 -40.9 EBITD
Slide 30: Industry DCF calculation assumptions
Generator BeHydro Port Locomotive Fixed price by truck times number of trucks sold Number of trucks sold assumed to grow by 10% until 2030 and 5% onwards Overhead costs: allocated full time equivalents (FTEs) from the Engineering division No maintenance capex required as all applications are sold he
Slide 31: Financial terms: H2 infra DCF
Business plan (in $ million) Equity value (in $ million) WACC 24E-29E 12.0% WACC 30E-31E 9.0% Perpetual growth rate 2.5% Present value of Free Cash Flow -126 Present value of Terminal Value 215 Perpetual Growth Rate (%) -0.2% -0.1% - +0.1% +0.2% 2.3% 2.4% 2.5% 2.6% 2.7% -0.5% 8.5% 140 144 149 154 15
Slide 32: Business plan – main operational assumptions
PV2Fuel Pilot PV2Fuel Refueling Station Green ammonia price per kg times volume produced D&A: Linear depreciation of the equipment Overhead costs: allocated FTEs from Engineering division Green ammonia price per kg times volume produced Volume of hydrogen produced times hydrogen price which is assum
Slide 33: Agreed valuation versus Degroof Petercam valuation
3,402 Marine FMV 181 IndustryDCF 89 H2 Infrastructure DCF 22 (-) Overheads and HQ CostsDCF 3,649 Enterprise Value 2,496 (-) Net Debt 1,153 Equity Value 3,377 215 57 0 3,648 2,321 1,327 Agreed valuation Degroof Petercam valuation Note: Based on valuations as of 28/11/2023. Fair Market Value (FMV) sou
Slide 34: Fairness opinion of Degroof Petercam
Estimated Equity Value of CMB.TECH based 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 $ 1,105-1,435 million(2) with a midpoint of $ 1,327 million Based on the aforementioned valuati
Slide 35: CMB.TECH company profile
47+30 ~FMV $ 1,787 million (1) CMB.TECH company profile Q4 2021 BeHydro launches the first hydrogen-powered dual-fuel engine Launch of first multimodal hydrogen refuelling station Launch of hydrogen-powered truck & launch of hydrogen-powered excavator BeHydro launches 100% hydrogen engines for heavy
Slide 36: CMB.TECH is committed to creating value
CMB.TECH is committed to creating value Opportunity for green investments Opportunity to invest with impact Dual fuel mix flexibility and reliability – ready today Greening end-to-end the supply chain of our customers Clients Investors A B C A B C Long-term contracts and predictable cash-flow Invest
Slide 37: P&L break-even levels versus actual TCE
P&L break-even levels versus actual Time Charter Equivalent (TCE) TCE calculations: Actual Q4 2023: Newcastlemax bulk carrier, 25K DWT chemical tanker Actual Q3 2023: FSO, VLCC, and Suezmax 6000 TEU container vessel: all fixed under long-term time charter (10 years) CSOV TCE rate is based on forecas
Slide 38: P&L break-even levels versus TCE analyst consensus
P&L break-even levels versus TCE analyst consensus TCE consensus(1): Newcastlemax: Fearnleys, DNB and Arctic, corrected for pool points 6000 TEU: time charter rates 2024, 2025, 2026 25 dwt chemical tanker: time charter rates for 4/8 vessels CSOV: Fearnleys, DNB and Arctic FSO TC, VLCC TC, Suezmax TC
Slide 39: Available days
0 732 Open days Fixed days 0 732 0 732 5,608 671 5,759 303 6,117 0 6,278 1,832 7,707 984 8,368 0 2024 2025 2026 2024 2025 2026 2024 2025 2026 Available days Assumptions: Open days and fixed days provide the total available days - aligned with newbuilding delivery schedules 2,243 0 Open days Fixed da
Slide 40: Illustrative balance sheet: Euronav, CMB.TECH, and combined
Illustrative balance sheet(1): Euronav, CMB.TECH, and combined (1) The Balance Sheet is provided for illustrative purposes only, is not a pro forma, is not based on historical financial data and has not been reviewed by Euronav’s auditors. in k USD EURONAV 15/02/2024 CMB.TECH 15/02/2024 COMBINED 15/
Slide 41: Disciplined capital allocation strategy
04 01 02 03 Delivering returns to shareholders Investing in growth and development Reinvesting in core business Maintaining balance sheet strength CMBT is a growth stock with above-average revenue and earnings growth potential. Focus on leveraging proven NH3/H2 technology to become leader in our ind
Slide 42: Transaction agreement and NAV per share
12 December 2023 22 November 2023 February 2024 09 October 2023 18.43 18.43 17.86 17.86 Base NAV Upside NAV $/share Significant growth in energy transition Potential industry/H2 spin-offs Exposure to strong current tanker cycle Strong project pipeline Oil tanker asset recycle opportunities within po
Slide 43: Grey-to-green transition and ESG capital inflows
Grey fleet Future-proof fleet Dry Oil tanker Container Offshore LPG/LNG Chem tanker Asset prices and cycle showing that high tanker values give opportunity to recycle capital in the future-proof fleet SFDR Article 8 SFDR Article 9 SFDR Article 6 Inflow of capital Grey-to-Green Transition CMB.TECH’s
Slide 44: Our value proposition for investors
ACCESS TO ENERGY TRANSITION IN A LARGE LIQUID STOCK BUSINESS MODEL FOCUSED ON LONG-TERM VALUE CREATION DIVERSIFIED FLEET, DIVERSE END-MARKETS TIER 1 CLIENTS, HIGH CONTRACTED VALUE TOP RANKED BY TIER 1 ESG RATING AGENCIES 3 CONSECUTIVE YEARS “B” RATING FOR CDP CURRENT VALUATION PRESENTS ATTRACTIVE EN
Slide 45: 4. Business units and markets
4. Business units and markets
Slide 46: Euronav and tanker markets
Euronavy and tanker markets CMB ©. TECH
Slide 47: Crude oil demand and VLCC supply scenarios
(1) United Nations Climate Change Conference (COP28) closed with an agreement that signals the “beginning of the end” of the fossil fuel era by laying the ground for a swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance Source: own calculations – basis BP,
Slide 48: Regulatory impacts on older tanker tonnage
Source: own calculations – based on Evercorse ISI, Clarkson Research, Poten & Partners, BIMCO, Llyod’s Register. These firms have not consented to the use of their names and data in this presentation, nor have they endorsed the transaction or made any recommendations relating thereto. 30 35 40 45 50
Slide 49: Crude oil tankers: growing oil market imbalances
Crude oil tankers Growing oil market imbalances drive tanker improvements Global oil consumption is expected to hit a new record of 102.9 MBPD in 2024 Opec+ production cuts are delaying the crude transportation demand story Modest crude ton-mile growth of 3% in 2024 New oil supply is coming mainly f
Slide 50: Bocimar and dry bulk markets
Bocimar and dry bulk markets cz CMB BOCIMAR T E Cc H
Slide 51: Dry bulk market overview and newbuilding program
Long term improved economic conditions is expected to in crease utilization as of ‘24 Net demand estimated at -0.1% for 2023, and 3.0%, 2.9%, and 1.5% for 2024e through 2026, mainly driven by a forecasted increasing demand for iron ore, grains, and minor bulks in the period Iron ore shipments are es
Slide 52: Dry-bulk vessels: most fuel-efficient large bulkers
Dry-bulk vessels Most fuel-efficient large bulkers in the world AND NH3 ready Mineral Maureen HHI 2012, 206 dwt Mineral Qingdao Yangfan 2020, 206 dwt Mineral Belgie Beihai 2023, 210 dwt 1,074 888 700 +53.4% West Australia - China rountrip (in Ton LFSO) Capesize fleet compliance with IMO CII 7% 8% 29
Slide 53: Bochem and chemical tanker markets
Bochem and chemical tanker markets
Slide 54: Chemical tanker newbuilding program
Source: SEB, SIN, ICIS. Fair Market Value (FMV) sources: Arrow, BRS, Howe Robinson, Maersk Broker, SSY, and Hagland Shipbrokers – basis fleet on the water + new building orders. The firms have not consented to the use of their names and data in this presentation, nor have they endorsed the transacti
Slide 55: Chemical tanker fleet development
Source: Clarksons Specialised Products Trade Snapshot & Chemical Tanker Age Profile – prepared for CMB.TECH, IMF. Clarksons has not consented to the use of their names and data in this presentation, nor have they endorsed the transaction or made any recommendations relating thereto. Chemical Tanker
Slide 56: Key chemical trade flows
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 tanker fleet age profile
Chemical tankers Chemical Tanker Fleet Age Profile – up to 55,000 DWT coated and stainless chemical tanker fleet DWT distribution per build year In service fleet in numbers Detail Values Total number of ships 3,205 Sum of DWT (millions) 52 Confirmed order book (by DWT) 8% Avaerage age (Years) 16.5 N
Slide 58: Coffee break
Coffee break
Slide 59: Delphis and container markets
Delphis and container markets
Slide 60: Container newbuilding program and market
2023 2024 2025 2026 2027 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 CMA CGM Masai Mara Jun-23 CMA CGM Zingaro Jan-24 CMA CGM Etosha Jun-24 CMA CGM Dolomites Aug-24 TBN 1,400 TEU 2026 Fleet employment 2024E and 2028E Newbuilding program under favourablelong-term charter contracts with CMA-CGM 4 super-eco 6,000 TE
Slide 61: Enabling the first green shipping route between Norway and Europe
Container vessels Enabling the first green shipping route betweenNorway and Europe 1400 TEU to be build at Yangfan Ice class FIRST EVER Dual fuel NH3 fitted Long term TC (15 years) with NCL / Yara Delivery Mid 26 1 2 3 4 5 The world's first container ship that will use clean ammonia as fuel Delphis
Slide 62: Windcat and offshore wind markets
Windcat and offshore wind markets
Slide 63: Offshore wind market and Windcat fleet
Fair Market Value (FMV) sources: Arrow, BRS, Howe Robinson, Maersk Broker, SSY, and Hagland Shipbrokers – basis fleet on the water + new building orders. The firms have not consented to the use of their names and data in this presentation, nor have they endorsed the transaction or made any recommend
Slide 64: Overview personnel transfer solutions
Overview personnel transfer solutions Offshore wind personnel can be transferred to wind farms in multiple ways (C)SOVs are preferred for projects further offshore as they can accommodate personnel nearby the wind farm Helicopters are a lesser used alternative for fast and small assignments CTVs are
Slide 65: Strong growth in turbines drives CSOV demand
Strong growth expected in # of turbines, resulting in high demand for CSOVs – supporting the strong outlook for CSOV economics In comparison to Q3 2022, the CSOV market has seen a fixed rate increase of around 15-25% on average. Most vessel owners proposed (and fixed) their CSOVs in the third quarte
Slide 66: Windcat Elevation class
Offshore wind market Windcat Elevation class 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 accessible from work dec
Slide 67: CMB.TECH industry and H2/NH3 combustion
CMB.TECH industry and H2/NH3 combustion
Slide 68: Why CMB.TECH believes in hydrogen and ammonia
Fuel equivalent for a typical voyage Net Weight [ton] Gross Weight [ton] Net Volume [m³] CO2 tank-to-wake [ton] MGO* 700 749 777 2,205 H2 (compressed 300bar) 233 13,000 11,650 0 H2 (liquid -253°C) 233 420 3,281 0 Ammonia (liquid -33°C) 1,694 2,044 2,320 0 LNG (liquid -162°C) 577 965 1,351 1,587 Meth
Slide 69: NH3 engines and hydrogen engines
Together with WinGD(1) a 2-stroke low-speed engine series is being developed The WinGD X-DF-A dual-fuel ammonia engines have already been successfully tested at the development centre showing that NOx and N2O2 emissions are within the latest emission regulations and can easily be neutralized by an e
Slide 70: Technology & Development Centre experience with H2
CMB.TECH’s Technology & Development Centre has 15 years ofexperience 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 trackrecord working on complex and internat
Slide 71: CMB.TECH Industry land-based equipment
CMB.TECH Industry develops land-based industrialequipment that is deployed in port areas Heavy-duty and long endurance (up to 21h/day) industry favouring the use of dual fuel technology. Suitable equipment are: Trucks Port and cargo handling equipment Locomotives Power gensets BeHydro Engines Given
Slide 72: CMB.TECH Industry as enabler for hydrogen supply
CMB.TECH Industry is an enabler for hydrogen supply and support services in port areas and offers rapid scalability
Slide 73: Dual-fuel hydrogen-diesel trucks
1. Dual-fuel hydrogen-diesel trucks The truck can always continue its operation on the proven diesel platform if H2 runs out or if there is no H2 refuelling station available. Advantage Conversion of the truck is done by2x technicians on 3x days. The conversion entails the installation of 6x Type II
Slide 74: 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 the H
Slide 75: Dual-fuel hydrogen-diesel locomotives
3. Dual-fuel hydrogen-diesel locomotives HyRail project for long haul Shunting locomotive concept with BeHydro engine To showcase the potential of the technology for long haul transport, CMB.TECH is working on the HyRail project where 2x locomotives are converted to operate with green H2 fuel in dua
Slide 76: 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 up
Slide 77: H2 Infra and the projects in Namibia
H2 Infra and the projects in Namibia
Slide 78: Maritime & public H2 production & refueling station Antwerp
Maritime & public H2 production & refueling station Antwerp Mobile refueller CMB.TECH has developed a 40ft 500bar trailer to facilitate remote refueling for all of our applications. This enables us to support the customers of our Marine & Industry division with the supply of hydrogen. This trailer c
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 offshorerefuelling station
Slide 80: PV2Fuel small-scale hydrogen and ammonia project
Project description: Small-scale hydrogen and ammonia production including a hydrogen refueling station. Hydrogen production project entails 5MW solar park, 5MW electrolyser, 5,9MWh BESS, 3 compressors (3x45 kg/hr), Storage (40bar, 300bar & 500bar). Envisaged hydrogen production of 182 ton/y. Ammoni
Slide 81: Phase PV2Fuel: NH3 Terminal
Phase PV2Fuel: NH3 Terminal 2 Project description: An import/ export ammonia terminal including bunkering facilities with a storage capacity of 40.000 tons. The terminal can be integrated into the exiting jetty operated by Namcor by adding NH3 loading lines and NH3 loading arm. Project ambition: Cre
Slide 82: Phase PV2Fuel: NH3 Production
1 2 3b 3a Arandis(2000ha) Farm 58(175ha) Walvis Bay (113ha) Phase PV2Fuel: NH3 Production Project description: Industrial scale green ammonia production based on 930MWp solar plant, 500MW electrolyser (CF of 41%) and a total estimated ammonia production of 185kton/y Project ambition: Secure long-ter
Slide 83: Closing Remarks
Closing Remarks Questions? CMB TECH
Slide 84: Decarbonize today Navigate tomorrow
Decarbonize today Navigate tomorrow
Slide 85: 5. Annex Focus section on H2 market and shipping
5. Annex Focus section on H2 market and shipping
Slide 86: Future energy demand: accelerating efficiency and reducing fossil fuel dependency
Future energy demand: accelerating efficiencyand reducing fossil fuel dependency In a net zero scenario, total energy supply shifts away from unabated fossil fuels while supply from low-emissions sources increases Electrification becomes more prevalent, resulting in a cleaner power sector Key trends
Slide 87: Global energy demand supplied from hydrogen
Global energy demand supplied from Hydrogen (MT) Core industries approx. 500 GW incremental approx. 1,300 GW incremental approx. 3,200 GW incremental Clean Hydrogen growth potential: energy demand supplied from hydrogen to witness north of 25% CAGR next 30 years Sources: IEA, Hydrogen Council. These
Slide 88: Clean hydrogen potential to deliver up to 30% of end-use energy by 2050
Clean hydrogen has the potential to deliver up to 30% of end-use energy by 2050 Hydrogen is seen as a key technology for becoming carbon-neutral By 2050, Hydrogen could meet 18% of total global energy demand By 2050, hydrogen demand in the US could reach 63 million MT (14% of final energy demand) Ne
Slide 89: Long-haul hydrogen transportation will likely be in the form of ammonia
Long-haul hydrogen transportation will be likely in the form of Ammonia Distance (km) Volume (MtH2/yr) 1 000 5 000 10 000 Repurposed pipeline Liquid H2 Ammonia NH3 New pipeline H2 LHV (MJ/kg) Volumetric density (GJ/m3) Storage temperature (°C) Storage pressure (bar) Handling / Conversion complexity
Slide 90: Alternative fuel adoption in the maritime industry
Alternative fuel adoption in today’s maritime industry is shaping tomorrow’s conventional fuel independence by 2050 Ships in operation Ships on order H2 + A fuel technology transition is already underway in the maritime industry and gathering pace while the search for solutions continues For ships i
Slide 91: 5. Annex Fleet List
5. Annex Fleet List CMB TECH
Slide 92: Fleet List (1/3)
Fleet List (1/3) # 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) 2 Mineral Nederland Aug-23 Newcastlemax bulk carrier 210.000 dwt Qingdao Beihai Super-Eco (MAN) 3 Mineral Luxembourg Jan-24 Newcastlemax bulk ca
Slide 93: Fleet List (2/3)
# Ship's name Built Type Size Shipyard H2/NH3 1 Windcat 1 24/02/2004 CTV 3 AF Theriault Volvo D16 2 Windcat 2 26/04/2005 CTV 1 AF Theriault Volvo D12 3 Windcat 3 29/03/2005 CTV 1 AF Theriault Volvo D12 4 Windcat 4 02/11/2005 CTV 1 AF Theriault Volvo D12 5 Windcat 6 11/07/2007 CTV 2 AF Theriault Volv
Slide 94: Fleet List (3/3)
# Ship's name Built Type Size Shipyard 1 FSO Africa 2002 FSO 432,023 Daewoo 2 FSO Asia 2002 FSO 432,023 Daewoo # Ship's name Built Type Size Shipyard 1 Brest 2024 Suezmax 156,851 Hyundai Samho Heavy Industries Co., Ltd. 2 Bristol 2024 Suezmax 156,851 Hyundai Samho Heavy Industries Co., Ltd. 3 Brugge