CMB.TECH NV Ordinary Shares (CMBT) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

and welcome to the CMB Tech earnings release for the second quarter of this year. My name is Alexander Savris and I'm joined by my colleagues Ludovic, Joris and Enya. We would like to discuss the CMB Tech and Golden Ocean merger first to start, that is the news of last week. Then we will zoom in on the second quarter financials and highlights. conclude and have time for some questions and answers. Let me first start with the news of last week. On the 20th of August, we have completed the CNB Tech and Golden Ocean merger to create a leading diversified maritime group. For those of you who have followed us before, you will recognize this slide, but I do want to take you through the combined Golden Ocean CNB Tech fleet. We have today 206 modern ecovessels on the water, with another 44 on order. Of our 250 ships, about one-third will be powered or will be capable to be powered by ammonia and hydrogen. Our contract backlog stands at close to $3 billion, and the average age of our fleet is a tick under six years. The total fair market value of the fleet is close to $11 billion, we have 1.9 billion dollars of capex commitments still outstanding. We are listed on NYC in New York, Euronext Brussels and since last week as well on the Oslo bears. You can see the detailed breakdown of our fleet at the bottom of the slide. with the major change being that BOSIMAR now has incorporated the fleet of Golden Ocean. We have added 89 vessels to the fleet. Our dry-boat division now has 119 ships. After the merger with Golden Ocean, we are the largest listed diversified maritime group. You can see the comparison to some of our peers, the pure-play peers and the more diversified peers. We have a market cap of over $2 billion. Our free float is now a significant 38%. And recently, we have h...