Belgian shipping company CMB Tech announced on June 29 that it has agreed to sell two of its Suezmax tankers, generating a capital gain of approximately $100.5 million.
The vessels, named Brest and Brugge, are 2023-built crude carriers each with a capacity of 156,851 DWT.
According to a company statement, the vessels are scheduled for delivery to their new owner during the third quarter of 2026. This transaction will allow the shipping firm to book the full capital gain within the same three-month period.
"Historically strong Suezmax valuations have created an opportunity to unlock value at an attractive point in the cycle," explained CMB Tech Chief Executive Officer Alexander Saverys.
He added that the business intends to deploy the transaction returns to support its capital allocation strategy and fund the continued growth of the group.
The company noted it operates a combined fleet of about 250 vessels, which includes crude oil tankers, dry bulk carriers, chemical tankers, container vessels, and offshore energy ships.