CMB.TECH Makes Hay While the Sun Shines: Q2 2026 Earnings Exceed Expectations
CMB.TECH, a leading shipping company, has released its quarterly earnings for Q2 2026, showcasing exceptional financial performance and a bright outlook. The company's CEO, Alexander Saverys, highlighted the key highlights of the quarter during an earnings conference call.
The company made a profit of $364.4 million in the second quarter, with revenue exceeding $700 million. This is attributed to an increase in EBITDA to $552 million and a reduction in net finance expense by 5% to $76 million. CMB.TECH's liquidity stands at around $400 million, with a contract backlog of $3.3 billion.
One of the notable highlights of the quarter is the sale of assets, which generated an exceptional profit of $127 million. The company sold two VLCCs, the Ilma and the Ingrid, for a capital gain of $98 million, and an older Suezmax, the Sienna, with a capital gain of $29 million. CMB.TECH plans to sell more assets in the coming quarters, including two Suezmaxes in Q3 2026 and one VLCC and another Suezmax in Q4 2026.
The company's CEO emphasized that the sales are well-timed, given the historic high prices for VLCCs and Suezmaxes. According to CMB.TECH's analysis, the current values of these vessels are above the 10-year average, maximum, and even the top end of what has been seen over the last decade.
CMB.TECH also provided an outlook on its operational cash flow for 2027, assuming certain rate assumptions. The company forecasted a cash flow of $700 million to $1 billion, which is a powerful indication of the company's potential cash-generating capabilities, even after all CapEx investments have been repaid.
The CEO mentioned that CMB.TECH has a market cap of $5.2 billion and a fair market value of its fleet of $11.2 billion. The company's contract backlog is stable, with two-year charters on CSOVs and one one-year VLCC charter signed during the quarter.
CMB.TECH has taken delivery of nine newbuilding vessels in Q2 2026 and plans to distribute an amount of $0.64 per share, split into an intermediary dividend of $0.21 per share and a payment from the share premium reserve of $0.43 per share, which is exempt from any withholding tax.
The company's CEO, Alexander Saverys, expressed confidence in CMB.TECH's financial performance and outlook, stating that the current times are exceptional for shipping and also for the company. He highlighted that the company has made significant strides in reducing its CapEx commitments to less than $1 billion and has a young fleet with an average age below five years.
