CMB.TECH is continuing to benefit from the exceptionally strong tanker market, securing a substantial profit from the sale of one of the oldest vessels in its suezmax fleet as secondhand asset prices remain elevated.
The Belgian shipping group, controlled by the Saverys family, announced that it expects to record a capital gain of approximately $29.2m from the disposal of the 2007-built suezmax tanker Sienna. The vessel is scheduled to be delivered to its new owner during the second quarter of 2026.
The 150,200 dwt tanker is part of a broader strategy by CMB.TECH to gradually phase out older tonnage while reshaping and modernising its fleet portfolio.
Alongside the vessel sale, the company also revealed new chartering activity within its suezmax segment. The 2011-built Cedar, a 165,000 dwt suezmax, has secured a fresh five-year time charter, although the charter rate has not been disclosed.
At the same time, the company confirmed that charter agreements for the two 2026-built suezmax newbuildings Cap Grace and Cap Joseph have been extended by an additional year with US refiner Valero. The extensions bring the total charter duration to 10 years and include profit-sharing arrangements.
According to the company, these latest agreements have increased CMB.TECH’s overall contract backlog by around $109m, bringing the total backlog to approximately $3.26bn and further strengthening long-term revenue visibility across its tanker operations.
Over the past year, CMB.TECH has been actively taking advantage of high secondhand vessel prices to unlock value from ageing ships while repositioning its fleet for the years ahead.
The suezmax disposal follows several profitable transactions completed earlier in 2026. During the first quarter alone, the company delivered two capesize bulkers and six VLCCs to new owners, generating combined capital gains estimated at roughly $267.4m.
The sales programme is still ongoing, with two additional VLCC deliveries and the suezmax handover expected to be completed during the second quarter of the year.
