Belgian tanker operator Euronav, transitioning to CMB.TECH, marked key developments in late 2025 with a focus on fleet optimization and shareholder returns. The company concluded its long-announced acquisition of CMB.TECH and pursued aggressive modernization of its assets.
CMB.TECH Supervisory Board Approves an Interim Dividend
On December 17, 2025, CMB.TECHs supervisory board approved a $0.05 interim dividend per share, with payments scheduled for mid-January 2026. The dates vary by jurisdiction, reflecting the companys commitment to rewarding investors amid its strategic pivot toward sustainable shipping.
Euronav's dividend follows their successful completion of their $1.15 billion cash acquisition of 100 vessels for $1 billion cash.
Euronav Sells Old VLCCs and Acquires Eco-Design Vessels
Euronav sold four older very large crude carriers (VLCCs) and purchased two newer eco-VLCCs as part of its fleet modernization program. This transaction enhances operational efficiency and reduces emissions in line with industry trends toward greener tonnage.
Euronav's moves align with their overall strategy, such as plans to retain the Euronav brand for their tanker division after being rebranded to CMB.TECH. Acquiring CMB.TECHs future-proof fleet positions them to lead maritime decarbonization efforts.
Acquisition of Suezmax Tankers from Ocean Yield
Euronav agreed to purchase two Suezmax tanker vessels from Ocean Yield on 14-year charters, strengthening its mid-size tanker segment while diversifying away from crude oil dependency.
These purchases come amid ongoing legal matters, including an arbitration tribunal decision from Belgium regarding undervalued shares from Frontline VLCC sale. Though the court found minor adjustments necessary, Euronav considers most claims unsubstantiated and continues to contest challenges to their purchase agreements.
Strategic Context and Shareholder Approval
Shareholders previously approved CMB's plans to diversify Euronav's fleet beyond crude oil transport and reduce market volatility exposure, but legal pursuits, including efforts to revive Frontline merger, continue as do board restructuring proposals.
CMB.TECHs leadership highlighted the acquisitions' contribution to building a more environmentally sustainable maritime future, using rollover debt of $2.49 billion as collateral for these transactions. These steps represent Euronav's progress into an all-segment, low carbon shipping powerhouse.