Antwerp, May 19, 2026, 19:03 CEST
- CMB.TECH jumped 12.15% in Brussels. The company had a first-quarter profit of $368.8 million.
- The shipping group is planning a $0.64 per share distribution, pending approvals.
- CEO Alexander Saverys said tanker rates could jump or drop fast if the Strait of Hormuz opens again.
CMB.TECH surged in Brussels on Tuesday after the Belgian shipping company posted a strong jump in first-quarter profit and announced a $0.64-a-share payout, bringing cash returns back into focus for the stock. Shares finished at 14.58 euros on Euronext Brussels, gaining 12.15%, according to market data.
Brussels cash markets traded as usual, with Euronext open Monday to Friday besides listed holidays. According to Euronext, the only May closure is Labour Day on May 1, not May 19.
CMB.TECH posted a profit of $368.8 million, or $1.27 per share, for the quarter ended March 31. That’s up from $40.4 million, or $0.23 per share, a year ago. EBITDA rose to $558.3 million from $158.4 million.
The numbers are starting to count as the company benefits from strong tanker rates, rising ship resale prices and steady dry-bulk conditions. CMB.TECH reported its contract backlog climbed to $3.26 billion after landing a fresh five-year Suezmax time charter and securing extensions for two more Suezmax charters. A time charter is a vessel lease for a set term, and Suezmax describes tankers built to fit the Suez Canal.
The payout plan isn’t set yet. The supervisory board plans a $0.20 interim dividend plus a $0.44 payment from the share premium reserve. Final approval depends in part on the general shareholders’ meeting on May 21 and Belgian corporate steps.
CMB.TECH is in a “Goldilocks moment,” Chief Executive Alexander Saverys said, thanks to timing vessel orders, deals and firm markets. But Saverys also said the company does not know how long this will go on. The group plans to use the good run to boost its balance sheet, pay out dividends and secure some of the gains with longer charters, he said.
Vessel sales drove the numbers. CMB.TECH reported that ships handed over to new owners in the first quarter brought in about $267.4 million in capital gains, mainly from six VLCCs and two Capesize dry-bulk ships. The company also expects two more VLCC sales and one Suezmax deal to add more gains in the second quarter.
Freight rates stayed high this quarter. CMB.TECH said first-quarter VLCC spot rates hit $70,204 a day, more than double last year’s $35,101. Suezmax spot rates reached $91,849 a day, also up from $41,391. TCE, or time charter equivalent, is the daily revenue measure shipping firms use to compare spot trips with vessel leases, after voyage costs.
Tanker markets remain focused on the Strait of Hormuz. Saverys told Reuters the market could break either way if the Gulf route reopens. Some investors bet on a surge in restocking, while others might misjudge how many tankers can get back to work fast. Latest Reuters figures show tanker earnings off their highs, now at about $80,000 to $120,000 a day.
Tanker stocks lagged in New York around midday, with Frontline, DHT Holdings, and International Seaways all down. Shares of CMB.TECH on U.S. exchanges moved up $1.81 to $16.87. The gains point to CMB.TECH’s earnings and payout announcement powering Tuesday’s rally, not a sector-wide move.
CMB.TECH trades on Euronext Brussels and the New York Stock Exchange as CMBT, and on Euronext Oslo Børs with the ticker CMBTO. The company says its main listing is Brussels, where the stock is part of the BEL All-Share, BEL Mid and BEL industrials indices.
There’s a risk the earnings aren’t sustainable. If Hormuz reopens, more ships could hit the market and rates might fall. Some of the profit on Tuesday was tied to vessel sales instead of ongoing freight business. The planned distribution has not cleared approvals, so shareholders aren’t paid yet.
