CMB.Tech announced it has sold the 2024-built Euronav Suezmax Bristol for a capital gain of around $56.9m.
The deal is far from the first time CMB.Tech has cashed in on high asset prices in recent months; the owner has sold a total of $626.6m worth of vessels in 2026 to date, according to a tally of those in its first quarter 2026 results and subsequent announcements.
In late June, CMB.Tech announced the disposal of 2023-built Suezmaxes Brest and Brugge for a capital gain of $100.5m for delivery in Q3.
CMB.Tech’s second quarter results are due on 27 August, but in its first quarter results in May the company said it had delivered eight vessels in the first quarter — two Capesizes and six VLCCs — and was due to deliver a further two VLCCs and one Suezmax in the second quarter.
Commenting on the June sale of Bristol’s sister ships CMB.Tech CEO, Alexander Saverys, said: “Historically strong Suezmax valuations have created an opportunity to unlock value at an attractive point in the cycle. We will deploy those returns in line with our capital allocation strategy and invest in the continued growth of our diversified maritime group.”
Saverys previously said that the company’s strategy was to strengthen its balance sheet and pay dividends in the current red-hot market, while using some of the strength to lock in to longer term charters.