CMB.TECH has sold the Bristol, one of the youngest tankers in the Euronav fleet, locking in a capital gain of approximately $56.9 million as the Belgian maritime group continues to capitalise on robust crude carrier valuations.

The 2024-built, 156,851 dwt suezmax is being offloaded by the Alexander Saverys-led company, with delivery to an undisclosed buyer scheduled for the fourth quarter. CMB.TECH did not disclose the sale price or the identity of the purchaser. The gain will be recorded in the fourth quarter, determined by the net proceeds relative to the vessel's book value. The disposal of a vessel only two years after delivery underscores how elevated secondhand prices for modern, eco-efficient tankers are creating rare opportunities for owners to monetise near-new tonnage at premiums to historical norms.

This transaction follows the June sale of the 2023-built sister vessels Brest and Brugge, which produced a combined capital gain of $100.5 million. Shipbrokers linked that pair to Greece-based Naftomar at approximately $110 million per vessel.

Taken together, the three modern suezmax disposals are expected to generate combined gains of roughly $157.4 million.

CMB.TECH's broader tanker disposal programme has yielded substantial returns throughout 2026. The company recently sold the 2016-built VLCC Donoussa, contributing an additional $74.4 million gain in the fourth quarter. Earlier disposals included six VLCCs generating $261.1 million, the VLCC pair Ingrid and Ilma with gains of $98.2 million, and the 2007-built suezmax Sienna, which brought in $29.2 million.

Including the Bristol, CMB.TECH has announced approximately $620 million in total gains from tanker sales during 2026.

The Antwerp-based group previously stated that proceeds from the wider disposal programme would be directed toward debt repayment, with 50% of the gains earmarked for distribution to shareholders.

CMB.TECH operates approximately 250 vessels following its combination with Golden Ocean. Dry bulk vessels now constitute the largest segment of the fleet, with crude tankers representing the second-largest exposure. The systematic sale of crude tankers reflects a rebalancing of the portfolio following that combination, shifting the group's centre of gravity toward dry bulk while crystallising gains from a tanker segment that has benefited from strong freight market conditions.

Source: Splash247