Belgian shipping group CMB.TECH continues to capitalize on high tanker prices, having sold five Suezmax tankers so far this year.
CMB.TECH announced that it has sold the 165,000 DWT Suezmax oil tanker “Stella,” built in 2011, and that the vessel has now been delivered to its new owner. The identity of the buyer and the transaction price were not disclosed, but the market estimates the net sale price of the vessel to be close to $80 million.
According to market reports, following the sale, the vessel was fixed on a one-year charter to the Swiss trading firm Trafigura at a daily rate of approximately $120,000—a figure that underscores the strong earnings potential driving the sharp rise in secondhand vessel prices.
Data from VesselsValue indicates that the tanker, now renamed “Spitfire”, is owned by an undisclosed Singapore-based entity and carries a current valuation of approximately $95 million.
The “Stella” is the fifth Suezmax tanker sold by CMB.TECH this year, following the earlier sales of the “Sienna”, “Brest”, “Brugge”, and “Bristol”. The total disclosed capital gain from this series of sales amounts to approximately $246 million.
The sale of these Suezmax tankers is part of CMB.TECH’s strategy to monetize its tanker assets. The shipowner has also agreed to sell nine Very Large Crude Carriers (VLCCs) this year. Including the “Stella”, the total disclosed capital gain from the sale of VLCCs and Suezmax tankers stands at nearly $680 million.
Market analysts anticipate that CMB.TECH may continue to capitalize on the currently high valuations of secondhand tankers to sell further vessels.
Following the successful sale of the “Stella”, CMB.TECH’s fleet comprises approximately 235 vessels, including five VLCCs and 14 Suezmax tankers. As the company expands its portfolio into sectors such as dry bulk carriers, chemical tankers, container ships, and offshore vessels, the proportion of tankers within its fleet has gradually decreased.