CMB.Tech rises after Hormuz disruption drives tanker rates sharply higher

CMB.TECH NV

19/05/2026 08:34

** Shares in Belgian tanker company CMB.Tech CMBT.BR rise 5% after its Q1 core profit surged on higher freight rates driven by the disruption in the Strait of Hormuz

** CEO Alexander Saverys says the company is "reaping the benefits of a red-hot tanker market" through vessel sales, high spot rates and long-term charters

** Degroof Petercam says CMB.Tech is benefiting from the Hormuz disruption both directly through higher shipping rates and indirectly through vessel sales at elevated prices, with capital gains reaching about $267 million in Q1

** KBC Securities adds a $0.64 per share distribution came as a positive surprise, while the contract backlog rose to $3.3 billion from $3.1 billion following new and extended Suezmax charters

** Including Tuesday's rise, the stock has gained 69% YTD

(Reporting by Jerome Terroy)

((jerome.terroy@thomsonreuters.com))