An update from Euronav ( (CMBT) ) is now available.
On April 14, 2025, CMB.TECH NV announced a significant agreement with Fortescue to charter a new ammonia-powered ore carrier, marking a step forward in their commitment to decarbonize the shipping industry. The 210,000-dwt Newcastlemax vessel, featuring a dual fuel engine, is expected to be delivered by the end of 2026 and will transport iron ore from Pilbara to global customers. This collaboration underscores Fortescue’s leadership in adopting zero-emission fuels and aligns with their goal of achieving Net Zero Scope 3 emissions by 2040, while CMB.TECH aims to stimulate more green ammonia production projects.
More about Euronav
CMB.TECH is a diversified maritime group headquartered in Antwerp, Belgium, operating over 150 vessels including tankers, bulk carriers, and container ships. The company is engaged in the production and supply of hydrogen and ammonia fuels, with a strong focus on decarbonizing the maritime industry. CMB.TECH is publicly traded on Euronext Brussels and the NYSE under the ticker CMBT.
YTD Price Performance: -15.99%
Average Trading Volume: 81,492
Technical Sentiment Signal: Strong Buy
Current Market Cap: $1.71B
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