<\/p>\n
Belgian oil tanker company CMB.TECH<\/strong> posted third-quarter profit above market expectations on Thursday, powered by a long-term strategy of decarbonization and diversification of its fleet.<\/span><\/p>\n “From a supply-side perspective, the outlook for the tanker fleet remains generally favorable for Very Large Crude Carriers (VLCCs)<\/strong>,” the group said in a statement.<\/p>\n It cautioned about the Suezmax segment, where the order book has grown significantly, with an orderbook-to-fleet (OB\/F) ratio of 16.3%, more than double that of VLCCs.<\/p>\n The group, formed after last year’s Euronav-Compagnie Maritime Belge takeover, acknowledged near-term challenges to oil demand growth<\/strong> from headwinds in China and the Middle East.<\/p>\n “Geopolitical risks in the Middle East, especially around the Strait of Hormuz, will remain a key watchpoint,” it said.<\/p>\n Many container ships now take a longer route around the Horn of Africa due to attacks by Yemen’s Houthi militants in the Red Sea region, which they call solidarity for Palestinians in Gaza.<\/p>\n However, CMB.TECH said it remained cautiously optimistic due to favorable long-term structural factors, particularly in non-OECD Asia, with a focus on India.<\/p>\n “Overall, the CMB.TECH fleet is well-positioned to navigate these evolving global market conditions,” it added.<\/p>\n “Our strategy of decarbonization, diversification and optimization of our fleet is in full swing,” Chief Executive Alexander Saverys said.<\/p>\n CMB.TECH said its net gains dropped 14.4% to $98.1 million in the period, but exceeded an average forecast of $43.62 million, according to data compiled by LSEG.<\/p>\n (Reuters)<\/em><\/p>\n<\/p><\/div>\n maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":" Belgian oil tanker company CMB.TECH posted third-quarter profit above market expectations on Thursday, powered by a long-term strategy of decarbonization and diversification of its fleet. “From a supply-side perspective, the outlook for the tanker fleet remains generally favorable for Very Large Crude Carriers (VLCCs),” the group said in a statement. It cautioned about the Suezmax …<\/p>\n","protected":false},"author":1,"featured_media":51342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-51341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/51341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=51341"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/51341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/51342"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=51341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=51341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=51341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}