Euronav NV Q2 2025 Earnings Recap

Cmb.Tech reported a challenging Q2 following its merger with Golden Ocean, posting a loss of $7.5 million, while simultaneously expanding its fleet and contract backlog.

Key Takeaways

• Completed merger with Golden Ocean, creating a diversified maritime group with a fleet of 250 vessels valued near $11 billion.
• Q2 revenues increased but incurred a $7.5 million loss due to integration costs and market exposure, specifically a $50 million loss related to Golden Ocean.
• Maintained a robust contract backlog of approximately $2.9 billion, underpinned by new long-term charters.
• Projected free cash flow could range from a loss of $35 million to a gain of $380 million depending on market conditions.
• Announced a Q2 dividend of $0.05 per share, payable in October.