CMB.Tech: Stronger And Bigger, But No Longer A Pure Tanker Bet

2026-04-06 22:59:31 ET

As I am analysing more and more shipping companies for trading, I have decided to revisit CMB.Tech ( CMBT ). I have first written an article about the company in April 2025. Since then, share price had quite a bumpy ride. My thesis then was built on market ignoring and not pricing in cyclical earnings potential, especially with high spot prices. However, as of today, I see that the situation is different and to be fair it is worth revisiting this opportunity. Golden Ocean merger , changed overall business profile. In my opinion, the company moved from being just a tanker operator to wider shipping platform with significant dry bulk segment. Yet, we also have geopolitical environment, which is still heating up in Middle East. Hormuz risk and Iran factor is directly affecting tanker market. ...

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