The company recorded a capital gain of about $267 million from vessel sales delivered to buyers during the quarter. Average spot earnings for VLCC tankers doubled from a year ago to $70,204 per day, while Suezmax average spot earnings more than doubled to $91,849 per day.<\/p>\n
The company expects spot results to be even stronger in the second quarter than in the first. Its contract backlog grew to $3.26 billion thanks to the addition and extension of time charters for Suezmax vessels.<\/p>\n
CMB Tech, however, warned that the current “Goldilocks” conditions may not last amid global trade uncertainty and the growing order book.<\/p>\n
It plans to propose an interim cash distribution of $0.64 per share to investors.<\/p>\n
(Reporting by Mathias de Rozario and Jerome Terroy in Gdansk, editing by Milla Nissi-Prussak)<\/p>\n","protected":false},"excerpt":{"rendered":"The company recorded a capital gain of about $267 million from vessel sales delivered to buyers during the…\n","protected":false},"author":2,"featured_media":121118,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[28],"tags":[1216,135,24088,54,31300,102,1738,101],"class_list":["post-121117","post","type-post","status-publish","format-standard","has-post-thumbnail","category-strait-of-hormuz","tag-belgium","tag-business-news","tag-cmb-tech","tag-europe","tag-financial-results","tag-hormuz","tag-mena","tag-strait-of-hormuz"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116601131072266787","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/121117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=121117"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/121117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/121118"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=121117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=121117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=121117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}