Cmb.Tech Nv (NYSE: CMBT)

Euronav NV (CMBT), a Belgian-based company, operates in the maritime and industrial cleantech sector. The company is a leading independent crude oil tanker operator, with a diverse fleet of vessels, including VLCC and Suezmax vessels. Euronav's main business activities involve the transportation of crude oil, refined petroleum products, and other liquids to various destinations around the world. The company operates in the tanker segment, the Bochem division, and the Bocimar division, each with its unique focus and offerings.

The tanker segment is the largest and most significant segment of Euronav's business. The company operates a fleet of 74 large crude tankers, which are used to transport crude oil and refined petroleum products to various destinations around the world. This segment is characterized by a high level of competition, with several major players in the market, including Euronav's key competitors, such as Frontline and Gener8 Maritime.

The Bochem division is a significant segment of Euronav's business, focusing on the transportation of chemical products. The division operates a fleet of eight 25,000 DWT chemical tankers, which are used to transport various chemical products, including fertilizers, pesticides, and other chemicals. The Bochem division is characterized by a high level of specialization, with a focus on transporting specific types of chemicals.

The Bocimar division is another significant segment of Euronav's business, focusing on the transportation of dry bulk commodities, such as coal, iron ore, and grains. The division operates a fleet of 28 Newcastlemax bulk carriers, which are used to transport dry bulk commodities to various destinations around the world. The Bocimar division is characterized by a high level of competition, with several major players in the market, including Euronav's key competitors, such as BHP and Rio Tinto.

Euronav generates revenue primarily through the transportation of crude oil, refined petroleum products, and other liquids. The company's primary products include crude oil, refined petroleum products, and other liquids. Its customer base is diverse, with clients from various industries, including energy, chemicals, and manufacturing.

In December 2023, Euronav announced the acquisition of CMB.TECH, a leading cleantech maritime company that builds, owns, operates, and designs large marine and industrial applications that run on dual-fuel or monofuel (diesel-)hydrogen and (diesel-)ammonia engines. The acquisition is part of Euronav's strategy to diversify its fleet and reduce its dependence on traditional fossil fuels.

Euronav's future strategy is focused on diversifying its fleet, decarbonizing its operations, and optimizing its existing fleet. The company plans to achieve this through the acquisition of CMB.TECH, the acquisition of second-hand future-proof vessels, and the ordering of future-proof newbuildings. Euronav also plans to focus on the development of low-carbon engines, fuel supply systems, and the production of low-carbon fuels.

In addition to its tanker segment, Euronav operates a fleet of container vessels, including four container vessels of 6,000 twenty foot equivalent units (TEU) and one container vessel of 1,400 TEU. The company's container shipping business is focused on the transportation of goods between Europe and Asia. Euronav's container vessels are equipped with ammonia engines and are designed to operate in icy or polar waters.

The Delphis fleet includes four container vessels of 6,000 TEU (two of which are newbuildings under construction that are currently expected to be delivered in 2024, and two of which are on the water) which are ready to be fitted with ammonia engines and one container vessel of 1,400 TEU that is a newbuilding under construction (currently expected to be delivered in 2026) fitted with a dual fuel ammonia engine.

The Windcat group is a leading offshore wind personnel transfer company, operating a fleet of 57 Crew Transfer Vessels (CTVs) and five Commissioning and Service Operating Vessels (CSOVs). The company's vessels are designed to operate in harsh offshore environments and are equipped with advanced technology to ensure safe and efficient transportation of personnel to and from offshore wind farms.

CMB.TECH is a leading company in the development and production of hydrogen and ammonia-powered vessels and equipment. The company's Technology & Development Division is responsible for the development of hydrogen and ammonia-powered engines, fuel supply systems, and production of low-carbon fuels. CMB.TECH's Industry Division focuses on the development of heavy industrial applications, including the production of green ammonia and hydrogen. CMB.TECH's H2 Infra Division offers hydrogen and ammonia fuel to its customers, either through its own production or by sourcing it from third-party producers. The division includes the Maritime & Public H2 Production & Refueling Station in Antwerp, which is the world's first maritime and public H2 refueling station. The station produces hydrogen on site through a 1.2-megawatt (MW) electrolyzer and features a 950-bar hydrogen compressor, allowing it to deliver hydrogen at a high pressure, suitable for use in maritime and industrial applications.