The Antwerp-based maritime group CMB.TECH is set to become one of the largest maritime companies in the world following a merger with the Norwegian shipping company Golden Ocean. With the merger, Compagnie Maritime Belge (CMB) will have a fleet of more than 250 ships, including 115 dry bulk carriers. Its fleet will have a combined value of an estimated 11 billion US Dollars.
Antwerp shipping company CMB.TECH set to become one of the largest maritime companies in the world
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Earlier this year, CMB.TECH acquired almost 40% of Golden Ocean for almost 1.2 billion dollars. It purchased its 40% stake from the Norwegian shipping magnate John Fredriksen, who also owns the oil tanker shipping company Frontline.
Mr Fredriksen is no stranger to Antwerp. Both he and CMB.TECH were formerly reference shareholders in the oil shipping company Euronav. During this time there were several clashes between management in Antwerp and the Norwegian.
Golden Ocean currently transports mainly iron ore, but also transports other bulk goods including coal, grain and steel. According to forecasts, markets for these goods are expected to grow in the coming years. Most bulk carriers at sea are also quite old, making this a good time for CMB.TECH to invest.
CMB.TECH recently announced its figures for the second quarter of 2025. Turnover increased significantly compared to last year, although its net result was negative. Although CMB.TECH is very active in fossil fuel markets, it is committed to using hydrogen and ammonia fuels in the future.