Belgian shipping group CMB.TECH has continued to cash in on elevated tanker values, selling its fifth suezmax this year and locking in another $59.6m capital gain.
The Alexander Saverys-led company said it has already delivered the 2011-built, 165,000 dwt Stella to its new owner and will book the gain in the fourth quarter.
CMB.TECH did not disclose either the buyer or sale price, but market sources have estimated the deal at at least $80m.
The numbers in CMB.TECH’s own accounts point to a similar level. Stella and the 2007-built Sienna had a combined carrying value of $32.9m at the end of 2025. Sienna subsequently sold for $41.9m, producing a $29.2m gain, implying a carrying value of around $12.7m and leaving roughly $20.2m attributable to Stella. Adding the latest $59.6m gain suggests a net sale price close to $80m.
Market reports have also linked Stella to a one-year charter with Trafigura at around $120,000 per day following the sale, highlighting the earnings backdrop behind the sharp increase in secondhand values.
SEB analysts described the disposal as another positive step in CMB.TECH’s tanker divestment programme.
The bank carries Stella at about $85m and said that, given the strength of the secondhand market and the premiums achieved on earlier CMB.TECH sales, it would have been surprised to see the vessel change hands below that level.
Online pricing platform VesselsValue now lists the suezmax as Spitfire under an unknown Singaporean owner and worth roughly $95m.
The deal is CMB.TECH’s fifth suezmax sale of 2026, following Sienna, Brest, Brugge and Bristol. Those disposals have now generated approximately $246m in disclosed capital gains.
The suezmax sales form part of a much broader tanker monetisation drive.
CMB.TECH has also disposed of nine VLCCs this year, including a six-ship package that generated $261.1m in gains, the Ingrid and Ilma pair for another $98.2m and the 2016-built Donoussa, which is expected to add $74.3m. Including Stella, disclosed gains from CMB.TECH’s VLCC and suezmax disposals in 2026 are approaching $680m.
SEB said it expects more sales to follow, with the group likely to continue opportunistically monetising crude tanker assets while valuations remain elevated.
Following the latest disposal CMB.TECH counts five VLCCs and 14 suezmaxes remaining. The group has steadily reduced its crude tanker exposure as its portfolio has broadened across dry bulk, chemical tankers, containerships and offshore vessels. Its overall fleet now stands at about 235 ships.
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Adis Ajdin
Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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