CMB.TECH has sold the 2024-built suezmax Bristol, locking in a capital gain of about $56.9m, according to Splash247, as the Belgian group monetises strong crude carrier values.
Suezmax Bristol Sale: $56.9m Gain, Q4 Delivery
The Antwerp-based group, led by Alexander Saverys, is offloading the 156,851 dwt Bristol with delivery to an undisclosed buyer scheduled for the fourth quarter, Splash247 reported. CMB.TECH did not reveal the sale price or buyer identity. The gain will be recorded in the fourth quarter based on the net proceeds and the vessel's book value.
The Bristol is one of the youngest tankers in the Euronav fleet, Splash247 reported.
2026 Disposal Programme Passes $620m
The Bristol deal follows the June sale of the 2023-built sister ships Brest and Brugge, which generated a combined gain of $100.5m, according to Splash247. Shipbrokers linked that pair to Greece's Naftomar at around $110m per vessel.
The three modern suezmax disposals — Bristol, Brest and Brugge — should produce combined gains of approximately $157.4m, the report said.
CMB.TECH has also recently sold the 2016-built VLCC Donoussa, adding another $74.4m gain in the fourth quarter. Earlier disposals in the programme include:
- Six VLCCs generating $261.1m
- The VLCC pair Ingrid and Ilma, with gains of $98.2m
- The 2007-built suezmax Sienna, which brought in $29.2m
Including the Bristol, CMB.TECH has announced around $620m in gains from tanker sales during 2026, Splash247 reported.
| Asset | Gain | Timing/Notes |
|---|---|---|
| Bristol (2024-built suezmax, 156,851 dwt) | ~$56.9m | Delivery Q4; buyer and price undisclosed |
| Brest and Brugge (2023-built suezmax pair) | $100.5m combined | Sold June; shipbrokers cited ~$110m per vessel, linked to Naftomar |
| Three modern suezmax disposals | ~$157.4m combined | Bristol, Brest, Brugge |
| Donoussa (2016-built VLCC) | $74.4m | Gain in Q4 |
| Six VLCCs | $261.1m | Earlier disposals |
| Ingrid and Ilma (VLCC pair) | $98.2m | Earlier disposals |
| Sienna (2007-built suezmax) | $29.2m | Earlier disposal |
Debt Repayment and Shareholder Returns
The Antwerp-based group previously said proceeds from the wider disposal programme would be used to repay debt, with 50% of the gains earmarked for distribution to shareholders, Splash247 reported. That capital allocation gives the sale series a direct financial function beyond portfolio pruning: it reduces leverage and returns cash to investors.
Fleet Composition Shifts Toward Dry Bulk
Following the combination with Golden Ocean, CMB.TECH operates about 250 vessels, with dry bulk now the largest part of the fleet and crude tankers the second-largest exposure, according to the report. The latest suezmax and VLCC sales continue to trim the tanker leg of that fleet, while freeing capital for debt paydown and distributions.
For freight forwarders and charterers tracking crude tanker supply, the sale is another data point in a market that Splash247 describes as one of strong crude carrier values. The Bristol's buyer remains undisclosed, so it is not yet clear whether the vessel will stay in the same trading pool or shift to a new operator. What is certain, Splash247 reported, is the gain — about $56.9m — will be booked in the fourth quarter.
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