CMB.TECH Acquires Significant Stake in Golden Ocean Group

Author: Owen Jenkins Updated: 03-04-2025 04:30 PM

CMB.TECH Expands Its Portfolio with Golden Ocean Stake

CMB.TECH NV (NYSE: CMBT & Euronext: CMBT), a leading maritime company, has announced a significant move by acquiring 81,363,730 shares in Golden Ocean Group Limited (NASDAQ: GOGL). This acquisition represents about 40.8% of Golden Ocean's outstanding shares and votes, fulfilling a crucial part of CMB.TECH's strategic diversification.

The Details Behind the Acquisition

The transaction includes buying shares at a price of 14.49 USD per share. By securing a substantial stake in Golden Ocean, CMB.TECH aims to position itself as a long-term shareholder while enhancing its investment in a modern dry bulk fleet.

Leadership Insights

Alexander Saverys, the CEO of CMB.TECH, described the acquisition as a milestone for the company's diversification strategy. He expressed excitement about collaborating with Golden Ocean's board and management to foster growth and uphold the legacy established by Mr. Fredriksen.

Financial Plans and Support

In anticipation of potential impacts on Golden Ocean's financing negotiations, CMB.TECH has already identified a bank syndicate to manage the refinancing of any current outstanding debt. This proactive approach demonstrates CMB.TECH's strategic planning and commitment to financial stability.

About CMB.TECH

CMB.TECH is a dynamic and forward-thinking maritime group headquartered in Antwerp, Belgium. With a vast portfolio of over 150 vessels—including crude oil tankers, dry bulk carriers, container ships, chemical tankers, and offshore wind support vessels—the company has diversified its operations to include hydrogen and ammonia fuel production. CMB.TECH prides itself on being adaptable to the evolving maritime landscape.

Global Presence

With offices spanning Europe, Asia, the United States, and Africa, CMB.TECH is positioned to influence global shipping practices. Its presence in major markets allows it to remain competitive and innovative.

Understanding Golden Ocean

Golden Ocean Group Limited specializes in transporting dry bulk cargoes and is incorporated in Bermuda. As of early 2025, the fleet consists of 91 vessels, boasting an impressive total capacity of around 13.7 million deadweight tonnes. Golden Ocean's ordinary shares are actively traded on the Nasdaq and have a secondary listing in Norway.

Commitment to Growth

The strategic investment by CMB.TECH positions both companies for a promising future, leveraging their strengths in the maritime industry. With a solid foundation and an ambitious vision, the partnership could redefine standards in shipping and logistics.

Frequently Asked Questions

What is the significance of CMB.TECH's acquisition?

The acquisition strengthens CMB.TECH's position in the maritime industry and aligns with its diversification strategy by investing in Golden Ocean.

How much of Golden Ocean does CMB.TECH own after the acquisition?

CMB.TECH acquired approximately 40.8% of Golden Ocean's outstanding shares.

What is the main goal of CMB.TECH with this acquisition?

The primary goal is to become a long-term shareholder and enhance investment in a modern dry bulk fleet.

Who is the CEO of CMB.TECH?

Alexander Saverys is the current CEO of CMB.TECH, overseeing its strategic initiatives including the Golden Ocean acquisition.

What does Golden Ocean specialize in?

Golden Ocean Group Limited specializes in the transportation of dry bulk cargoes and operates a fleet of vessels in this sector.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

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