CMB - Compagnie Maritime Belge

What CMB - Compagnie Maritime Belge does

CMB (Compagnie Maritime Belge) is a family-owned maritime holding group founded in 1895 and headquartered in Antwerp, Belgium. Following the 2023-2024 strategic restructuring, CMB controls 88.61% of CMB.TECH NV (previously Euronav NV), creating a diversified maritime and cleantech platform operating more than 160 ocean-going vessels across crude oil tankers (VLCCs, Suezmaxes, FSO vessels), dry bulk carriers, container vessels, chemical tankers, and offshore wind support vessels. Sub-brands include Bocimar (dry bulk), Delphis (containers), Bochem (chemical tankers), Windcat (offshore wind), plus the Euronav tanker brand and the CMB.TECH cleantech division.

CMB.TECH is the technological core of the group, structured around four divisions: Marine (vessel design and ownership), Technology & Development (engine R&D with OEM and shipyard partners integrating drivetrain, storage, and bunkering), H2 Infrastructure (design, development and operation of green hydrogen and ammonia production and distribution assets), and Industry (heavy-duty industrial applications including diesel-to-dual-fuel engine conversion). The proprietary technology stack centers on dual-fuel diesel-hydrogen, dual-fuel diesel-ammonia, and monofuel hydrogen engines, with 106 low-carbon vessels in the future-proof fleet and 46 under construction.

The business model is asset-heavy and project-based, generating revenue through direct fleet operations including vessel chartering and shipping services across multiple maritime segments. The group also supplies hydrogen and ammonia fuel to third-party customers via own production or third-party sourcing. Commercial operations are delivered directly to enterprise customers in the energy and maritime transportation sectors, with no public pricing disclosure given the bespoke nature of vessel chartering and shipping services. International offices support global commercial reach across Europe and Asia.

Name

CMB - Compagnie Maritime Belge

Legal name

Belgi scheepvaartmaatschappij Compagnie Maritime Belge N.V.

Website

https://cmb.be

Company type

Private

Founded year

1895

Operating status

Operating

Headcount range

11–50 employees

Short description

CMB is a family-owned Antwerp-based maritime holding group that controls 88.61% of CMB.TECH (formerly Euronav), operating over 160 vessels across oil tankers, dry bulk, containers, chemical tankers, and offshore wind, with proprietary hydrogen and ammonia dual-fuel engine technology.

Ownership category

akta.pro rank

Headquarters

HQ city

Antwerpen

HQ country

Belgium

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Distribution channels1 record

Marketing channels3 records

Core offering

CMB is a Belgian family-owned maritime group operating a diversified fleet of more than 160 ocean-going vessels across dry bulk shipping (Bocimar), container liner services (Delphis), chemical tankers (Bochem), oil tankers (via its majority stake in CMB.TECH/Euronav), and offshore wind crew-transfer vessels (Windcat). Through its CMB.TECH division, the group also develops and deploys dual-fuel hydrogen and ammonia engine technology and related bunkering and marine engineering services aimed at decarbonizing ocean-going propulsion.

Product overview

CMB (Compagnie Maritime Belge) is a diversified family-owned maritime group based in Antwerp, Belgium. Following the December 2023 acquisition of CMB.TECH by Euronav and the subsequent mandatory takeover by CMB, the combined entity operates under the CMB.TECH brand (effective October 1). The product portfolio includes: (1) CMB.TECH – the cleantech maritime division covering hydrogen/ammonia-powered vessels and industrial applications via Marine, Technology & Development, H2 Infrastructure, and Industry divisions with 106 low-carbon vessels (46 under construction); (2) Euronav – the crude oil tanker division with VLCCs, Suezmaxes, FSO vessels; and (3) operating subsidiaries Bocimar (dry bulk), Delphis (containers), Bochem (chemical tankers), Windcat (offshore wind), plus real estate (MCA Facilities, Maritime Campus Antwerp). The group offers hydrogen and ammonia fuel to customers through own production or third-party sourcing. Headquarters in Antwerp with offices across Europe and Asia.

Differentiator

Problem solved

Functional benefit

Brands

• Bocimar: Dry bulk shipping operations within CMB group
• Delphis
• Bochem
• Windcat

Products and services

• Dry bulk shipping (Bocimar)

Quantifiable outcome

• Over 160 vessels in fleet providing diversified shipping services
• +1 more outcomes

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Linklaters LLPminorImplementation/ SI/ Consulting Partner · 22 December 2023Legal advisor assisting Euronav's Committee of independent directors for the CMB.TECH transaction
• Frontline plccoreStrategic or Co-development Partner · 9 October 2023Integrated solution for strategic and structural deadlock at Euronav. CMB acquired all Euronav shares held by Frontline and Famatown (26.12%), while Euronav sold 24 vessels to Frontline for USD 2.35 billion. The transaction resolved the deadlock and included termination of arbitration proceedings.
• Famatown Finance LimitedcoreStrategic or Co-development Partner · 9 October 2023Partner in the integrated solution along with Frontline. Sold 26.12% stake in Euronav to CMB as part of the strategic restructuring.
• Argo LawminorImplementation/ SI/ Consulting Partner · 9 October 2023Legal advisor for the mandatory bid transaction
• Reed Smith LLPminorImplementation/ SI/ Consulting Partner · 9 October 2023Legal advisor for the U.S. aspects of the mandatory bid

Scale indicators6 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Wärtsilä: Marine engine technology provider developing dual-fuel and future-fuel engine platforms including hydrogen and ammonia; comparable to CMB.TECH's Technology & Development and Industry divisions as an incumbent engine technology partner.
• MAN Energy Solutions: Manufacturer of large marine engines developing ammonia and hydrogen-ready two-stroke propulsion; comparable to CMB.TECH Industry division's engine conversion business and a potential technology partner or competitor.
• A.P. Moller-Maersk: World's largest container shipping line with aggressive green-fuel fleet renewal and methanol dual-fuel newbuilds; broader incumbent comparable in fleet decarbonization strategy, though not a direct competitor in tankers or dry bulk.

Direct peers

• DHT Holdings: Crude oil tanker company operating a fleet of VLCCs; directly comparable in vessel type, customer base (oil majors), and exposure to long-haul crude transportation economics.
• Stolt-Nielsen: Operates the world's largest fleet of deep-sea chemical tankers along with bulkers and tank containers; direct overlap with CMB's Bochem chemical tanker subsidiary and comparable customer base in specialty liquid cargoes.
• Teekay Corporation: Provider of international crude oil and gas transportation with shuttle tankers and conventional tankers; comparable in tanker segment and exposure to offshore energy logistics.
• International Seaways: Operator of a diversified tanker fleet including VLCCs, Suezmaxes, Aframaxes and LR2 product tankers; directly comparable in fleet mix and global tanker market positioning.
• Frontline plc: Independent tanker shipping company operating VLCCs and Suezmaxes; direct competitor in crude oil tanker markets and the counterparty in CMB's recent integrated restructuring transaction.
• Scorpio Tankers: Product and crude tanker company with a modern fleet of MR, LR1, LR2 and VLCC vessels; overlaps with CMB's chemical/product tanker and crude tanker exposure.

Others

• Bocimar (historical): Bocimar is itself a CMB subsidiary for dry bulk, included here as an internal benchmark; broader dry bulk peers like Star Bulk Carriers or Genco Shipping & Mining would also be comparables in the dry bulk segment.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/cmb_nv
• LinkedInlinkedin.com/company/cmb_2

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CMB - Compagnie Maritime Belge