FORTESCUE AND CMB.TECH SIGN MILESTONE AGREEMENT FOR 12 AMMONIA BULKERS TO ACCELERATE ZERO-EMISSIONS SHIPPING
Rhea-AI Summary
CMB.TECH (NYSE:CMBT) and Fortescue signed a milestone charter agreement for up to 12 ammonia-capable Newcastlemax bulkers (210,000 dwt each). Up to three will be delivered with dual-fuel ammonia engines by end-2026, with nine ammonia-ready vessels. If fuelled by green ammonia, the fleet could cut about 250,000 tonnes of CO₂ annually versus conventional marine fuels. The deal aims to accelerate zero-emission shipping and scale green ammonia demand. CMB.TECH also plans to announce its Q2 2026 results on 27 August 2026.
Positive
- Fortescue to charter up to 12 ammonia-capable Newcastlemax vessels from CMB.TECH’s Bocimar division
- Up to three dual-fuel ammonia vessels expected in service by end of 2026
- Remaining nine vessels ammonia-ready, enabling future conversion to ammonia fuel
- Potential annual reduction of about 250,000 tonnes of CO₂ if fuelled by green ammonia
- Long-standing Fortescue–Bocimar partnership reinforced around shipping decarbonisation
Negative
- None.
News Market Reaction – CMBT
In the Jun 22 session, CMBT gained 5.89%, reflecting a notable positive market reaction. Argus tracked a peak move of +7.1% during that session. Our momentum scanner triggered 30 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 21 | General meeting | Positive | -0.6% | Shareholders approved 2025 accounts and a sizeable share premium distribution. |
| May 19 | Q1 2026 earnings | Positive | +10.3% | Very strong Q1 profit, revenue and EPS with large vessel-sale capital gains. |
| May 07 | Earnings preview | Neutral | -0.1% | Announcement of Q1 2026 release date and earnings webcast details. |
| Apr 21 | Annual report | Neutral | -3.4% | Publication of 2025 annual report and notice of May shareholder meetings. |
| Mar 31 | FY 2025 results | Negative | -0.9% | Full-year 2025 results with higher revenue but much lower profit and EPS. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases draw strong positive reactions, while governance and routine reporting updates often coincide with mild downside.
Key Terms
newcastlemax technical
dual-fuel ammonia engines technical
green ammonia technical
zero-emission shipping technical
deadweight technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Antwerp, June 22, 2026 (GLOBE NEWSWIRE) -- CMB.TECH NV (“CMBT”, “CMB.TECH” or “the company”) (NYSE: CMBT, Euronext Brussels: CMBT and Euronext Oslo Børs: CMBTO) and Fortescue have signed a milestone agreement for the charter of up to 12 ammonia-capable vessels, marking a significant step towards decarbonising global shipping and advancing the adoption of ammonia as a shipping fuel.
Under the agreement, Fortescue will charter a fleet of 12 Newcastlemax vessels (210,000 dwt) from Bocimar, the dry bulk division of CMB.TECH.
Up to three of the vessels will be delivered with dual-fuel ammonia engines and are expected to enter into service by the end of 2026. The remaining nine vessels will be ammonia-ready and can be converted to operate on ammonia in the future.
If fuelled by green ammonia, the combined fleet could reduce carbon dioxide emissions by approximately 250,000 tonnes a year compared with conventional marine fuels.
Fortescue Director Integrated Operations, Katie Charuga:
“The shipping industry doesn’t need more talk. It needs action.
Green ammonia is one of the clearest pathways to reducing carbon dioxide emissions from shipping, and these vessels represent a practical step towards that future. By backing new technologies and working with partners who are prepared to lead, we can help drive the uptake of green ammonia in shipping.
Fortescue’s Green Pioneer demonstration vessel has already shown that ammonia can be used safely and effectively in marine operations. The next challenge is scaling the use of green ammonia.
By investing in ammonia-capable vessels and working with partners who share our ambition, we are helping create demand for green ammonia and supporting the technologies needed to reduce emissions from global shipping.”
Alexander Saverys, CEO of CMB.TECH said:
“Fortescue and Bocimar have built a strong partnership over more than two decades, grounded in shared values and a clear commitment to decarbonise shipping. This agreement marks an important step in showcasing ammonia as a viable marine fuel and advancing the transition to zero-emission shipping. It also sends a powerful signal to the market, particularly at a time when there is doubt about the decarbonisation of shipping: our sector can decarbonise at scale. It just takes like-minded, determined partners who walk the talk.”
Announcement Q2 2026 results – 27 August 2026
About CMB.TECH
CMB.TECH (all capitals) is one of the largest listed, diversified and future-proof maritime groups in the world with a combined fleet of about 250 vessels: dry bulk vessels, crude oil tankers, chemical tankers, container vessels and offshore energy vessels. CMB.TECH also offers hydrogen and ammonia fuel to customers, through own production or third-party producers.
CMB.TECH is headquartered in Antwerp, Belgium, and has offices across Europe, Asia and Africa.
CMB.TECH is listed on Euronext Brussels and the NYSE under the ticker symbol “CMBT” and on Euronext Oslo Børs under the ticker symbol “CMBTO”. More information can be found at https://cmb.tech
About Fortescue
Fortescue exists to accelerate decarbonisation at a global scale, rapidly and profitably. The Company is committed to delivering on its ambitious Real Zero Target – an emissions reduction target that aims to eliminate Scope 1 and 2 emissions from its Australian terrestrial iron ore operations by the end of 2030. Fortescue is investing significantly in research and development to diversify and grow its core business by combining the operational expertise of a world-leading mining business with groundbreaking technologies. As the Company expands its global footprint, Fortescue’s growth remains deliberate and commercially focused.
Beyond business, Fortescue is committed to building thriving communities and delivering lasting social and economic impact. Through training, employment and business development opportunities, Fortescue is ensuring its success delivers shared and enduring value. fortescue.com
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbour legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
This information is published in accordance with the requirements of the Continuing Obligations on Euronext Oslo Børs.
Attachments
- Mineral Latvija at Port Hedland
- Naming Ceremony with Alexander Saverys and Katie Charuga as godmother of Mineral Australia
Katrien Hennin CMB.TECH +32 499393470 katrien.hennin@cmb.tech Joris Daman CMB.TECH +32 498617111 joris.daman@cmb.tech