The Antwerp shipowner family Saverys is changing the corporate name of tanker company Euronav to CMB.Tech. This should highlight the company’s expansion from classic oil transport to more environmentally friendly services.
Euronav’s website was immediately taken offline.
Officially, the company’s name will change as of October 1. From then on, the name Euronav will only strike the oil tanker division within the group.
Investors will notice the change even sooner, as the intention is to change the stock market stickers on Euronext and the New York Stock Exchange from EURN to CMBT as early as July 15.
CMB is a reference to Compagnie Maritime Belge, the “primal shipping company” of the Saverys family.
The Antwerp port family wants to make Euronav less dependent on oil transport and steer a greener course.
To that end, as a first step, it brought Euronav together with CMB.Tech. That was the division of the CMB shipping company that focuses on cleantech, such as ships that transport green hydrogen.
So from now on, CMB.Tech will be the umbrella name for “a diversified and future-proof maritime group with more than 150 ocean-going vessels,” it says.
Among other things, the group focuses on large maritime and industrial applications on hydrogen or ammonia, which are seen as sustainable alternatives to fossil fuels.
On other hand CMB.TECH and Damen ink agreement for four hydrogen-powered tug susing CMB.TECH’s innovative dual fuel hydrogen technology that will significantly reduce emissions.
Four ASD Tugs 2812 FF-H2
The collaboration for the first four vessels was signed on 23 May at Albwardy Damen in Sharjah. The signing took place during the 27th International Tug & Salvage (ITS) Convention in Dubai.
Earlier that day, classification society Lloyd’s Register presented CMB.TECH and Damen with an approval in principle (AiP) for the hydrogen solution that will be installed in the tugs.
Decarbonising the industry
Damen and CMB.TECH have previously cooperated on the development of a series Commissioning Service Operations Vessels (CSOV) – which are powered by dual fuel hydrogen generator sets – the so-called Elevation Series, that Damen is building for CMB.TECH’s subsidiary Windcat.
Tugs will primarily run on hydrogen
The dual fuel hydrogen ASD Tugs 2812 FF-H2, with 80-tonnes bollard pull, that meet the most stringent IMO Tier III and EU Stage V standards, are a new step in the parties’ cooperation. The vessels will feature four highspeed dual fuel hydrogen engines, designed to minimise NOx and CO2 emissions. They will also have modular storage systems for compressed hydrogen, ensuring safe storage below deck. Each tug can carry up to 16 hydrogen bottles, storing a total of 736kg of pressurized hydrogen at 350 bar.
While these tugs will primarily run on hydrogen, they’re equipped to switch to traditional fuel if hydrogen isn’t available and can operate on 100% traditional fuel if needed. The tugs feature a total of 160m3 fuel holds.
About CMB.TECH
CMB.TECH is a diversified and future-proof maritime group, leading the way in sustainability.
With a fleet of over 150 seagoing vessels in dry bulk, container transport, chemical tankers, offshore wind, and oil tankers, we develop low-carbon solutions across all our divisions.
They are not just users of clean fuels
Our focus lies in large-scale marine and industrial applications powered by hydrogen or ammonia, showcased through our various brands. At CMB.TECH, they are not just users of clean fuels; we also produce, distribute, and transport hydrogen and ammonia, playing an integral role in the realm of low-carbon fuels. CMB.TECH is committed to becoming the global benchmark for sustainable shipping.The company is listed on Euronext Brussels and the NYSE under the unique code ‘EURN
