CMB.Tech Acquiring 40.8% stake in Golden Ocean
CMB.Tech acquired 40.8% of Golden Ocean, the leading dry bulk shipping platform for $1.2bn in cash financed by a 21 month bridge loan. We applaud the further diversification in CMB's high conviction large vessel dry bulk segment. Buy rating reiterated.Euronav is a provider of maritime shipping and offshore services engaged primarily in the transportation and storage of crude oil. As of Apr. 4, 2017, Co. owned and operated a modern fleet of 55 vessels (including four chartered-in vessels) with an aggregate carrying capacity of approximately 13.7 million deadweight tons, or dwt, consisting of 31 very large crude carriers, one ultra large crude carrier, 21 Suezmax vessels, and two floating, storage and offloading vessels. Co. has two operating segments: the operation of crude oil tankers on the international markets (tankers) and the floating production, storage and offloading operations.
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