Antwerp (Brussels Morning Newspaper) – Antwerp-based CMB.TECH, formerly Euronav, merges with Norway’s Golden Ocean after buying 40% from tycoon John Fredriksen for $1.2B, expanding global shipping and investing in modern vessels and green fuels.
As VRT News reported, the Antwerp-based shipping group CMB.TECH, formerly known as Euronav, will become one of the world’s largest maritime companies after merging with the Norwegian firm Golden Ocean. Earlier this year, CMB.TECH bought around 40% of Golden Ocean for nearly $1.2 billion.
The stake came from Norwegian shipping tycoon John Fredriksen, who also owns the oil tanker company Frontline. The deal brings together CMB.TECH’s operations in Belgium and Golden Ocean’s fleet in Norway. Industry experts say the merger will strengthen the company’s position in the global shipping market and allow it to compete more effectively in oil and bulk transport.
How will CMB.TECH’s merger with Golden Ocean impacts Antwerp’s shipping industry?”
The Norwegian shipping company Golden Ocean, now merging with Antwerp-based CMB.TECH carries large volumes of iron ore, coal, grain, and steel. Experts at Scheldt predict that demand in these markets will grow in the coming years. At the same time, many bulk carriers currently at sea are quite old. Analysts say this makes it an ideal moment for CMB.TECH to invest in modern vessels.
CMB.TECH recently published its second-quarter 2025 results. The company’s revenue rose significantly compared with last year. While CMB.TECH is heavily involved in fossil fuel shipping; it has pledged to invest in hydrogen and ammonia fuels in the future.
As part of the merger, Golden Ocean will be delisted from both the Oslo and Nasdaq stock exchanges. CMB.TECH, however, will continue trading publicly and will now be listed in Brussels, New York, and Oslo.
Fredriksen has a long history with Antwerp. He and CMB.TECH were both a major shareholder in Euronav, the oil shipping company. Back then, there were frequent conflicts between Antwerp management and Fredriksen’s group, nicknamed the “Vikings.”
Experts in the shipping sector observe that Fredriksen earns a lot on his investment. Analysts observe that the merger is a trend that has been on the increase in shipping, where uniting fleets and expertise enables firms to remain competitive in a tough industry.
CMB.TECH, originally founded as Euronav in 1991, has grown into one of Antwerp’s leading maritime companies. Over the years, it has focused on oil and bulk shipping, building a strong international presence while navigating shareholder disputes, including past clashes with Norwegian tycoon John Fredriksen.
Golden Ocean, established in Norway, specialises in dry bulk transport, moving commodities like iron ore, coal, grain, and steel. The merger comes as the global shipping industry faces an ageing fleet and rising demand for bulk transport.
