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    Kristof Samoy • KBC Securities

    Kristof Samoy's questions to CMB.TECH NV (CMBT) leadership

    Kristof Samoy's questions to CMB.TECH NV (CMBT) leadership • Q2 2024

    Question

    Kristof Samoy of KBC Securities inquired about the development timeline for the Namibian ammonia bunker facility, the charter status of the Newcastlemaxes with Fortescue, and the implications of Fortescue's recent green ammonia partnership with COSCO.

    Answer

    CEO Alexander Saverys detailed three Namibian projects: a local hydrogen station operational by year-end, an ammonia tank terminal with a Final Investment Decision (FID) expected in Q4 2024 or Q1 2025 for a 2028 delivery, and a longer-term ammonia factory project. He confirmed a couple of vessels are on short-term (max 1 year) consecutive voyage charters (CVCs) with Fortescue, but not the entire fleet. Regarding the Fortescue/COSCO deal, Saverys viewed it positively, stating that more industry investment in the ammonia supply chain benefits everyone and does not preclude future collaborations with CMB.TECH.

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    Kristof Samoy's questions to CMB.TECH NV (CMBT) leadership • Q2 2024

    Question

    Kristof Samoy of KBC Securities inquired about the project timeline for the Namibian ammonia bunker facility, the charter status of the Newcastlemax vessels with Fortescue, and the implications of Fortescue's new partnership with COSCO on green ammonia vessels.

    Answer

    CEO Alexander Saverys detailed three Namibian projects, noting the ammonia tank terminal's Final Investment Decision (FID) is expected in Q4 2024 or Q1 2025 for a 2028 delivery. He confirmed a few Newcastlemaxes are on short-term (max one year) CVCs with Fortescue, not the entire fleet. Regarding the Fortescue-COSCO deal, Saverys viewed it as a positive industry development that validates the ammonia fuel strategy and does not preclude future collaboration, given the market's large scale.

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