CMB.Tech Sells Suezmax Stella, Booking Another $59.6 Million Gain
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Antwerp-based CMB.Tech sold the suezmax tanker Stella, built in 2011 with a capacity of 165,000 deadweight tonnes, generating a gain of approximately $59.6 million to be booked in the fourth quarter of 2026. The vessel has already been delivered to its new owners.
Rising secondhand market
The deal comes amid a secondhand tanker market with elevated values, in which the company led by Alexander Saverys continues to shed older units. This marks the fifth suezmax sold by CMB.Tech so far in 2026, following the sales of Sienna, Brest, Brugge and Bristol.
Price unconfirmed but estimated at least $80 million
CMB.Tech did not disclose the buyer or the sale price, although market sources estimated the deal at least $80 million. Based on calculations drawn from the company's own accounting records, which showed a combined value of $32.9 million for Stella and Sienna at the end of 2025, and considering that Sienna was later sold for $41.9 million generating a gain of $29.2 million, Stella's net sale price would be around $80 million. Market reports also linked the vessel to a one-year charter with Trafigura at about $120,000 per day following the sale.
SEB's view
Analysts at SEB bank described the sale as another positive step in CMB.Tech's tanker divestment program. The bank carries Stella on its books at around $85 million and noted that, given the strength of the secondhand market and the premiums achieved in the company's previous sales, it would have been surprised had the vessel changed hands below that level. Price benchmarking platform VesselsValue, meanwhile, now lists the suezmax under the name Spitfire, in the hands of an unidentified Singaporean owner, with an estimated value of about $95 million.
Broader monetization program
The five suezmax sales completed in 2026 together generated close to $246 million in reported capital gains. CMB.Tech also divested nine VLCCs this year, including a package of six vessels that generated $261.1 million, the pair Ingrid and Ilma for a further $98.2 million, and the vessel Donoussa, built in 2016, which is expected to add an additional $74.3 million. Including Stella, the gains reported from the company's VLCC and suezmax sales in 2026 are approaching $680 million. Following this latest deal, CMB.Tech has five VLCCs and 14 suezmaxes remaining, while SEB anticipates further opportunistic sales as long as valuations remain elevated.
