# CMBTech (CMBT) Q3 2025 results **URL:** \ **Category:** Shipping News\ **Created:** [November 30, 2025, 4:45am UTC](https://discussion.fool.com/t/cmbtech-cmbt-q3-2025-results/122352 "2025-11-30T04:45:20Z")\ **Posts on this page:** 4\ **Page:** 1
**Author:** ![HohumYNWA](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/hohumynwa/32/1511_2.png) [@HohumYNWA](https://discussion.fool.com/u/HohumYNWA)\ **Post date:** [November 30, 2025, 4:45am UTC](https://discussion.fool.com/t/cmbtech-cmbt-q3-2025-results/122352/1 "2025-11-30T04:45:20Z")
CMBTech announced Q3 2025 results on 11/26. This is a multi-faceted entity now, but I think the company results still focus on the various shipping segments. - Rev of $462.3M - Profit of $17.3M - Took delivery of 7 newbuilds, including 2 Newcastlemaxes and a VLCC - Sold two non-modern vessels - a 2007-built VLCC and a 2009-built Cape (Battersea was part of the Golden Ocean acquisition) - Announced a 5c/sh div, to be paid in early 2026. > **[CMBT\_Q3\_Earnings\_release\_2025-11-26-053850\_gysh.pdf](https://cmb.tech/public/CMBT_Q3_Earnings_release_2025-11-26-053850_gysh.pdf)** Company also having a major board shake-up with Marc Saverys (chair) and another member stepping down. There is a breakdown of vessel TCE by category and vessel size. The rates that stand out are rates for Newcastlemaxes, and Suezmax. I think FRO also indicated Suezmax performing better than VLCC in Q3 2025. However, with CMBT, the Suezmax avg rate ($48K daily) is much, much better than the VLCC avg ($30.5K daily). The Q4-to-date on the VLCC improves for CMBT. But, the rate seems to be lagging what peers like ECO & FRO report for Q4-to-date. This could be due to CMBT’s VLCC age mix (many of the newer VLCCs went to FRO in the reworked M&A deal) Small CMBT stake via prior Golden Ocean share ownership. My CMBT shares are in a Roth ac. Not a problem right now, as the dividend payout is low. But it would be a problem if the payout increased significantly - Belgium has a relatively high withholding rate which becomes a problem with no offset in Roth ac. ---
**Author:** ![JimA759s](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/jima759s/32/2844_2.png) [@JimA759s](https://discussion.fool.com/u/JimA759s)\ **Post date:** [November 30, 2025, 4:13pm UTC](https://discussion.fool.com/t/cmbtech-cmbt-q3-2025-results/122352/2 "2025-11-30T16:13:36Z")
I held on for one dividend payment. They w/h 30% and I sold out of my position. It was also in my Roth. Maybe if I visit Belgium they will give me a free coffee! JimA ---
**Author:** ![HohumYNWA](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/hohumynwa/32/1511_2.png) [@HohumYNWA](https://discussion.fool.com/u/HohumYNWA)\ **Post date:** [November 30, 2025, 5:32pm UTC](https://discussion.fool.com/t/cmbtech-cmbt-q3-2025-results/122352/3 "2025-11-30T17:32:05Z")
> [@JimA759s](#): > > I held on for one dividend payment. They w/h 30% and I sold out of my position. It was also in my Roth. My CMBT stake is much smaller, so I don’t have the same immediate concern. But, I was making the tax point both as a reminder (to myself), and a warning to other investors. ---
**Author:** ![HohumYNWA](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/hohumynwa/32/1511_2.png) [@HohumYNWA](https://discussion.fool.com/u/HohumYNWA)\ **Post date:** [November 30, 2025, 5:51pm UTC](https://discussion.fool.com/t/cmbtech-cmbt-q3-2025-results/122352/4 "2025-11-30T17:51:20Z")
Per the slide deck > **[CMBT\_Q3-2025-earnings-release\_website.pdf](https://cmb.tech/public/CMBT_Q3-2025-earnings-release_website.pdf)** CMBtech’s current fleet of 205 vessels is weighted toward the dry bulk sector. The larger vessel category (Capes, which includes Newcastlemaxes) had a good Q3 2025, and also showing well in Q4 2025. For dry bulk, Q3 is typically the strongest quarter in the annual cycle.