World News
CMB.TECH and Golden Ocean Merger Moves Forward
CMB.TECH and Golden Ocean Group have signed a definitive agreement to proceed with their previously announced stock-for-stock merger, marking a major step toward the creation of one of the world's largest diversified maritime companies.
Under the terms of the agreement, Golden Ocean will merge into CMB.TECH Bermuda, a wholly owned subsidiary of CMB.TECH, the firms said in a statement on Wednesday.
Each Golden Ocean common share will be exchanged for 0.95 newly issued CMB.TECH ordinary shares, resulting in the issuance of approximately 95.9 million new shares, assuming no adjustments.
The combined group will operate a fleet of around 250 vessels.
Post-merger, CMB.TECH shareholders will own about 70% of the combined entity, with Golden Ocean shareholders holding the remaining 30%.
The boards of both companies have unanimously approved the merger agreement.
The deal is still subject to customary conditions, including regulatory approvals, shareholder consent, and SEC registration.
Following completion, Golden Ocean will delist from Nasdaq and Euronext Oslo. CMB.TECH will maintain its listings on the NYSE and Euronext Brussels and plans to pursue a secondary listing on Euronext Oslo.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 506.50 | 3.50 | 605.00 | 4.50 |
| Rotterdam | 471.50 | 1.00 | 616.00 | 3.50 |
| Houston | 475.00 | 3.00 | 600.00 | 19.00 |
| Fujairah | 503.00 | 1.00 | 712.00 | 3.00 |
| Global 20 Ports Average | 532.00 | 0.00 | 706.00 | 0.00 |
| Global 4 Ports Average | 489.00 | 0.50 | 633.50 | 2.00 |
| Global Average Bunker Price | 570.00 | 1.50 | 755.50 | 2.00 |
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