Day: August 20, 2025
Home Depot Is Raising Prices
Antwerp – CMB.TECH, the Antwerp-based shipping firm formerly known as Euronav, has merged with Norway’s Golden Ocean after acquiring a 40% stake from billionaire John Fredriksen for $1.2 billion, positioning itself among the largest maritime companies globally, reports 24brussels.
In a significant move for the maritime industry, CMB.TECH has integrated its operations with Golden Ocean, a company renowned for transporting substantial quantities of iron ore, coal, grain, and steel. The acquisition from Fredriksen marks an essential milestone in the company’s expansion, strengthening its competitive edge in both oil and bulk transport sectors.
Industry analysts indicate that the merger is timely, as demand in the bulk sector is projected to rise in the upcoming years. Many existing bulk carriers are aging, making it a strategic moment for CMB.TECH to invest in modern vessels and greener technologies, including hydrogen and ammonia fuels, as part of their future plans.
Impact of the Merger on Antwerp’s Shipping Sector
CMB.TECH has reported significant revenue growth in its second-quarter 2025 results, reflecting its robust involvement in the shipping market, primarily focused on fossil fuel transportation. Nonetheless, the company’s commitment to investing in sustainable energy highlights a shift towards more environmentally responsible practices.
The merger will lead to Golden Ocean being delisted from the Oslo and Nasdaq stock exchanges, while CMB.TECH will continue to trade publicly and expand its listings to Brussels, New York, and Oslo.
Fredriksen’s connection to Antwerp dates back to his substantial shareholding in Euronav, where frequent tensions arose between the company’s management and his interests, often dubbed the “Vikings.” The current merger reflects a broader trend in the shipping industry, where consolidating fleets and expertise is increasingly essential to maintaining competitiveness in a challenging market.
Founded in 1991, CMB.TECH has evolved into a leading player in Antwerp’s shipping landscape, navigating complex shareholder dynamics, including past disputes with Fredriksen. In parallel, Golden Ocean has built a strong reputation in Norway, specializing in the movement of dry bulk commodities, thereby presenting a formidable alliance amidst an evolving global shipping framework.
Call-up notices sent as Israeli plans to increase its offensive; Israel studies Hamas’ response to proposal for 60-day ceasefire
Israel gave final approval on Wednesday for a controversial settlement project in the occupied West Bank that would effectively cut the territory in two, and that Palestinians and rights groups say could destroy hopes for a future Palestinian state.
Settlement development in E1, an open tract of land east of Jerusalem, has been under consideration for more than two decades, but was frozen due to U.S. pressure during previous administrations. The international community overwhelmingly considers Israeli settlement construction in the West Bank to be illegal and an obstacle to peace.
Prime minister Anthony Albanese said on Wednesday that he treats leaders of other countries with respect after his Israeli counterpart Benjamin Netanyahu attacked him over his decision to recognise a Palestinian state. “I don’t take these things personally, I engage with people diplomatically. He has had similar things to say about other leaders,” Albanese said during a media briefing.
A 58% majority of Americans believe that every country in the United Nations should recognise Palestine as a nation, according to a new Reuters/Ipsos poll, as Israel and Hamas considered a possible truce in the nearly two-year-long war. 33% of respondents did not agree that UN members should recognise a Palestinian state and 9% did not answer.
German prosecutors have charged a Russian national they suspect of planning an attack on the Israeli embassy in Berlin and of trying to join militant organisation Islamic State, they said on Wednesday. Prosecutors believe the accused, identified only as Akhmad E. in line with German privacy rules, obtained instructions from the Internet on how to make explosives but the plan failed as he could not get the components he needed.
