ANTWERP, Belgium, 16 December 2025 – CMB.TECH NV (NYSE: CMBT, EuronextBrussels:CMBT and Euronext Oslo Børs: CMBTO) (“CMBT”, “CMB.TECH” or “the Company”) ispleased to announce the company is investing in the Chinese ammonia supplychain. CMB.TECH has signed an off-take agreement for green ammonia produced byCEEC Hydrogen Energy (“CEEC”) in Jilin Province and will own a minority shareinprivately owned Jiangsu Andefu Energy Technology Co., Ltd. (“Andefu”) one ofChina’s largest ammonia supply chain companies.
Green ammonia produced in Jilin Province
CMB.TECH will purchase green ammonia produced in Jilin Province by the CEECSongyuan project under an off-take agreement[1]. In the first phase of theCEECSongyuan project, approximately 158,000 tonnes of renewable ammonia will beproduced annually. Construction of the project was completed at the end ofSeptember 2025 and commercial operation is planned for January 2026.
The project is mainly powered by off-grid renewable energy and supported bybatteries and hydrogen buffer storage. CEEC appointed Bureau Veritas for thecertification audit, and the project obtained ISCC EU RFNBO certification on 2December 2025.
Andefu, one of China’s largest ammonia supply chain companies
CMB.TECH will also acquire a minority stake in Andefu, one of China’s largestammonia supply chain companies. This will create an industrial partnershipbetween two companies supporting maritime decarbonisation and the developmentofa green ammonia supply infrastructure.
A subsidiary of Andefu, Jiangsu Andefu Storage Co., Ltd., is currentlyconstructing a 49,000 m³ low-temperature ammonia storage tank in Nanjing,providing critical hub capacity for ammonia distribution and future marinefuelapplications. The storage tank is scheduled to be commissioned in Q1 2026.
In addition, Andefu, in cooperation with CEEC, will build an ammonia storageterminal into operation in Panjin in the second half of 2027, significantlyenhancing China’s large-scale green ammonia logistics and supply capabilities.
Andefu is also advancing ship-to-ship (STS) ammonia bunkering operations,targeting commercial deployment in 2026, to support the emerging globalammonia-fuelled shipping fleet together with CMB.TECH.
CMB.TECH’s ammonia-powered fleet
CMB.TECH will take delivery of 11 ammonia-powered ships next year. TenNewcastlemax bulkers (210,000 dwt) being built at Qingdao Beihai Shipyard andone 1,400 TEU container vessel being built at China Merchants Industry Weihaiwill deliver during 2026. The ships will be powered by a dual-fueldiesel-ammonia main engine and carry ammonia as a fuel onboard. This willenablethe vessels to sail in dual fuel ammonia configuration for both propulsion andother power requirements between ports.
Green ammonia as a shipping fuel
CMB.TECH believes green ammonia is a very promising solution to decarboniseshipping. When used in combustion engines, it emits no CO2. Green ammonia isalso expected to become cost-competitive compared to diesel thanks to thefalling cost of renewable energy, and the renewable energy storage and supplysystems (solar panels, windmills, batteries, electrolysers).
CMB.TECH will continue to engage with producers of green ammonia worldwide tosource sufficient fuel for its green ships. Simultaneously, CMB.TECH’sambitionis to produce green ammonia in Namibia.
Alexander Saverys, CEO of CMB.TECH: “Today marks a big milestone in ourdecarbonisation journey. With an investment in the Chinese ammonia supplychain,CMB.TECH will be able to provide green ammonia to its ships. It’s anotherimportant step towards the launch of our first ammonia-powered ships andzero-emission maritime transportation. 2026 will be a very important year forour company and our industry, as we hope to prove to the world that we candecarbonise today to navigate tomorrow!”
Announcement Q4 2025 results – 26 February 2025
[1] This agreement is subject to customary conditions.
About Andefu
Andefu, one of China’s largest ammonia supply chain companies, is a fullyintegrated platform led by its group company, Jiangsu Andefu Energy TechnologyCo., Ltd., with operations spanning ammonia production coordination, storageandterminal operations, international and domestic trading, inland waterwayshipping, rail transportation, and road logistics – forming a comprehensive”six-in-one” ammonia supply chain across China.
About CEEC
China Energy Engineering Group Hydrogen Energy Co., Ltd. is a wholly ownedsubsidiary of China Energy Engineering Corporation Limited (CEEC), establishedin Beijing in January 2022 with a registered capital of RMB 5 billion. It isthelargest and the only central state-owned enterprise platform dedicated to thefull hydrogen energy value chain.The Company serves as CEEC’s integrated platform for hydrogen energyinvestment,development, construction, and operation, covering hydrogen production,storage,transportation, application, and research. Its core businesses includerenewableenergy-based hydrogen production, hydrogen technology R&D, hydrogen storageandlogistics, comprehensive hydrogen utilization, and the development oflarge-scale green hydrogen projects.
About CMB.TECH
CMB.TECH is one of the largest listed, diversified and future-proof maritimegroups in the world with a fleet of about 250 vessels: dry bulk vessels, crudeoil tankers, chemical tankers, container vessels, offshore wind vessels andportvessels. CMB.TECH also offers hydrogen and ammonia fuel to customers, throughown production or third-party producers.
CMB.TECH is headquartered in Antwerp, Belgium, and has offices across Europe,Asia, United States and Africa.
CMB.TECH is listed on Euronext Brussels and the NYSE under the ticker symbol”CMBT” and on Euronext Oslo Børs under the ticker symbol “CMBTO”.
More information can be found at https://cmb.tech
Forward-Looking Statements
Matters discussed in this press release may constitute forward-lookingstatements. The Private Securities Litigation Reform Act of 1995 provides safeharbour protections for forward-looking statements in order to encouragecompanies to provide prospective information about their business.Forward-looking statements include statements concerning plans, objectives,goals, strategies, future events or performance, and underlying assumptionsandother statements, which are other than statements of historical facts. TheCompany desires to take advantage of the safe harbour provisions of thePrivateSecurities Litigation Reform Act of 1995 and is including this cautionarystatement in connection with this safe harbour legislation. The words”believe”,”anticipate”, “intends”, “estimate”, “forecast”, “project”, “plan”,”potential”,”may”, “should”, “expect”, “pending” and similar expressions identifyforward-looking statements.
The forward-looking statements in this press release are based upon variousassumptions, many of which are based, in turn, upon further assumptions,including without limitation, our management’s examination of historicaloperating trends, data contained in our records and other data available fromthird parties. Although we believe that these assumptions were reasonable whenmade, because these assumptions are inherently subject to significantuncertainties and contingencies which are difficult or impossible to predictandare beyond our control, we cannot assure you that we will achieve oraccomplishthese expectations, beliefs or projections.
In addition to these important factors, other important factors that, in ourview, could cause actual results to differ materially from those discussed inthe forward-looking statements include the failure of counterparties to fullyperform their contracts with us, the strength of world economies andcurrencies,general market conditions, including fluctuations in charter rates and vesselvalues, changes in demand for tanker vessel capacity, changes in our operatingexpenses, including bunker prices, dry-docking and insurance costs, the marketfor our vessels, availability of financing and refinancing, chartercounterpartyperformance, ability to obtain financing and comply with covenants in suchfinancing arrangements, changes in governmental rules and regulations oractionstaken by regulatory authorities, potential liability from pending or futurelitigation, general domestic and international political conditions, potentialdisruption of shipping routes due to accidents or political events, vesselsbreakdowns and instances of off-hires and other factors. Please see ourfilingswith the United States Securities and Exchange Commission for a more completediscussion of these and other risks and uncertainties.
Contact
CMB.TECHKatrien HenninHead of Marketing and Communications CMB.TECH+32 499 39 34 70katrien.hennin@cmb.tech
Joris DamanHead of Investor RelationsTel: +32 498 61 71 11joris.daman@cmb.tech
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