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CMB Tech Finalizes Merger with Golden Ocean, Forming Maritime Giant

By  |  August 21, 2025

CMB Tech has completed its stock-for-stock merger with Golden Ocean Group, consolidating the two companies into one of the largest publicly listed shipping entities in the world. According to Baird Maritime, the transaction was executed through CMB Tech Bermuda, a wholly-owned subsidiary of CMB Tech, which emerged as the surviving company in the deal.

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    The merger gained overwhelming shareholder support, with Golden Ocean investors representing 92.72 percent of shares present or represented at a special general meeting on August 19 voting in favor of the agreement. Per Baird Maritime, the following day, CMB Tech issued nearly 96 million new ordinary shares through a capital increase by contribution in kind. These were distributed to Golden Ocean shareholders at an exchange ratio of 0.95 CMB Tech shares for each Golden Ocean share, subject to rounding.

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    CMB Tech emphasized that the combination creates a major player in the global shipping sector. Baird Maritime reports that the merged group now commands a fleet of about 250 vessels with an estimated market value of $11.1 billion. More than 80 of those ships are hydrogen- and ammonia-ready, signaling a push toward cleaner propulsion technologies. The company also highlighted that its fleet has an average age of just over six years and a contract backlog valued at approximately $3 billion, offering significant revenue visibility going forward.

    Source: Baird Maritime