|
Antwerp, Belgium - 26 August 2026 During its meeting of August 25, 2026, the Board of Directors of EXMAR ("EXMAR" or "the Company") reviewed and approved the interim accounts for the period ending June 30, 2026. The interim condensed consolidated financial statements have not been subjected to an audit or a review by the statutory auditor. Highlights • Delivery of four MGC vessels, including the historic delivery of the world's first oceangoing vessel powered by a dual-fuel ammonia engine, named ANTWERPEN. • Buy back of VLGC FLANDERS INNOVATION & VLGC FLANDERS PIONEER from its lessor, executing a purchase option that, thanks to the Yen-USD exchange rate, generated a financial profit of USD 25 million. • Sale of one Pressurized vessel (FATIME). • EXMAR's customer EemsEnergyTerminal made commercial Final Investment Decision for the extension of Eemshaven LNG and a second FSRU awarded to EXMAR, EXMAR goes ahead with the conversion of a 162,000 m3/ 750 mmscfd FSRU. • Acquisition of three LNG carriers to support new projects in the Infrastructure business. • EOC continued to deliver strong project engineering results throughout the first half of 2026. Subsequent Events • (July 1, 2026) EXMAR refinanced the credit line for its existing MGC fleet for an amount of USD 150 million with a maturity of 5.5 years. • (July 6, 2026) EXMAR received USD 30.2 million cash from the sale of shares in Vantage Drilling International Ltd. • (July 9/16, 2026) Sale and delivery of two Pressurized vessels (JOAN, ELISABETH). • (July 11, 2026) EXMAR got awarded a 7-year charter contract with a first-class counterparty for the provision of a Floating Transshipment Unit (FTU). • (July 16, 2026) EXMAR signed an agreement to sell 3 MGC vessels (KORTIJK, KRUIBEKE and WEPION) with delivery during the second half of 2026 and beginning of 2027. Transaction is expected to generate a profit of USD 27 million. • (July 16, 2026) EXMAR closed a loan for an amount of USD 120 million for the buy-back of two VLGCs with a maturity of 5 years. • (July 30, 2026) EXMAR took delivery of the newbuild dual-fuel ammonia MGC ARLON. • (August 4, 2026) EXMAR took delivery of the LNG carrier SIMAISMA. Market overview and outlook Global shipping markets remained strong during the first half of 2026, as the conflict in the Middle East caused both oil and gas prices and ton-miles to increase. LPG demand remained supportive, and freight markets strengthened toward the end of the period. EXMAR continued to prioritize fleet coverage, and execution of its newbuilding program. While ammonia markets faced short-term challenges due to supply disruptions and project delays, long-term prospects remain positive, driven by the development of new blue and green ammonia projects. Gas carrier orderbook-to-fleet ratios remained above 30%, driven by expected growth in new LPG export volumes. VLGC rates reached historically high levels and are expected to remain firm throughout 2026, supported by strong utilization, driven by increased US exports, market inefficiencies and Panama Canal congestion. The MGC segment also benefited from higher charter rates and activity levels, allowing EXMAR to maintain strong fleet coverage through new and long-term customer relationships. In the pressurized segment, charter rates were stable supported by limited vessel availability. Tanker markets experienced exceptionally strong earnings due to the Middle East conflict and increased focus on security of supply. Fleet renewal EXMAR currently has ten MGC vessels under construction, of which four are fully owned and six are chartered through a partnership with a Japanese entity. During the first half of 2026, three 41,000 m3 dual-fuel LPG vessels (MERIBEL, MENUIRES and MORIOND) were delivered and operate successfully for top-tier clients. EXMAR also announced the historic delivery of ANTWERPEN, the world's first oceangoing vessel powered by a dual-fuel ammonia engine. This milestone marks a decisive step forward in trading with close to zero emissions, positioning EXMAR and partners at the forefront of sustainable maritime innovation. In the coming six months, three additional dual-fuel ammonia vessels will be delivered, and one more dual-fuel LPG vessel will be added to the fleet. The divestment of older pressurized vessels operating east of Suez continued with the sale of FATIME (5,000 m3) and the later sale of ELISABETH (3,500 m3) and JOAN (3,500 m3), in July 2026. These older pressurized vessels will be replaced by two new 7,500 cbm vessels that are scheduled to be delivered on long-term charter in 2027 and 2028. Full report About EXMAR EXMAR Group specializes in floating maritime solutions for the transport, transformation, and storage of gas and liquid hydrocarbons. The company operates a modern fleet ranging from VLGCs to pressurized vessels and owns and operates advanced floating LNG production, storage, and regasification units. EXMAR NV press release 
|
