CMB Tech reported fourth-quarter earnings that were above market expectations on Thursday, as a robust tanker and dry bulk markets allowed the Belgian Shipping Group to secure charters and sell older ships at high prices.

EBITDA (earnings before 'interest, taxes and depreciation, amortisation)) was $322 million in the December quarter, exceeding LSEG's expectations of $295.67.

The tanker market has benefited from the longer voyages, and compliance restrictions linked to Western sanctions against Russian crude.

The 'company' said that it had used the strong market to sell a number of its?older vessels at astronomical prices and to fix multiple long-term?charter?contracts with attractive rates. (Reporting and editing by Subhranshu? Sahu.)

(source: Reuters)