Compagnie Maritime Belge

The Compagnie Maritime Belge (CMB) is one of the oldest Antwerp ship-owners. It is controlled by the Saverys family who also own major stakes in the Exmar and Euronav groups.

History

CMB was founded in 1895 under the name Compagnie Belge Maritime du Congo (CBMC). At the request of Leopold II of Belgium and with support from British investors, a maritime connection was opened with Congo Free State. On 6 February 1895 the CMBC ship Léopoldville was the first to leave port of Antwerp for Congo Free State. For sixty years the Congo boats (Kongoboten) were a constant presence in the port of Antwerp.

In 1930 CBMC acquired Lloyd Royal Belge, another Belgian shipowner. The name of the new company became Compagnie Maritime Belge (CMB), and new lines were opened towards America and the Far East.

During World War, on 24 December 1944, CMB's 1928 Leopoldville while transporting the 66th Infantry Division, Leopoldville was torpedoed and sank in under 3 hours, losing 763 American soldiers and 56 crew.

After World War II, the company introduced new ships, including the cargo passenger liners Jadotville (1956) and Baudouinville (1957). However, in 1961 it sold both these liners to P&O, who renamed them Chitral and Cathay and placed them in service in the Far East.

In 1960 the company Armement Deppe was acquired, and between 1975 and 1982 gradually also the tramp ship company Bocimar. The company entered the dry bulk trade in 1962 and continues to be a major dry bulk operator under its Bocimar banner. In 1975, the CMB group took a minority share in the dry bulk tramping company, Bocimar, which was increased to a majority share in 1982. In 1988, CMB bought Hessenatie, a large general cargo and container handling company in Antwerp.[1] In July 1991 the Société Générale de Belgique, until then the main shareholder of the CMB, sold its shares to the holding Almabo and its shipping society Exmar, led by Marc Saverys. In 1995, half of CMB Transport (CMBT) was sold to Safmarine, a South African shipping company. In 1999, with the sale of the African network of AMI, CMB group's participation in the liner sector ceased and they focussed on the bulk carrier sector. In the same year, CMB gained full control of Euronav, an operator of crude oil tankers.

On June 28, 2019, Ocean Yield ASA announced the acquisition of newcastlemax dry bulk vessel from CMB for 40 million (USD) net of a seller's credit, with 15-year bareboat charter to CMB.[2][3][4]

In 2020, it was announced that the HydroTug, the first hydrogen-powered tugboat will be deployed in the port of Antwerp.[5]

Companies and holdings

Shareholding

Shares of the CMB group are listed on NYSE Code CMB.BR, Euronext[19] Brussels and are included in the Next 150 index. Its major shareholders are Saverco/Marc Saverys (49,43%), Victrix/Virginie Saverys (15,99%) with the balance owned by CMB and third parties[20]

Similar to other ship owners, CMB's earnings declined in the worldwide economic recession starting from 2007. However, they started to bounce back towards the end of 2012,[21] and started recording profits from 2013.[22]

See also

• SS Burgondier
• BeHydro

Other sources

• G. Devos, G. Elewaut, CMB 100. Een Eeuw Compagnie Maritime Belge, Tielt, Lannoo, 1995