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Assets and liabilities held for sale and discontinued operations
 12 Months Ended
Dec. 31, 2024
Non-Current Assets Held For Sale And Discontinued Operations [Abstract]  
Assets and liabilities held for sale and discontinued operations Assets and liabilities held for sale and discontinued operations
Assets held for sale
The assets held for sale can be detailed as follows:
(in thousands of USD)December 31, 2024December 31, 2023December 31, 2022
Marine
165,583 871,876 18,459 
H2 Infra
— — — 
H2 Industry
— — — 
Total assets held for sale165,583 871,876 18,459 

(in thousands of USD)(Estimated) Net sale priceBook ValueAsset Held For SaleImpairment Loss(Expected) Gain
At January 1, 202340,523 18,459 18,459 — 22,064 
Assets transferred to assets held for sale
Alice86,153 61,626 61,626 — 24,528 
Anne86,617 62,820 62,820 — 23,797 
Aquitaine90,453 58,657 58,657 — 31,796 
Dominica82,840 52,826 52,826 — 30,014 
Desirade86,153 56,071 56,071 — 30,082 
Alboran86,503 56,367 56,367 — 30,136 
Aral86,797 56,445 56,445 — 30,352 
Andaman87,130 56,636 56,636 — 30,494 
Hatteras90,337 59,368 59,368 — 30,969 
Delos113,020 83,611 83,611 — 29,409 
Doris113,330 84,438 84,438 — 28,892 
Derius104,670 81,458 81,458 — 23,212 
Camus123,797 92,228 92,228 — 31,569 
Oceania43,120 8,294 8,294 — 34,826 
Corporate2,000 1,031 1,031 — 969
Assets sold from assets held for sale
Cap Charles(40,523)(18,459)(18,459)— (22,064)
At December 31, 20231,282,920 871,876 871,876 — 411,044 
At January 1, 20241,282,920 871,876 871,876 — 411,044 
Assets transferred to assets held for sale
Cap Lara33,213 14,437 14,437 — 18,776 
Alsace96,850 69,388 69,388 — 27,462 
Ingrid— 44,811 44,811 — — 
Hakata— 36,899 36,899 — — 
Windcat 6275 48 48 — 227 
Assets sold from assets held for sale
Alice(86,153)(61,626)(61,626)— (24,528)
Anne(86,617)(62,820)(62,820)— (23,797)
Aquitaine(90,453)(58,657)(58,657)— (31,796)
Dominica(82,840)(52,826)(52,826)— (30,014)
Desirade(86,153)(56,071)(56,071)— (30,082)
Alboran(86,503)(56,367)(56,367)— (30,136)
Aral(86,797)(56,445)(56,445)— (30,352)
Andaman(87,130)(56,636)(56,636)— (30,494)
Hatteras(90,337)(59,368)(59,368)— (30,969)
Delos(113,020)(83,611)(83,611)— (29,409)
Doris(113,330)(84,438)(84,438)— (28,892)
Derius(104,670)(81,458)(81,458)— (23,212)
Camus(123,797)(92,228)(92,228)— (31,569)
Oceania(43,120)(8,294)(8,294)— (34,826)
Corporate(2,000)(1,031)(1,031)— (969)
At December 31, 2024130,337 165,583 165,583 — 46,464 
On December 14, 2022, the Company sold the Suezmax Cap Charles (2006 - 158,881 dwt), for a net sale price of $40.5 million. This vessel was accounted for as a non-current asset held for sale as at December 31, 2022, and had a carrying value of $18.5 million as of that date. The vessel was delivered to its new owner on February 16, 2023. Taking into account the sales commission, the net gain on this vessel amounts to $22.1 million and was recorded in the consolidated statement of profit or loss in the first quarter of 2023.
On October 9, 2023, the Company announced the agreement of two reference shareholders CMB NV ("CMB") and Frontline plc/Famatown Finance Ltd ("Frontline") on a transaction involving multiple interdependent agreements. Part of the agreement included the sale of 24 VLCC tankers from the Euronav fleet for a total of $2.35 billion. A total of 11 VLCC tankers have been delivered before December 31, 2023 (see Note 8). As at December 31, 2023, 13 VLCC tankers, that were part of the fleet sale to Frontline, have been booked as an asset held for sale (Alice, Anne, Aquitaine, Dominica, Desirade, Alboran, Aral, Andaman, Hatteras, Delos, Doris, Derius and Camus) for a total carrying value of $862.6 million. The last vessel (Camus) has been delivered to her new owners on March 19, 2024. The net gain on this transaction for the vessels delivered in 2024 amounts to $372.7 million, which was recorded in the first quarter of 2024.
On November 8, 2023, the Company sold the ULCC Oceania (2003 - 441,561 dwt), for $43.1 million. The vessel was accounted for as a non-current asset held for sale as at December 31, 2023, and had a carrying value of $8.3 million. The vessel was delivered to her new owner on January 15, 2024. Taking into account the sales commission, the net gain on this vessel amounts to $34.8 million and was recorded in the consolidated statement of profit or loss in the first quarter of 2024.
CMB.TECH announced a new chapter in the evolution of the FAST platform. In a strategic move to enhance capabilities and ensure continued growth, CMB.TECH transferred the FAST platform to ZeroNorth. The sale price (included in the heading "Corporate") amounts to $2.0 million. The net gain amounts to $0.4 million. Closing of the deal and official transfer date was on April 1, 2024.

On May 21, 2024, the Company sold the VLCC Alsace (2012 - 320,350 dwt) for $96.9 million. The vessel is accounted for as a non-current asset held for sale as at December 31, 2024, and has a carrying value of $69.4 million. The net gain on the vessel amounts to $27.5 million and was recognized upon delivery to her new owners on January 27, 2025.

On June 27, 2024, the Management Board formally decided to commit to a plan to sell VLCC vessels Hakata (2010 - 302,550 dwt) and Ingrid (2012 - 314,000 dwt). An active program to locate a buyer and complete the plan has been initiated and the vessels are actively marketed for sale in line with their fair values. It is expected to be completed within a year from the decision and in line with IFRS 5, the assets are qualified and classified as non-current assets held for sale for a total combined book value of $81.7 million as per December 31, 2024.

The Windcat 6 has been sold, after 18 years of service on December 18, 2024 for an amount of $275 thousand. The CTV is accounted for as a non-current asset held for sale as at December 31, 2024, and has a carrying value of $48 thousand. The sale generates a gain $227 thousand and was recognized upon delivery to the new owner on March 13, 2025.

On December 31, 2024, CMB.TECH has sold the Suezmax Cap Lara (2007, 158,826 dwt) for $33.2 million. The vessel is accounted for as a non-current asset held for sale as at December 31, 2024, and has a carrying value of $14.4 million.
The sale generated a gain of $18.8 million and was recognized upon delivery to the new owner on March 10, 2025.

Discontinued operations
As of December 31, 2024 and December 31, 2023, the Group had no operations that meet the criteria of a discontinued operation.