CMB.Tech's profit triples as Hormuz disruption soars tanker prices

Belgian tanker company CMB.Tech said its core profit more than tripled in Q1 as the closure of Hormuz drove up spot freight rates. Its EBITDA soared to $558.3 million, from $158.4 million a year ago. "CMB.Tech is benefiting...both directly through higher shipping rates and indirectly through the sale of vessels at very high prices," a note to investors said.