EXMAR Shipping delivered a resilient first-half performance despite geopolitical uncertainty, evolving regulations and changing trade flows.
The segment reported stable revenue year-on-year in challenging market conditions supported by the fleet’s high contract coverage. The net result for the segment was higher compared to the first half of last year, primarily due to a one-off financial gain of USD 25 million related to the buy-back of VLGC FLANDERS INNOVATION and VLGC FLANDERS PIONEER, benefiting from the favorable JPY-USD exchange rate.
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.
EXMAR-Half-Year-Report-2026