CMB.TECH announced it has completed the stock-for-stock merger with Golden Ocean Group, forming one of the world’s largest diversified listed maritime companies.

The combined company will operate a fleet of about 250 vessels across segments, including dry bulk, tankers, chemical tankers, container ships, offshore wind vessels and port vessels, CMB.Tech said in a press release on Wednesday.

It says more than 80 ships are hydrogen-and ammonia-ready, giving the group flexibility in future low-carbon fuels.

The fleet is valued at around $11.1 billion, with an average age of 6.1 years.

“Today, we are delighted to close the merger between CMB.TECH and Golden Ocean,” Alexander Saverys, CEO of CMB.TECH, said.

“In less than 18 months, we have transformed a pure play crude oil tanker company into a large and leading diversified and future-proof maritime group.”

CMB.TECH also reports liquidity of over $400 million, supporting financial flexibility and future growth.