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China Merchants Energy Shipping confirms plan for 10 new VLCCs

The board members of China Merchants Energy Shipping (CMES) has approved of a plan to order an additional 10 eco-friendly VLCCs, which will be operated by its joint venture China VLCC.

Lee Hong Liang, Asia Correspondent

December 7, 2015

1 Min Read

Kalyakan - stock.adobe.com

The 10 newbuilding crude oil tankers will be constructed at a local shipyard, CMES said in a regulatory filing to the Shanghai Stock Exchange.

The joint venture China VLCC is 51% owned by CMES and 49% controlled by Sinotrans & CSC Group, which is currently in the midst of a merger with China Merchants Group, parent of CMES.

As at 4 December 2015, CMES owned a fleet of 34 VLCCs and sat on an orderbook of 19 new VLCCs, including the latest 10 units.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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