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China Merchants Energy Shipping to order four VLCCs

CMES New Treasure (003)
China Merchants Energy Shipping (CMES) has announced that the company is to order four very large crude carriers (VLCC) to further expand its tanker fleet.

The company plans to order four VLCCs at a price of up to $85m for each vessel although shipyard details were not disclosed.

The company established China VLCC Company Limited in 2014, which is a subsidiary of the company to focus on VLCC business.

Last week, CMES took delivery of a new VLCC, New Treasure, from Dalian Shipbuilding Industry Corporation, enlarging its VLCC fleet to 53 vessels.

CMES, was jointly established by China Merchants Group, Sinopec Group, Sinochem Group, Cosco Shipping Group and CNOOC Group.

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