Sponsored By

China Merchants Energy Shipping places order for four new VLCCs

China Merchants Energy Shipping (CMES) has placed an order for four newbuilding VLCCs, with two each at Nantong Cosco KHI Ship Engineering (Nacks) and Dalian Cosco KHI Ship Engineering (Dacks).

Lee Hong Liang, Asia Correspondent

December 16, 2015

1 Min Read
Kalyakan - stock.adobe.com

The four orders are part of a 10-VLCC newbuild plan which was announced early last week. The eco-friendly VLCCs will be operated by China VLCC, a joint venture of CMES and Sinotrans & CSC Group.

CMES announced to the Shanghai Stock Exchange that it is paying $88m for each of the four 308,000 dwt VLCC, with deliveries scheduled from December 2018.

“The company expects that the new VLCCs ordered today would consume 20% less fuel compared to the VLCCs built in 2009-2011,” CMES stated.

As at 4 December 2015, CMES owned a fleet of 34 VLCCs and sat on an orderbook of 19 new VLCCs, including the four new orders and a further six 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.

 

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like