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China Merchants Energy Shipping confirms plan for 10 new VLCCs

Date 11-Dec-2015
Subject China Merchants Energy Shipping confirms plan for 10 new VLCCs


CHINA : 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. The 10 newbuilding crude oil tankers will be constructed at a local shipyard, CMES said.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.

Source: dailyshippingtimes.com

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