CMES Exercises Option for Four Ultramaxes

China Merchants Energy Shipping (CMES), a subsidiary of China Merchants Group, has exercised options to construct additional four ultramaxes at Chengxi Shipyard, the company announced in a Shanghai Stock Exchange filing.

Financial details of the contract were not disclosed.

The ordered vessels are fuel-efficient bulkers with the capacity of 64,000 dwt. The vessels’ delivery is scheduled for the second half of 2017.

In September last year CMES inked a contract for the construction of two vessels of the same type, which was very popular last year. This contract included eighth options. All of these options have been exercised at this time.

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World Maritime News Staff, February 5, 2014; Image: Chengxi Shipyard