CMES Eyes 10 VLCC Order

China Merchants Energy Shipping (CMES) is planing to order up to ten Very Large Crude Carriers (VLCC) from three domestic shipyards.

The company’s board approved the decision at its meeting held on December 3, CMES said in a stock exchange filing.

CMES added that it would disclose more details on the announcement once the contracts on construction of the energy saving tankers are signed. Potential value of the deal is expected to reach around USD 920 million.

CMES’ Hong Kong-based subsidiary, China VLCC Company Limited, which was set up in early September, will be in charge of vessel operation.

World Maritime News Staff


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