Search results for: China Merchants Energy Shipping (CMES)

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  • 21 January 2020

    China Merchants Energy Shipping (CMES) has decided to carry out a 6.57 billion Chinese yuan ($952 million) asset acquisition which includes equity in five Arctic LNG carriers. 

  • 26 December 2013

    Shanghai based China Merchants Energy Shipping (CMES) announced the approval of China LNG Shipping Holdings (CLNG), which is taking part in bidding for the Yamal LNG transport project. CLNG is a joint venture between CMES and Cosco Dalian. The company runs a fleet of six LNG carriers and it recently gained approval from CMES to invest, alongside China National Offshore Oil Corp. […]

  • 2 July 2020
    Business & Finance

    China Merchants Energy Shipping (CMES) has agreed to acquire 70% of equity interest in Singapore-based bunker trader China Merchants Energy Trading (CMET) from a sister company China Merchants Hoi Tung. The tanker and oil shipping giant said the move was aimed at ensuring a sustainable supply of fuel oil and other oil products to its […]

  • 17 February 2015
    Business & Finance

    China Merchants Energy Shipping (CMES) and Sinotrans&CSC have trough their China VLCC joint venture signed a two-year crude shipping contract with West Pacific Petrochemical, a Dalian-based refinery operated by PetroChina. The contract can be extended for one more year, provided that the both parties approve it, CMES said in a stock exchange filing. CMES failed to disclose the […]

  • 11 November 2013

    China Export-Import Bank will back the construction of China Merchants Energy Shipping’s (CMES) 10 Very Large Crude Carriers (VLCCs) with a $510 million loan. Last Friday, CMES announced in a regulatory filing that it had entered into a financing agreement with China Exim Bank in Hong Kong for the construction of 10 VLCCs. A fleet […]

  • 19 May 2020
    Vessels

    China Merchants Energy Shipping (CMES) has placed an order for the construction of two 307,000 dwt very large crude carriers (VLCCs) with compatriot Dalian Shipbuilding Industry (DSIC). Chine Merchants claims to be the world’s largest VLCC and VLOC owner. The order comes in the wake of the contract CMES inked with China Shipbuilding Group for […]

  • 4 February 2013
    Business & Finance

    China Merchants Energy Shipping (CMES) announced on Friday that the company has entered into a shipbuilding contract with Dalian Shipbuilding Industry Corp (DSIC) and China Shipbuilding & Offshore International Co (CSOC) ordering 3+2 Very Large Crude Carriers (VLCCs). The new 319,000 dwt VLCCs will be build according to an eco-friendly ship design, which will be […]

  • 8 January 2018
    Business & Finance

    China Merchants Energy Shipping (CMES) has taken delivery of Pacific Merit, its newest Ultramax bulk carrier.

  • 4 December 2015
    Business & Finance

    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 […]

  • 11 November 2019
    Business & Finance

    The company said it would pay no more than USD 85 million per ship.

  • 2 September 2015
    Business & Finance

    China Merchants Energy Shipping (CMES) has set up a wholly-owned subsidiary that will own and operate the Very Large Crude Carriers (VLCC) bought from Brazilian mining giant Vale. The new company named China VLOC Company Limited, will be based in Hong Kong and will be in charge of four Valemaxes that are expected to join CMES […]

  • 5 August 2013

    After showing its readiness to make a big very large crude carrier (VLCC) order, shipowner China Merchants Energy Shipping (CMES) has exercised its options with Dalian Shipbuilding Industry (DSIC) and Waigaoqiao Shipbuilding for the construction of additional four VLCCs bringing the total order to ten VLCCs. As SinoShip reports, CMES signed shipbuilding contracts with DSIC […]

  • 25 January 2016
    Business & Finance

    A state-owned shipping operator China Merchants Energy Shipping (CMES) said that it expects a 450 to 500 percent rise in its net profit for the 2015 financial year. CMES’s net profit should amount to some USD 180 million, compared to a net profit of USD 30.5 million in 2014, the Shanghai-listed company said in a stock filing. CMES […]

  • 1 February 2016
    Business & Finance

    Shanghai-listed China Merchants Energy Shipping (CMES) said that its subsidiary China VLCC signed a charter deal with the Netherlands-based Royal Dutch Shell. The charter deal relates to a supertanker (VLCC) that has been hired for a period of three years. As disclosed by CMES, the value of the deal is set at RMB 262 million […]

  • 2 September 2015
    Business & Finance

    China Merchants Energy Shipping (CMES) has set up a wholly-owned subsidiary that will own and operate the Very Large Crude Carriers (VLCC) bought from Brazilian mining giant Vale. The new company named China VLOC Company Limited, will be based in Hong Kong and will be in charge of four Valemaxes that are expected to join CMES […]

  • 5 February 2014

    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 […]

  • 7 January 2016
    Business & Finance

    China Merchants Energy Shipping (CMES) has signed charter agreements with the subsidiaries of British Petroleum (BP) and Taiwan’s CPC Corporation for one supertanker each. The companies will hire Very Large Crude Carriers (VLCC) for a period of up to three years. The contracts are valued at RMB 495 million (USD 75.5m), accounting for 19% of […]

  • 10 April 2020
    Business & Finance

    Shanghai-listed China Merchants Energy Shipping (CMES) has placed an order with Jinling Shipbuilding, a shipyard of China Merchants Group, for four open hatch bulk carriers. The 62,000 dwt bulkers will cost US$ 29.6 million per ship, pushing the total investment to US$ 118.6 million. The newbuilds are scheduled for delivery in 2022. CMES said that […]

  • 3 December 2019
    Business & Finance

    CMES orders four new-generation very large crude carriers.

  • 21 December 2015
    Business & Finance

    Chinese state-owned shipping operator China Merchants Energy Shipping (CMES) has signed building contracts for further six of its planned ten very large crude carriers (VLCC). The vessels, which will feature 308,000 dwt, will be built by Dalian Shipbuilding Industry Group, a joint venture shipyard controlled by Chinese shipping company Cosco. The six VLCCs will be constructed for a price of […]

  • 10 February 2015
    Business & Finance

    China Merchants Energy Shipping (CMES) has though its subsidiary, China VLCC, chartered out two Very Large Crude Carriers (VLCC) to oil giants BP and Shell. Under the chartering deal, China VLCC has secured two two-year charters for its VLCCs with each oil major. The contract is valued at RMB 360 m (approximately USD 57-6 million), […]

  • 5 January 2018
    Business & Finance

    DACKS has named and delivered a very large crude carrier to China Merchants Energy Shipping.