Search results for: China Merchants Energy Shipping

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  • 22 January 2019
    Business & Finance

    China Merchants Energy Shipping expects its net profit for 2018 to increase by up to 104 percent year-on-year.

  • 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 […]

  • 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. 

  • 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 […]

  • 3 December 2019
    Business & Finance

    CMES orders four new-generation very large crude carriers.

  • 30 July 2015
    Business & Finance

    Brazilian mining giant Vale S.A. (Vale) and China Merchants Energy Shipping Co. Ltd. (China Merchants), a state-owned shipping operator, concluded today the sale and purchase of four very large ore carriers (VLCCs) of 400,000 tons deadweight owned and currently operated by Vale. The transaction is related to the previously disclosed agreements celebrated with China Merchants on […]

  • 30 July 2015
    Business & Finance

    Brazilian mining giant Vale S.A. (Vale) and China Merchants Energy Shipping Co. Ltd. (China Merchants), a state-owned shipping operator, concluded today the sale and purchase of four very large ore carriers (VLCCs) of 400,000 tons deadweight owned and currently operated by Vale. The transaction is related to the previously disclosed agreements celebrated with China Merchants on […]

  • 5 January 2018
    Business & Finance

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

  • 12 October 2015
    Business & Finance

    China Merchants Energy Shipping (CMES) expects its net profit attributable to shareholders for the period between January 1 and September 30 to be 400% to 430% higher compared to the same period a year earlier, the Shanghai-listed company said in a stock filing. According to preliminary statistics of the company’s financial department, CMES will record around CNY […]

  • 4 March 2015
    Business & Finance

    State-backed shipping giant China Merchants Energy Shipping (CMES) said it was going to scrap eight more of its elderly ships. CMES will send two Aframax oil tankers and six dry bulk carriers to scrapyard, all operated by its subsidiary Youhua Shipping. Names and age of the ships to be dismantled have not been disclosed. CMES has been […]

  • 12 October 2015
    Business & Finance

    China Merchants Energy Shipping (CMES) expects its net profit attributable to shareholders for the period between January 1 and September 30 to be 400% to 430% higher compared to the same period a year earlier, the Shanghai-listed company said in a stock filing. According to preliminary statistics of the company’s financial department, CMES will record around CNY […]

  • 23 February 2012

    China Merchants Energy Shipping has revealed the intention to increase its competitiveness by purchasing 10 new VLCCs. Even though the oil tanker market is currently slow, Li Jian Hong, Chairman of China Merchants, is confident that this is the right moment for deriving a benefit from present low newbuilding prices and expanding the fleet capacity. […]

  • 6 December 2019
    Business & Finance

    Advantage Tankers buys two very large crude carriers.

  • 20 May 2016
    Business & Finance

    In a colorful arrival, China Merchants Energy Shipping (CMES) welcomed yesterday its new very large crude carrier (VLCC) New Constant. The vessel’s naming and delivery ceremony was held at Dalian Shipbuilding Industries’ shipyard.  The New Constant is a 319,000 dwt tanker, having a gross tonnage of 165,000 tons. The vessel features a length of 333 meters […]

  • 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 […]

  • 24 March 2016
    Business & Finance

    Driven by strong tanker shipping market tailwinds, the Chinese state-owned shipping operator China Merchants Energy Shipping (CMES) posted an almost fivefold surge in its 2015 net profit. Namely, compared to a net profit of RMB 200.26 million (USD 30.7 million) seen in 2014, CMES reported a 476 percent jump in its 2015 annual net profit reaching RMB 1.15 […]

  • 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 […]

  • 24 March 2016
    Business & Finance

    Shanghai-listed shipping company China Merchants Energy Shipping (CMES) has placed an order for ten VLOCs at three compatriot yards. Eight 400,000 dwt VLOCs will be built by Shanghai Waigaoqiao Shipbuilding (SWS) and Qingdao Beihai Shipbuilding Heavy Industry, four each for a total of USD 680m, whereas the remaining two are assigned to China Merchants Heavy Industry (Jiangsu). […]

  • 5 October 2018
    Business & Finance

    The ongoing trade tensions have resulted in the complete freeze of U.S crude oil shipments to China.

  • 29 May 2018
    Business & Finance

    ICBC Financial Leasing and CMES have joined forces to order six very large ore carriers (VLOCs).

  • 16 November 2015
    Business & Finance

    Shanghai-listed China Merchants Energy Shipping, a subsidiary of China Merchants Group, has issued a stock filing saying that its board approved a plan to order ten very large ore carriers (VLOC) as part of a charter deal with Brazil’s mining giant Vale. CMES said that two of the 400,000 dwt bulk carriers will be constructed at […]

  • 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), […]