Search results for: China Merchants

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A list of search results

  • 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 […]

  • 10 April 2019
    Business & Finance

    Viking and China Merchants would form a joint venture to form a cruise line for the Chinese cruise market.

  • 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.

  • 21 January 2020
    Business & Finance

    CMES has decided to integrate the shipping assets of its subsidiary Sinotrans & CSC Holdings.

  • 4 February 2013

    Dalian Shipbuilding Industry Corp (DSIC), China Shipbuilding & Offshore International Co (CSOC) and China Merchants Energy Shipping (CMES) have signed an agreement for the construction of 3+2 very large crude carriers (VLCCs). The signing ceremony, held on Friday, February 1st, was attended by the president of China Merchants Group, Mr. Wang Hong the Merchants’ Chairman Mr. […]

  • 23 February 2012
    Business & Finance

    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. […]

  • 11 April 2017
    Business & Finance

    The long-awaited merger agreement between China Merchants Group and Sinotrans & CSC Holdings was finalized on April 10, according to a statement released by Sinotrans Shipping Limited. With the strategic reorganisation, China’s Sinotrans & CSC became a wholly-owned subsidiary of Hong Kong-based China Merchants. The merged corporation is expected to further improve the competitiveness of China’s state enterprises and […]

  • 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 […]

  • 14 November 2014
    Business & Finance

    Chinese shipping conglomerates China Shipping Group (CSG) and China Merchants Group signed  a strategic cooperation deal on port development, financing and shipping services on Wednesday, November 12th. The move comes as the Chinese Government encourages predominantly state-owned shipping companies to join forces in recovering the sluggish industry. Under the agreement, the companies plan to work together on reforms […]

  • 23 March 2018
    Business & Finance

    A giant ore carrier Ore Tianjin has joined the Valemax fleet, the world’s largest ship type for carrying iron ore.

  • 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 […]

  • 8 September 2015
    Business & Finance

    China’s shipping majors China Merchants Energy Shipping (CMES), a subsidiary of China Merchants Group, and Sinotrans & CSC Holdings Co. Ltd denied media reports on potential merger between the two companies. The information on the merger was disclosed last week by local media citing sources familiar with the matter from the two companies and SASAC Enterprise Reform Bureau. As informed, […]

  • 10 January 2014

    Mermaid Maritime, through its subsidiaries, have entered into the following agreements with China Merchants Industry Holdings Co., Ltd. for an aggregate sum of $436 million. (a) Agreement for the Design, Construction and Completion of a Self-Erected Drilling Tender (Hull No. CMHI (JS)-151-1 and Equipment Set between MTR-3 (Singapore) Pte. Ltd. and China Merchants Industry Holdings […]

  • 20 May 2015
    Business & Finance

    Brazilian mining giant Vale S. A. (Vale) has concluded the contract with China’s bulk carrier specialist, the China Ocean Shipping Company (Cosco), on the sale four very large ore carriers. The sale of 400,000 tons deadweight carriers, owned and currently operated by Vale, stems from the previously disclosed agreement signed with Cosco on September 12, […]

  • 2 July 2020
    Infrastructure, Vessels

    China Merchants Jinling shipyard started building on Tuesday two LNG and LBG-powered tankers for Sweden’s Terntank. Terntank ordered the duo last year at the Chinese yard previously known as AVIC Dingheng Shipbuilding. The vessels are an upgraded version of the shipping company’s AVIC series. Rolls-Royce Commercial Marine, now part of Kongsberg, designed the two ships […]

  • 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 […]

  • 11 November 2019
    Business & Finance

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

  • 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 […]

  • 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. 

  • 8 September 2015
    Business & Finance

    China’s shipping majors China Merchants Energy Shipping (CMES), a subsidiary of China Merchants Group, and Sinotrans & CSC Holdings Co. Ltd denied media reports on potential merger between the two companies. The information on the merger was disclosed last week by local media citing sources familiar with the matter from the two companies and SASAC Enterprise Reform Bureau. As informed, […]

  • 29 August 2019
    Business & Finance

    China Merchants is looking to take over 73.87% of the company’s shares.