China Merchants Nanjing Tanker Corporation Limited (hereinafter “China Merchants Nanjing Tanker”) has recently completed the industrial and commercial change registration for its acquisition of 100% equity in Nanjing Changjiang Oil Transportation Logistics Co., Ltd. (hereinafter “Nanyou Logistics”). At the same time, the company’s board of directors reviewed and approved proposals to build four 115,000-dwt LR2 tankers and ten 4,000-dwt crude oil barges, and to dispose of the M.V. “Changhang Jixiang,” among others, further adjusting the fleet capacity structure.

On October 31, China Merchants Nanjing Tanker announced that it had completed the industrial and commercial change registration procedures for the equity transfer of Nanyou Logistics on October 30. The acquisition was made in cash at a transaction price of RMB 684 million. Upon completion of the transaction, Nanyou Logistics became a wholly owned subsidiary of China Merchants Nanjing Tanker and was included in the company’s consolidated financial statements. The Nanyou Logistics Entrusted Management Agreement previously signed by both parties in July 2025 was terminated concurrently.

China Merchants Nanjing Tanker said that the acquisition aims to deepen the integration of liquid cargo assets, strengthen its core liquid cargo transportation business, and enhance its integrated service advantages.

In terms of fleet renewal, the board of directors of China Merchants Nanjing Tanker reviewed and approved on October 27 a proposal to build four 115,000-dwt LR2 tankers. The company plans to invest no more than RMB 1.96 billion through its wholly owned subsidiary Nanjing Tanker (Singapore) Pte. Ltd. to build four new energy-efficient LR2 tankers at Dalian Shipbuilding Industry Co., Ltd. The vessels will fly the Hong Kong flag and are expected to be delivered successively between June and December 2029.

According to the announcement, the new vessels will be built to green and smart standards, meet the International Maritime Organization’s Tier III emission requirements and Phase 3 of the IMO Energy Efficiency Design Index (EEDI), and adopt a methanol dual-fuel-ready design. The proposal is still subject to review and approval by the company’s shareholders’ meeting.

In addition, to improve the current capacity situation for crude oil transportation along the Yangtze River and meet the self-unloading operation needs of petrochemical refinery customers along the river, China Merchants Nanjing Tanker plans to invest no more than RMB 192 million through Nanyou Logistics to build ten 4,000-dwt crude oil barges at Hunan Jinhang Ship Manufacturing Co., Ltd., equipped with cargo oil pumps. The barges are expected to be delivered in batches within 2027. This proposal is also subject to approval by the shareholders’ meeting.

The expansion aims to strengthen China Merchants Nanjing Tanker’s core river-sea transshipment business, alleviate bottlenecks in inland crude oil distribution, complement its ocean-going tanker fleet, build a coastal-inland river petroleum transportation network, and serve the energy security of the Yangtze River Economic Belt.

China Merchants Nanjing Tanker currently owns and controls a fleet of 74 vessels in total, with annual cargo transportation volume exceeding 44 million tonnes. In the third quarter of this year, the company achieved operating revenue of RMB 1,586,447,526.51, up 6.00% year on year; net profit attributable to shareholders of the listed company was RMB 325,830,001.26, down 13.54% year on year.