Maritime Service Network CNSS has learned that China Merchants Energy Shipping Co., Ltd. ("CMES") announced on August 5 that it has recently signed five Shipbuilding Contracts with Dalian Shipbuilding Industry Co., Ltd. ("Dalian Shipbuilding") through its wholly-owned subsidiary, China Merchants Tankers (Hong Kong) Company Limited, to build five energy-efficient AFRAMAX tankers equipped with scrubbers and shaft generators. The total contract value is approximately RMB 2.485 billion (equivalent), with deliveries scheduled between 2029 and 2030.

CMES stated that the order for these five tankers is intended to consolidate and enhance the company's world-class tanker fleet market position, further strengthen its competitiveness and ability to serve customers, and seize market opportunities and existing high-quality shipbuilding resources to achieve the development goals of fleet renewal, optimization, and upgrading.

According to the announcement, CMES plans to establish new wholly-owned single-vessel subsidiaries overseas to take delivery of the newbuildings.

CMES disclosed a new shipbuilding plan last month, aiming to place a total of 10 new orders across its tanker, dry bulk, and container vessel fleets. The five AFRAMAX tankers signed this time are the first projects to be implemented under that plan.

CMES expects to achieve net profit attributable to shareholders of RMB 6.6–7.3 billion in the first half of the year, up 214%–248% year-on-year. Net profit attributable to shareholders excluding non-recurring gains and losses is expected to be approximately RMB 6.5–7.2 billion, representing a year-on-year increase of 244%–281%.