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China Merchants Energy Shipping plans to order 12 Handymax bulk carriers.

2013-08-31 09:00

     China Merchants Energy Shipping Co., Ltd. (hereinafter referred to as "CMES") plans a series of newbuilding orders for large handy-sized bulk carriers with the goal of integrating its bulk carrier fleet.

CMES recently publicly stated that the company is planning a newbuilding project for 12 large handy-sized bulk carriers. However, detailed information such as the names of the shipyards and the methods for financing the newbuilding projects have not been explicitly disclosed.

     In addition, the shipping company, listed on the Shanghai stock exchange, ordered up to 13 Very Large Crude Carriers (VLCCs) from Chinese shipyards earlier this year under the Chinese government's "National Oil, National Transport" policy, with delivery scheduled for 2017, and then decided to scrap 5 aging vessels.

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