China Merchants Energy Shipping (CMES) has placed a major shipbuilding order valued at $1.24 billion, marking a significant investment in its crude oil transport capacity.
Through its subsidiary Haihong Shipping (Hong Kong), the company has contracted 10 very large crude carriers (VLCCs) from Dalian Shipbuilding Industry Corp, at an average cost of $124 million per vessel.
Each vessel will feature a capacity of 306,000 dwt and will be equipped with exhaust gas cleaning systems and shaft generators. The design also includes provisions for potential future conversion to dual-fuel propulsion, aligning with evolving environmental requirements.
Deliveries are scheduled between 2028 and 2030, with two vessels expected in the first delivery phase in 2028.
As of the end of 2025, CMES operated 51 VLCCs, with a combined capacity of 16.11 million dwt and an average fleet age of 10.3 years. The company also had five VLCCs already under construction prior to this new order.
The investment aims to optimise fleet structure, modernise shipping capacity, and capture opportunities in the global crude oil transport market. CMES stated that the expansion will further consolidate its leadership in VLCC operations while enhancing the security and stability of China’s energy supply chain.
