China Merchants Energy Shipping (CMES) is returning to the Very Large Ore Carrier (VLOC) newbuilding market after an 11-year absence, announcing plans to order six new-generation vessels as it continues expanding and modernizing its global fleet.
The company will sign a shipbuilding agreement with China Merchants Shipbuilding Industry for the construction of six 343,000-deadweight-tonne (dwt) VLOCs designed with enhanced energy efficiency and environmentally friendly technologies.
The project will involve an investment of up to RMB 4.93 billion (around $720 million), with each vessel costing RMB 822 million. The vessels are scheduled for delivery in phases from 2029 to 2030.
The order is CMES’ first for new VLOCs in more than a decade. Its previous order was placed in 2015, when the company commissioned 10 vessels of 400,000 dwt from Shanghai Waigaoqiao Shipbuilding, Beihai Shipbuilding, and China Merchants Heavy Industry (Jiangsu). Those ships entered service between 2018 and 2019.
The latest contract forms part of a broader fleet expansion strategy launched by CMES at the beginning of 2026, as the company increases investment across multiple shipping segments to strengthen its competitive position.
In March, CMES signed a contract with Dalian Shipbuilding Industry for the construction of 10 Very Large Crude Carriers (VLCCs).
The expansion continued in May, when Sinotrans Container Lines, a CMES subsidiary, placed an order for 12 container ships with China Merchants Shipbuilding.
Earlier this month, the company also approved another series of newbuilding projects that include five Aframax oil tankers to be built by CSSC Dalian Shipbuilding, along with four 1,800-TEU container vessels and one 210,000-dwt Newcastlemax bulk carrier, all to be constructed by China Merchants Shipbuilding.
CMES expects these investments to support future growth as market conditions remain favourable across both the tanker and dry bulk sectors.
Net profit in the first half of 2026 is expected to rise by 214% to 248% year on year, driven by continued strength of the global tanker market and stable recovery of dry bulk shipping, the company said.
The new VLOC order strengthens CMES’ long-term commitment to fleet renewal and is meant to allow the company to capitalize on the growing demand for the global dry bulk transportation market with a new generation of larger, more efficient vessels.
