Shanghai-listed China Merchants Energy Shipping (CMES) sold 2011 built handysize bulk carrier 31K DWT MV Great Reward (built 2011) to Dalian Trawind International Ship Management for around $13 million. China Merchants Energy Shipping (CMES) has been selling non-eco bulk carriers. MV Great Reward is the fourth bulk carrier that China Merchants Energy Shipping (CMES) has sold a fourth bulk carrier since July 2021. Previously, China Merchants Energy Shipping (CMES) sold 2012 built bulk carrier 12K DWT MV CSC Rui Hai, 2012 built bulk carrier 12K DWT MV CSC Xin Hai, 2010 built handysize bulk carrier 31K DWT MV Great Resource. MV Great Reward and MV Great Resource equipped with BWTS (Ballast Water Treatment System). MV Great Reward, MV Great Resource, MV CSC Xin Hai, and MV CSC Rui Hai are not outfitted with scrubbers. After selling all non-eco ships, China Merchants Energy Shipping (CMES) controls a very small owned bulker fleet. However, China Merchants Energy Shipping (CMES) has chartered-in bulk carriers. Furthermore, China Merchants Energy Shipping (CMES) is going to take delivery of four (4) MPP (Multipurpose Bulk Carriers) from China Merchants Jinling Shipyard. China Merchants Energy Shipping (CMES) has been selling some of the vintage bulk carriers in its fleet which were taken over from former subsidiaries of Sinotrans & CSC. In 2017, state-backed China Merchants Group acquired Sinotrans & CSC to establish China’s second-largest shipping group. 12-August-2021
Shanghai-listed China Merchants Energy Shipping (CMES) has bought $957 million worth of 74 bulk carriers and 25.5% stakes in 5 LNG carriers from Sinotrans & CSC group firms and their ship-management firms. Chinese state giant China Merchants Group has been internal restructuring. In 2017, China Merchants Group acquired Sinotrans & CSC. Since the acquisition, further integration progress was slow and there was intra-group competition. China Merchants Energy Shipping (CMES) has acquired 74 bulk carriers and 25.5% stakes in 5 LNG carriers from some former Sinotrans & CSC group firms as part of the intra-group restructuring of state conglomerate China Merchants Group. $957 million worth of agreement is pending on the final approval from the Chinese central government. China Merchants Energy Shipping (CMES) is aiming to fund $957 million worth of agreement with its own cash and bank loans. According to China Merchants Energy Shipping (CMES), the latest deal is important to integrate shipping assets and create a common platform for shipping business. Competitiveness and profitability will be improved in the intra-group. China Merchants Energy Shipping (CMES) will acquire 74 bulk carriers (41 owned and 34 chartered-in) from Sinotrans Shipping. Before Sinotrans deal, China Merchants Energy Shipping (CMES) had a fleet of 57 bulk carriers. Furthermore, China Merchants Energy Shipping (CMES) will acquire Sinotrans Ship Management. After the latest deal, China Merchants Energy Shipping (CMES) will increase dry bulk shipping capacity. In a separate deal, China Merchants Energy Shipping (CMES) has acquired ormer Sinotrans & CSC firm that owns 25.5% interests in five (5) LNG carriers that ship from the Yamal LNG project:
- LNG Tanker Boris Vilkitsky (built 2017)
- LNG Tanker Fedor Litke (built 2017)
- LNG Tanker Georgiy Brusilov (built 2018)
- LNG Tanker Boris Davydov (built 2018)
- LNG Tanker Nikolay Zubov (built 2019)
Besides the latest five (5) Yamalmax LNG carriers, China Merchants Energy Shipping (CMES) has six (6) more Yamalmax LNG carriers via its 50:50 joint venture China LNG with Cosco Shipping Energy Transportation. In Shanghai Stock Exchange, after latest deal China Merchants Energy Shipping (CMES) share price closed at CNY 7.23 on Monday. China Merchants Energy Shipping (CMES) reported net profits of CNY 723 million in Q3 2019. 20-January-2020
Chinese state-owned ICBC Financial Leasing ordered ten (10) valemax bulk carriers. China Cosco Shipping and China Merchants Energy Shipping (CMES) both announced the long-awaited signing of 27-year contracts with Vale Mining in Brazil. These long-term exclusive contracts are behind the orders of 30 valemax bulk carriers 400K DWT. 18-April-2016