en.Wedoany.com Reported - China Merchants Energy Shipping (CMES) plans to build five new vessels through shipyards under its related party, China Merchants Shipbuilding Industry Group, including one 210,000 DWT Newcastlemax bulk carrier and four 1,800 TEU container ships, with a total project investment cap of 1.51 billion yuan. All vessels will be equipped with scrubbers, shaft generators, and high-efficiency antifouling paint, and are scheduled for delivery in 2028.
According to the announcement, this shipbuilding order constitutes a related-party transaction within the group, with the related party being shipyards under China Merchants Shipbuilding Industry Group (CM Shipbuilding). CMES had previously conducted inquiries and price comparisons with multiple independent third-party shipyards and concluded that CM Shipbuilding can secure scarce early-delivery berths with more favorable comprehensive commercial terms. This aligns with the company's fleet upgrade plan and helps optimize its dry bulk and container dual-line capacity structure. The transaction was approved by the board of directors, with all related directors abstaining from voting. It will also be submitted for shareholder meeting approval, where related shareholders will abstain from voting. Funding will be raised through a combination of internal funds and external financing. After delivery in 2028, the new vessels will be used for capacity renewal and expansion on existing routes, with no impact on 2026 financial data.
Benefiting from the high prosperity of the shipping market, CMES's operating performance has surged significantly. According to previously disclosed 2026 semi-annual performance forecast data, the company expects to achieve revenue of 18.7 billion to 20.6 billion yuan in the first half of the year, a year-on-year increase of 48% to 63%; total profit is expected to be 7.7 billion to 8.6 billion yuan, a substantial year-on-year increase of 208% to 244%. The robust profitability provides financial support for the continuous expansion of the fleet.
Since 2026, CMES has issued multiple shipbuilding announcements in batches, simultaneously expanding capacity across various categories including oil tankers, container ships, and dry bulk carriers. On January 20, it announced orders for four 3,000 TEU conventional fuel container ships equipped with scrubbers, with a total investment not exceeding 1.324 billion yuan and delivery scheduled for 2027 to 2028. On March 31, it signed a contract with third-party Dalian Shipbuilding for 10 very large crude carriers (VLCCs), with dual-fuel conversion space reserved, at a total cost of 8.566 billion yuan, with delivery locked in between 2028 and 2030. On April 24, it ordered four 8,200 TEU methanol-ready container ships and four 1,800 TEU container ships, with a total project investment not exceeding 3.814 billion yuan, planned for delivery in 2028. Including this order, CMES has cumulatively secured orders in 2026 for one Newcastlemax bulk carrier, 16 container ships, one shuttle tanker, and 10 VLCCs, covering the full spectrum of dry bulk, feeder and mid-to-large container ships, and deep-sea crude oil transportation.
CMES stated that ordering ships from shipyards under its related party, China Merchants Shipbuilding Industry Group (CM Shipbuilding), aligns with the company's strategic plan and the development needs of its bulk carrier transportation and container shipping businesses, and is a specific measure to optimize capacity structure and route layout. The choice of CM Shipbuilding over third-party shipyards is due to earlier delivery dates, more favorable comprehensive transaction terms, guaranteed construction and delivery capabilities, and the best overall comparison results after inquiries with multiple third-party shipyards.
