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China Merchants Group News

23 Oct 2023

Silverstream Gains AIP from China Classification Society

Left to right: Noah Silberschmidt, Founder & CEO, Silverstream; Liu Xiao Feng, Director CSS; Stephen Potts, COO, Silverstream; Sun Feng, Chairman & President, CCS. (Photo: Silverstream)

Maritime clean technology company Silverstream Technologies announced it has signed an agreement in principle (AIP) with China Classification Society (CCS), the primary class society in China that serves the shipping, offshore and related industrial industries.This is Silverstream’s first agreement of this nature with a classification society. The AIP confirms that CCS has reviewed and verified the Silverstream System’s design drawings and provides an independent class verification of its generic system design.

28 Sep 2022

Wing Sail-fitted VLCC Newbuild Delivered

New Aden (Photo: CCS)

A Chinese-built very large crude carrier (VLCC) fitted with fuel-saving and emissions-reducing wing sails has been delivered to China Merchants Group.The New Aden was handed over from Dalian Shipbuilding Industry Co., Ltd (DSIC) to China Merchant Energy Shipping Co., Ltd (CMES) on September 24. Built to China Classification Society (CCS) class, the newbuild tanker is equipped with two pairs of new generation rigid wing sails made of carbon fiber composite, which will provide auxiliary propulsion power to help reduce the vessel's fuel consumptions and emissions.

09 Jan 2020

Finnlines Orders 2 RoPax Vessels in China

Finnlines signed an order for two RoPax vessels with China Merchants Jinling Shipyard (Weihai), previously known as AVIC Weihai.In 2018, Finnlines ordered three hybrid StoRo ultra large green vessels at Jinling Shipyard, which is also now part of China Merchants Group.The two new "Superstar" 5,100 lm RoPax vessels ordered are expected to be delivered by 2023, informed Grimaldi’s roro and passenger company. They will be larger than the existing Star class vessels and will be Finnlines’ flagships both in terms of size and technology.With a length of about 230 meters, their loading capacity will be for 5,100 lane meters for rolling freight and around 1…

27 Nov 2019

Jan De Nul Orders Floating Installation Vessel

Luxembourg-based Jan De Nul has ordered a second mega offshore installation vessel, Les Alizés, from the CMHI Haimen shipyard in China.Together with the Voltaire, the new floating installation crane vessel will be in a super-size class of its own, capable of building the newest generation of offshore wind farms.Les Alizés, that will be ready in 2022, is equipped with a crane having a lifting capacity of 5,000 tons and equally impressive lifting heights. Les Alizés will mainly be used for the construction of offshore wind farms, but with her impressive crane she is also extremely suitable for decommissioning offshore oil and gas platforms."Thanks to her dimensions and impressive lifting and loading capacities…

26 Aug 2019

NYK Group to Build New Heavy-lift Vessels

Photo: NYK Line

NYK Bulk & Projects Carriers Ltd., an NYK Group company and the only shipping company that owns and operates heavy-lift ships in Japan, signed a contract with Nanjing Jinling Shipyard Co. Ltd., which is part of the China Merchants Group, to build a pair of heavy-lift vessels. The ships will be equipped with a pair of 400-ton cranes and be able to lift up to 800 tons of heavy cargo. The hold will be about 95 meters in length at its maximum without any bulkheads, i.e., upright walls within the hold.

26 Aug 2019

NBP Orders 2 Heavy Lift Vessels at CSC Jinling

The NYK group company, NYK Bulk & Projects Carriers Ltd. (NBP) has signed the contract with Nanjing Jinling Shipyard (CSC Jinling), which is part of the China Merchants Group, to build two next-generation energy-saving heavy-lift vessels.Each vessel will be equipped with two 400-ton cranes; cargo up to 800 tons will be able to be loaded through tandem operation.The  vessel will have one hatch and one hold, and the hold shape will be an open-hatch type, making the vessels very efficient for cargo handling and reducing cargo damage.The on-deck length will be about 110 meters, and the in-hold length will be about 95 meters at a maximum.

05 Oct 2018

SunStone Orders Second Expedition Cruise Ship

(Image: Ulstein Design & Solutions AS)

U.S. based SunStone Ships has exercised an option to order a second expedition cruise vessel to be built in China and scheduled for delivery in August 2020.The new order comes under a design and equipment contract SunStone signed with Ulstein Design & Solutions AS in 2017 that included options for up to nine X-BOW expedition cruise vessels. Ulstein, whose contract is with the China Merchants Group (CMG), is responsible for the delivery of the design and equipment package.Construction of the first vessel…

07 Jan 2018

CMES Fleet Adds Bulk Carriers

The delivery and naming ceremony of PACIFIC MERIT, an energy-saving and environment-friendly bulk carrier with 64 thousand DWT, tailor-made by China Merchants Energy Shipping  (CMES), was held in Chengxi Shipyard on 4 January 2018.    Capt. Zhao Yaoming, Vice President of CMES and President of Hong Kong Ming Wah Shipping, and Lu Ziyou, the President of Chengxi Shipyard, attended and witnessed the ceremony.    On the same day, CMES held the naming and delivery ceremony for the 44th VLCC NEW PRIME in Dalian COSCO KHI Ship Engineering,  Ms Duan Xianghui, Director of China Merchants Group, Su Xingang, Director of China Merchants Group and Chairman of CMES,  Xie Chunlin, President and Director of CMES attended the ceremony.

12 Dec 2017

World’s Largest Crane Vessel under Development

Developers OOS International and China Merchants Industry Holdings tout OOS Zeelandia as the world’s largest semi-submersible crane vessel (Image: OOS International)

Holding OOS International Group B.V. said it is working with China Merchants Industry Holdings (CMIH) to design and build what will be the world’s largest semi-submersible crane vessel (SSCV), OOS Zeelandia. OOS unveiled the OOS Zeelandia during the EU-China Blue Industry Cooperation Forum in Shenzhen on December 8, but revealed the basic design has been in progress since a memorandum of understanding (MoU) was signed with the China Merchants Group subsidiary CMIH in July. According to OOS International…

06 Nov 2017

Designer-built Adventure Cruise

Explore: two Quest zodiacs head out (Photo: Lindblad Expeditions/Ian Strachan)

The 2016 Polar Code has its first luxury-adventure cruise adherents for the long, new ice-free seasons in the high latitudes. Likewise, many designs winning over owners and explorers target exotic Asia-Pacific destinations. Competition is fierce among “designer-shipyards” seeking to build their designs, but their creations could face fewer hurdles to construction than the designs of independents without a yard. Concepts bound for the slipway have something else in common: new davits for large numbers of water craft.

13 Apr 2017

China's CMG in Talks for Advent's Brazil Port Stake

China Merchants Group Ltd is in advanced talks to buy Advent International Corp's 50 percent stake in TCP Terminal de Contêineres de Paranaguá SA, Brazil's second-busiest container port, O Estado de S. Paulo newspaper said on Thursday. According to Estado, which cited unnamed sources familiar with the transaction, talks with the Chinese state-run company known as CMG gained momentum after Advent's negotiations with Dubai-based DP World Ltd hit a snag. Reuters reported in August that Advent had hired Morgan Stanley & Co and Grupo BTG Pactual SA to sell the TCP stake. Sources said at the time that Advent wanted to fetch a price for the stake that could set a minimum value of 3.5 billion reais ($1.1 billion) for TCP.

27 Sep 2016

Baltic Exchange Succumbs to Singapore as Shipping Turmoil Deepens

File photo: Nordic Bulk Carriers

The crisis in global shipping and a tax exodus by big Greek vessel owners have helped finally seal the fate of London's Baltic Exchange after at least three approaches to buy it over the last six years of its near-three centuries history. Some 95 percent of shareholders voted on Monday in favour of a takeover deal from Singapore Exchange, valued at 87 million pounds ($112.87 million), trumping more than one effort from the London Metal Exchange to snap it up. "For Baltic shareholders it does release value…

05 Aug 2016

SGX Prods Baltic Exchange Shareholders to Okay Bid

Total valuation of potential deal at least $113 million; Baltic shareholders key to clinching sale agreement. Singapore Exchange Ltd (SGX) plans to buy one of London's oldest institutions, the Baltic Exchange where shipping rates are published, and urged shareholders on Thursday to support a deal. As the global shipping industry struggles with the worst market conditions for decades, SGX offered shareholders in the privately-owned Baltic Exchange 160.41 pounds in cash per share, for a total 77.6 million pounds ($102 million). Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates and owns a trading platform for the multi-billion dollar freight derivatives market.

02 Aug 2016

Singapore Exchange Prepares Offer to Buy Baltic Exchange

Singapore Exchange Ltd (SGX) is readying a formal offer to buy London's Baltic Exchange following months of discussions that culminated in exclusive talks between both parties, sources familiar with the matter said on Tuesday. Founded in 1744, the privately-owned Baltic Exchange is no longer a forum for chartering vessels but owns benchmark indexes for global shipping rates and provides a trading platform for the multi-billion dollar freight derivatives market. The sources said both sides had reached key milestones for a deal to proceed and that SGX was getting ready to make a formal offer. The Baltic Exchange declined to comment, while an SGX spokeswoman referred to a May statement where it said both exchanges would benefit from new growth opportunities.

21 Jun 2016

Maersk Fights to Stay on top as Containership Downturn Deepens

Maersk Mc_Kinney Moller (Photo courtesy Maersk)

Denmark's Maersk Line is fighting to remain the world's no.1 container shipping carrier as a wave of mergers and acquisitions, particularly in Asia, creates new challengers trying to grab a bigger share of a depressed market. Maersk itself hasn't made a major acquisition for more than a decade but says it might be open to "the right opportunity", although doubters believe such deals risk accumulating ships without securing enough customers. A unit of oil and shipping group A.P. Moller-Maersk , the line has a 15 percent share of the overall container market.

25 May 2016

Singapore Exchange in Talks to buy Baltic Exchange

Baltic Exchange privately owned by 380 shareholders. The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the heart of the global shipping industry for centuries, the two companies said on Wednesday. Founded in 1744, the Baltic Exchange is no longer a forum for chartering vessels but owns benchmark indexes for global shipping rates and provides a trading platform for the multi-billion dollar freight derivatives market. The takeover talks come as the global shipping industry grapples with the worst market conditions for decades after a slump in commodity markets coincided with an increase in the number of vessels, sending freight costs to record lows.

11 May 2016

Baltic Exchange Says Talks Ongoing with Potential Buyers

Talks between the Baltic Exchange and a number of suitors are continuing, but any potential buyer of the business will have to provide assurances that its central role in shipping will not be "undermined", the Baltic's chairman said on Wednesday. On Feb. 26 the privately held Baltic Exchange confirmed it had received a number of "exploratory approaches" after the Singapore Exchange Ltd (SGX) said it was seeking to buy the business. Both statements came a day after Reuters reported the Baltic had held talks with SGX and other potential buyers including CME Group, ICE and Platts. Sources had estimated the Baltic's valuation was $120 million.

17 Mar 2016

China Merchants Offers to Buy Baltic Exchange

China Merchants Group has made an informal bid for London’s Baltic Exchange, says a report in Reuters. The State-run conglomerate has made an informal offer through a subsidiary, China Merchants Securities. An acquisition of the Baltic, which was founded in 1744, would give the Chinese conglomerate ownership of the industry's benchmark indices - which could be further commercialized - and greater access to the multi-billion dollar freight derivatives market. It emerged in February that the Baltic Exchange, a financial maritime hub located in the heart of the City of London, was being eyed by several companies, including the Singapore Exchange, CME Group, Intercontinental Exchange (ICE), and Platts. Japanese investment bank Nomura is advising the Baltic Exchange on a potential sale.

11 Mar 2016

Chinese Shippers Order for 30 Valemax Vessels

The Chinese shipping companies - Chinese shipping majors Cosco Group, China Merchants Group and ICBC Financial Leasing Co- ordered 30 Valemaxes worth a combined $2.5 billion for delivery starting from 2018, deployed on Brazil-China trade routes, reports WSJ. The vessels will bosst the trade between China and Brazil and also will invest billions of dollars into delaying shipbuilding industry in the country. The vessel will be employed on Brazil-China trade routes, boosting the import of Vale iron ore in China. Sources said the three state-controlled shipping companies ordered 10 ships each from four local yards—Shanghai Waigaoqiao Shipbuilding, Beihai Shipbuilding, CIC Jiangsu and Yangzijiang Shipbuilding—with deliveries scheduled to begin in 2018.

04 Jan 2016

China Merges Shipping Firms in Reform Push

Chinese shipping subsidiaries will realign their businesses in response to the merger between China Ocean Shipping (Group), known as Cosco Group, and China Shipping Group, reports Nikkei. Sinotrans & CSC Holdings Co., the nation's third largest shipping company, will become a wholly-owned subsidiary of China Merchants Group (CMG). Earlier in December, China approved the merger of another two of its biggest state-owned shipping companies, China Ocean Shipping Group (Cosco) and China Shipping Group. China Cosco Holdings is selling its entire stake in a bulk shipping company to parent Cosco Group for 6.77 billion yuan ($1.04 billion). Meanwhile, Cosco Pacific will buy a port operator from China Shipping Container Lines for 7.63 billion yuan.

30 Dec 2015

Green Signal for Sinotrans-China Merchants Merger

China's cabinet on Tuesday (Dec 29) approved a deal that fuses two of the country's biggest state-owned transport and logistics firms, reports Reuters. China's cabinet has approved China Merchants Group's acquisition of Sinotrans & CSC Holdings Co, the state asset regulator said on Tuesday. Previously directly supervised by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), Sinotrans & CSC Holdings is the biggest integrated logistics service provider with total asset of well over 100 billion yuan (16 billion U.S. dollars). Based in Hong Kong, China Merchants Group is a state-owned conglomerate with businesses in transportation, finance and real estate. By the end of 2014, its total asset stood at 624 billion (US$96 billion) yuan.

08 Dec 2015

CMES Confirms Order for 10 VLCCs

The board members of China Merchants Energy Shipping (CMES) has approved of a plan to order an additional 10 eco-friendly VLCCs. These vessels will be operated by CMES’ Hong Kong-based subsidiary, China VLCC Company Limited,  a tanker JV between CMES and Sinotrans & CSC Group. China VLCC  was set up in early September, will be in charge of vessel operation. CMES added that it would disclose more details on the announcement once the contracts on construction of the energy saving tankers are signed. Potential value of the deal is expected to reach around USD 920 million. China VLCC currently operates a fleet of 34 VLCCs, with an additional nine on order. In October, it sold VLCCs New Medal (297,600 dwt, built 2009) and New Founder (297,400 dwt, built 2008) to Greece’s Navios for $133m.

17 Nov 2015

China Merchants to Acquire Sinotrans

Chinese transport giant China Merchants Group looks set to takeover Sinotrans & CSC in the potential merger between the two shipping giants in China, reports Reuters. The two companies have been locked in reorganization talks, financial magazine Caixin  said, citing sources close to China Merchants. Officials from both companies declined to comment on the talks when contacted by Reuters on Tuesday. Sinotrans & CSC Holdings have announced that the parent group is undergoing strategic restructuring, adding to speculation that a tie-up between the conglomerate and its state-owned peer China Merchants Group is imminent. Sinotrans Shipping…