Cmes News

QatarEnergy CEO Saad Al Kaabi announced on Sunday that the company has finalised a number of charter contracts with several Asian ship owners to bolster its shipping fleet by 19 LNG vessels ahead of a massive expansion in LNG output.In a ceremony at its Doha headquarters state-owned QatarEnergy signed contracts to charter six vessels from CMES LNG Carrier Investment, six vessels from Shandong Marine Energy and three vessels from MISC Berhad. Those 15 vessels will be built at South Korea's Samsung Heavy Industries…

China Merchants Energy Shipping (CMES), the Shanghai-listed shipping giant and daughter company of China Merchants Heavy Industry (CMHI), has ordered an MAN B&W 7G80ME-LGIM (-Liquid Gas Injection Methanol) main engine in connection with the construction of a very large crude carrier (VLCC). The first such dual-fuel methanol order for the ship type, Dalian Shipbuilding Industry Co (DSIC) will construct the vessel with delivery due by April 2026.CSE (China Shipbuilding Industry Corporation Diesel Engine Co.…

MacGregor, part of Cargotec, has been chosen to deliver RoRo equipment for two of the world's first methanol-fueled Pure Car and Truck Carriers (PCTC) for China Merchant Energy Shipping to be built at China Merchants Heavy Industry (Jiangsu) Co., Ltd. in China.The vessels are to be delivered to the owner between the third and fourth quarters of 2025.MacGregor´s scope of supply is to design and deliver the key components consisting of external and internal ramps, covers, electrically operated doors…

China Merchants Heavy Industry (CMHI) has ordered six small-bore, seven-cylinder 21/31DF-M, methanol-burning gensets in connection with the construction of 2 × 9,300 ceu (car equivalent units) PCTCs for China Merchants Energy Shipping (CMES).The business represents the very first order for the new methanol-powered, MAN four-stroke genset. MAN Energy Solutions’ licensee, CMP, will build the engines in China with first delivery due in Q1, 2025.The 3 × 7L21/31DF-M gensets aboard…

China Merchants Heavy Industry has ordered two MAN B&W 7S60ME-LGIM (-Liquid Gas Injection Methanol) engines in connection with the construction of two 9,300 ceu (car equivalent units) PCTCs for China Merchants Energy Shipping (CMES).The order is the first order globally for the S60ME-LGIM variant, the first methanol-fuelled engine for a PCTC, and the first Chinese-built methanol engine.Engine manufacturer, CSE, will construct the engines in China with respective vessel delivery set for 2025 and 2026; the order also contains an option for an additional four vessels.

U.K.-based Silverstream Technologies announced it has secured an order to supply its air lubrication system for a series of six new liquefied natural gas (LNG) carriers being built for Abu Dhabi National Oil Company (ADNOC) by China's CSSC Jiangnan Shipyard Group Co. Ltd.Scheduled for delivery in 2025 and 2026, the six new 175,000-cubic-meter-capacity (CBM) vessels will be the first LNG carriers built at Jiangnan Shipyard and among the first Chinese-built LNG carriers fitted with…

China is making fast inroads in the market for newbuild liquefied natural gas (LNG) tankers as local and foreign shipowners turn to its shipbuilders for the specialty vessels because long dominant yards in South Korea are fully booked. Three Chinese shipyards - only one of them having experience building large LNG tankers - won nearly 30% of this year's record orders for 163 new gas carriers, claiming ground in a sector where South Korea usually captures most of the business.

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.

Japanese shipping and logistics firm NYK has signed a long-term time-charter contract with CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. for six liquefied natural gas (LNG) carriers, in addition to a shipbuilding contract for the vessels with Hudong-Zhonghua Shipbuilding (Group) Co. Ltd.This is NYK's first long-term time-charter contract for an LNG carrier with CNOOC. The six vessels are scheduled to be delivered between 2026 and 2027 and will be mainly engaged in LNG transportation to China.

The UK-based maritime classification society Lloyd’s Register (LR) has granted approval in principle (AiP) to a quartet for an LNG-fueled VLCC design that uses a prismatic GTT Mark III membrane LNG tank.The AiP was granted to China Merchants Energy Shipping (CMES), CNOOC Gas and Power Group, Dalian Shipbuilding Industry (DSIC), and Gaztransport and Technigaz(GTT).The main objectives of the AiP include developing a specification for a dual fuel VLCC that meets the IMO’s GHG 2030 emission limitations and preparing the relevant design drawings.CMES and CNOOC G&P, with assistance from LR and GTT, also performed an economic analysis in terms of capital expenditure (CAPEX) and operating expenditure (OPEX).

Partners involved in a new joint development project (JDP) have set out to design a very large crude carrier (VLCC) that will run on liquefied natural gas (LNG) fuel.Lloyd's Register (LR), China Merchants Energy Shipping Co., Ltd. (CMES), CNOOC Gas and Power Group, Dalian Shipbuilding Industry Co., Ltd. (DSIC), and GazTransport and Technigaz SA (GTT) have teamed up to evaluate design options for an LNG-fueled VLCC that uses a prismatic GTT Mark III membrane LNG tank. The scope of the JDP includes reviewing solutions to minimize construction costs for LNG-fueled ships…

U.S. crude oil shipments to China have "totally stopped", the President of China Merchants Energy Shipping Co (CMES) said on Wednesday, as the trade war between the world's two biggest economies takes its toll on what was a fast growing businesses.Washington and Beijing have slapped steep import tariffs on hundreds of goods in the past months. And although U.S. crude oil exports to China, which only started in 2016, have not yet been included, Chinese oil importers have shied away from new orders recently."We are one of the major carriers for crude oil from the U.S. to China.

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.

China Energy Transport Co., Ltd. (China VLCC) has sold two secondhand VLCCs to an unrelated third party for a total price of $117.5mln. China VLCC is 51 percent owned by China Merchants Energy Shipping (CMES) and 49 percent owned by Sinotrans & CSC Group. It has signed agreements with two Marshall Island-registered companies, Coral Shipowning and Medal Shipowing, under which China VLCC will sell a 297,600 dwt VLCC of six to seven years old  to each of the two companies. The entry into force of the agreement remains subject to the Board of Directors of the company and the counterparty approved by the Board. Meanwhile, China VLCC has on Thursday taken delivery of a new VLCC named New Constant in Dalian, China.

China Merchants Energy Shipping Co Ltd (CMES)  has firmed up orders to build six very large crude carriers (VLCCs) at Dalian Dalian Shipbuilding Industry Corp for $522 million, reports Reuters. The deliveries of 308,000dwt VLCCs are scheduled between August 2018 and October 2019. Order for six more VLCCs brings Chinese tanker operator’s total orders to ten. A week ago, CMES has placed an order for four newbuilding VLCCs, with two each at Nantong Cosco KHI Ship Engineering (Nacks) and Dalian Cosco KHI Ship Engineering (Dacks). The four orders are part of a 10-VLCC newbuild plan which was announced early last week. The eco-friendly VLCCs will be operated by China VLCC, a joint venture of CMES and Sinotrans & CSC Group.

MAN Diesel & Turbo marked the sale of its 60,000th turbocharger after 80 years of turbocharger business, during the Marintec 2015 marine trade fair in Shanghai, by making a presentation to turbocharger customer, China Merchants Energy Shipping Co. Ltd. (CMES). The milestone has been reached with the (coming) delivery of 2 × TCA66-21 turbochargers, bound for an MAN Diesel & Turbo MAN B&W 7G80ME-C9 two-stroke engine powering a VLCC. The ceremony took place at the MAN stand at the trade fair where MAN Diesel & Turbo’s CEO, Dr.

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.

The global shipping industry consolidation appears to be picking up, with much of the activity centering on Asia, reports Nikkei. The overcapacity and weaker global trade have fueled talk of a shakeout in the industry. CMA CGM is in “exclusive” talks with Neptune Orient Lines’ (NOL) largest shareholder, Temask, for the purchase of its APL container liner business. Over in China, the top two state-owned operators are in the final stages of merger talks. NOL announced that CMA CGM had been granted exclusive negotiating rights, through Dec. 7. Singaporean sovereign wealth fund Temasek Holdings, which owns 68% of the shipping company, has been seeking a buyer since early summer. The French suitor beat Denmark-headquartered A.P. Moller-Maersk, the world leader, for pole position.

China Merchants Energy Shipping (CMES), a Chinese international oil tanker operator, projects doubled profit in the first half of 2015 from a year ago. The Shanghai-listed Chinese ship-owner predicted on Friday that its net profits attributable to its shareholders would rise 110-130 percent year on year in the first half of this year. It has reported an unaudited profit of RMB253.55m ($40.51m) in the January-June 2015 period. CMES aims to double its revenues in 2015 from 2014, to CNY5.4 billion with the deliveries of newbuilds after a rash of scrapping of old tonnage in 2014. In 2014, CMES' revenues rose 1.4% y/y to CNY2.6 billion. The…

China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set up a wholly owned subsidiary China VLOC Company Limited to operate 400,000 dwt ore carriers in Hong Kong. The new Hong Kong-based subsidiary will own the four Very Large Ore Carriers (VLOC) or "Valemax" vessels, purchased at a total price of $448m by CMES. The 400,000-deadweight-tonne ships are some of the largest ships ever built and were sold under accords between Vale and China Merchants. CMES had earlier entered into a deal for it to order 10 VLOCs against a 25-year contract of affreightment (COA) with Vale.

China Merchants Energy Shipping Co., Ltd, a subsidiary of China Merchants Group, on Friday denied media reports that China Merchants Group would merge with Sinotrans & CSC Holdings Co., Ltd. CMES, an ocean transporter of crude oil and other energy sources, filed a statement with the Shanghai Stock Exchange (SSE) on late Friday, saying that the company and its parent have not yet received any notice from authorities about the merger. Sinotrans Air Transportation Development Co. Ltd also filed a clarification to the SSE on Friday, denying the report on the merger of its actual controller Sinotrans & CSC with China Merchants Group. The companies have yet to receive any notices regarding their merger, and there are no important announcements that need to be made public as yet.

Sinotrans Shipping, one of China’s largest shipping companies, is in negotiations to take part in a joint venture to commission the building of five Arctic LNG carriers, says the company's stock market announcement. Sinotrans Shipping said it expects to take 25.5 percent of the shares in the joint venture without revealing any further information. Meanwhile, a report in Reuters said that China Merchants Energy Shipping, Sinotrans Shipping and Greek shipping firm Dynagas are in talks to form a joint venture to build five vessels to ship liquefied natural gas (LNG) from the Arctic. According to the plan, the five vessels will be jointly invested by Dynagas (49%), CLNG (25.5%) and Sinotrans Shipping (25.5%). Total price of the vessels is about $158.7m.

State-owned shipping giants China Ocean Shipping Co. (Cosco Group) and China Shipping Group (CSG)  are in advanced negotations on combining their container shipping businesses, reports WSJ. Rumors of a merger deal between the two have been floating for half a year. Both companies suspended trading their shares at the start of August. Discussions are complex and would require government and regulatory approval that has proved difficult to predict. If successful, the deal would create the world’s fourth largest container operator by capacity. In a statement to the Shanghai Stock Exchange, China COSCO  said after market close on October 13 that its trading halt would not last more than another month and it will announce important strategic developments within five trading days.