China Merchants Energy Shipping (CMES) has officially entered into shipbuilding contracts with China Merchants Jinling Shipyard for the construction of four 62,000 dwt multi-purpose heavylift vessels, after it announced plans to order the ships in March.
The total price for the four ships is $119m and they will join the fleet of CMES subsidiary Hong Kong Min Wah Shipping upon delivery in 2022.
CMES said the new ships will help the company expand its breakbulk operations and enhance profitability for the company.
Hong Kong Min Wah Shipping is the bulk shipping operation and management unit of China Merchants. The company currently operates a fleet of 145 ships.