China Merchants Energy further expands VLCC fleet

Shanghai: China Merchants Energy Shipping has signed four new VLCCs building contracts at the total value of $390m.

Four wholly-owned single ship companies of the company have inked shipbuilding contracts with Dalian Shipbuilding Industry and Shanghai Waigaoqiao Shipbuilding for two VLCCs at each yard.

The deal is expected to optimize the company’s tanker fleet and further improve the company’s fleet structure and market position, according to the company, which also also extended a VLCC building option with Dalian Shipbuilding Industry through its subsidiary Haihong Shipping. [30/09/14]

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