Greater China

CMES scraps ageing VLCC

Shanghai: China Merchants Energy Shipping has signed with Jiangmen Xinhui Shuangshui Shipbreaking & Steel Co to sell a 21 year-old 28,4600dwt VLCC for RMB79.35m.

CMES has been optimizing its fleet through disposing of old vessels and ordering new vessels in a response to China’s new shipbreaking policy. The company has ordered 10 VLCCs since last year, and deliveries will start from October this year. [04/04/14]

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