CMES sells old VLCC

Shanghai: China Merchant Energy Shipping (CMES) announced that it has sold one 279,200dwt VLCC to Jiangmen Xinhui Shuangshui Shipbreaking & Steel for scrapping at a price of RMB83.91m.

CMES said the deal will add RMB3.71m in operating expenditure to the company and it is part of its fleet optimisation plan.

CMES currently has 10 VLCCs on order, the deliveries of the vessels will start from the third quarter of 2014. [03/06/14]

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