CMES Inks Deal for Further Six VLCCs

CMEC Chinese state-owned shipping operator China Merchants Energy Shipping (CMES) has signed building contracts for further six of its planned ten very large crude carriers (VLCC). The vessels, which will feature 308,000 dwt, will be built by Dalian Shipbuilding Industry Group, a joint venture shipyard controlled by Chinese shipping company Cosco. The six VLCCs will be constructed for a price of USD 522 million, and the delivery is expected to start in August 2018. CMEC expectes that all the vessels will be delivered until October 2019. As reported by World Maritime News, the company signed an agreement for the first four carriers last week. These vessels, worth an estimated USD 352 million, will be delivered at the end of 2018. China VLCC Company Limited, CMES’ Hong Kong-based subsidiary, will be in charge of vessel operation. World Maritime News Staff