China Merchants Shipping will order 4 VLCCs

China Merchants Shipping plans to order 4 VLCCs, further consolidating its position as the world's largest VLCC shipowner.

On November 9th, China Merchants Shipping announced that during the 31st meeting of the 5th board of directors held on November 8th, the attending directors adopted a proposal to order 4 VLCCs through a registered vote, agreeing to order 4 VLCCs at a price not exceeding 85 million US dollars per ship, and authorizing the company's general manager or authorized personnel to sign relevant agreements in a timely manner.

It is understood that China Merchants Shipping is currently the world's largest VLCC shipowner, with 53 VLCCs. The latest under construction VLCC of China Merchants Shipping was delivered on November 8th, namely the 300000 ton VLCC "New Treasure" built by China Shipbuilding Industry Corporation. This is also the first VLCC designed and built by China Shipbuilding Industry Corporation to be equipped with a desulfurization system and certified through the desulfurization system inspection program of China Classification Society.

Adding the planned order of 4 ships, the fleet under China Merchants Shipping will have 57 VLCCs. China Merchants Shipping is continuously updating its fleet structure. After these four VLCCs are put into operation in the future, it will help maintain China Merchants Shipping's leading global VLCC shipowner position and market competitiveness, and enhance profitability.