China Merchant Energy Shipping buys three VLCCs
China Merchant Energy Shipping (CMES) has placed a firm order for three VLCCs from CSSC Jiangnan Shipyard with an option for three more units, Seatrade Asia online reports.
The price tag for the new VLCC is estimated at $85m each. The first newbuilding is slated for delivery at the end of 2014 and the remaining two ships will be delivered at the first quarter and third quarter of 2015, respectively.
CMES had earlier posted a huge drop in 2012 net profit to RMB86m ($13.8m), down 47% compared to RMB162.52m in 2011.