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China Merchants Energy Shipping Plans 1.5-Billion-Yuan Vessel Order

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China Merchants Energy Shipping (SHA:601872) proposed building a 210,000-deadweight-ton Newcastlemax bulk carrier and four 1,800 twenty-foot-equivalent-unit container vessels through a related-party transaction with China Merchants Shipbuilding Industry Group.

The total investment is estimated at 1.51 billion yuan, according to a weekend filing with the Shanghai bourse. Delivery is scheduled for 2028.

China Merchants Group controls China Merchants Energy Shipping and China Merchants Shipbuilding Industry Group.

Shares of China Merchants Energy Shipping were down 3% in recent trade.

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