CMES Names New Bulker Pacific Talisman

Image Courtesy: CMES

The Chinese state-owned shipping operator China Merchants Energy Shipping (CMES) has named its new bulk carrier Pacific Talisman at Dalian COSCO KHI Ship Engineering (DACKS).

Featuring a weight of 61,000 tons, the new bulker is equipped with energy saving technology, according to its owner.

With the new vessel, CMES’ bulk carrying fleet now stands at a total of 4.82 million dwt.

Just two weeks ago the company decided to further expand its carrier fleet by ordering ten 400,000 dwt very large ore carriers (VLOC) at three compatriot yards for a price tag of USD 850 million.

Eight of these vessels will be built by Shanghai Waigaoqiao Shipbuilding (SWS) and Qingdao Beihai Shipbuilding Heavy Industry, while the remaining two will be constructed by China Merchants Heavy Industry (Jiangsu).

The first newbuild from the batch is expected to join the company’s fleet in 2018.

CMES saw its net profit skyrocket by 476 percent, from RMB 200.26 million (USD 30.7 million) in 2014 to RMB 1.15 billion (USD 176.6 million) in 2015.

The main factors that contributed to a positive net profit were the strong tanker market experienced during the year, as well as the Chinese government’s subsidy, received in September for the disposal of aging vessels and the acquisition of new tonnage.

While the tanker market pushed the company into the black, CMES’ dry bulk shipping business remained sluggish due to the market downturn in 2015.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2018 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Singapore Maritime Week 2018

Singapore Maritime Week (SMW), organised annually by Maritime and Port Authority of Singapore (MPA) and attracts…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >