China Merchants Energy Shipping Co., Ltd., a leading energy shipping company based in Shanghai, China, has recently announced a significant development in its operations. The company’s subsidiary, Associated Maritime Co. (Hong Kong), has secured a new order for ten Very Large Crude Carriers (VLCCs) from Dalian Shipbuilding Industry. These vessels, each with a capacity of 306,000 deadweight tonnage (dwt), are scheduled for delivery between March 2028 and June 2030. This order underscores the continuation of a long-standing partnership, as Dalian Shipbuilding Industry has previously constructed 57 ships for China Merchants Energy Shipping.
In its 2025 annual report, China Merchants Energy Shipping highlighted a robust performance in its oil-tanker division. The company reported a historic peak in freight earnings and operating returns, surpassing those of comparable Very Large Crude Carrier (VLCC) operators. The VLCC fleet achieved a Time Charter Equivalent (TCE) level that exceeded most of its peers, contributing to an overall operating income growth of nearly 12% from oil-tanker operations.
Financially, the company has confirmed a dividend plan for 2025, which includes a modest cash payment per share while maintaining a stable payout ratio. Additionally, the board has approved the renewal of a financial services agreement with China Merchants Group Finance Co. This extension, lasting another three years, aims to support the company’s liquidity and credit needs.
China Merchants Energy Shipping Co., Ltd. operates within the energy sector, focusing on the ocean shipping of crude oil, coal, iron ore, and liquid natural gas. The company trades on the Shanghai Stock Exchange, with a market capitalization of approximately 19.14 billion CNY as of March 26, 2026. Its stock has experienced fluctuations over the past year, with a 52-week high of 19.65 CNY on March 2, 2026, and a low of 5.74 CNY on April 7, 2025. The company’s price-to-earnings ratio stands at 26.64, reflecting its market valuation relative to earnings.
Founded with an initial public offering on December 1, 2006, China Merchants Energy Shipping continues to play a pivotal role in the global energy shipping industry, leveraging its strategic partnerships and operational expertise to maintain its competitive edge.
