China Merchants Energy Shipping (CMES), one of the world’s largest VLCC owners, is planning to sell more aged non-eco tankers as part of its long-term fleet strategy.
The Shanghai-listed shipowner revealed in a recent exchange filing that it would sell of some tankers with inferior fuel efficiency, without identifying the ships.
“The disposal would be in line for our fleet development [over the next five years] as we seek to meet new international decarbonisation rules and pursue green shipping,” said CMES, which owns over 50 VLCCs.
“Our intention is to further enhance our fleet composition and become more competitive in the oil shipping market.”
Regulators and environmentalists have been pressuring shipping companies to reduce greenhouse gas emissions, with new European Union and International Maritime Organization rules set to come into force in the coming years.
CMES, part of state conglomerate China Merchants Group, has been selling some of the oldest ships in its fleet in recent quarters.
Earlier this year, the company sold the 297,300-dwt VLCC tanker New Creation (built 2009) to Thenamaris for CNY 249m ($38.7m).
Brokers also reported the company disposed the 299,000-dwt New Century (built 2009) to unspecified interests for $31m.
The company was understood to have been seeking buyers for the 296,100-dwt New Talisman (built 2009) and 297,600-dwt New Coral (built 2010), but no deals were concluded.
CMES has 12 VLCCs built in 2010 or earlier in its fleet.
It is due to take delivery of six VLCCs from Dalian Shipbuilding Industry Co this year and next, two of which will be equipped with wind propulsion and air lubrication technology.
