CMES signs up for methanol car carriers

Shanghai-listed China Merchants Energy Shipping (CMES) has signed up for up to six methanol dual-fuel car carriers worth around $597m.

The energy transport unit of China Merchants Group has inked a letter of intent with China Merchants Industry Holdings, one of the three leading shipbuilding groups in China, for two firm 9,000 ceu vessels for delivery by 2025 and four optional ships by 2026.

CMES said in a regulatory filing that the plan is to “seize market opportunities and further expand the fleet” in the international vehicle carrier sector.

Earlier this year, the company announced its intention to invest in more capacity and upgrade some existing roros suitable for ocean transport after securing long-term contracts with several first-tier manufacturers at home and abroad.

The 2009-built 4,900 ceu Chang Tai Hong, the largest ship CMES’ subsidiary, CSC Roro Logistics, currently owns, was recently modified and put into foreign trade operations. According to VesselsValue data, CSC Roro Logistics, also known as Guangzhou China Merchants RoRo Transportation, owns nine other small and mid-sized ships for domestic trade.