China CSSC to build 10 Massive Oil Tankers for CMES
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China CSSC Holdings announced it will construct 10 very large crude carriers (VLCCs) for China Merchants Energy Shipping in a deal valued at approximately CNY8.6 billion (USD1.2 billion). Despite a market downturn, China CSSC's shares rose 1% to CNY30.84. The vessels, built by Dalian Shipbuilding Industry, are set for delivery between 2028 and 2030 and will feature next-generation designs that meet global environmental standards. China Merchants Energy Shipping, the largest VLCC owner, operates 51 VLCCs and reported significant revenue from its tanker fleet.
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