Asia/Pacific News
New Chinese VLCCs to Drop Fuel Use 20%
China Merchant Energy Shipping (CMES) has ordered four new energy-saving very large crude carriers (VLCCs) that it expects will cut fuel consumption 20 percent compared with its existing vessels, industry news site Shipbuilding Tribune reports.
The ships, ordered from Chinese shipyards Dalian Shipbuilding Industry Company (DSIC) and Shanghai Waigaoqiao Shipbuilding Co. Ltd., are due for delivery between April 2016 and January 2017.
CMES signed contracts with the two shipyards in February to build six VLCCs and exercised options for four additional vessels in early August, at an estimated cost of $85 million per vessel.
In addition, the shipping company has decided to add 12 handymax bulk carriers to its fleet, a move that Seatrade Global reports is aimed at optimising its fleet of bulk carriers.
CMES had a net loss of RMB137.49 million ($22.41 million) in the first half of 2013 after making a RMB82.72 million profit in the same period of 2012.
Shipowners' growing interest in fuel efficiency has created a challenge for many Chinese shipyards in recent years.
