China Merchants Shipping (601872.SH) plans to build 6 new VLOC bulk carriers through its wholly-owned subsidiary.

Zhtng Cijng APP News: China Merchants Shipping (601872.SH) announced that, according to the company's fleet development plan, they will moderately develop and optimize the ship type and age structure of their bulk cargo fleet, consolidate and deepen cooperation with major clients, enhance the supply chain resilience, and improve the market competitiveness and sustainable profitability of the company's bulk cargo fleet. The company plans to sign a "Shipbuilding Agreement" with China Merchants Shipbuilding Industry Group Co., Ltd., a subsidiary of China Merchants Group, through a wholly-owned subsidiary to establish an overseas single ship company. They plan to build 6 new generation energy-saving and environmentally friendly 343,000-ton VLOC ore carriers, with a total investment amount expected not to exceed 4.93 billion RMB. The project vessels are scheduled to be delivered gradually from 2029 to 2030.