China Merchants Energy Shipping (CMES) has entered into an agreement to construct a series of 154,000 DWT Suezmax dynamic positioning shuttle tankers (DPST).
The contract, signed through its subsidiary Haihong Steamship Hong Kong, includes one firm vessel and one optional unit with Dalian Shipbuilding Industry (DSIC).
The total agreement price for the two vessels is approximately CNY1.79 billion ($250.6 million). This project marks the entry of the company into the specialised DPST segment, a move intended to meet the deep-sea oilfield development requirements of its core clients.
The firm vessel is scheduled for delivery in 2028, with construction taking place at Dalian Shipbuilding facilities.
The tankers will feature DP2-class dynamic positioning systems, allowing for stable operations during offshore loading from floating production, storage, and offloading (FPSO) units in deep waters.
The investment is backed by long-term time charter agreements with an undisclosed client.
Payments will be made in five instalments aligned with construction milestones, including contract signing, steel cutting, keel laying, launching, and final delivery.
The CMES board of directors approved the project on December 5, 2025, noting that the new tonnage will diversify the fleet and provide a stable source of profit.
The company intends to establish a dedicated overseas subsidiary to manage the ownership and operation of the new vessels.
