China Merchants Energy Shipping's Subsidiary Inks 25-Year Shipping Contracts Valued at No Less Than US$2.8 Billion

Stock News09-30

China Merchants Energy Shipping Co.,Ltd. (601872.SH) has announced that its wholly-owned subsidiary, Hong Kong Ming Wah, recently signed 25-year long-term transportation agreements with clients for six VLOC bulk carriers, with a total contract value estimated at no less than US$2.8 billion.

The company disclosed the development in a formal announcement, noting that the agreements cover the long-term chartering of the six very large ore carriers over a quarter-century period.

The deal represents a significant long-term commitment for China Merchants Energy Shipping Co.,Ltd. (601872.SH) and its subsidiary, reinforcing the company's position in the dry bulk shipping segment.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment