China Merchants Energy Shipping approves fleet optimization plan

China Merchants Energy Shipping (SSE:601872) announced the resolutions passed at the 21st meeting of its 7th Board of Directors, held on June 23, 2025. A key decision was the approval of a 2025-2026 fleet optimization plan. This allows management to dispose of older, less efficient vessels, including five "Chang Hang Jiang Ji" series ships, through methods such as demolition, negotiated transfers, or public listings. Furthermore, the board authorized the company's Singaporean subsidiary to acquire a relatively new second-hand bunker vessel at a price not exceeding the value assessed by a state-owned asset management institution. This acquisition aims to improve the company's bunker fuel supply capabilities in the Singapore market and ensure a stable supply for its fleet. All resolutions were unanimously approved by the attending directors.