China Merchants Energy Shipping (CMES) is extending beyond its traditional deep-sea crude transport stronghold and entering the shuttle tanker (DPST) segment—one of the most “project-driven” and capability-intensive niches in tanker shipping.

According to CMES’ latest board resolution, the company has approved the newbuilding of 1+1 Suezmax DP shuttle tankers and the signing of a long-term transportation agreement. In other words, this is not a pure cycle bet—it is a “contract-backed newbuilding” strategy designed to lock in utilisation and cashflow visibility.
What the market is saying

TradeWinds and industry sources indicate the vessels could be ~154,000 dwt DP2 newbuilds, potentially at DSIC (Dalian Shipbuilding), tied to long-term employment linked to CNOOC and offshore operations in South America. While CMES has not disclosed the yard or charterer in its announcement, the direction is clear: CMES is positioning itself for offshore-linked crude logistics, not just trading lanes.

Shuttle tankers are not “just another tanker type.” They serve FPSOs and offshore fields, operating in harsher environments and more complex loading conditions. The competitive moat is built on DP redundancy, HSE standards, crew competence and project execution. That is why shuttle tanker earnings often come from longer-duration contracts and stronger client stickiness—closer to infrastructure-style logistics than spot-market trading.

China has already demonstrated capability in this space. DSIC delivered the “NS Pioneer”—a large DP shuttle tanker built to stringent Petrobras specifications for Brazil’s deepwater fields—highlighting that Chinese yards can compete again in high-standard DP shuttle tanker construction.

This shift is also playing out among international tanker leaders. Maran Tankers moved into shuttle tankers via newbuildings and later acquired Altera Shuttle Tankers, taking over an established fleet and operating system across Brazil, the North Sea and Canada—then integrating these assets under Maran Shuttle Tankers. The message: in shuttle tankers, operational capability and project systems matter as much as steel.

For a VLCC powerhouse, entering DP shuttle tankers signals an upgrade from “scale in crude shipping” to capability-led, project-based energy transportation. Against the backdrop of China Merchants Group’s accelerated “Third Venture” agenda, this kind of move also aligns with a broader theme: expanding from capacity growth toward higher-entry-barrier, replicable service capability.
I will be watching the next disclosures closely—yard confirmation, charter structure, project location, delivery timeline—because those details will determine how quickly CMES can build (or acquire) the full offshore-grade operating system that shuttle tankers demand.

Please Contact Us at：

media@xindemarine.com