On January 9, China Merchants Energy Shipping (CMES) released its “Announcement on Expected Increase in Performance for Fiscal Year 2025”.
The announcement disclosed that CMES is expected to achieve a net profit of 6-6.6 billion yuan (approximately US$859-945 million) in 2025, representing an expected increase of 893 million to 1.493 billion yuan (approximately US$128-214 million) compared to the previous year, with a year-on-year net profit growth of 17.00% to 29.00%. In the fourth quarter of 2025, the net profit attributable to shareholders of the listed company is expected to increase by 962 million to 1.562 billion yuan (approximately US$138-224 million) compared to the same period of the previous year, representing a growth of 55%-90%.
CMES expects to achieve a net profit attributable to shareholders of the listed company, excluding non-recurring items, of 5.005 to 5.605 billion yuan (approximately US$717-803 million) in 2025. This represents an expected increase of -10 million to 590 million yuan compared to the previous year, a year-on-year increase of -0.2% to 12%. In the fourth quarter of 2025, the net profit attributable to shareholders of the listed company, excluding non-recurring items, is expected to increase by 377 to 977 million yuan (approximately US$54-140 million) compared to the same period of the previous year, representing a growth of 22%-57%.
CMES stated that the main reasons for the expected increase in performance in 2025 include: the tanker fleet seizing market recovery opportunities, with operating profit in the fourth quarter expected to increase by 200-230% year-on-year.
Benefiting from various factors, the non-recurring income expected to be realized during the reporting period increased significantly. This mainly includes substantial gains from the disposal of older vessels and fair value gains from the acquisition of Antong Shipping shares in the third quarter (which will be accounted for using the equity method starting in the fourth quarter). Operating profits for the dry bulk and roll-on/roll-off fleets are expected to experience a temporary decline during the reporting period.
Data indicates that CMES, as a professional shipping company specializing in international cargo transportation, primarily engages in international hazardous materials shipping, energy sector investments and vessel leasing. It operates fleets of VLCCs (Very Large Crude Carriers) and VLOCs (Very Large Ore Carriers).