On July 5, China Merchants Energy Shipping (CMES) released an announcement forecasting an increase in its interim results for the first half of 2026.
The announcement discloses that during the forecast period (January 1 to June 30, 2026), CMES expects to generate operating revenue of RMB 18.7 billion to RMB 20.6 billion (approximately USD 2.755 billion to USD 3.034 billion). This represents an increase of RMB 6.1 billion to RMB 8.0 billion (approximately USD 899 million to USD 1.178 billion) compared to the RMB 12.585 billion recorded in the same period of the previous year, marking a year-on-year growth of 48% to 63%.
Regarding profitability, CMES projects total profit for the first half of 2026 to range from RMB 7.7 billion to RMB 8.6 billion, a year-on-year increase of 208% to 244%. Net profit attributable to shareholders of the listed company is expected to be between RMB 6.6 billion and RMB 7.3 billion (approximately USD 972 million to USD 1.075 billion)—an increase of RMB 4.5 billion to RMB 5.2 billion (approximately USD 663 million to USD 766 million) over the RMB 2.125 billion recorded in the same period last year—representing year-on-year growth of 214% to 248%. Net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, is projected to reach RMB 6.54 billion to RMB 7.24 billion (approximately USD 963 million to USD 1.066 billion); this marks an increase of RMB 4.5 billion to RMB 5.2 billion compared to the RMB 1.906 billion recorded in the same period last year, reflecting year-on-year growth of 244% to 281%.
CMES stated that the projected significant growth in its semi-annual results is primarily driven by the international oil tanker shipping market entering a “super-boom” cycle—influenced by factors such as shifts in supply-demand dynamics and geopolitical tensions—which saw spot freight rates on certain routes hit record highs during the reporting period; meanwhile, the international dry bulk market benefited from a sustained improvement in supply and demand, leading to a steady recovery of the BDI.
Among CMES’s core business segments, the oil tanker fleet overcame short-term challenges in the second quarter, with profit contribution projected to rise by approximately 50% compared to the first quarter; the dry bulk segment saw its profit contribution grow by about 170% quarter-over-quarter. The container and Ro-Ro fleets also showed signs of recovery.
CMES emphasized that the figures in this forecast are based on preliminary calculations; the definitive financial data will be as presented in the company’s officially disclosed 2026 semi-annual report.
Data indicates that CMES, a specialized shipping company focused on international cargo transport, primarily engages in the international maritime transport of hazardous goods, energy sector investment, and vessel leasing, while operating fleets of VLCCs (Very Large Crude Carriers) and VLOCs (Very Large Ore Carriers).