China Merchants Energy Orders Six 343,000 DWT VLOCs

exceed RMB 4.93 billion. The new bulk carriers are designed as next-generation, energy-efficient, and environmentally friendly ships. Delivery is scheduled to take place progressively between 2029 and 2030. The order aligns with China Merchants Energy's fleet development strategy to optimize vessel types and ages, strengthen cooperation with major clients, and enhance the competitiveness and profitability of its dry bulk fleet. The transaction, classified as a related-party deal due to common control by China Merchants Group, has passed internal audit and independent director reviews. It will be submitted for shareholder approval at an extraordinary general meeting on 28 July 2026, with related shareholders abstaining from voting. Payments will be made in installments based on shipbuilding progress, using a combination of company funds and financing.