China Merchants Energy Shipping (CMES) projects its operating revenue for the first six months of 2026 will range from RMB18.7bn ($2.60bn) to RMB20.6bn, representing a year-on-year increase of 48% to 63%.
Net profit attributable to listed shareholders is expected to reach up to RMB7.3bn, marking a striking year-on-year increase of 214% to 248%.
Commenting on the profit growth, CMES attributed the performance to multiple driving factors. Due to shifting market supply-demand dynamics and evolving geopolitical situations, the international tanker shipping market has entered a super boom cycle, with spot freight rates on certain routes hitting record highs during the reporting period.
Meanwhile, the international dry bulk market has maintained a steady recovery on the back of continuous improvements in supply and demand fundamentals, driving the Baltic Dry Index (BDI) steadily higher.
In terms of segment performance, the company’s tanker fleet built on its solid first-quarter performance and successfully eased short-term tanker oversupply pressure after the de-escalation of the Hormuz Strait blockade in the second quarter. The recent escalation in the region occurred outside of the reporting period.
CMES said that by seizing favourable market opportunities, the tanker business had delivered solid results, with its estimated profit contribution rising by approximately 50% quarter-on-quarter. The dry bulk segment’s results were an even greater improvement as its second-quarter profit contribution jumped around 170% quarter-on-quarter.
In addition, the company’s container and ro-ro shipping businesses registered a steady recovery trend, it said.
Looking ahead to 2026, CMES stated that it will further optimize its business structure. The company will prioritize tanker and dry bulk shipping as its dual core businesses, while fostering the growth of LNG, ro-ro and container shipping segments to build leading competitive edges in niche markets.