<\/p>\n
China Merchants Energy Shipping (CMES) has agreed to acquire 70% of equity interest in Singapore-based bunker trader China Merchants Energy Trading (CMET) from a sister company China Merchants Hoi Tung.<\/strong><\/p>\n The tanker and oil shipping giant said the move was aimed at ensuring a sustainable supply of fuel oil and other oil products to its fleet.<\/p>\n The proposed purchase price is $16 million.<\/p>\n China Merchants Energy Trading was established in Singapore It was established as a 70:30 joint venture between China Merchants Hoi Once launched, the bunker business set out to trade 2 million tonnes of bunker fuel in With the acquisition of the remaining equity, CMES has taken full control of the business, making CMET its wholly-owned subsidiary.<\/p>\n The post CMES takes full control over Singapore bunkering unit<\/a> appeared first on Offshore Energy<\/a>.<\/p>\n world maritime news<\/p>\n","protected":false},"excerpt":{"rendered":" China Merchants Energy Shipping (CMES) has agreed to acquire 70% of equity interest in Singapore-based bunker trader China Merchants Energy Trading (CMET) from a sister company China Merchants Hoi Tung. The tanker and oil shipping giant said the move was aimed at ensuring a sustainable supply of fuel oil and other oil products to its …<\/p>\n","protected":false},"author":1,"featured_media":12793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[1594,371,1815,3624,142,2465,1188],"class_list":["post-12792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-bunkering","tag-cmes","tag-control","tag-full","tag-singapore","tag-takes","tag-unit"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/12792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=12792"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/12792\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/12793"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=12792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=12792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=12792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nin May 2016 and its focus has been trading of marine fuel oil and lubricating
\noils.<\/p>\n
\nTung Trading and CMES.<\/p>\n
\nSingapore, the world\u2019s biggest bunkering port.<\/p>\n