Tanker boom drives record profit; fleet and Antong deals expand shipping reach
First-half profit forecast surges 214-248% on tanker super boom China Merchants Energy Shipping guided first-half 2026 net profit to 6.6-7.3 billion yuan, up 214-248% year on year, as international tanker shipping entered a super boom cycle and some route freight rates hit record highs. Stronger earnings lift the shares because investors value the company on the cash its fleet generates.
The profit forecast is the core earnings driver behind the stock's move this period.
Orders five Aframax tankers for about 2.485 billion yuan The company signed contracts with Dalian Shipbuilding for five fuel-efficient Aframax tankers costing roughly 2.485 billion yuan, delivered 2029-2030. This grows and modernises the fleet, supporting future earnings, though the cash goes out years before the ships earn revenue.
A major capital commitment that shapes the company's long-term fleet capacity and earnings power.
Becomes largest shareholder of Antong Holdings, seeks control A subsidiary raised its Antong Holdings stake to 14.94%, and with concert parties to 24.84%, while proposing a board reshuffle to take control. Management calls it a strategic move to deepen core shipping and combine domestic and foreign trade capacity, logistics networks and customers.
Gaining control of another shipping firm is a strategic expansion that could add scale and coordination benefits.
Sector-wide profit forecasts confirm broad shipping and commodity upcycle Peer forecasts from Dongfang Shenghong, Tianshan Aluminum and others showed sharp first-half profit gains, echoing the same tanker and dry bulk strength. A rising tide across shipping and commodities supports sentiment toward 601872.CG, though it also signals the boom is widely shared rather than unique to the company.
Confirms the industry backdrop driving the company's earnings, while noting the cycle is broad, not company-specific.