China Merchants Energy Shipping (CMES) has agreed to take over the dry bulk and LNG assets of former Sinotrans & CSC group firms as part of the intra-group restructuring of state conglomerate China Merchants Group.
Since China Merchants Group acquired Sinotrans & CSC to create China’s second-largest shipping group in 2017, there had been talks of further integration to limit intra-group competition but actual progress was slow.
