China Merchants Energy Shipping said on July 5 it expects 2026 1H net profit
attributable to parent of 6.6–7.3 bln yuan, a rise of 214%–248% YoY. The company
cited a super‑cyclical international tanker market driven by supply‑demand
shifts and geopolitical factors, with spot rates on some routes reaching record
highs. International dry bulk benefited from continued supply‑demand improvement
and a steady recovery in the BDI. Tanker operations extended strong Q1
performance and, after overcoming a post‑strait‑closure oversupply phase in Q2,
are estimated to have increased profit contribution by about 50% q/q. Dry‑bulk
profit contribution rose roughly 170% q/q in Q2. Container and ro‑ro fleets are
showing steady recovery trends.
