China Merchants Energy Shipping (CMES) is planing to order up to 10 Very Large Crude Carriers (VLCC) from three domestic shipbuilders.

The company's board approved the decision at its meeting held on Dec. 3, CMES said in a stock exchange filing.

CMES added it would unveil more details on the announcement once the contracts on construction of the energy saving tankers are signed. Potential value of the deal is expected to hit approximately US$920m.