China Merchants Energy Shipping (CMES) has announced that its affiliate company China VLCC has signed agreements with two Marshall Island-registered companies, Coral Shipowning and Medal Shipowing, under which China VLCC will sell a 297,600dwt VLCC to each of the two companies.

The total price for the two vessels is US$117.5m.

In addition, CMES said China VLCC has received a newbuild VLCC, New Constant, from DSIC.

China VLCC owns a fleet of 36 VLCCs and has another 17 on order.