中远海能定增事项迎新进展，公司于2025年7月18日收到上海证券交易所出具的《关于中远海运能源运 输股份有限公司向特定对象发行股票的交易所审核意见》，公司向特定对象发行股票申请符合发行条 件、上市条件和信息披露要求。上海证券交易所将在收到公司申请文件后提交中国证监会注册。 根据定增预案，中远海能计划募集资金总额不超过80亿元，其中45.98亿元用于投资建造6艘超大型油轮 (VLCC)，剩余资金用于投资建造2艘LNG运输船、3艘阿芙拉型原油轮。 历时半年，中远海能（600026）(600026.SH、01138.HK)80亿元定增终于获批。 日前，中远海能发布的公告显示，公司向特定对象发行股票事项获上交所通过，将进一步提交中国证监 会注册。 本次定增，中远海能拟募集资金总额不超过80亿元(含本数)，将用于投资建造6艘超大型油轮(VLCC)、2 艘LNG运输船、3艘阿芙拉型原油轮，合计投建11艘轮船。 目前，中远海能油轮运力规模世界第一，是全球船型最齐全的油轮船东，同时公司旗下的CLNG是国内 领先的大型LNG运输公司。 近年来，中远海能稳步提升运力，受益行业景气业绩也实现大幅增长。2024年，公司营业收入达23 ...

Core Viewpoint - China Cosco Shipping Energy Transportation Co., Ltd. (中远海能) plans to issue shares to specific investors, pending approval from the China Securities Regulatory Commission (CSRC) [1][2] Group 1: Share Issuance Details - The total amount to be raised from the share issuance is not more than 800 million yuan (approximately 800 million) [1] - The funds will be used for constructing 6 Very Large Crude Carriers (VLCCs), 2 LNG carriers, and 3 Aframax oil tankers [1] - The shares will be issued as domestic RMB ordinary shares (A-shares) with a par value of 1.00 yuan per share [2] Group 2: Investors and Subscription - The issuance will target up to 35 specific investors, including the indirect controlling shareholder, China Cosco Shipping Group [2][3] - China Cosco Shipping Group commits to subscribe for 50% of the shares issued [3] - All investors will subscribe in cash, and the shares will be issued through a competitive bidding process [3] Group 3: Regulatory and Compliance - The issuance is subject to approval from the CSRC, and the timeline for approval remains uncertain [1] - The shares subscribed by China Cosco Shipping Group will be restricted from transfer for 18 months post-issuance, while other investors will have a 6-month restriction [4] - The controlling shareholder structure will remain unchanged after the issuance [4] Group 4: Underwriting and Sponsorship - The lead underwriter for this issuance is Guotai Junan Securities Co., Ltd. [5]

Core Viewpoint - The company, COSCO Shipping Energy Transportation Co., Ltd., is planning to issue A-shares to specific investors in 2025 to fund the construction of new vessels, including 6 VLCCs, 3 Aframax oil tankers, and 2 LNG carriers, in response to growing global energy transportation demands and to modernize its aging fleet [5][6][8]. Group 1: Investment Projects - The fundraising project involves the construction of 6 VLCCs, 3 Aframax oil tankers, and 2 LNG carriers, with total investment planned to be funded entirely by domestic cash contributions [5][6]. - The construction of 6 VLCCs is expected to be completed by 2028, with 20% of the construction costs already paid and contracts in execution [7][8]. - The LNG carriers are projected to be delivered by 2027, with similar progress in contract execution and payment [7][8]. Group 2: Industry Trends - Global oil transportation demand is expected to grow due to economic recovery and geopolitical tensions, with an estimated 2.212 billion tons of oil trade in 2024 [8][9]. - The average age of VLCCs is increasing, leading to a significant need for fleet renewal, as the delivery of new vessels is insufficient to meet the demand for replacing aging ships [9][10]. - China's LNG import volume is projected to increase significantly, making it the largest LNG importer globally by 2024, which will drive demand for LNG transportation [10][11]. Group 3: Competitive Landscape - The company holds the largest fleet capacity in the oil transportation sector, but its VLCC fleet is aging compared to competitors like China Merchants Energy Shipping and Fredriksen Group [11][12]. - The company aims to enhance its competitiveness by expanding its LNG fleet, which currently ranks fourth globally, to meet the rising demand for LNG transportation [12][13]. - The company has established strong relationships with major clients in the oil and LNG sectors, ensuring stable demand for its services [13][14]. Group 4: Financial and Operational Considerations - The company has a high utilization rate of approximately 94% for its VLCCs and 98% for its LNG carriers, indicating effective operational management [15][16]. - The investment in new vessels is seen as necessary to maintain market leadership and improve profitability, especially in the context of increasing domestic oil transportation needs [21][22]. - The transition to a market-based operation model for LNG carriers is expected to provide more flexibility and responsiveness to market conditions, enhancing revenue potential [22][23].