China Merchants Energy Shipping (CMES) has firmed long-term charter deals for five multipurpose newbuildings， locking in another 422，500 dwt of capacity for its growing general cargo operation.

The Shanghai-listed owner has signed for three 84，500 dwt ships from CMB Financial Leasing and another two from China Merchants Financial Leasing. The initial three-year charter period will cost around RMB721m ($107m)， with CMES holding four further three-year extension options.

The vessels are scheduled to deliver across 2029 and 2030. CMES also has purchase options at the end of each charter period based on the ships’ book values.

The deal was initially approved by the company’s board in April and cleared by shareholders in May， with the latest filing confirming the charter contracts have now been signed. Both lessors are related parties.

CMES has earmarked the ships for the renewal and expansion of its general cargo fleet， with the larger multipurpose tonnage intended to lift carrying capacity across existing trades.