Subsidiary of China Merchants Energy Shipping (601872.SH) is participating in the West Mangdou project and intends to sign a "Long-Term Transport Agreement".

China Merchants Energy Shipping (601872.SH) announced that its wholly-owned subsidiary, Hong Kong Ming Wah Shipping Co., Ltd. (referred to as "Hong Kong Ming Wah"), as a key transportation service provider for the Simandou Project, has completed the transportation of approximately 600,000 tons of crucial minerals for the project. Based on their history of good cooperation, the China Mineral Resources Supply Chain Company, which has the maritime shipping rights for Simandou iron ore products, plans to sign a "Long-Term Transportation Agreement" with Hong Kong Ming Wah, with a contract period of 25 years. The Simandou Project is a large-scale, high-quality open-pit iron ore mining project located in the Kankan Province in southeast Guinea, West Africa. Currently, approximately 4.4 billion tons of high-grade iron ore (containing more than 65% iron) have been explored, and the total production capacity can reach 120 million tons per year once completed. The project is jointly developed by the government of Guinea, Simfer company, and Guinea Winning Alliance. In November 2025, the Simandou Project officially started production and began shipping iron ore. The signing of this contract is the first step for Hong Kong Ming Wah to deeply participate in the Simandou Project, laying a solid foundation for establishing a close cooperation and expanding mutually beneficial long-term partnership with the Simandou project owners. The signing of this contract also aligns with China Merchants Energy Shipping's development strategy, benefiting the company's self-driven development and quality improvement of its bulk carrier fleet, enhancing the company's market competitiveness and sustainable profitability, and is an important initiative for the company's sustainable development.