Chinese chemicals and energy group Jiahua Energy is moving into shipowning with an order for a 35，000 cum carrier from CIMC Sinopacific Offshore & Engineering.

The company has capped total investment in the vessel and pre-operating costs at CNY750m ($111m). Jiahua subsidiary Meifu Port & Storage will fund 60%， with three partners covering the balance through newly established Jiamei Shipping.

Delivery is scheduled by the end of 2029.

The vessel will initially serve Zhejiang and other Chinese coastal trades， primarily under long-term contracts of affreightment.

Jiahua currently operates terminal and storage assets but owns no ships. The newbuilding is intended to add coastal transport capacity， increase throughput at the company’s terminals and reduce raw-material logistics costs.