中远海能2025 半年度报告

̒జѓܓϋ 2 6 16 18 27 29 49 51 53 57 59 1. LNGLPGLNG 1) 2) 3) 4)IMO(SOLAS)(MARPOL)(MLC) 1)-VLCCSuezmaxAframax2LR2(Panamax)1(LR1)MR 2)LNGLNG-1621/600LNGLNGLNG 3)LPGLPGLPG 4)-IMO 12 3 2. LNG 20256 301572,344.818296.1COACOAPOOLPOOLCHINA POOL LNGLNGLNG50%CLNGLNG20256 3087LNGLNG52876.3LNG35628.51LNG17.4LNGLNG LPGLPGLPG20256 30LPG1212.618.3LPG21.5 20256 3087.322.1 - LNGLPG 1. 2025OPEC+422047137OPEC+EIA158EIA66 42%35012% VLCCClarksons2025VLCC2220256VLCC104VLCC11.5% 2025VLCC2025VLCCTD3C-TCE40,3702%41% Kpler4.5%8% LR2/AframaxMRClarksons2025LR2/AframaxMR31362.6%2.0%5420256LR2/AframaxMR20528817.3%16.0% 2025LR2TC1-TCE29,63647% 2. 2025MR4,70011%35600 3.LNG 2025LNG2.081.7%66,19613.7%LNG5,61234.4%LNGPlaquemines LNGCorpusChristi LNGLNG5,12119.6% LNG728LNG47%6LNG710LNG(FSRU)(FSU)(FLNG) LNG70%LNG2027 4.LPG 2025LPG2025-2026LPG1,400-1,600LPG10%20253(PDH)256 2025LPGLPGLPG272.788.3% 5. 2025 Drewry2025202561,457202418 20256 301572,344.887LNG52LNG876.31LNG17.412LPG12.687.3 20259,44813.1%3,42718.8%115.72.5%89.110.9%9.318.929.0%61.0%(EBITDA)50.712.5% 2025 LNGLNG 1. 2. (1) 202572.95.5%3.3%13.048.9%42.9%17.9%15.25.7 1)VLCC20%COA 2)-3) (2) 202527.45.5%6.76.9%24.4%0.4 1) 2) (3)LNG 2025LNG4.245.7% 1)2LNGLNG 2)LNGLNGLNG (4)LPG 2025LPG1.426.5%0.321.3%21.0%0.9 1)VLGC 2) 3)2024 (5) 20251.613.1%0.47.0%26.7%5.0 COA 1. (1)(2)(3)VLCC 2.LNG (4) 218.239.314.8%6.333.9% 2. (1) 3,079,612,0003,692,453,00017% (3) 7,655,589,0001,993,855,00035.22% 75%3% 1,284,044609,630 1,275,334883,802 (6) 651,049,0004,660,599,000669,044,0004,809,357,000 SOFR1.66%SOFR2.45%SOFR1.66%SOFR2.45% 88,108202,052 (7) 35366423,209,621,00024,587,972,0004,464,559,0003,110,012,000 14,438,925,00016,986,862,0002,208,428,0002,579,198,000416,953,000143,768,000 (8) (a)4LNGLNG8,200,00058,701,000 (b)LNG276,120,0001,976,635,0006,400,00045,815,0004,500,00037,811,000 (c)LNG3377,500,0002,702,372,00012248,891,0001,781,713,000 (9) (10) 14.65 1. (1) 2025VLCC IEA2025OPEC+OPEC+ OPEC+VLCCOPEC+ VLCC5SuezmaxAframax/LR2 MR1830672.7%2.5%3.7% VLCCOPEC+IMO83(MEPC 83) (2) 2025 (3)LNG 2025LNGPlaquemines LNGCorpus ChristiLNGGolden Pass LNG2025(IEEFA)20253,70062 LNGLNG2025(FID)LNG (4)LPG Drewry(OPEC)1.4%1.745LPG10-15%VLGCVLGC LPG2.6%5,000-9,500 (5) 2025203-56 2. 2025 (1) (2) LNGLNGLPGCOA (3) (4) IMO (5) (6) 1. (1) (2) (3) (4) (5) 13.51B(1) 2. XV233365% (1)AAHHL(2)4,770,776,3951,296,000,000H3,474,776,395A(3)1,536,924,595A679,147,759AA19.55%14.24%2,216,072,354(4)XV23PacificAsset Management Co., Ltd.116,986,000H XV23336 3. 4. XV352C3 (1) (1)AAHH(2)L(3)4,770,776,3951,296,000,000H3,474,776,395A (2) (1)AAHH(2)L(3)15,489,754,7392,879,819,500H12,609,935,239A13,309,607,1123,528,899,000H9,780,708,112A28,724,292A3,874,248,0001,465,971,429(4)2,000H8,000ASONG Jianfang10,000 XV352 5. 6. 202310722,309,60013.00A244,635,80012.09A 757 20244 22G. 1315% (1)(2)4,770,776,395 (1)20256 30(2)20254 29(3)(4)(i) 33%2436(ii) 33%3648(iii) 34%4884M.(5)(i)(ii)1%(iii) 26,945,400A 7. 8. 9. C1 10. 2410 11. C1 12. C1 13. 14. 15.C3 C3 16. 8,21816.3 17. 2025 18. https://energy.coscoshipping.com 19.A AH1,431,232,918A3535A A AA 20. 21. 5% 22. (1)A A (2) 5050 (3) (i)(ii)(iii) 511083434 2410 34 2.1 P06614 58 9 121314151617182321 16192020212222 1. 188A-1015670 (1)(2)(3)(4)LNG(5)LPG(6) H 2. 2.1 34D2 LPG 1.(i) 100%(ii) 100% 2.70%87% (i)China Shipping Chemical Carrier Co., Ltd.*ShanghaiCOSCO SHIPPING Chemical Carrier Co., Ltd.* (ii)Shanghai COSCO SHIPPING (Hong Kong) Co., Ltd.COSCO SHIPPING Energy Chemical Carrier (Hong Kong) Co., Ltd.* 1,050,341,000 2. 2.1 32 2.2 2. 2.2 21 3. 4. (1) (2) 4. (2) 4. (3) (1) 4. (3) (2) 5. (i)(ii) (1) (2)LNG(3)LPG(4) 5. 5. 15 LNGLPG 5. LNGLPG29,790,835,00030,894,347,00015,493,384,00015,851,670,000466,665,000476,894,000812,126,000831,394,000 5. 6. 7. 2.25%6.19%2.60%7.03% 8. (a) (a) 9. 25%25% 9. 7.515% 10. (1) 10. (2) 11. 0.21 0.22 12. 12. 30 13. (1) 165,577,000687,000 13. (2) 1,939,329,0001,475,094,000 14. 14. TRADEGO20% 14. 14. 15. 15. 15. 15. 16. (i)(ii) 16. (i)SOFR2.26%6.70%6.50%(ii)SOFR1.56%3LIBOR0.80%0.50% 17. (1) (2) 18. (1) (2) 18. (3) 19. 20. 23. 651,049,0004,660,599,000669,044,0004,809,357,000 SOFR1.66%SOFR2.45%SOFR1.66%SOFR2.45% 24. 24. 35366423,209,621,00024,587,972,0004,464,559,0003,110,012,000 14,438,925,00016,986,862,0002,208,428,0002,579,198,000416,953,000143,768,000 25. 25. (i)LNG26,315,00028,428,000LNGSOFR2.26%6.70%SOFR2.26%6.70%20 569,424,000582,979,000SOFR2.45%4.80%SOFR2.45%4.80%15 (ii)SOFR2.45%4.80%SOFR2.45%4.80%15 (iii)LNGLNGLNGSOFR2.26%6.50%SOFR2.26%6.50%20 (iv)1,426,785,0001,500,000,0001,042,789,0001,047,304,000(LPR)1.55%LPR1.55% 26. 27. 28. H1A1 29. (1)LNGLNG4LNGLNG8,200,00058,701,000 (2)LNG276,120,0001,967,635,0006,400,00045,815,0004,500,00037,811,000 (3)LNG3377,500,0002,702,372,00012248,891,