U-Ming Marine

Taiwanese shipowner and operator U-Ming Marine Transport has reported a net loss of TWD 387 million in Q1 2020 due to coronavirus recession. U-Ming Marine Transport has reported an operating income of TWD 1.9 billion in Q1 2020. U-Ming Marine Transport has a positive outlook in dry bulk markets. According to U-Ming Marine Transport, coronavirus recession will soon diminish by the government’s stimulus packages and infrastructure investments which will increase the demand for raw materials. Currently, U-Ming Marine Transport has a diverse fleet of 48 vessels including new-building vessels. Recently, U-Ming Marine Transport ordered two (2) VLOC (Very Large Ore Carrier) new-buildings for Brazilian iron ore behemoth Vale. 9-June-2020

 

Taipei-based dry bulk shipowner U-Ming Marine Transport reported that the company returned to profit for 2017. In 2017, U-Ming Marine Transport reported net earnings of TWD 999.52 million. In 2016, U-Ming Marine Transport reported a net loss of TWD 878.35 million. Taiwanese dry bulk shipowner U-Ming Marine Transport reported revenue of TWD 8.5 billion in 2017 jump from TWD 6.5 billion in 2016. Taipei-based dry bulk shipowner U-Ming Marine Transport is paying up to $150 million to join the crowd participating in a vast VLOC (Very Large Ore Carrier) building program for Brazilian iron ore giant Vale. Two (2) VLOC (Very Large Ore Carrier) 325K DWT is going to cost around $75 million each at the Chinese Shipyard Qingdao Beihai Shipbuilding Heavy Industry. Taiwanese dry bulk shipowner U-Ming Marine Transport expects some $600 million in total earnings on a 25-year COA (Contract of Affreightment) with Vale. This contract is the biggest in Taiwanese shipowner U-Ming Marine Transport’s history. 29-March-2018

 

U-Ming Marine Transport, the Taiwan based dry bulk shipping company, announced a loss of $19.79 million in Q1 2016. Taiwanese U-Ming Marine Transport was in profit in Q1 2015. In February 2016, U-Ming Marine Transport ordered two (2) new building kamsarmax dry bulk carriers new-buildings at Japan shipyards for delivery in 2019 and 2020. Many shipowners still continue to order new buildings at the rock bottom prices in the dry bulk shipping market. 25-May-2016

 

Taiwanese shipowner and operator U-Ming Marine Transport sold 1999 built panamax bulk carrier 80K DWT MV Cemtex Diligence to a scrapyard for about $3 million. 7-September-2016