U-Ming Marine Transport lost $19.79m in first quarter of 2016

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