U-Ming Marine

Taiwanese shipowner and operator U-Ming Marine Transport and Xiamen ITG Group established a bulker joint venture which is called ITG-Uming Shipping in 2018. Now, Taipei-based dry bulk shipowner U-Ming Marine Transport is acquiring more new shares in ITG-Uming Shipping for around $20 million. ITG Group invests a somewhat more substantial amount in ITG-Uming Shipping. ITG-Uming Shipping provides shipping services across the Taiwan Strait to China. Initially, instead of owning bulk carriers, ITG-Uming Shipping is going to charter in Chinese-flag handysize to panamax bulk carriers. ITG-Uming Shipping is going to focus on Chiense coastal trading. Eventuality, ITG-Uming Shipping plans to develop worldwide dry bulk business. Shanghai-listed Xiamen ITG Group is a public arm of Xiamen Municipal Government. Currently, Taipei-listed dry bulk shipowner U-Ming Marine Transport operates 37 ships, and Xiamen ITG Group has a fleet of 19 ships. 14-December-2020

 

Taiwanese shipowner and operator U-Ming Marine Transport is trying to sell 2003 built capesize bulk carrier 175K DWT MV Cape Mars for demolition. MV Cape Mars is the second oldest capesize bulk carrier in the fleet of U-Ming Marine Transport. MV Cape Mars was built at CSBC Shipyard and has been operating in U-Ming Marine Transport’s fleet since 2003. Additionally, Taiwanese shipowner and operator U-Ming Marine Transport is anticipated to sell sistership 2003 built capesize bulk carrier 175K DWT MV Cape Saturn for demolition. U-Ming Marine Transport has been in a fleet renewal programme. Lately, U-Ming Marine Transport took delivery of 2020 built VLOC (Very Large Ore Carrier) 325K DWT MV Grand Pioneer from Qingdao Beihai Shipbuilding Heavy Industry. MV Grand Pioneer ordered on the back of a long-term contract with Vale. Currently, U-Ming Marine Transport has fleet of 16 bulk carriers. 28-October-2020

 

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

 

Taiwanese shipowner and operator U-Ming Marine Transport has ordered two (2) 100K DWT post-panamax bulk carriers at Japanese shipyard Oshima Shipbuilding for around $37 million each. Taipei-based dry bulk shipowner U-Ming Marine Transport has become the latest Taiwanese shipowner and operator to order Japanese newbuilding bulk carriers. U-Ming Marine Transport has ordered two (2) 100K DWT post-panamax bulk carriers via trading house Sumitomo Corporation. Taiwanese shipowner and operator U-Ming Marine Transport planned to replace existing bulk carriers. U-Ming Marine Transport has been a regular customer of Japanese shipyard Oshima Shipbuilding. At the beginning of 2019, Taipei-listed dry bulk shipowner and operator U-Ming Marine Transport took delivery of the 82K DWT MV Cemtex Diligence. Furthermore, U-Ming Marine Transport ordered two (2) 325K DWT ore carriers at Qingdao Beihai Shipbuilding Heavy Industry. 17-November-2019

 

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