Taipei-based dry bulk shipowner U-Ming Marine Transport is set to equip its 2020 Very Large Ore Carrier (VLOC), the 324K DWT MV Grand Pioneer, with innovative rotor sails to harness wind power. This initiative involves the installation of four 35-meter high spinning towers on the vessel. U-Ming Marine Transport, a prominent Taiwanese shipowner and operator, is adopting wind propulsion solutions to enhance fleet efficiency, reflecting its commitment to sustainable maritime practices. The dry bulk operator U-Ming Marine Transport plans to fit the MV Grand Pioneer with four 35-meter high Flettner rotor sails from the UK/Greek firm Anemoi Marine Technologies by the end of 2025. These rotor sails, which can be folded during berthing and cargo operations, represent a significant advancement in reducing fuel consumption and lowering emissions. The adoption of such technology is part of U-Ming Marine Transport’s broader strategy to lead in environmental sustainability within the shipping industry. Taipei-based dry bulk shipowner U-Ming Marine Transport, part of the Far Eastern Group, is one of the leading dry bulk shipping companies in Taiwan. Established in the early 1980s, the company has grown significantly and now operates a diverse fleet that includes bulk carriers, tankers, and container ships. U-Ming’s fleet is strategically utilized to transport a wide range of commodities such as coal, iron ore, grains, and other bulk cargoes worldwide. Taipei-based dry bulk shipowner U-Ming Marine Transport has a strong focus on innovation and sustainability, constantly exploring new technologies and practices that can reduce the environmental impact of its operations. U-Ming Marine Transport’s commitment to sustainability is not just about compliance with global regulations but is also driven by a desire to improve operational efficiency and reduce operational costs. U-Ming Marine Transport has invested heavily in modernizing its fleet with eco-friendly ships equipped with the latest green technologies such as ballast water treatment systems, low-emission engines, and now, rotor sails. These investments reflect U-Ming’s proactive approach to addressing the challenges of environmental sustainability in the maritime sector. In addition to its technological advancements, U-Ming Marine Transport places a strong emphasis on crew welfare and safety. The company implements rigorous training programs and adheres to strict safety protocols to ensure that its operations not only meet but exceed industry standards. U-Ming Marine Transport’s strategic initiatives and commitment to sustainability have positioned it as a leader in the global shipping industry. As the company continues to innovate and adapt to the changing needs of the global market, it remains focused on delivering high-quality, efficient, and environmentally responsible transportation solutions. 4-December-2024
Taiwan’s Chailease Holdings has commissioned ultramax bulk carriers from Chinese shipyard New Dayang Shipbuilding. Through its Taipei-based shipowning subsidiaries, Chailease Holdings has ordered two Crown 63 Plus design ultramax bulk carriers for $35 million each, with deliveries scheduled for 2028. This makes Chailease Holdings the second Taiwanese company to engage New Dayang Shipbuilding for ultramax newbuilds, following the earlier 2024 orders by U-Ming Marine Transport. The latter, a prominent Taipei-based dry bulk shipowner, is known for its extensive fleet and strategic investments in modern, efficient vessels tailored for global commodity transportation. New Dayang Shipbuilding, acquired by the state-run machinery manufacturer Sumec Group in 2018, has accumulated orders for Crown 63 Plus ultramax bulk carriers from various leasing houses and shipowners, bringing its current order book to over 100 vessels. U-Ming Marine Transport, with a well-established reputation in maritime logistics, emphasizes environmental sustainability and operational efficiency in its shipping solutions. The company’s partnership with New Dayang Shipbuilding is part of its broader strategy to enhance its fleet with newer, more environmentally friendly ships to meet the growing demands of the international shipping market. 2-December-2024
Taipei-based dry bulk shipowner U-Ming Marine Transport is augmenting its fleet with a new series of ultramax bulk carriers at New Dayang Shipyard. The initial two batches of these 64K DWT ultramax bulk carriers were priced at $34 million each, though no financial details or delivery dates for the latest vessels have been released. These new ships will also be LNG fuel-ready, mirroring the specifications of the earlier ordered newbuilds. New Dayang Shipyard, acquired by Sumec Group in 2018, has secured several orders for the Crown 63 Plus ultramax bulk carriers in 2024. To date, approximately 120 ultramax bulk carriers of this design have been delivered, with about 80 more currently on order. As a subsidiary of the Far Eastern Group, U-Ming Marine Transport has committed to four more vessels of the Crown 63 Plus design, as disclosed by the shipbuilding division of the state-run Sumec Group during the naming ceremony of one of the four ultramax bulk carriers U-Ming Marine Transport commissioned in 2022. Currently, U-Ming Marine Transport, a prominent Taiwanese shipowner and operator, manages a fleet exceeding 70 vessels, including those under construction and in joint ventures. While primarily focused on bulk carriers, U-Ming Marine Transport’s operations also extend to the VLCC (Very Large Crude Carrier), cement carrier, and crew transfer vessel segments. Established in 1984, U-Ming Marine Transport has grown to become one of Taiwan’s leading shipping companies, specializing in the global transport of dry bulk commodities such as coal, iron ore, grains, and cement. The company is known for its commitment to environmental sustainability and has been actively investing in green shipping technologies. This includes the adoption of LNG propulsion to minimize emissions and meet stricter global emission standards. U-Ming Marine Transport’s strategic expansion and modernization of its fleet underscore its proactive approach to both enhancing its operational efficiency and reducing its environmental footprint. This forward-thinking strategy is part of a broader initiative to align with international shipping’s gradual transition to more sustainable practices. 15-October-2024
The shipowner and operator based in Athens, Alassia Newships Management Inc., along with the Japanese trading company Itochu Corp, have entered into a partnership for a newbuilding contract of a 40K DWT handysize bulk carrier at Nakanishi Shipbuilding. Alassia Newships Management Inc and Itochu Corp are scheduled to receive this handysize bulk carrier newbuilding in the second quarter of 2026. Earlier in 2024, Itochu Corp gained attention for contracting two ultramax bulk carriers at the Chinese New Dayang Shipyard, and it has also collaborated with the Taipei-based dry bulk shipowner U-Ming Marine Transport for the joint ownership and operation of ammonia dual-fuel ultramax bulk carriers. Alassia Newships Management Inc., a Greek shipowner and operator, currently has eight bulkers in its ownership and three more under construction, with expected deliveries in the fourth quarter of 2024 and the first quarter of 2025 from Oshima Shipbuilding Co. Ltd. 25-June-2024
Taiwanese shipping company U-Ming Marine Transport has entered into a Memorandum of Understanding (MoU) with the Japanese conglomerate Itochu to co-own and manage ammonia dual-fuel bulk carriers. This collaboration is a component of Itochu’s initiative aimed at reducing greenhouse gas emissions through the development of ammonia-fueled vessels and the creation of an international ammonia supply network with collaborative industry efforts. As of 2018, emissions from global maritime activities were estimated to represent about 2.1% of worldwide greenhouse gas emissions. In response, the International Maritime Organization (IMO) has launched the 2023 IMO GHG Reduction Strategy, targeting net-zero greenhouse gas emissions by the year 2050, with ammonia being a promising alternative fuel to achieve these objectives. The partnership also focuses on researching and applying additional methods to reduce maritime emissions, including the adoption of other alternative fuels such as methanol and integrating energy-efficient technologies. U-Ming Marine Transport, headquartered in Taipei and a leader in the dry bulk shipping sector, is also exploring the potential benefits of integrating rotor sails, carbon capture systems, and converting existing oil-fueled engines to methanol dual-fuel systems across its fleet. These measures are poised to significantly lower the environmental impact of U-Ming Marine Transport’s operations. With a diverse fleet of 72 vessels, including capesize, panamax, post-panamax, supramax, ultramax, cement carriers, very large crude carriers (VLCCs), very large ore carriers (VLOCs), and crew transfer vessels (CTVs) for offshore wind projects, U-Ming Marine Transport is actively contributing to the advancement of sustainable practices within the maritime industry. 22-March-2024
Taipei-based dry bulk shipowner U-Ming Marine Transport two (2) more ultramax bulk carriers newbuildgs at New Dayang Shipbuilding. The total number of ultramax bulk carriers newbuildgs that U-Ming Marine Transport has ordered increased to four (4). Taiwanese shipowner and operator U-Ming Marine Transport’s demand for bulk carriers continues unabated with the addition of two (2) more ultramax bulk carriers to U-Ming Marine Transport’s growing list of newbuilding orders. In March 2022, Taiwanese shipowner and operator U-Ming Marine Transport received a $50 million loan from ANZ Bank. Taipei-based dry bulk shipowner U-Ming Marine Transport will use the funds for the fleet renewal program. Including the latest order, Taiwanese shipowner and operator U-Ming Marine Transport has ordered a total of 15 newbuilding bulk carriers. Currently, Taiwanese shipowner and operator U-Ming Marine Transport received operates around 60 ships. 3-September-2022
Taiwanese shipowner and operator U-Ming Marine Transport received a $50 million loan from ANZ Bank. Taipei-based dry bulk shipowner U-Ming Marine Transport will use the funds for the fleet renewal program. In Q4 2022, U-Ming Marine Transport will take the delivery of eleven (11) new environmental-friendly bulk carriers. Taipei-based shipowner and operator U-Ming Marine Transport want to guarantee the charterers that the company’s objective is to operate an environmental-friendly fleet. U-Ming Marine Transport has been engaged in making substantial investments in environmental targets. U-Ming Marine Transport strives to be a leader in the dry bulk market with an environmental-friendly fleet. ANZ Bank supports green financing. Australian ANZ Bank has initiatives to assist the shipping companies like U-Ming Marine Transport to decrease the gas emissions to net-zero. Taiwanese shipowner and operator U-Ming Marine Transport can make a substantial impact via the company’s sustainability agenda in the shipping industry. In February, Singapore-based OCBC Bank granted a $70 million sustainability-linked loan to Taipei-based dry bulk shipowner U-Ming Marine Transport. The $70 million loan is structured so that U-Ming Marine Transport will enjoy interest rate reductions if the company fulfills pre-agreed emissions targets. Currently, Taiwanese shipowner and operator U-Ming Marine Transport received operates around 60 ships. 15-March-2022
Taiwanese shipowner and operator U-Ming Marine Transport exercised two (2) 100K DWT post-panamax bulk carrier new-building options at Oshima Shipbuilding. U-Ming Marine Transport is paying $37 million each for the post-panamax bulk carrier new-building. U-Ming Marine Transport ordered has ordered ten (10) vessels for around $610 million. U-Ming Marine Transport. Taiwanese shipowner and operator U-Ming Marine Transport is going to deploy 100K DWT post-panamax bulk carriers to carry coal for Taiwan Power Company. Besides post-panamax bulk carrier new-buildings, U-Ming Marine Transport exercised its options for four (4) 210K DWT newcastlemax bulk carrier new-buildings at Qingdao Beihai Shipbuilding Heavy Industry. U-Ming Marine Transport is paying $50 million each for the newcastlemax bulk carrier new-building. Furthermore, U-Ming Marine Transport has four (4) 190K DWT capesize bulk carrier new-buildings at Shanghai Waigaoqiao Shipbuilding. U-Ming Marine Transport is paying $65 million each for the dual-fueled capesize bulk carrier new-building. Currently, public-listed Taiwanese shipowner and operator U-Ming Marine Transport owns and operates a fleet of 45 vessels. 24-May-2021
Taiwanese shipowner and operator U-Ming Marine Transport ordered two (2) newcastlemax bulk carrier new-buildings with two (2) options at Qingdao Beihai Shipbuilding Heavy Industry. U-Ming Marine Transport is paying around $50 million per newcastlemax bulk carrier. Qingdao Beihai Shipbuilding Heavy Industry raised newbuilding price tags due to increasing materials and weak dollar. However, U-Ming Marine Transport commenced the newbuilding newcastlemax bulk carrier discussions with the shipyard in the autumn, before newbuilding price tags increased. Taipei-based dry bulk shipowner U-Ming Marine Transport has been renewing the fleet. Recently, U-Ming Marine Transport sold 2003 built capesize bulk carrier 175 K DWT MV Cape Mars for around $10 million. U-Ming Marine Transport endeavors to dispose of more vintage bulk carriers. In October 2020, U-Ming Marine Transport took delivery of 2020 built VLOC (Very Large Ore Carrier) 325K DWT MV Grand Pioneer and MV Grand Wisdom from Qingdao Beihai Shipbuilding Heavy Industry. In November 2020, U-Ming Marine Transport ordered four (4) dual-fuelled 190K DWT newbuilding bulk carriers at Shanghai Waigaoqiao Shipbuilding. 30-January-2021
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