U-Ming Marine

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 (20 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