U-Ming orders capsize brace in China

Taiwanese shipping company U-Ming Marine Transport is significantly enhancing its operational capabilities by ordering two new capesize bulk carriers from Qingdao Beihai Shipbuilding in China. The vessels, each with a deadweight tonnage of 180,000, are expected to be delivered by 2028. U-Ming has committed between $75 million and $79 million for each of the new builds, further solidifying its position in the maritime transport sector.

Fleet Growth and Future Plans

U-Ming Marine Transport, a subsidiary of the Far Eastern Group, currently owns and operates nearly 80 vessels. This diverse fleet includes bulk carriers alongside various other types of ships, such as Very Large Crude Carriers (VLCC), Long Range 1 (LR1) tankers, cement carriers, and crew transfer vessels. The company has been actively investing in its fleet expansion in recent months. In addition to the latest order for capesize bulkers, U-Ming has also recently finalized contracts for two ultramax bulkers at Oshima Shipbuilding and is in discussions for up to four capesize vessels at Hengli Heavy Industry.

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This strategic move to expand its fleet comes at a time when demand for bulk shipping services is on the rise. By investing in larger and more efficient vessels, U-Ming aims to enhance its competitive edge in the industry. The new additions are expected to play a crucial role in meeting the growing requirements of global shipping markets, allowing U-Ming to better serve its clients and strengthen its operational footprint worldwide.