U-Ming Marine Transport Corporation, 29th Fl. , Taipei Metro Tower, 207, Tun Hwa S. Road , Sec. 2, Taipei, Taiwan, R. O. C, Taipei (2026)

28/07/2025

In response to the United Nations World Oceans Day on June 8, U-Ming Marine 's Sustainability Committee is organizing an Ocean Knowledge Challenge from June 7 to 12, 2024. This engaging and educational event will cover topics such as marine knowledge and the challenges that climate change poses to maritime navigation. The aim is to encourage employees to pay attention to ocean environmental issues and relate them to their personal and professional experiences.

For the third consecutive year, U-MING has responded to the United Nations World Oceans Day on June 8. From June 6 to 12, 2025, the U-MING Corporate Sustainability Committee hosted an Ocean Knowledge Challenge to celebrate the occasion. This year’s activity was inspired by the UN-designated theme, “Wonder: Sustaining What Sustains Us”, and invited all employees to explore the deep connection between the ocean, our industry, and daily life.

The challenge focused on the relationship between the shipping industry, natural capital and ecosystem services, highlighting how maritime operations rely on healthy ocean systems. Through this interactive initiative, employees were encouraged to reflect on ocean-related environmental issues and connect them with their personal experiences and professional roles.

U-MING is committed to reducing the negative impacts of shipping on natural capital and biodiversity. The company has implemented the ISO 14001 Environmental Management System and complies with regulations related to ballast water and biofouling management to help maintain healthy marine ecosystems. Moving forward, U-MING will continue to take concrete actions to fulfill its commitment to ocean conservation and sustainable development.

25/07/2025

On July 24, U-Ming Marine Transport Corporation announced that its 64K bulk carrier, Asian Progress, has successfully completed its first bunkering operation of B24 biofuel (FAME B24) at the Port of Singapore. This marks U-Ming’s first vessel to adopt biofuel, signifying a major step forward in the company’s journey toward low-carbon shipping and its commitment to achieving net-zero emissions by 2050.

Since 2023, U-Ming has actively promoted a low-carbon fuel substitution strategy, gradually increasing the use of liquefied natural gas (LNG) as marine fuel. As of 2024, LNG accounts for approximately 8.15% of the company’s total energy consumption, demonstrating tangible progress in its low-carbon transition.

However, adopting low-carbon fuels like LNG requires the installation of additional fuel tanks, which poses spatial challenges for smaller vessels. In response, U-Ming has selected the ultramax bulk carrier Asian Progress as the starting point to introduce B24 biofuel, pioneering the use of low-carbon fuel in smaller vessels.

The bunkering operation was supplied by TFG MARINE PTE LTD, with a total volume of 300 metric tons. It is expected to reduce well-to-wake carbon emissions by approximately 20% compared to conventional marine fuel. This initiative supports U-Ming’s short- to mid-term goal of increasing the proportion of low-carbon fuel usage by 2030 and reflects the company’s strong commitment to sustainable shipping and its forward-looking vision.

03/11/2022

Christening of U-Ming’s Eco-Friendly Capesize Bulk Carriers
“M.V. Cape Venus and M.V. Cape Jupiter”

U-Ming Marine Transport Corporation (TSEC code: 2606), one of the nine listed companies under Far East Group, and its subsidiary U-Ming Marine Transport (Singapore) Pte. Ltd., had commissioned CSSC Qingdao Beihai Shipbuilding Co., Ltd. to build four 210,000-dwt Cape size bulk vessels, two of which are "M.V. Cape Venus" and "M.V. Cape Jupiter".

Leveraging on high end cloud technology, guests from Taipei, Qingdao, Shanghai and Singapore were able to attend the ceremony virtually. The christening was hosted by Mr. Douglas Hsu, Chairman of the Far Eastern Group. During the ceremony, M.V. Cape Venus was named by Ms. Joanne Ling, Chairperson of Chang Hwa Bank and M.V. Cape Jupiter was named by Mrs. Cathie Wang, wife of Mr. Joseph Jye-Cherng Lyu, Chairman of Bank of Taiwan. Mr. Douglas Hsu, Ms. Ling, Mr. & Mrs. Lyu, and other guests graced the christening ceremony virtually.

M.V. Cape Venus and M.V. Cape Jupiter are 299.92 meters long, 50 meters wide with 210,000 dwt. They are first two of the four 210,000 dwt series built by CSSC Qingdao Beihai Shipbuilding Co., Ltd.

In line with our strong corporate value in pursuit of greener shipping, the vessels are built with an energy saving and sustainability concept. They are equipped with the most advanced MAN B&W main engines; installed with shrouds, vortex fins, adopted low-resistance anti-fouling paint and other energy-saving devices. Additionally, the main engine is equipped with a nitrogen oxide treatment system (SCR) which meets the IMO Tier III nitrogen oxide emission requirements; and its EEDI (Energy Efficiency Design Index) ultra-low fuel consumption performance has exceeded the international conventions’ requirements thus improving U-Ming’s performance and competitive advantage.

According to Clarksons' latest estimates, 2022’s dry-bulk tonnage growth is about 2.8% and 2023 is 0.8%; a relatively low increase. With the upcoming IMO regulations such as the Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII) in January 2023, ships which fail to meet the above standard would need to carry out Engine Power Limitation (EPL) and be forced to conduct slower steaming. In line with the upcoming IMO regulations, more older ships are expected to be decommissioned earlier. With the addition of M.V. Cape Venus and M.V. Cape Jupiter, it will create competitive advantages in the industry for U-Ming.

Currently, market uncertainty remains high due to factors such as inflation, supply chain disruptions and the Russian-Ukrainian war. Nevertheless, U-Ming will continue to lay out strategic alliances to create a win-win model; to seek high-quality customers and to sign long-term contracts locking in profits; as well as strengthening risk management and digital transformation to reinforce its core.

In 2022, U-Ming was awarded the Gold Award in the Taiwan Corporate Sustainability Awards for the transportation industry by the Taiwan Sustainable Energy Research Foundation. It is also a constituent stock of the FTSE4Good TIP Taiwan ESG Index. U-Ming attaches great importance to the well-being of employees and has attained the Badge of Accredited Healthy Workplace by the Health Promotion Administration. It has also been awarded the "Asia's Best Employer Award" by HR Asia for two consecutive years.

Recently U-Ming has successfully signed several "Sustainability Index-Linked Loan Facilities" with "Bank of Taiwan", "Overseas-Chinese Banking Corporation", "ANZ Bank", "Mizuho Bank" and "E.Sun Bank". U-Ming's ongoing sustainable initiatives have also attracted external attention; the Company was recently invited to participate in an exclusive interview with the Discovery Channel's program named "Looking at the Future from Taiwan: ESG Sustainable Development".

In October, the R20 Climate Proposal was signed when U-Ming participated in the "Climate Change Sustainability Summit Forum" co-hosted by Yuan Ze University and R20 (R20 Climate Action Regional Organization). U-Ming is committed to play a leading role among the peers to drive sustainability and to reduce its carbon footprints.

About U-Ming:
U-Ming currently owns and operates Capesize, Panamax, Post Panamax, Supramax and Ultramax bulk carriers; cement carriers; Very Large Crude Carrier (VLCC), Very Large Ore Carrier (VLOC) and Crew Transfer Vessel (CTV); amounting to a total of 73 vessels including vessels that are in operation, under construction, joint ventures and ship management services; totalling deadweight of 8.82 million tons. The average age of the owned bulk fleet is about 6.6 years. Besides the subsidiaries in Hong Kong, Singapore and China Xiamen; U-Ming Marine Offshore Co., Ltd. was recently set up to provide offshore wind maritime transportation services in Taiwan.

01/09/2022

U-MING’s “Fleet Safety Management(FSM) ” wins the Singapore International Safety@ Sea Awards 2022

After receiving the “Innovation Endorsement” from ClassNK, Japan last year (2021), U-Ming’s Fleet Safety Management (FSM) system has received another award, the 2022 International Safety@Sea Award, from the Maritime and Port Authority (MPA)of Singapore this year. The Singapore MPA International Safety@Sea Award 2022 is an important award to encourage and recognize the contribution of maritime operators to the sea work safety of global shipping and management companies.

FSM System collects near real-time information on vessels so that the crew and operations personnel can access the navigation information, essential safety systems, and engine performance data of their managing fleet from their centralized Fleet Operations Centre.

U-MING also uses FSM System to ensure their vessels adopt the most efficient route plans, thereby reducing fuel consumption and minimizing the impact of severe weather to improve the environmental sustainability of their operations. In addition, the FSM system has been utilized to improve the overall teamwork between shore managers and ship crews.

The recognition of the FSM system by the Singapore MPA this year once again signifies that U-Ming is an industry leader in the digitalization and safe operation of their fleet. U-Ming will continue to uphold the highest safety standards and persist in its commitment to maintaining a “Safety First Culture.”

https://youtu.be/w0LzyV3x4DU

19/08/2022

U-Ming Marine Again Wins "Best Companies to Work for in Asia” Award

U-Ming Marine has once again been honored with the 2022 "Best Companies to Work for in Asia” Award, which is organized by HR Asia, a well-known human resources magazine in the region. Selection was made by scholars and experts in related fields, based on their comprehensive evaluation of three major topics submitted to corporate employees via an anonymous questionnaire: "Corporate Culture and Organizational Development," "Employee Sense of Identity," and "Team Awareness and Participation." In this comprehensive evaluation, U-Ming’s average score surpassed that of industry peers by 10%, reflecting the strong approval we enjoy among employees.

This year, a total of 330 Taiwan companies participated in the competition as the survey was conducted anonymously among 26,200 participating Taiwan employees. Ultimately, 97 companies were recognized with this honor. U-Ming Marine stands out as the only company in Taiwan's bulk shipping industry to win the award for two consecutive years, once again garnering recognition by the organizers.

Employees are U-Ming's most important asset. Whether in respect to employee benefits, training, development, or physical and mental health, the Company does its best to take care of the needs of our employees. U-Ming has obtained the "Work-Life Balance Subsidy Program" of the Ministry of Labor for several consecutive years, as we have focused additional resources on the care of employees' physical and mental health. Furthermore, we have been awarded the "Healthy Workplace Certification" health promotion badge of the Health Promotion Administration. U-Ming is committed to providing employees with a safe and friendly working environment, and to retaining and using their talents by offering salaries that are superior to industry peers.

During the pandemic period, U-Ming has attached great importance to the physical and mental health of our colleagues. We have provided all kinds of pandemic prevention materials, have offered pandemic prevention leave that surpasses the requirements of the law, and have initiated work from home measures to be implemented at any time so that colleagues can work with peace of mind and maintain their flexibility. At the same time, U-Ming has also paid special attention to the psychological feelings of crew members during the pandemic as we have taken the initiative to engage in proactive and multi-faceted communication coaching while improving crew members' sense of identification with the Company.

In the post-pandemic era, we have integrated organizational resources and encouraged employees to think innovatively while strengthening digital management. We have done so through inter-departmental teamwork, through development of intelligent fleet management, and through provision of sustainable and diversified services. U-Ming has seized the opportunity to prepare for fleet replacement and expansion plans ahead of schedule, to plan out our long-term business development goals, and to prepare for the uncertain shipping market of the future, thereby achieving renewed success.

In the future, the Company and the human resources unit will continue to achieve our mission of "becoming the first choice for customers, employees, and investors.” We are convinced that a culture of teamwork plays an indispensable role in the Company's path to success. Going forward, U-Ming will still be committed to improving the Company's sustainable business philosophy and our own competitive advantages to cultivate multi-faceted talent.

18/07/2022

Christening of U-Ming’s Eco-Friendly Post Panamax Bulk Carrier “M.V. Cemtex Dominance”

A christening ceremony at Oshima Shipbuilding yard in Japan was recently held by U-Ming Marine Transport Corporation (TSEC code: 2606 – one of nine public-listed companies of the Far Eastern Group) for its new built 99,990 DWT Post Panamax Bulk Carrier M.V. Cemtex Dominance. The event was hosted by Mr. Douglas Hsu, Chairman of the Far Eastern Group on July 12, 2022, with attendance of Mrs. Tracy Tsai Wang, who christened the vessel and also many business associates and distinguished guests.

Measuring 235m in length and 40m in width, M.V. Cemtex Dominance is U-Ming’s second new built vessel among the 99,990 DWT Post Panamax series, which is designed and built for U-Ming by Oshima Shipbuilding Co., Ltd. Demonstrating U-Ming’s commitment to building a greener fleet, its increased ship size and the narrow streamline design of the bridge reducing wind resistance improve the vessel’s overall fuel efficiency and competitiveness.

Given the upcoming IMO regulations such as Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII) in January 2023, ships which fail to meet the above standard would face Engine Power Limitation (EPL) or be forced to conduct slow steaming. This accelerates the decommissioning of old ships. In addition, global shipyards’ capacity for new dry bulk carriers has been historically low recently. U-Ming’s new delivered eco-ships since 2014 will definitely show their competitiveness in light of the minimal supply.

Due to the impact of the COVID restrictions and the continuing Russia-Ukraine War, many countries worldwide are looking for alternate sources to secure their internal supply, thus changing the global supply chains and pushing up freight rates. U-Ming was optimistic that the demand in dry bulk market would continue to grow back in 2020, and therefore seized the opportunity to order 12 new eco-friendly bulk carriers and 1 cement carrier - incurring a total capital expenditure of USD 650 million. This also represents an at least 20% total savings achieved as compared to vessels’ current market price. These new vessels are expected to be delivered through 2022 to 2024 which will indeed boost U-Ming’s performance and enable it to achieve further success.

About U-Ming:

U-Ming currently owns and operates Capesize, Panamax, Post Panamax, Supramax and Ultramax bulk carriers; cement carriers; Very Large Crude Carrier (VLCC), Very Large Ore Carrier (VLOC) and Crew Transfer Vessel (CTV); amounting to a total of 70 vessels including vessels that are in operation, under construction, joint ventures and ship management services; totaling deadweight of 8.65 million tons. The average age of the owned bulk fleet is about 6.5 years. Besides the subsidiaries in Hong Kong, Singapore and China Xiamen; U-Ming Marine Offshore Co., Ltd. was recently set up to provide offshore wind maritime transportation services in Taiwan.

08/06/2022

Pioneer of Green and Sustainable Fleet
Expansion Plan with Insight for Another Challenging Future

U-Ming Marine Transport Corporation has today declared a full year cash dividend of NT$3.00 per share on the back of its strong set of financial results for 2021.

Speaking at the company’s 2022 Annual Shareholder’s Meeting (AGM) in Taipei today (June 8, 2022), U Ming Chairman Mr. Douglas Hsu said the dividend maintained the company’s record of high surplus payouts and high dividend yields.

In March of this year U Ming announced it had achieved an annual consolidated revenue of NT$14.012 billion with earnings after tax of NT$4.892 billion, and earnings per share (EPS) of NT$5.79 for 2021.

U-Ming continues to demonstrate its sound financial structure with a total of NT$12.155 billion and NT$14.38 per share in undistributed earnings and statutory reserves available for future distribution. U-Ming will continue its efforts to reward shareholders with a strong performance.

B. Overview of The Shipping Market

In his address to the meeting, Mr Hsu said the effectiveness of the anti-Covid19 measures in various countries resulted in a pent-up demand that favored the dry bulk shipping market.

This was coupled by respective government’s stimulus policies towards infrastructure expansion which resulted in the Baltic Dry Index (BDI) rising to an annual high of 5,650 points on October 7, 2021; hitting a 13-year high with an annual average of 2,943 points, a year-on-year increase of 176% over 2020.

During the first five months in 2022, many uncertain factors have affected the demand for the dry bulk shipping. In February, due to China’s Winter Olympics’ related policies, the steel mills in Tangshan region reduced their steel production and in turn iron ore imports.

In addition, the continuous heavy rain in Brazil affected its major iron ore mining production; resulting in an overall bearish market sentiment for the Cape-size sector in Q1 2022.

The outbreak of the Russian-Ukrainian war at the end of February has also seriously affected the export of major dry bulk cargoes like coal and grains in the Black Sea region. In April 2022, the International Monetary Fund (IMF) revised down its earlier January forecasted global economic growth rate (GDP) of 4.4% to a lower 3.6%.

Since March 2022, major cities in China have undergone lockdowns due to the impact of COVID; China's economy in the 1H 2022 is expected to be severely affected. However, we believe that once the pandemic is brought under control and the easing of COVID restrictions in China begins, which we have seen in Shanghai and Beijing in early June, the Chinese government is determined to activate its aggressive stimulus policy in 2H 2022 in order to achieve a GDP growth target of 5.5% set for 2022. We believe this should support steel demand raw material imports in the coming months.

The increase in demand for electricity in India due to high temperature has depleted the country’s coal inventory thus substantial imports were needed into the country. As a result, the Cape-Size freight market has benefitted and a substantial improvement was seen in Q2 2022; together with the ongoing strong market sentiment for the small and medium-sized bulk carriers.

As the Russia-Ukraine war continues, the industry is seeing a lengthening of ton miles on trade routes. We are seeing more volumes to longer distances, which helps push up freight rates. For the sake of food security, many countries are looking for alternate sources; which have resulted an increase in seaborne trade.

On the ship supply side, currently global shipyards capacity are full up to 2025 with large number of new building orders mainly for gas carriers and container ships.

The order for dry bulk carriers only accounts for 6.6% of the existing fleet - an historic low; hence the delivery of new dry bulk carriers in the next 2 to 3 years are expected to be minimal. Uncertainty relating to emissions regulations and technologies to decarbonize the industry will also continue to hinder ordering.

The ongoing high oil prices which prompted slow steaming and the continuous port congestion should continue to compound the reduced tonnage capacity situation. The Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII) regulations shall take effect in January 2023; resulting those ships that do not meet the emission standards will have to carry out Engine Power Limitation (EPL) or forced into slow steaming. This will further accelerate the decommissioning of older ships which is good for the overall market fundamentals.

Mr Hsu said U Ming is optimistic that the overall dry bulk freight market should stay healthy for the rest of the year.

C. Seize the Opportunity to Expand the Energy-Saving Fleet

U-Ming has continued with its fleet renewal program at the timely manner. At the end of 2020, before the rebounding of the dry bulk market and the surge in new building prices, U-Ming had foreseen that the demand for dry bulk transportation would continue to grow and compounded by the limited future supply growth of dry bulk vessels. Hence the Company had seized the opportunity then to order 12 new energy-saving and environmental-friendly bulk carriers and 1 cement carrier - incurred a total capital expenditure of USD 650 million but with at least 20% total savings achieved as compared to the current market price.

These new ships are expected to be delivered progressively before 2024 which will boost U-Ming’s financial performance and propel the Company into further success to meet the ever-changing global economic market conditions.

U-Ming is the first and only shipping company in Taiwan that builds LNG dual-fuel bulk carriers; and one of the pioneers in the global LNG bulk carrier fleet. The Company has set a target of 30% carbon dioxide emission reduction in 2025 (based on 2013 reference) and is determined to provide sustainable low-carbon green transportation services to its customers in the future.

To stand out from the competition, U-Ming is determined to constantly undergo transformation and upgrading in order to respond swiftly to market changes and challenges; supported by prudent management’s clear strategic growth direction. The Company will continue to collaborate with its major customers to expand its low-carbon energy fleet such as LNG/Ammonia/Methanol which is in line with Taiwan's energy transition and security policies; including the formation of a national LNG-powered fleet, one of U-Ming’s main goal in its ongoing sustainable initiatives.

D. Continuous Digital Transformation

In December 2021, U-Ming's proprietary "Fleet Safety Management System" (FSM) was verified by ClassNK, a Japanese Classification Society, and attained the Certificate of Innovation Endorsement. The FSM system collects near real-time ship information in order to centrally capture the navigation information, safety status of major equipment and engine performance data of each ship in the Company’s Operation Center (OP Center). FSM is also utilized to ensure that each ship adopts the best route planning, reduces impact of fuel consumption and severe weather; which helps to improve the overall operational performance.
In addition, U-Ming is the first Taiwanese company (excluding banks) to join the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in early 2022. Through the SWIFT financial platform, it integrates and transmits remittance information to banks around the world to achieve efficient remittance and automation targets.

E. Sustainability Index-Linked Loans and ESG Sustainable Management

U-Ming’s long-standing commitment to sustainable management has won recognitions both domestically and internationally. In 2021, U-Ming was awarded the Gold Award in the Taiwan Corporate Sustainability Awards for the transportation industry by the Taiwan Sustainable Energy Research Foundation. It is also a constituent stock of the FTSE4Good Emerging Index and the Taiwan Sustainability Index FTSE4Good TIP Taiwan ESG Index. U-Ming has created a friendly workplace environment, attained the Badge of Accredited Healthy Workplace by the Health Promotion Administration and won HR “Asia Best Companies to Work for in Asia 2021”. and "We Care Best Employee Care Award". In March 2021, U-Ming had signed a 'Sustainability Index-Linked Loan Facility with E.Sun Bank, and subsequently with Overseas-Chinese Banking Corporation, ANZ Bank and Mizuho Bank respectively to expand the Company's green energy fleet. U-Ming's ongoing sustainable initiatives have also attracted external attention; the Company was recently invited to participate in an exclusive interview with the Discovery Channel's program named "Looking at the Future from Taiwan: ESG Sustainable Development".

About U-Ming:

U-Ming currently owns and operates a fleet of Capesize, Panamax, Post Panamax, Supramax and Ultramax bulk carriers; Cement Carriers; Very Large Crude Carriers (VLCC); Very Large Ore Carriers (VLOC) and Crew Transfer Vessels (CTV); amounting to a total of 71 vessels including vessels that are in operation, under construction, joint ventures and ship management services; with a total deadweight of 8.7 million tons. The average age of the owned bulk carrier fleet is about 6.5 years. U-Ming has overseas subsidiaries in Singapore, Hong Kong and China Xiamen.

16/03/2022

ANZ EXTENDS SUSTAINABILITY-LINKED LOAN TO U-MING MARINE TRANSPORT CORPORATION

Taiwan, 16 March 2022 – ANZ Bank Taiwan has today signed a US$50 million sustainability-linked loan with U-Ming Marine Transport (S) Pte Ltd., a fully-owned subsidiary of U-Ming Marine Transport Corporation - one of Taiwan’s largest listed bulk carrier companies.

The loan will be used to fund U-Ming’s fleet renewal plan which includes the delivery of 11 new bulk carriers by the end of 2022. These vessels are featured with optimized hull design; energy-saving main engines and devices; ultra-low friction paint hull-coating and a fleet safety management system designed by U-Ming.

This sustainability-linked loan from ANZ Bank further demonstrates U-Ming’s long-term commitment to transforming its vessels into a modern, environmentally-friendly fleet which fully complies with the IMO carbon reduction targets.

“We want to assure our customers that we are working towards the goal of operating an environmental-friendly fleet for the benefit of the next generation so that shipping is sustainable for our planet over the long term We are committed to making significant investments in this goal and we aim to be a leader in our market”, said Mr CK Ong, U-Ming’s President.

U-Ming has engaged an external reviewer, the classification society DNV, to ensure the targets are aligned with the sustainability-linked loan and U-Ming’s business strategy.

The Company has a fleet of 60 vessels in operation, under construction, joint ventures and ship management services; totaling deadweight of 8.25 million tons. The average age of the owned bulk fleet is about 6.5 years. Besides the subsidiaries in Hong Kong, Singapore and China Xiamen; U-Ming Marine Offshore Co., Ltd. was recently set up to provide offshore wind maritime transportation services in Taiwan.

ANZ Taiwan country Head Hong Swee Lau said: “ANZ Taiwan is excited to support U-Ming Marine on this sustainability-linked loan. As one of the largest bulk carriers in Taiwan, U-Ming marine has the scale to make a significant impact through its sustainability agenda in the industry and its strategy aligns with ANZ’s ambitions to help drive the global transition to net zero.”

ANZ’s Sustainable Finance business is recognized as a market leader across Australia, New Zealand and Asia Pacific, and is estimated to have participated in approximately 5% of global sustainable finance deal volume in 2021, according to Bloomberg and ANZ data. During the 2021 financial year, this business participated in 81 transactions, with total deal size of AUD$119 billion.

ANZ is the largest bank servicing institutional and large corporate customers in its home markets of Australia and New Zealand, where it ranks #1 for relationship strength and overall market-and lead-bank pe*******on (according to Peter Lee Associates). In Asia, ANZ Institutional has ranked #1 for relationship quality for the past 5 years, according to Greenwich Associates.

09/03/2022

Christening of U-Ming’s Eco-Friendly Post Panamax Bulk Carrier
“M.V. Cemtex Excellence”

U-Ming Marine Transport Corporation (TSEC code: 2606 – one of nine public-listed companies of the Far Eastern Group), has contracted with Japan’s Sumitomo Marine Co. Ltd. to commission Oshima Shipbuilding Co., Ltd. to build a 99,990 DWT Post Panamax Bulk Carrier M.V. Cemtex Excellence.

A Christening ceremony was hosted by Mr Douglas Hsu, Chairman of the Far Eastern Group on March 9, 2022 at the Group’s Head Quarters in Taipei and was connected on-line with Oshima Shipbuilding yard. Mrs. Eugenia Chen Chang, wife of Chairman Chia-Juch Chang, China Development Financial Holding Corporation, christened the vessel as online sponsor from Taipei. The ceremony was well attended by many business associates and distinguished guests. The new ship is expected to be officially launched on March 14, 2022.

M.V. Cemtex Excellence has a length of 235m, width of 40m and deadweight of 99,990 metric tons and she is the first of the 99,990 DWT Post Panamax series built for U-Ming by Oshima Shipbuilding.
The high quality eco-efficient features and an enhanced digital operation system greatly improves the operating efficiency and safety of the vessel. The increasing size of ships reduces fuel consumption per unit cargo and lowers operating costs. In view of the industry trend towards low-speed operations, speed of navigation is optimized. The narrow streamline design of the bridge also helps to reduce wind resistance.

Due to stricter new environmental regulations to be implemented in January 2023 such as Energy Efficiency Design Index (EEXI) and Carbon Intensity Indicator (CII), old ships that do not meet the regulations will be phased out.

In the second half of 2020, container shipping saw a significant increase in demand which resulted in a high volume of large container ship orders. Many yards will be occupied with container newbuilding work in the next few years leading to a slow-down in delivery of dry bulk vessels.

On the demand side, many countries are competing for infrastructure improvements which will in turn increase the demand for raw materials and drives up freight rates of bulk shipping.
According to Clarksons’ Dry Bulk Trade Outlook for January 2022, the growth rate of dry bulk fleet is expected to be only 2.1% in 2022 versus the demand for dry bulk shipping at about 2.5%. The expected slower pace of tonnage supply will continue to favour the dry bulk market in the short term.

U-Ming continues to seek long term strategic partnerships with high quality customers to secure our win-win co-operations and to ensure steady revenues to sustain our business.

By improving the management efficiency, integrating internal organizational resources through inter-departmental team co-operation, evolving high efficiency “Eco Ships”, providing sustainable diversified services and digitalizing our business, we aim to strengthen our core competitiveness and contribute to a greener and sustainable shipping market.

U-Ming Marine Transport Corporation

28/07/2025

25/07/2025

03/11/2022

01/09/2022

19/08/2022

18/07/2022

08/06/2022

16/03/2022

09/03/2022

Address

Telephone

Website

Alerts

Contact The Business

Shortcuts

Share

Category