U-Ming Marine Expands Fleet with Six New Bulkers Built in China
Taiwan‑based U‑Ming Marine Transport has announced a fresh investment of between $296 million and $312 million for six new dry‑bulk vessels to be constructed at Chinese shipyards. The order comprises four 64,000 dwt ultramax carriers and two 211,000 dwt Newcastlemaxes, reinforcing the company’s ambition to operate a fleet of around 100 vessels.
Details of the Newbuild Programme
Two Newcastlemaxes, each with a deadweight of 211,000 t, will be built by Jiangsu Hantong Ship Heavy Industry. The contracts price each vessel at $77 million‑$80 million, bringing the total outlay for the pair to $154 million‑$160 million.
- Shipyard: Jiangsu Hantong Ship Heavy Industry (China)
- Type: Newcastlemax (≈211,000 dwt)
- Number: 2
- Investment: $154 million‑$160 million
- Delivery: 2029‑2030
In parallel, U‑Ming will acquire four 64,000 dwt ultramax vessels from the Sumec‑controlled New Dayang Shipbuilding yard. The per‑vessel price is estimated at $35.5 million‑$38 million, resulting in a total commitment of $142 million‑$152 million.
- Shipyard: New Dayang Shipbuilding (Sumec Marine, China)
- Type: Ultramax (≈64,000 dwt)
- Number: 4
- Investment: $142 million‑$152 million
- First delivery: Q4 2029; remaining three: 2030
Strategic Context
The contracts were disclosed through two separate filings by U‑Ming’s Singapore‑based subsidiary to the Taiwan Stock Exchange. The latest agreements complement a June order placed at Hantong for two firm ships plus two options at the same price range, effectively converting the optional pair into firm commitments.
These six vessels are part of an expansion plan approved earlier in the year, which envisages the addition of four 210,000 dwt bulkers and four ultramaxes. The programme aligns with U‑Ming’s broader strategy to grow its dry‑bulk capacity while diversifying into other segments such as VLCCs, VLOCs, offshore wind support vessels and LNG carriers.
Fleet Outlook
At its May investor presentation, U‑Ming targeted a fleet size of more than 100 ships, with dry bulk remaining the core growth area. By the end of September, the company reported that its owned, joint‑venture and new‑building fleet had reached approximately 90 vessels and surpassed the 10 million dwt threshold.
With the newbuilds slated for delivery between late 2029 and 2030, U‑Ming is on track to achieve its 100‑ship milestone, reinforcing its position among the region’s leading bulk‑carrier operators.