U-Ming Marine Transport Corporation (TSEC code: 2606 – one of nine listed companies in the Far East group), has contracted with Japanese Sumitomo Marine Co. Ltd. to load Oshima Shipbuilding Co., Ltd. to build a 99,990 DWT Post Panamax bulk carrier MV Cemtex Excellence.
A christening ceremony was held by Mr. Douglas Hsu, Chairman of Far Eastern Group, on March 9, 2022 at the Group’s headquarters in Taipei and was connected online with Oshima Shipyard. Ms. Eugenia Chen Chang, wife of Chairman Chia-Juch Chang, China Development Financial Holding Corporation, christened the ship as Taipei’s online sponsor. The ceremony was well attended by many business associates and distinguished guests. The new ship is expected to officially launch on March 14, 2022.
MV Cemtex Excellence is 235m long, 40m wide and has a deadweight of 99,990 metric tons and is the first of the 99,990 DWT Post Panamax series built for U-Ming by Oshima Shipbuilding.
High-quality eco-efficient features and an upgraded digital operating system greatly improve the operating efficiency and safety of the vessel. The increasing size of ships reduces fuel consumption per unit of cargo and lowers operating costs. Considering the industry trend towards low speed operations, browsing speed is optimized. The narrow, streamlined deck design also helps reduce wind resistance.
Due to new, stricter environmental regulations that will be implemented in January 2023, such as the Energy Efficiency Design Index (EEXI) and the Carbon Intensity Indicator (CII), older vessels that do not meet regulations will be phased out.
In the second half of 2020, container shipping saw a significant increase in demand, resulting in a high volume of orders for large container ships. Many yards will be busy with construction work for new containers in the coming years, which will lead to a slowdown in deliveries of dry bulk carriers.
On the demand side, many countries are competing for improved infrastructure which, in turn, will increase the demand for raw materials and drive up bulk freight rates.
According to Clarksons Dry Bulk Business Outlook for January 2022, the dry bulk fleet growth rate is expected to be just 2.1% in 2022, compared to dry bulk shipping demand of around 2.5 %. The expected slowdown in the tonnage supply rate will continue to favor 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 cooperations and ensure stable revenue to support our business.
By improving management efficiency, integrating internal organizational resources through the cooperation of cross-departmental teams, evolving high-efficiency “Eco Ships”, providing sustainable diversified services and digitizing our business, we aim strengthen our core competitiveness and contribute to a greener and more sustainable environment. sea market.
U-Ming currently owns and operates the 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); totaling 60 vessels, including vessels in operation, under construction, joint ventures and vessel management services; total deadweight of 8.25 million tons. The average age of the owned bulk carrier fleet is approximately 6.5 years. Besides subsidiaries in Hong Kong, Singapore and China Xiamen; U-Ming Marine Offshore Co., Ltd. was recently established to provide offshore wind shipping services in Taiwan.