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U-Ming Marine expands its ultramax bulk carrier fleet

According to TradeWinds, Taiwan’s U-Ming Marine has returned to Japan’s Oshima Shipbuilding and placed an order for two ultramax bulk carriers.

U-Ming Marine has signed a contract with Oshima Shipbuilding for the construction of two 64,000 dwt bulk carriers, while the Taipei-based shipping company’s last order with the Japanese shipbuilder was in late 2019.

U-Ming Marine officials confirmed that Oshima Shipbuilding plans to deliver the two ships in 2028, but declined to comment on the contract price.

The official said this ship order is part of the company’s fleet renewal and expansion program. Including the latest order, the total number of ultramax bulk carriers currently on order for Yulin Shipping reaches seven, with another five vessels under construction at New Dayang Shipbuilding in China.

Over the past two years, U-Ming Marine has ordered eight 64,000 dwt bulk carriers from New Dayang Shipbuilding because of the “attractive” price and the shipyard’s good reputation.

It is reported that the average price paid by U-Ming Marine for the New Dayang Shipbuilding order is about US$34.5 million. Currently, New Dayang Shipbuilding has delivered three vessels and plans to deliver one this year and two each in 2027 and 2028.

U-Ming Marine currently has seven ultramax vessels in operation, and the fleet will double to 14 as Oshima Shipbuilding and New Dayang Shipbuilding complete their remaining orders over the next three years.

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