Taiwanese dry bulk shipping operator U-Ming Marine is continuing to advance its business growth and diversification strategy, with the first 174,000 m³ liquefied natural gas (LNG) carrier in its fleet set to be delivered and put into service.
On May 20, U-Ming Marine announced on its official website that the naming ceremony for the 174,000 m³ LNG carrier “DIAMOND GAS JADE,” built by one of the company’s joint ventures, was held on May 19 at the Samsung Heavy Industries Geoje Shipyard.
U-Ming Marine stated that it will expand into the LNG transport business through the establishment of a joint venture. The “DIAMOND GAS JADE” is scheduled for delivery in August 2026, at which time it will become the first LNG carrier in U-Ming Marine’s fleet. This marks the official entry of the international shipowner—whose core business is bulk carrier transport—into the energy transport sector.
The vessel is approximately 290 meters in length, 45.8 meters in beam, and has a cargo capacity of 174,000 cubic meters. With a design speed of 19.5 knots, it is equipped with the latest energy-efficient and environmentally friendly technologies, as well as a dual-fuel ME-GA propulsion system. Upon delivery, it will immediately enter service in global LNG transport operations.
It is understood that U-Ming Marine was founded in 1968, originally known as Yumin Transportation Company, and initially engaged in land-based trucking operations. In 1984, the company completed a business restructuring and began focusing on maritime transport. This move into the LNG transport market represents a key step for the shipowner in advancing its business diversification strategy.
It is worth noting that, in addition to announcing the latest updates on the construction of its first LNG carrier, U-Ming Marine also announced that it will continue to advance its fleet expansion plan. The company’s board of directors has approved the construction of four 210,000 DWT Capesize bulk carriers and four 64,000 DWT Ultramax bulk carriers, which will help the company achieve its “dual growth” strategic goal of expanding its fleet to over 100 vessels with a total deadweight tonnage exceeding 10 million tons.
Currently, U-Ming Marine’s fleet comprises 71 vessels, with an additional 13 newbuilds under construction. Once completed, the fleet will total 84 vessels with a combined deadweight tonnage of 9.96 million tons. The company’s operations are primarily focused on bulk carriers, covering Capesize, Panamax, Post-Panamax, and Ultramax vessel types, while also expanding into the Very Large Ore Carrier (VLOC) and Very Large Crude Carrier (VLCC) markets. Recently, U-Ming Marine has further expanded into the offshore wind power sector, entering the marine engineering vessel market with wind farm maintenance vessels and crew transfer vessels.