Taiwanese dry bulk shipping operator U-Ming Marine is undergoing a significant fleet expansion. Following recent orders for six 64,000 DWT vessels at shipyards in China and Japan, the shipowner has once again chosen a Chinese shipyard to construct up to four Capesize vessels.
U-Ming Marine has ordered two capesize bulk carriers from China’s Hengli Heavy Industries, according to its fleet data. The new vessels have a deadweight of 181,000 tons and will sail under the Singapore flag. The first two new vessels are expected to be delivered in July and August 2027.
According to industry sources, the new vessels are priced at about US$78 million each. The contract also includes two option vessels, and if all of them come into effect, the total value of the order will amount to $312 million (about RMB 2.26 billion).
In October of last year, U-Ming Marine signed another contract with New Dayang Shipbuilding for four 64,100 DWT bulk carriers. Additionally, last month, U-Ming Marine placed an order for two 64,000 DWT bulk carriers with Oshima Shipbuilding in Japan. Currently, U-Ming Marine has ordered seven 64,000 DWT bulk carriers, with five being built by New Dayang Shipbuilding, and delivery dates ranging from March 2025 to March 2028.
U-Ming Marine aims to expand its fleet size to 100 vessels. Including the latest order, the shipowner currently owns 79 vessels covering all types of bulk carriers, VLOCs, tankers, cement carriers, crew transfer vessels, etc., with a total deadweight of more than 9.5 million tons.
It is reported that Hengli Heavy Industries has also previously received orders for eight 180,000 DWT capesize vessels from German shipping company Reederei H Vogemann in 2023 and 2024, with the cost of a single vessel at about $70 million, which are expected to be delivered from 2025 to 2027.
Since last year, Hengli Heavy Industries has gradually entered into a stage of rapid development, ushering in major milestones such as the delivery of the first vessel, the delivery of the first engine, the launching of the first 306,000 DWT VLCC, and the commissioning of the second-phase plant.
Last month, Hengli Heavy Industries held a patent cooperation agreement signing ceremony with France’s GTT for the membrane containment system, marking the newcomer shipbuilder’s formal entry into the construction of ultra-large LNG vessels.
According to Clarkson data, Hengli Heavy Industries received orders for 56 new vessels of 2.68 million compensated gross tonnage(CGT) in 2024, ranking all four of the world’s monohull shipyards (not shipbuilding groups).