On March 31, Taiwanese dry bulk shipping operator U-Ming Marine signed a contract with Qingdao Beihai Shipbuilding, a subsidiary of China State Shipbuilding Corporation, to build two 180,000 DWT bulk carriers.
The cost of each ship is between US$75 million and US$79 million. Based on this calculation, the total value of the order is between US$150 million and US$158 million, and is expected to be delivered in 2028.
It is worth noting that the order for two new ships placed by U-Ming Marine is the first order undertaken by Beihai Shipbuilding this year.
Including the latest order, U-Ming Marine has announced 3 newbuilding contracts for a total of 6+2 bulk carriers this year. Respectively, Hengli Heavy Industries has undertaken 2+2 181,000 DWT bulk carriers. The first two are expected to be delivered in July and August 2027. The cost of each ship is approximately US$78 million. If the option order takes effect, the total value of the four new ships will reach US$312 million. The two 64,000 DWT bulk carriers has undertaken by Japan’s Oshima Shipbuilding are scheduled to be delivered in 2028. This is the first time the two parties have cooperated in shipbuilding again after many years.
In the past few years, U-Ming Marine has been keen on placing orders with Sumec New Dayang Shipyard for shipbuilding. From 2022 to 2024, the two parties signed a total of eight 64,000 DWT bulk carrier construction contracts. Currently, the shipbuilder has delivered four ships and plans to deliver two ships in 2027 and 2028 respectively.
According to the official website, U-Ming Marine currently owns Capesize, Panamax, Kamsarmax, Handysize bulk carriers, cement ships, LR1 tankers, Very Large Crude Carriers (VLCC), Very Large Ore Carriers (VLOC) and Crew Transport Vessels (CTV), etc. The average age of its own bulk carrier fleet is about 6.5 years. Including joint ventures and ships under construction, U-Ming Marine has a fleet of 79 ships with a total capacity of 9.52 million deadweight tons.