U-Ming Marine Transport (Singapore), a fully owned subsidiary of Taiwanese carrier U-Ming Marine, on 6 August took delivery of a 85,066 dwt bulk carrier from Japanese shipbuilder Oshima Shipbuiding.
MV Cemtex Fortune is the last vessel in a series of four post-Panamaxes the carrier had ordered from the shipbuilder.
The carrier has de-commissioned eight older vessels and added 17 new ones since 2012.
In line with its fleet renewal and expansion program, U-Ming has ordered four 85,066 dwt post-Panamaxes and four 62,000 dwt Ultramaxes from Oshima Shipbuilding since 2010.
Despite unforeseen challenges in the bulk shipping market, U-Ming believes the expected improvement in the global economic climate is set to be conducive for the demand growth of bulk raw materials.
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A huge impact on the forthcoming steel demand is also projected, which, will drive the raw material shipping volume, said U-Ming.
U-Ming now has seven new vessels under construction, including three Capesizes at Shanghai Waigaoqiao Shipyard and four Ultramaxes at Oshima Shipyard, which are expected to be delivered by 2017.
The carrier operates a fleet of 53 vessels with a total deadweight of 6.75 million tonnes, including vessels that are in operation, under construction, joint ventures and ship management services. With subsidiaries in China, Hong Kong, and Singapore, it is the largest listed bulk carrier company in Taiwan in terms of gross tonnage.
This post was sourced from IHS Maritime 360: View the original article here.