U-Ming orders capesize brace in China

Taiwanese owner and operator U-Ming Marine Transport is expanding its fleet with a brace of capsize bulker newbuilds in China.

The subsidiary of the Far Eastern Group has signed up for 180,000 dwt vessels at Qingdao Beihai Shipbuilding, with delivery expected in 2028.

U-Ming said it is paying between $75m and $79m per newbuild.

U-Ming owns and operates nearly 80 ships, including those under construction and joint ventures. Most of the fleet comprises bulkers, but the company also trades in the VLCC, LR1, cement carrier and crew transfer vessel segments.

Most recently, the company signed up for a pair of ultramax bulker newbuildings at Oshima Shipbuilding and up to four capes at Hengli Heavy Industry.