U-Ming Welcomes the Addition of Two Ultramax Eco-Friendly Ships to Its Fleet

U-Ming Marine Transport Corporation (2606), a subsidiary of the Far Eastern Group and one of its nine publicly listed companies, commissioned New Dayang Shipbuilding Co., Ltd. to build four 64,000 DWT Ultramax bulk carriers. The first two ships, M.V. Asian Eternity and M.V. Asian Endurance, were christened today (August 13th) in Yangzhou. The ceremony was personally presided over by Mr. Douglas Hsu, Chairman of the Far Eastern Group, with the naming carried out by Mrs. Xiaohong Laure Zhang, wife of Mr. Bruno Weill, Chief Group Representative for China at BNP Paribas (China), and Ms. Eva Leihener-Stefan, Managing Director of L’Oréal Taiwan. The event garnered the presence of numerous esteemed business associates and distinguished guests, underscoring the significance of this occasion.

Both vessels are 199.90 meters in length, 32.26 meters in width, and have a deadweight tonnage of 64,000 tons. They are the first two ships in the newly designed 64,000 DWT Ultramax series. This is the first collaboration between New Dayang Shipbuilding and U-Ming. These ships uphold U-Ming’s commitment to energy efficiency and environmental protection, exceeding the Phase 3 requirements of the International Maritime Organization’s (IMO) Energy Efficiency Design Index (EEDI). Additionally, they are equipped with U-Ming’s Fleet Safety Management (FSM) system, which uses IoT technology to synchronize operational and meteorological data back to the company's onshore center for analysis and monitoring, further improving energy efficiency, reducing failure rates, and increasing operational efficiency. This system has received SMARTShip Notation certifications from various classification societies, including Japan’s NK, Norway’s DNV, Taiwan’s CR, and France’s BV, and has also won the Maritime Safety Award from the Maritime and Port Authority of Singapore.

The construction process utilized Hempel X8 high-performance antifouling coatings and a two-step dry-dock method to ensure each layer of coating fully cured, improving adhesion and durability and maximizing antifouling performance. This coating significantly reduces biofouling and fluid resistance, saving 5-8% in fuel consumption during navigation and helping reduce operating costs and carbon emissions. For ships that frequently anchor for long periods, the antifouling properties of this coating can also effectively reduce maintenance frequency and extend the ship’s lifespan. Moreover, M.V. Asian Eternity and M.V. Asian Endurance have been awarded the LNG-Ready class notation, indicating they are designed for future retrofitting to use liquefied natural gas (LNG), which is beneficial for meeting future carbon footprint reduction needs.

In response to the International Maritime Organization’s (IMO) 2050 net-zero greenhouse gas (GHG) emissions target, U-Ming is pushing for an environmental transformation of its fleet as part of its fleet renewal program. The inclusion of new eco-friendly ships replaces older, less efficient vessels, not only reducing carbon emissions but also improving operational efficiency. Furthermore, U-Ming continues to research and develop sustainable fuel alternatives to ensure greener and more environmentally friendly operations. Currently, 94% of U-Ming’s fleet tonnage consists of eco-friendly ships, significantly higher than the market average of 37%, and the fleet’s average age is 6.4 years, much younger than the bulk carrier market average of 12.2 years. Environmental friendliness and youthfulness are two major competitive advantages of U-Ming’s fleet.

U-Ming places great importance on ESG (Environmental, Social, and Governance) practices and plans to release its first independent greenhouse gas inventory report for its parent and subsidiary companies this year, enhancing the comprehensiveness of its carbon disclosure. It is also leading the industry in planning the production of an independent report on climate-related financial disclosures (TCFD). U-Ming has been included in the FTSE4Good Taiwan Sustainability Index for several years, received the Platinum Award for Sustainability Reports and the Top 100 Sustainable Exemplary Enterprise Award from the Taiwan Institute for Sustainable Energy in 2023. U-Ming also received three honors in the Ministry of Transportation and Communications' selection of outstanding shipping companies this year: "Outstanding Fleet Expansion," "Outstanding Green Shipping Development," and "Outstanding Support for Maritime Training Industry-Academia Collaboration," recognizing U-Ming's ESG performance. Additionally, U-Ming was recently awarded the 2024 "Best Companies to Work for in Asia" by HR Asia, along with the "Diversity, Equity & Inclusion Awards," "Sustainable Workplace Awards," and "Most Caring Company Awards," reaffirming its status as a trailblazer in fostering a conducive work environment. 

Presently, U-Ming commands a fleet comprising Capesize, Panamax, Post Panamax, Ultramax bulk carriers, Cement Carriers, Very Large Crude Carriers (VLCCs), Very Large Ore Carriers (VLOC), and Crew Transfer Vessels (CTV), including 4 x LNG dual-fuel bulk carriers. With a total fleet of 72 vessels and a total deadweight of 8.84 million tons, U-Ming stands as a stalwart in the maritime industry. Bolstering its global footprint, U-Ming maintains overseas subsidiaries in Singapore, Hong Kong, and Xiamen, China.