U-MING’s New Ultramax Vessel M.V. “ASIAN PROSPERITY” Joins the Fleet

U-Ming Marine Transport Corporation (2606), one of the nine listed companies under the Far Eastern Group, through its subsidiary U-Ming Marine Transport (Singapore) Pte Ltd, commissioned New Dayang Shipbuilding Co., Ltd. to build four 64,000 DWT Ultramax bulk carriers.  The third vessel, M.V. “Asian Prosperity”, held its naming and delivery ceremony in Yangzhou today, presided over by Chairman Douglas Hsu of the Far Eastern Group.  Ms. Stephanie Commin, General Manager of Christian Dior Taiwan, was invited to christen the vessel. The event garnered the presence of numerous esteemed business associates and distinguished guests, underscoring the significance of this occasion.  On the same day, U-Ming signed a contract with Sumec’s New Dayang Shipbuilding Co., Ltd. to build four additional 64,000 DWT bulk carriers, highlighting the strong, long-term partnership between U-Ming and New Dayang.

M.V. “Asian Prosperity” measures 199.90 meters in length and 32.26 meters in width, with a DWT of 64,000 tons. It is the third vessel in the newly designed 64,000 DWT Ultramax series and represents the first collaboration between New Dayang Shipyard and U-Ming. This vessel aligns with U-Ming’s commitment to energy efficiency and environmental protection, with its Energy Efficiency Design Index (EEDI) exceeding the Phase 3 energy-saving standards set by the International Maritime Organization (IMO). Before its sea trial, the ship’s outer hull was coated with Hempel X8 high-performance antifouling paint, effectively reducing biofouling and hull resistance during voyages, thereby improving fuel efficiency.  Compared to traditional antifouling paints, this coating helps to save 5-8% in fuel consumption. Additionally, U-Ming’s Fleet Safety Management (FSM) system onboard, which allows operational and weather data to be transmitted back to the company’s shore-based system for analysis and monitoring, further enhancing vessel energy efficiency, reducing failure rates, and improving operational efficiency. This system has earned SMARTShip certification from classification societies such as NK (Japan), DNV (Norway), CR (Taiwan), and BV (France); and has also won the Maritime Safety Award from the Maritime and Port Authority of Singapore.  Furthermore, the vessel has received the LNG-Ready classification from ABS, indicating its potential for future conversion to using liquefied natural gas (LNG) as fuel, helping to reduce carbon emissions and meet stricter future environmental standards.
 
In response to the International Maritime Organization’s (IMO) 2050 net-zero greenhouse gas emissions goal, U-Ming continues to renew its fleet and is dedicated to promoting an environmentally friendly transformation of its vessels. While expanding its fleet, U-Ming aims to design new ships with energy-saving and eco-friendly concepts to reduce carbon emissions and enhance operational efficiency. U-Ming is also actively researching and developing sustainable fuel alternatives to ensure greener and more environmentally friendly future operations.

U-Ming places great emphasis on ESG (Environmental, Social, and Governance) and this year released Taiwan’s first independent "Task Force on Climate-Related Financial Disclosures (TCFD)" report in the shipping industry. It has also been included in the "FTSE4Good Taiwan Sustainability Index" for several consecutive years and won the "Platinum Award for Sustainability Reports" and the "Top 100 Sustainable Enterprises in Taiwan Award" from the Taiwan Institute for Sustainable Energy in 2023. U-Ming also received three honours from the Ministry of Transportation this year, including "Excellence in Fleet Expansion," "Excellence in Green Shipping Development," and "Excellence in Support of Maritime Training."  Additionally, U-Ming was recognized by HR Asia in 2024 as one of the "Best Companies to Work for in Asia," along with receiving the "Diversity, Equity & Inclusion Award," the "Sustainable Workplace Award," and the "Most Caring Company Award," reaffirming its status as a happy and successful company. Finally, U-Ming was once again included in the "2024 Foreign Investor-Focused Taiwan Top 100 List (TaiwanFINI100)" by the Taiwan Directors' Association, demonstrating its excellence in market, fundamentals, and sustainability, positioning it as a highly competitive international company.

U-Ming currently operates a fleet that includes Capesize, Panamax, Post Panamax, Ultramax, cement carriers, Very Large Crude Carriers (VLCC), Very Large Ore Carriers (VLOC), and Crew Transfer Vessels (CTV) for offshore wind power. With 71 vessels under its fleet, including joint ventures and ships under construction, U-Ming’s total fleet capacity reaches 8.77 million DWT. With the addition of the newly contracted four vessels, the fleet will grow to 75 vessels, with a total capacity of 9.02 million DWT. It has subsidiaries overseas in Singapore, Hong Kong and Xiamen; including U-Ming Marine Offshore Company Ltd in Taipei which focuses on green energy transportation.