| U-Ming Marine sees prospect in bulk shipping |
| Taiwanese bulk carrier U-Ming Marine stated on 5 May that the infrastructure construction in emerging markets such as China and India will bring opportunities for bulk shipping. Asian Infrastructure Investment Bank, BRICS Development Bank, and Silk Road Fund will provide financial support for these infrastructure constructions, which will increase the demands for construction materials, the carrier pointed out. The carrier believes that the infrastructure construction in China still has potential to develop, and the national urbanisation plan (2014–20) and the maritime silk road of the 'One Belt, One Road' policy will increase the demands for construction materials, such as steel, which will promote bulk shipping. On 30 April U-Ming Marine’s Singapore branch took delivery of an 18,800 dwt bulk carrier, the fifth eco-ship built by Shanghai Waigaoqiao Shipyard. This new ship not only has higher speed, but also cuts fuel consumption by 20%, and its daily rate is 15-20% higher than an ordinary Capsize, according to U-Ming Marine. The new ship will meet Maritime and Port Authority of Singapore's green-ship criteria and is qualified to enjoy a reduction of Initial Registration Fees and a rebate on Annual Tonnage Tax. Since 2012, U-Ming has decommissioned eight older vessels and added 16 new ones to its fleet to achieve a more competitive portfolio, stated the company. In addition, the company has nine new vessels on order – four Capesizes at Shanghai Waigaoqiao Shipyard, as well as one post-Panamax and four Ultramaxes at Japan’s Oshima Shipyard. These newbuildings are expected to be delivered by 2017, following which the average age of U-Ming’s fleet will be less than seven years. |