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TAIWAN BULKER COMPANY SECURES DUAL-FUEL CHARTER DEAL

Tuesday, November 10, 2020 

U-Ming Marine Transport Corporation, Taiwan’s largest publicly listed bulk carrier company, has been awarded a 10-year LNG Dual Fuel dry bulk charter contract by mining company Anglo American, the first such long term time charter in the bulk carrier sector.

Four LNG Dual Fuel Tier III 190,000 dwt bulk carriers, with a length of about 299m and width 47.50m, will be built by Shanghai Waigaoqiao Shipbuilding (SWS) to support the 10-year time charter, and they are expected to be delivered throughout 2023. The newbuildings will be powered by LNG, fitted with MAN Energy Solutions’ high-pressure ME-GI engines for negligible levels of methane slippage, while increasing operational efficiency and reliability.

U-Ming will be investing in other energy-saving devices such as a Mewis duct, propeller boss fin and alpha lubricator, and will be monitored through U-Ming’s proprietary Fleet Safety Management (FSM) and Fleet Performance Management (FPM) systems.

U-Ming President C K Ong said, “U-Ming is committed to make the world a better place for our future generations. To achieve that, we are building a greener fleet using LNG, and to reduce GHG emissions and fuel consumption by improving vessel design and optimizing fuel efficiency. In our collaboration with Anglo American, we are pleased to be the first in the bulk carrier sector to be awarded a 10-year time charter. To demonstrate our long-term commitment to sustainability, we are also one of the first few carriers in the world to operate LNG-fuelled bulkers which have been shown to significantly reduce GHG emissions, and these newbuildings will be part of our fleet renewal and decarbonisation strategy. Going onward, we are committed to provide sustainable long-term green shipping solutions to our customers with the specific target of reducing greenhouse gas emissions by at least 30% in 2025, compared to 2013.”

In 2012, U-Ming began its Vessel Renewal Programme to build a high-performance, eco-friendly fleet for energy conservation and carbon reduction, and, despite the uncertainty of the pandemic, continued to invest in digitalisation and technology enhancement.

“While the Covid-19 pandemic has posed economic challenges, the maritime industry must not lose sight of the long-term challenges that the industry faces. With the successful implementation of IMO2020 earlier this year, decarbonisation is an ongoing trend and requires us to take further action. LNG-fuelled vessels can significantly reduce CO2 and NOx (nitrogen oxide) emissions, which will be benchmarked against the IMO’s target to halve carbon pollution from 2008 levels by 2050. U-Ming believes that this target will expedite the charters of LNG-fuelled bulk carriers in the industry, and the Company shall be at the forefront to leverage on this trend,” Ong concluded.

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