Christening of U-Ming's new eco-friendly post panamax bulk carrier

March 14 2022 Print This Article

Yumin Shipping, one of the nine listed companies under the Far East Group, signed a contract with Japan's Sumitomo Marine Co. Ltd. to build 99,990 ships at Oshima Shipbuilding Co., Ltd. The Post Panamax bulk carrier "Cemtex Excellence" a "Cloud Naming" ceremony at Japan's Oshima Shipyard, and simultaneously used it in Taipei. The video-connected viewing of the ceremony allowed guests from Taipei and Oshima, Japan, to participate in the grand event as if they were there. The ceremony was presided over by Xu Xudong, Chairman of Far East Group, and Mrs. Chen Yuchun, wife of Zhang Jiazhu, Chairman of China Development Financial Holdings, was invited to name "Yuzhuo Wheel". Witnessed by Chairman Xu Xudong, Chairman Zhang, Ms. Chen and many guests, the ceremony was successfully completed, and the new ship is expected to be officially delivered for operation on March 14.

Yuzhuo Ship is 235 meters long, 40 meters wide and 99,990 dwt. It is the first ship in the 99,990 dwt Post Panamax series newly designed and built by Oshima Shipyard for Yumin Shipping. The concept of environmental protection and the addition of intelligent elements are conducive to improving fault warning, reducing failure rate and improving operational efficiency through the management of the ship network. Energy saving and emission reduction adopt the characteristics of low-speed sailing, fully grasp the innovative design of ships, adopt narrow and long streamline bridge design and optimize the hull line shape, reduce wind and water flow resistance, further reduce fuel consumption, and increase competitive advantage.

Looking at the global economy, countries are currently striving for infrastructure construction, and the demand for raw materials is booming, driving the rise in bulk shipping rents. However, due to factors such as the epidemic, Sino-US trade and European border conflicts, the operating environment is still full of uncertainty. Yumin believes that as IMO and the European Union have successively introduced more stringent new environmental protection regulations, such as the Energy Efficiency Index (EEXI) and Carbon Intensity Index (CII) of Operating Ships, which will be on the road in January 2023, ships that do not meet the EEXI standard will face restrictions on main engine horsepower. and sailing speed or allocate funds to install energy-saving devices. The requirements of energy saving and emission reduction will accelerate the replacement of old ships. The series of eco-ships delivered by Yumin since 2014 will fully demonstrate their competitiveness.

Since the second half of 2020, the container shipping boom has risen sharply. Shipyards have given priority to building container ships, reducing the kinetic energy of bulk shipbuilding, effectively curbing supply, and moderately recovering demand. According to Clarksons' Dry Bulk Trade Outlook data in February 2022, the growth rate of bulk ship supply is expected to be only 2.1% in 2022, but the growth rate of dry bulk shipping extended ton and sea shipping demand is estimated to reach 2.5%, and the market capacity will continue to be in short supply in 2021. It is expected that the prosperity of bulk shipping will continue to be cautiously optimistic.

In the post-epidemic era, Yumin will continue to deploy externally and seek strategic alliances. On the other hand, it will sign long-term contracts with high-quality customers to lock in profits. Internally, it will actively integrate organizational resources and develop environmental protection and smart ships through inter-departmental teamwork. Provide sustainable and diversified services, while promoting digital transformation, cultivating efficient teams, and strengthening core competitiveness.
Yumin Shipping currently has Capesize, Panamax, Post Panamax, Supramax, Ultramax, cement carrier, very large oil tanker (VLCC) and very large ore carrier (VLOC) and offshore wind power personnel carrier (CTV) and other ship types. The age of about 6.5 years, plus the joint venture and ships under construction, the fleet capacity of Yumin is 60 ships, with a total deadweight tonnage of 8,252,800 tons. There are overseas subsidiaries in Singapore, Hong Kong and Xiamen, and domestic subsidiaries focusing on green energy transportation. Company Yumin Wind Energy Shipping Company.