A cash injection for U-Ming
The ANZ Bank Taiwan has agreed upon a USD 50 million loan with bulk carrier U-Ming Marine Transport. The money will be invested in U-Ming’s fleet renewal and switch to more sustainable units. In April 2021, U-Ming had already secured its first sustainability-linked loan (SLL) of USD 45 million with the E. Sun Commercial Bank.
Eleven new bulk vessels, to be delivered by the end of 2022, will feature an optimised hull design and -coating, energy-saving main engines and further devices to lower emissions and consumption.
U-Ming has also engaged an external reviewer, the classification society DNV, to ensure that the targets are aligned with the sustainability-linked loan and U-Ming’s business strategy.
Currently, the company has a fleet of 60 vessels in operation, under construction, joint ventures and ship management services, totalling a deadweight of 8.25 million t. The average age of the owned bulk fleet is about 6.5 years.
Besides the subsidiaries in Hong Kong, Singapore and China Xiamen, U-Ming Marine Offshore was recently set up to provide offshore wind maritime transportation services in Taiwan. (sh)