Yang Ming Marine Transport Corporation (“Yang Ming”) held its 406th Board Meeting on Oct 16, approving its subsidiary Kuang Ming’s plan to order four new Handymax bulk carriers to strengthen the subsidiary’s fleet competitiveness and profitability.
Kuang Ming boosts fleet with new orders
Kuang Ming, a subsidiary of the Yang Ming Group, is engaged in the bulk shipping business. The Company currently operates a fleet consisting of six Panamax bulk carriers and four Handymax bulk carriers, in addition to one long-term chartered Capesize vessel. Through fleet modernization and the adoption of high-efficiency vessel designs, Kuang Ming aims to enhance its core charter operations and overall operational performance. Handymax bulk carriers, ranging from 45,000 to 69,999 DWT, are designed to transport major commodities such as coal and grain, as well as minor bulk cargoes including bauxite, fertilizer, agricultural products, cement, and steel. The decision to order four new Handymax vessels will not only align with the anticipated growth in the bulk shipping market but also support the replacement of aging tonnage, improve fuel efficiency, and reduce greenhouse gas emissions, enabling Kuang Ming to better comply with the International Maritime Organization’s (IMO) decarbonization and emission-reduction requirements.
Yang Ming Group’s overall business development will be further strengthened through Kuang Ming’s fleet replacement program, alongside the continuous enhancement of its container shipping competitiveness with a modern, eco-friendly fleet and improved global transportation services. The Group will also accelerate its digital transformation to boost operational performance, optimize logistics capacity, and meet customers’ needs through customized solutions and value-added warehousing services. These advancements across its diversified business portfolio will reinforce Yang Ming Group’s foundation for sustainable growth.
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Source: AJOT
