Partnership U-Ming Marine Transport has entered the LNG shipping market through a new partnership with Japan’s K Line, reports Lloyd’s List.
Joint venture for LNG carriers
The Taiwanese owner announced that the two companies are collaborating through a newly established joint venture, KMU LNG Shipping, focused on LNG carrier operations.
Under the cooperation framework, U-Ming and K Line have jointly invested in a 174,000 cu m LNG carrier currently under construction at Samsung Heavy Industries in South Korea.
The vessel, scheduled for delivery in 2026, will feature the latest energy-efficient and eco-friendly technologies, including a dual-fuel engine.
This move follows U-Ming’s announcement last June of its intention to enter the gas business as part of its fleet expansion plans to reach 100 vessels.
U-Ming is best known for its fleet of bulkers and cement carriers, which also includes tankers and crew transport vessels. With a total capacity exceeding 9.5m dwt, the company owns and operates a mixed fleet of 79 vessels.
The debut in LNG shipping reflects U-Ming’s commitment to diversifying and enhancing its core shipping operations, while strengthening its ability to address future challenges, the company said.
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Source: Lloyd’s List
