Taiwanese liner major Yang Ming Marine Transport has re-entered the newbuilding market through its bulk shipping subsidiary Kuang Ming Shipping, placing orders for four ultramax bulk carriers at Japanese shipyards.
According to a stock exchange filing, the contracts carry a combined value of NT$4.9bn–NT$5.4bn (approximately $155m–$171m), underlining the group’s longer-term confidence in dry bulk market fundamentals.
The order includes two ultramax vessels at Nihon Shipyard and Imabari Shipbuilding, each priced between NT$1.2bn and NT$1.4bn, and two additional ultramaxes contracted at Oshima Shipbuilding in collaboration with Sumisho Marine, at similar price levels. Delivery schedules have not been disclosed.
Kuang Ming Shipping currently operates a fleet of 11 bulk carriers, comprising 10 owned vessels ranging from ultramax to kamsarmax segments, along with a long-term chartered capesize.
Established in 1990, Kuang Ming originally functioned as a booking agent supporting Yang Ming’s container shipping operations. The company diversified into dry bulk shipping in 2008 as part of the group’s broader expansion strategy.
The latest contracts mark Kuang Ming’s first newbuilding orders in nearly a decade. Its previous newbuild programme involved four ultramax vessels ordered at Iwagi Zosen between 2014 and 2015, which were delivered between 2016 and 2018.