Kuang Ming, the subsidiary of Taiwanese liner company Yang Ming Marine Transport Corporation, got the “green light” to order four new handymax bulk carriers. The company has made a move to rejuvenate its bulker fleet with new ships.
Taiwanese liner company Yang Ming held its 406th board meeting and approved the plan of its subsidiary to order four vessels as part of its ongoing fleet optimization plan.
Kuang Ming currently operates a fleet consisting of six panamax bulk carriers and four handymax bulk carriers, in addition to one long-term chartered capesize vessel.
It did not disclose the cost of the newbuildings or the name of the shipyard.
According to Yang Ming, these newbuildings are expected to enhance its subsidiary’s core charter operations and overall operational performance.
The handymax bulk carriers, ranging from 45,000 to 69,999 dwt, are designed to transport major commodities such as coal and grain, along with minor bulk cargoes including bauxite, fertilizer, agricultural products, cement, and steel.
Yang Ming said the move to order the handymax vessels reflects Kuang Ming’s plan to modernise its fleet with a modern, eco-friendly fleet that supports fuel savings and lower greenhouse gas emissions, in line with the International Maritime Organization’s (IMO) decarbonization and emission-reduction requirements.
The company added that its overall business development will be further strengthened through Kuang Ming’s fleet replacement program.
