Kuang Ming Shipping, the dry bulk subsidiary of Taiwan’s Yang Ming Marine Transport, is returning to the newbuilding market with plans approved to order four vessels.
The newbuilds, sized between 45,000 and 69,999 dwt, will be capable of transporting major bulks such as coal and grain, along with smaller cargoes including bauxite, fertilizer, cement, steel, and agricultural products.
Yang Ming said the move reflects Kuang Ming’s plan to modernise its fleet through high-efficiency vessel designs that support fuel savings and lower greenhouse gas emissions, in line with the IMO’s decarbonisation requirements, adding that the newbuilds will also help replace older tonnage and strengthen the company’s position in the charter market.
Founded in 1990, Kuang Ming initially acted as a booking agent for Yang Ming’s container business before moving into dry bulk shipping in 2008 as part of the group’s diversification strategy. The company currently operates 11 bulkers—10 owned ships ranging from ultramax to kamsarmax vessels, and one chartered capesize unit.
The latest announcement marks Kuang Ming’s first newbuilding move in nearly a decade. The last campaign saw four ultramaxes ordered from Japan’s Iwagi Zosen between 2014 and 2015, delivered between 2016 and 2018.
