Taiwan-based U-Ming Marine Transport Corporation (U-Ming) has planned to sell two more elder ships in the second half of the year. The company now owns a fleet of 50 vessels.

U-Ming’ s net profits faced great pressure in the last two years. The company chose to sell elder ships and its shares in other subsidiaries to keep its margins.

U-ming has also placed orders for new vessels while disposing of elder ships. The company ordered four Kasarmax units at Oshima Shipbuilding and six Capesizes bulkers at Shanghai Waigaoqiao Shipyard. The later contract also includes four optional units.