Taiwan-based bulk carrier U-Ming Marine announced April 8 it has taken delivery of an 85,000dwt post-Panamax bulker to continue its fleet expansion programme.

The ship, named Cemtex Honor, was built by Japanese Oshima Shipbuilding, which is the third of the 85,000dwt post-Panamax series built by the shipbuilder for U-Ming Marine. The carrier had ordered four 85,000dwt post-Panamaxes and four Ultramaxes from Oshima Shipbuilding.

The ship was built to the latest eco-friendly designs, which can save fuel by at least 25% and release CO2 emission lower than IMO's reference value by 26%, according to U-Ming Marine.

Since 2012, U-Ming Marine has decommissioned eight older vessels and added 16 new ones to achieve a more competitive fleet portfolio, stated the company. Currently, there are nine new vessels - four Capesize vessels at Shanghai Waigaoqiao Shipbuilding, one post-Panamax, and four Ultramaxes - at Japan's Oshima Shipyard that are expected to be delivered by 2017. The average age of U-Ming Marine's fleet then will be less than seven years.

Despite many unforeseen challenges in the bulk shipping market, the expected improvement in the global economic climate is set to be conducive for the demand growth of bulk raw materials, according to U-Ming Marine.

The carrier expects the ongoing infrastructure construction and development in emerging countries such as China and India to continue, and the funding support from the Asian Infrastructure Investment Bank, BRICS Development Bank, and the Silk Road fund will promote and accelerate the building of the Silk Road Economic Belt and the 21st century Maritime Silk Road.