Bulk carrier M.V. Cape Success joined U-Ming’s fleet for continuing fleet renewal program
U-Ming Marine Transport (Singapore) Pte. Ltd., a fully-owned subsidiary of U-Ming Marine Transport Corporation, had commissioned Shanghai Waigaoqiao Shipbuilding Co., Ltd., a subsidiary of China State Shipbuilding Corporation (CSSC), to build the 188,000 DWT Bulk Carrier “M.V. Cape Success”. The Christening and Delivery Ceremony was hosted by Mr. Douglas Hsu, Chairman of the Far Eastern Group on December 18, 2015 at the Shanghai Waigaoqiao Shipyard. Ms Holly Lye, wife of Mr Peter Lye – Head of Shipping of Anglo American plc, was invited to christen the vessel. The successful ceremony was well attended by many business associates and distinguished guests.
Since 2010, U-Ming has been seizing the opportunity to order new fuel-efficient and environmental-friendly vessels at attractive low prices which include the 8 x 188,000 DWT Cape-size series vessels from Shanghai Waigaoqiao Shipyard. M.V. “Cape Success” is the sixth such Eco-ship to be delivered after the launch of M.V. “Cape Excelsior” in April 2015; she is also the tenth Cape-size vessel delivered by the Waigaoqiao Shipyard to U-Ming so far.
M.V. Cape Success is designed with a length of 299.8 meters; width 47.5 meters and deadweight of 187,888 tons. Besides having a streamlined hull that utilizes low resistance anti-fouling paint, a ballast water treatment system and various energy-saving machinery and equipment, the vessel is also equipped with the new G70 type-ME engine thus overall reducing the fuel consumption by as much as 20%. Moreover, the increased cargo carrying capability also enhances U-Ming’s market competitiveness. The overall environmental protection standard achieved from these new vessels has surpassed the current international standard set thus they are deemed as a role model in the industry.
During the United Nations Climate Change Conference (COP21) which was held in Paris recently, there has been much debate over the carbon dioxide emissions attributable to international shipping; thus the maritime industry will be subject to much more environmental scrutiny in time to come. Major charterers have already come forward to announce their use of the Greenhouse Gas (GHG) Emissions Rating and Energy Efficiency Design Index (EEDI) to include vessels’ efficiency in their supply chain.
Similar to the past 5 x 188,000 DWT series delivered, Cape Success’ Energy Efficiency Design Index (EEDI)’s reduction factor of 20.3% is much improved than the International Maritime Organization (IMO)’s current reference value. U-Ming’s recent new building deliveries and ongoing constructions for Post-Panamaxes, Very Large Crude Carriers (VLCC) and Ultramaxes bulk carriers have been adopting the similar low EEDI designs thus enhancing U-Ming’s green image and competiveness.
Despite the many unforeseen challenges in the bulk shipping market, U-Ming has been maintaining its market competiveness in the forefront through its regular adoption to market changes and its ECO-friendly fleet renewal and expansion. The ongoing infrastructure construction and development in the emerging countries such as China and India is expected to continue. This will be compounded by the promotion and acceleration of the building of the Silk Road Economic Belt and the 21st Century Maritime Silk Road; which would have an impact on the forthcoming steel demand and in turn driving the raw material shipping volume. On the ship supply side, with the current decline ordering of the dry bulk vessels due to the persistent of negative market sentiment and the continuing scrapping of the older vessels, the pressure of over-supply situation is expected to ease gradually.
In addition, U-Ming has set its sight on transforming the fleet management functions. The Company, through its Senior Vice President, Mr Jeff Hsu, has partnered Ericsson recently to deliver the end-to-end connected vessel and voyage optimization solutions. This system enables near-real-time data collection on vessels’ location and movement; and monitors vessels’ speed against manually set planned speed thus allowing the Company to optimize fuel consumption. By facilitating real-time information flows, the system will improve visibility from ship to shore and support process automation, which will reduce U-Ming’s overall costs and improve efficiency.