U-Ming Marine Transport (Singapore), a fully owned subsidiary of Taiwanese carrier U-Ming Marine, on Aug. 6 took delivery of a 85,066dwt bulk carrier from Japanese shipyard Oshima Shipbuiding.

MV Cemtex Fortune is the last vessel in a series of four post-Panamaxes the carrier had ordered from the shipbuilder.

The carrier has de-commissioned eight older vessels and added 17 new ones since 2012.

In line with its fleet renewal and expansion program, U-Ming has ordered four 85,066dwt post-Panamaxes and four 62,000dwt Ultramaxes from Oshima Shipbuilding since 2010.

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

A huge impact on the forthcoming steel demand is also projected, which, will drive the raw material shipping volume, according to U-Ming.

U-Ming now has seven new ships under construction, including three Capesizes at Shanghai Waigaoqiao Shipyard and four Ultramaxes at Oshima Shipyard, which are forecast to be delivered by 2017.