U-Ming Marine Transport (Singapore), a fully-owned subsidiary of U-Ming Marine Transport Corporation, has held a christening ceremony at Qingdao Beihai Shipyard for M.V. Grand Wisdom, its second 325,000 dwt Very Large Ore Carrier (VLOC).
The vessel is equipped with an advanced MAN B&W main engine, and embedded with LNG ready design concept, allowing flexibility to transform the ship into LNG dual-fuel in the future.
The VLOC is the second VLOC built for U-Ming by Qingdao Beihai Shipbuilding to operate under the 25-year Contract of Affreightment (COA) awarded by Vale International SA of Switzerland (Vale), one of the world’s top 5 iron ore producers, for transporting Brazilian iron ore to China.
The total contracted value of this COA is more than $600 million enabling the company to secure a bigger portion of long-term contracts with stabilized revenue and profit.
M.V. Grand Wisdom has a length of 339.9 meters, width of 62.0 meters and a deadweight of 325,000 metric tons.
The vessel is also equipped with a SOx Scrubber, in compliance with the International Maritime Organization’s 2020 global sulphur limit.
It is also described as having ultra-low fuel consumption performance and its EEDI standard above international regulations.
“U-Ming recognizes that after energy-saving eco-ships, the next industry trend and optimization opportunity will be the introduction of Smart-ship through digital technology. Under the strategic business plan, U-Ming’s management team has identified Performance Enhancement (PE), Condition Monitoring Enhancement (CME), Reliability and Security Enhancement (RSE) as the key focus for intelligent vessels’ development at this stage,” U-Ming said.
The completion and delivery of M.V. Grand Wisdom will be awarded three SmartShip (PE, CME, RSE) notations by the DNV GL Classification Society.
The ship also features proprietary Fleet Safety Performance (FSM) and Fleet Performance Management (FPM) systems, supported by the company’s Operations Center, enabling near-real-time data for speed, weather and route monitoring thus saving fuel and ensuring safe navigation.
These platforms can also grasp the operational status of ship critical equipment and execute preventive maintenance to avoid unnecessary breakdowns and delays.
U-Ming is counting on the recovery of demand for shipping driven in great part by governmental support measures as well as demand for raw material from China.
The International Monetary Fund (IMF) estimates that China will be the only country in the G20 that will show positive economic growth this year.
“In the post-epidemic era, U-Ming will continue to form strategic alliances and to secure long-term freight partnerships with reliable customers ensuring constant revenue and profit to sustain our business. The company will also pursue its ongoing digital transformation towards a smart fleet through a reliable ship safety system; and leverages on its prudent and efficient management team to enhance its branding and core competitiveness,” the company added.
U-Ming owns and operates a total of 50 vessels including those that are in operation, under construction, joint ventures and ship management services.