ANZ Bank Taiwan has signed a US$ 50m sustainability-linked loan with U-Ming Marine Transport (S) Pte Ltd, a fully-owned subsidiary of U-Ming Marine Transport Corporation – one of Taiwan’s largest listed bulk carrier companies.
The loan will be used to fund U-Ming’s fleet renewal plan which includes the delivery of 11 new bulk carriers by the end of 2022. These vessels are featured with optimised hull design; energy-saving main engines and devices; ultra-low friction paint hull-coating and a fleet safety management system designed by U-Ming.
This sustainability-linked loan from ANZ Bank further demonstrates U-Ming’s long-term commitment to transforming its vessels into a modern, environmentally-friendly fleet which fully complies with the IMO carbon reduction targets.
CK Ong, U-Ming President, said: “We want to assure our customers that we are working towards the goal of operating an environmental-friendly fleet for the benefit of the next generation so that shipping is sustainable for our planet over the long term. We are committed to making significant investments in this goal and we aim to be a leader in our market.”
U-Ming has engaged DNV to ensure the targets are aligned with the sustainability-linked loan and U-Ming’s business strategy. The Company has a fleet of 60 vessels in operation, under construction, joint ventures and ship management services; deadweight of 8.25m dwt. The average age of the owned bulk fleet is about 6.5 years. Besides the subsidiaries in Hong Kong, Singapore and China Xiamen; U-Ming Marine Offshore was recently set up to provide offshore wind maritime transportation services in Taiwan.
ANZ Taiwan country Head Hong Swee Lau said: “ANZ Taiwan is excited to support U-Ming Marine on this sustainability-linked loan. As one of the largest bulk carriers in Taiwan, U-Ming marine has the scale to make a significant impact through its sustainability agenda in the industry and its strategy aligns with ANZ’s ambitions to help drive the global transition to net zero.”
