U-MING Marine Transport Corporation, Taiwan’s largest publicly listed bulk carrier company, has secured its first sustainability-linked loan of US$45m with E.SUN Commercial Bank.

To secure the SSL, U-Ming underwent a rigorous due diligence process that evaluated the company’s financial strength as well as environmental, social and corporate governance credentials.

The SSL also incorporates an incentive scheme linked to pre-determined ESG targets, where U-Ming will enjoy a discount on interest rates and save borrowing cost once these targets are achieved. The accomplishment of these targets will be verified by an independent third party.

This loan facility will be used to purchase one LNG Dual Fuel Tier III 190,000 DWT bulk carrier, which has been awarded a 10-year dual fuel dry bulk charter contract by Anglo American, a leading global mining company together with another three LNG Dual Fuel bulk carriers in November 2020.

This bulk carrier, with a length of about 299m and width 47.5m, are built with the concept of energy-saving and sustainability.

The newbuilds will be powered by liquefied natural gas and fitted with MAN Energy Solutions’ high-pressure ME-GI engines to further reduce their environmental footprint with negligible levels of methane slippage.


To further increase fuel efficiency, U-Ming will be investing and installing other energy-saving devices such as a Mewis duct, propeller boss fin and alpha lubricator. The new vessels will also be equipped with U-Ming’s proprietary Fleet Safety Performance and Fleet Performance Management systems supported by its operation centre, enabling near real-time speed, weather and route updates, thus further saving fuel and ensuring safe navigation.

U-Ming president Mr C.K Ong, said, “U-Ming once again demonstrates our accountability and transparency to achieve an international ESG standard.

“U-Ming is one of frontrunners to operate LNG dual-fuelled bulk carriers even though they are currently more costly to build. We are especially delighted that our commitment is recognised by E.SUN Bank.

“We will continue our U-Ming’s fleet renewal and decarbonisation strategy by fostering co-operation with industry stakeholders including the ship financing sector,” he said.