Taipei, Taiwan – July 24, 2025 – U-Ming Marine Transport Corporation (UMTC), one of Asia’s leading bulk shipping operators and a core member of Taiwan’s Far Eastern Group, has reached a pivotal milestone in its green transition. On July 24, U-Ming announced that its 64,000 DWT Ultramax bulk carrier MV Asian Progress successfully completed its first bunkering of FAME B24 biofuel at the Port of Singapore.
The operation was carried out in partnership with TFG MARINE PTE LTD, which supplied 300 metric tons of B24 biofuel. This blend is expected to reduce well-to-wake carbon emissions by approximately 20% compared to conventional marine fuels—aligning with U-Ming’s short- and mid-term goals of significantly increasing low-carbon fuel use by 2030 and achieving net-zero emissions by 2050.
“The successful bunkering of Asian Progress is more than just a technical milestone—it’s a signal of our resolve to transform U-Ming’s fleet and operations for the climate-responsible future of global shipping,” said a U-Ming spokesperson.
While U-Ming has been steadily increasing its use of liquefied natural gas (LNG)—which accounted for 8.15% of its total energy mix by 2024—the company acknowledges practical limitations in retrofitting smaller vessels with LNG tanks due to space constraints.
To address this, U-Ming began trialing biofuels on its ultra-flexible vessel Yuzhan, setting the stage for broader adoption across its smaller ships. The Asian Progress bunkering now represents the formal start of this broader strategy, opening a scalable path to decarbonize more compact vessels without the need for structural modifications.
B24 biofuel is a renewable marine fuel blend consisting of 24% Fatty Acid Methyl Ester (FAME) biodiesel mixed with conventional marine diesel oil. This blend helps reduce carbon emissions and pollutants compared to traditional fossil fuels, offering a practical and scalable solution for decarbonizing shipping operations. By using B24, vessels can achieve significant lifecycle carbon savings—approximately 20% reduction in well-to-wake emissions—without requiring major modifications to existing engines or fuel systems, making it an ideal option for both large and smaller ships.
Commissioned on March 10, 2025, and built by New Ocean Shipbuilding Co., Ltd., Asian Progress is a next-generation Ultramax bulk carrier designed with efficiency and sustainability in mind.
Key technologies onboard include:
U-Ming operates a fleet of 80 vessels—owned, joint venture, and under construction—totaling approximately 9.6 million DWT. The company’s diversified fleet includes:
Headquartered in Taipei, U-Ming has global offices in Singapore, Hong Kong, and Xiamen, and a dedicated green-energy subsidiary in China, U-Ming Wind Energy Shipping Company.
The company’s ESG leadership has earned it consistent recognition:
U-Ming was also ranked in Business Weekly’s Carbon Competitiveness Top 100 and listed in the 2024 Taiwan FINI100 for excellence in market strength, fundamentals, and sustainability.
Established in 1984 and listed on the Taiwan Stock Exchange since 1990, U-Ming Marine Transport Corporation (UMTC) is a global shipping leader specializing in dry bulk, raw material, and energy transportation. Driven by the Far Eastern Group’s core values—Sincerity, Diligence, Thrift, Prudence, and Innovation—U-Ming aims to be the first choice for customers, employees, and investors, while leading the industry toward a cleaner, more resilient future.
