U-Ming bullish on global recovery, rise in iron ore By Kao Shih-ching / Staff reporter U-Ming Marine Transport Corp (裕民航運), a bulk shipper and member of Far Eastern Group (遠東集團), is upbeat about the bulk shipping business in the coming quarters on expectations of a recovery in the global economy, a rise in iron ore production and an expansion of grain exports from the US, the company said yesterday. U-Ming reported net profit of NT$345.81 million (US$12.43 million) for the first quarter of this year, or earnings per share of NT$0.41, compared with a net loss of NT$384 million in the same period of last year.