The dry bulk shipowner posted a net profit of TWD1.56bn ($51.57m) last year, down from TWD1.82bn in 2012.
Revenue also dropped to TWD7.14bn from TWD7.64bn a year ago.
The dry bulk shipping market has been impacted by low freight rates due to an oversupply of ships, while operating costs have been climbing due to high bunker fuel prices.
U-Ming has managed to bring down its operating costs to TWD6.36bn in 2013 from TWD6.76bn in the previous year.
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