Wisdom Marine cancels plan to enter tanker sector

Wisdom Marine cancels plan to enter tanker sector

Taiwanese owner Wisdom Marine has cancelled plans to build two 115,000dwt aframax tankers at Japan Marine United.

Wisdom Marine approved a proposal to order the two newbuildings at the Japanese yard for a total price of $100m in June 2016, which would have marked the company’s entry into the tanker sector.

The company said cancellation of the plan is mainly due to changes in operating plans and the market environment, adding that no financial impact will be caused by the cancellation as no official contract was signed for the deal.

Wisdom Marine currently operates a dry bulk fleet of around 120 vessels.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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