Dry CargoTankers

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 is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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