Taiwanese bulker owner Wisdom Marine is looking to evaluate the feasibility of expanding its presence in the LPG market this year as it takes delivery of its first LPG carrier.
Wisdom Marine ordered a 6,400dwt LPG carrier at Japan’s Murakami Hide in 2016 and the vessel, named Joseph Wisdom, is set for delivery next month.
James Lan, chairman of Wisdom Marine, said at a recent shareholding meeting that Wisdom Marine will continue its diversification strategy and the company will trial run the first LPG carrier and evaluate the market before deciding whether to further expand into the sector.
Last year, Wisdom Marine cancelled plans to order two 115,000dwt aframax tankers at Japan Marine United and enter the tankers segment due to changes in operating plans and market environment.
According to VesselsValue, Wisdom Marine currently operates over 120 bulkers, one car carrier and three boxships.