Dry CargoGreater China

Wisdom Marine raising cash for fleet expansion

Taiwanese bulk shipping operator Wisdom Marine has announced a plan to raise $63.8m from its current shareholders.

The share offering will see the company issue 63,808 new shares to shareholders, with proceeds to be used for the addition of new ships. The funds add to $13.3m raised in May.

Earlier this month, Wisdom ordered five bulk carriers at two Japanese yards with delivery scheduled in 2021 and 2022.

Wisdom owns a fleet of around 130 bulk carriers, and has another 10 bulkers on order at various Japanese yards.

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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