Wisdom Marine aborts plan to build new aframax pair at Japanese yard

Taiwan’s Wisdom Marine has aborted a plan to build two new 115,000-dwt aframax tankers at Japan Marine United Corporation.

In June 2016, Wisdom Marine approached the Japanese shipyard with the intent to build the pair of aframax newbuildings for a total price of $100m.

The Taiwanese shipowner announced last Friday that the cancellation has no impact for the company as the two parties have not signed a binding contract for the new vessels and no financial transactions have been made.

“The newbuilding plans were aborted due to changes in our operational plans and conditions of the market, as well as taking into consideration the interests of our shareholders,” Taipei-listed Wisdom Marine stated.

The order was supposed to be Wisdom Marine’s first move into the aframax sector. According to the company website, Wisdom Marine operates a fleet of 120 ships, among which just 16 are supramax tankers and the rest are bulk carriers of mainly handysizes.

Posted 25 September 2017

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Lee Hong Liang

Asia Correspondent

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