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Wisdom Marine improves earnings in Q3

Wisdom Marine improves earnings in Q3
Taiwan’s dry bulk shipowner Wisdom Marine has improved its third quarter results with an almost doubling of net profit.

Profit for the third quarter ended 30 September 2015 was recorded at $22.78m, representing a jump of 80.9% from $12.59m posted in the same period of last year.

Revenue for the three-month period also went up by 16.7% year-on-year to $88.86m, Wisdom Marine announced to the Taipei Stock Exchange.

The improved earnings came amid the sluggish dry bulk shipping market where rates have been under pressure due to the prolonged tonnage oversupply and lack of cargo demand, particularly from China.