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Wisdom Marine records lower full year profit

Wisdom Marine records lower full year profit
Taiwan's dry bulk shipowner Wisdom Marine has recorded lower profits in 2013 over the previous year due to higher operating costs.

The Taipei-listed shipowner posted a full year profit of $48.47m, a drop of 31.8% compared to a profit of $71.02m in 2012.

Revenue was stable at $280.49m but operating costs jumped to $223.68m from $198m over the same period.

Wisdom Marine currently listed a fleet strength of 89 bulk carriers and it is further expected to take in more newbuildings constructed at Japanese shipyards.