Wisdom Marine Aborts Plan for 2 New Tankers

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Image is for representational purposes only. Courtesy: Daniel Rodricks @danielrodricks

Wisdom Marine drops a plan to build 2 new 115,000-dwt aframax tankers at Japan Marine United Corporation.

The company approached the Japanese shipyard in June, 2016 with an intention to build the pair, which were valued at USD 50 million per vessel. With the current move, the company’s intention of venturing into the tanker market has been shelved.

“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 to mark Wisdom Marine’s first move into the aframax sector.