Taiwanese shipping company Wisdom Marine Lines, a subsidiary of Wisdom Marine Group has announced that it has receive approval to purchase a 38,000 bulker.
The company informed World Maritime News that payment will be made in installments for the unit which cost USD 23.5 million. Details about the vendor and the ship is not yet disclosed.
According to World Maritime News, Wisdom Marine Group said that the Board of Directors approved the company’s capital injection into Wisdom Marine Lines, a 100% owned subsidiary of the group.
Wisdom Marine Lines hopes to raise fund through common shares to acquire new vessels and further expand its fleet.