Wisdom Marine in Ship Acquisition Mode

Wisdom Marine Lines Taipei-based shipping company Wisdom Marine Lines informed that its board of directors has approved the purchase of one 63,700 dwt bulk carrier.  As informed, the ship will be bought from Chijing Shipping. Wisdom Marine said it will pay USD 26.5 million in installments until the delivery of the bulker. The purpose of the acquisition for Wisdom Marine is to better manage its fleet portfolio. Separately, the company said that its board of directors has also approved a capital injection into Wisdom Marine. The capital injection is subject to the issuance of new shares. A total of 25,828 common shares are to be issued at a price of USD 1,000. The company added that the proceeds from the offering, totaling USD 25.8 million, will be used for cash capital increase. The reason for the offering is the acquisition of new vessels, as explained by the company. What is more, Wisdom Marine announced the extension of Adixi Wisdoms monetary loans intended for purchasing newbuilding vessels. Namely, the company has increased the loan amount of USD 5.5 million and extended the period of the original amount of USD 12 million. World Maritime News Staff