Wisdom Marine raising cash for fleet expansion –

Taiwanese bulk shipping operator Wisdom Marine has announced a plan to raise $63.8m from its current shareholders.

The share offering will see the company issue 63,808 new shares to shareholders, with proceeds to be used for the addition of new ships. The funds add to $13.3m raised in May.

Earlier this month, Wisdom ordered five bulk carriers at two Japanese yards with delivery scheduled in 2021 and 2022.

Wisdom owns a fleet of around 130 bulk carriers, and has another 10 bulkers on order at various Japanese yards.

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