Wisdom Marine News

Taiwan-based dry bulk shipowner Wisdom Marine Group and Singapore-based ship management company Synergy Group have announced a new joint venture (JV).Wisdom Synergy Ship Management (WSSM) will be headquartered in Singapore with key operational centres in Taiwan and India and will provide technical management for Wisdom’s diverse fleet.Last year, Wisdom chose Synergy Group to provide management services for a portion of its fleet.The JV cements a collaborative relationship established in 1999 by James Lan, Chairman of Wisdom Marine Group.

Japanese shipbuilder Kawasaki Heavy Industries Ltd (KHI)  has delivered the bulk carrier Amis Star, with a capacity of 61,000 DWT for Wisdom Marine Lines.Amis Star has overall  length of 199.90 m, molded breadth 32.24 m and  molded depth 18.60 m.The vessel has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products.Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy, including an energy-saving…

Taiwanese shipping company Wisdom Marine Lines has taken delivery of a 34,000 dwt bulker newbuilding.The newbuild Bulker, MV Daiwan Miracle, was handed over to Wisdom Marine in Japan on April 2, 2019, after completing sea trials in March, said Wisdom Marine Group, the largest dry bulk shipowner in Taiwan by number of vessels.MV Daiwan Miracle is an eco-ship built by Namura Shipbuilding Co, Japanese shipbuilding and repairing company.Featuring a length of 179.9 meters and a width of 30 meters, the handy bulker has a capacity of 44,100 cubic meters.MV Daiwan Miracle flies the flag of Liberia. Wisdom Marine’s fleet has a fleet of 143 vessels, 14 of which are newbuildings as at June 30th, 2018.

Maritime NZ detained the Panama-flagged bulk carrier Daiwan Justice on Saturday, March 2, 2019, at Lyttelton after a complaint the crews’ wages had not been paid for almost four months.Maritime NZ Southern Regional Compliance Manager Michael Vredenburg said, the detention was lifted later on Saturday after the ship’s operator, Taiwanese company, Wisdom Marine International Limited, paid the crew.Last year Daiwan Fortune, another Wisdom Marine International ship, was also detained.

Wisdom Marine Lines Co Ltd says its board agrees to buy two bulk carriers from Imabari Shipbuilding for up to $49 million.   Reuters / Beijing Headline News

Shipbuilding orders for drybulk carriers, tankships, containerships and a RoRo were placed in the past week according to 'Clarkson Hellas S&P Weekly Bulletin'. Cara Shipping, the shipping arm of Chinese domestic company Rizhao Steel, has placed orders for two further 250,000dwt VLOCs at Beihai shipyard. These are declared options with both vessels understood by Clarkson Hellas to be delivering in 2016. Wisdom Marine has continued to expand its orderbook in Japan, announcing an order for a 62,000 dwt bulker at Oshima, to be delivered in 2017 as well as a 37,600 dwt Handysize bulker at Imabari again for delivery in 2017. Whilst as yet unconfirmed…

Clarkson Hellas notes that Oldendorff Carriers have declared their options for six 64,000 DWT Ultramax at Qingshan Shipyard and one 94,000 DWT self-unloader at Jiangsu New YZJ. Pricing was not disclosed, but delivery is reported to be from 4Q in 2016 for the Ultramax and due in 2Q 2015 for the self-unloader. From Japan, Namura have signed two 81,700 DWT Kamsarmax with the Taiwanese owner Wisdom Marine for delivery in 2016. In the larger sizes, Sincere Navigation have declared their option for one 250,000 DWT ore carrier, taking the series to two vessels. The vessel will be delivered in 2016.

Far East shipbuilders scoop the pool of latest big ship newbuilding orders reports Clarkson Hellas in their latest Weekly  S+P Bulletin. This week Clarkson Hellas say that Bocimar has announced an order for two firm 206,000 DWT Newcastlemax and one firm 180,000 DWT Capesize at Imabari, with delivery of all three vessels in 2016. Also at Imabari, Wisdom Marine announced an order for two firm 81,000 DWT Kamsarmax. Pricing is understood to be in the region USD 33-Millionper vessel with delivery in 2016.

Container ship newbuildings figure most active in the latest weekly news from Clarkson Hellas, with the majority of orders placed with China and Korea shipbuilders. Clients of Diana Shipping reports Clarkson Hellas in its Weekly Bulletin have announced a further order for one 82,000 DWT Kamsarmax at Sinopacific’s Dayang facility. Based on the Sinopacific MHI 82 design, the vessel is planned for delivery in the second quarter of 2016. Jinling Shipyard took an order for four firm 64…

Wisdom Marine is one of the largest bulk ship owners in Taiwan with a market capitalisation of US$490-million, which represents the largest Asian IPO by market capitalisation in London to date in 2013, say law firm Proskauer . It is also the first company in the region to issue GDRs on London’s Main Market. Global law firm Proskauer advised Wisdom Marine Group in its initial public offering of Global Depositary Receipts (GDRs), admission to the Official List and trading on the Main Market of the London Stock Exchange.

Ship owners trend towards larger ship sizes in the latest round of newbuilding orders reported in Clarkson Hellas S&P Weekly Bulletin. Oldendorff Carriers has contracted for four firm plus up to four option 208,000 dwt Newcastlemax from Taizhou CATIC. The first two vessels are due for delivery in 2015 with the remaining firm vessels and options lined up for delivery in 2016. Also in China, SWS are understood to have taken an order for four firm 208,000 dwt Kamsarmax from Clients of Cardiff Marine. Similarly delivery of the firm vessels is split between 2015 and 2016.

The newbuilding market has continued to remain active with various new orders being reported placed in a variety of the conventional sectors, including both the Dry, Container markets and PCTC’s, reports the Clarkson Hellas S&P Weekly Bulletin. In the dry bulk market we continue to see a steady stream of orders surfacing in the handymax sector, whilst the other sectors have seen a range of sizes being contracted. In Dry: clients of Spar shipping are reported to have placed an order at Hantong Shipyard for a pair of SDARI Dolphin 64K bulkers. These vessels follow a variety of ultramax orders at the yard this year and are expected to deliver in 1H 2015, pricing stands in the region of USD 25 Mill.

Reported ordering has been focussed primarily on smaller sizes with Handysize and Supramax seeing the majority of orders. According to the recently released Clarkson Hellas S&P Weekly Bulletin, Japanese yards appear to have had their fair share of the orders  with JMU Yokohama contracting two 61,500 DWT Supramax for Oldendorff Carriers with delivery of both vessels in the second half of 2014. This week it has come to light that Norden have increased their orderbook with contracts for a further four 56,000 DWT Supramax. These vessels, thought to have been committed in the first quarter of this year, are planned for delivery in 2015 with the orders split across a number of Japanese yards.

Wisdom Marine Group signed a two-tranche syndicated loan agreement for $5.92 million (USD) and ￥11.88 billion ($119.43 million, USD) with six domestic banks to finance its orders with three Japanese shipbuilders, Taipei Times reported. The syndicated loan was co-led by First Commercial Bank and Bank of Taiwan, with participating loans from Taiwan Cooperative Bank, Hua Nan Commercial Bank, Bank SinoPac and Bank of Kaohsiung. Wisdom Marine and its subsidiaries placed orders with three Japanese shipbuilders Oshima Shipbuilding Co Ltd, Sasebo Heavy Industries Co Ltd and Tsuneishi Shipbuilding Co Ltd to build six bulk vessels. Delivery is anticipated sometime between this year and 2015.

Clarkson Hellas believes that the under laying problems of oversupply of tonnage, over capacity at yards and lack of funding are still very real threats to the longer term recovery of the shipbuilding market and as such one week of positive news sadly does not mean that the corner has been turned towards a full recovery! In terms of reported business, IHI in Japan have announced an order for two 310k dwt VLCC's for their domestic Clients JX Group though their two subsidiary companies JX Tanker Co. Ltd and JX Shipping Co. Ltd, both ships reportedly for delivery from the Kure facility in 2015. Also in tankers, Seatankers Management Co.