Taiwan’s Wisdom Marine in profit

Taiwan’s Wisdom Marine has revealed its new ships are improving earnings with big operating margins.
Taiwan’s Wisdom Marine, the bulker owner, said pre-tax profit improved by more than 10% year-on-year in the first nine months of 2014, backed by fleet expansion and its strategy of signing long-term contracts. Earnings reached $39.41m in the period.
Taiwan’s Wisdom Marine has taken delivery of 10 bulkers already this year, and all are signed up to global companies.
Taiwan’s Wisdom Marine long-term goal was to list on the New York Stock Exchange. Taiwan’s Wisdom Marine said proceeds would help fund its growing business as the dry bulk sector showed signs of recovery. New deliveries in the remainder of this year will lift the fleet to 97 ships.
Taiwan’s Wisdom Marine has said that it plans to grow its fleet to between 100 and 200 vessels, with most of the vessels coming from Japan.