Wisdom Marine cashes in on handy bulker sale in deal

Taiwan’s Wisdom Marine has cashed in on one of its handysize bulk carriers as it makes room for fresh tonnage.

The Taipei-based bulker giant, led by shipping magnate Lan Chun Sheng (James Lan), is offloading the 2015-built Bunun Glory in a deal with Turkish owner Manta Denizcilik.

The sale, which is the company’s second recorded this year, will bring in $21.5m, according to a Taiwanese bourse filing. The 37,046 dwt ship was picked up as a resale for $22m in April 2015 and should deliver a profit of just over $10m.

Wisdom Marine boasts a fleet of more than 100 bulk carriers with an average age of about six years. The company’s fleet profile is expected to further improve in the next two-to-three years after the delivery of nearly 20 newbuilds, with a pair of Imabari-built handies set to join the fleet later this year.