Taiwan-listed dry bulk owner Wisdom Marine has terminated a proposed deal to acquire two 39,000-dwt bulk carriers from Japan’s Naikai Zosen after the parties failed to reach an agreement.

The project was originally approved by Wisdom Marine’s board in March 2025, with a total investment ceiling of US$70.75 million, equivalent to no more than US$35.375 million per vessel.

Importantly, this was not the cancellation of a fully contracted newbuilding order. Wisdom Marine said no formal shipbuilding contract had been signed and no payment had been made. As a result, the termination is not expected to have any material impact on its finances or operations.

The case highlights an important distinction in newbuilding reporting: board approval for a proposed acquisition does not necessarily mean that a binding shipbuilding contract has been concluded.

Wisdom Marine has not disclosed whether the disagreement involved pricing, specifications, delivery timing or other commercial terms.