Newly-listed Franbo Lines Corp, a bulk shipping firm, is planning to expand its fleet, believing that it is now the right time to grow, reports said.

The Kaohsiung-based shipowner has an aim to enlarge its fleet by one or two per year, raising the total number of vessels to 15 by 2017, Taipei Times reported.

Franbo’s website listed a fleet of 10 ships with seven of them owned and the rest on charters.

Franbo recently completed its IPO in Taipei and started trading on the Taiwan Stock Exchange last Friday with a listing price of NT$13 ($0.43).