Taiwanese owner Wisdom Marine has announced that the board has approved a proposal to order two 115,000dwt oil tankers at Japanese yard Japan Marine United (JMU).

The total value of the contract is approximately US$100m, and will see Wisdom Marine enter the tanker sector.

Wisdom Marine currently operates a fleet of 109 vessels, all bulkers. Despite the depressed dry bulk market, the company managed to report a net profit of NTD2.25bn ($69.5m) for the year of 2015, up 19.09% year-on-year.