Taiwan-listed dry bulk owner Wisdom Marine has terminated its proposed acquisition of two 39,000-dwt bulk carriers from Japan’s Naikai Zosen after failing to reach an agreement. The project had been approved by Wisdom Marine’s board in March 2025, with a total investment ceiling of US$70.75 million, or no more than US$35.375 million per vessel. Wisdom Marine clarified that no formal shipbuilding contract was signed and no payments were made, so the termination is not expected to have any material impact on its finances or operations. The company did not disclose the reasons behind the disagreement, which could have involved pricing, specifications, delivery timing, or other commercial terms. This case underscores the distinction between board approval for a proposed acquisition and the signing of a binding shipbuilding contract. Wisdom Marine’s decision highlights the complexities involved in newbuilding deals and the importance of formal agreements before commitments are finalized.