Wisdom Marine will order two ultramax bulk carriers from Japanese shipbuilders as the Taiwanese owner continues to expand its fleet.

According to a regulatory filing, the Taiwan-listed owner’s board has approved a proposal to order a 63,300-dwt bulker from Tsuneishi Shipbuilding or Tsuneishi’s subsidiary in Zhoushan for up to $31m.

The board has also given its nod to another plan to book a 61,000-dwt bulker at Kawasaki Heavy Industries for $29m at most.