Tokyo-based shipping firm Sanko Steamship Co. is making final arrangements to seek the rescheduling of loan repayments through a private-sector intermediary to turn around its business amid a deterioration in the global shipping market, Kyodo News reported Friday, citing sources close to the matter.
The company, which once went bankrupt in 1985 with the biggest postwar debt in Japan at the time, will seek to rehabilitate its business under an out-of-court “alternative dispute resolution” procedure, the sources said, according to Kyodo.
For the ADR, Sanko needs to obtain the consent of all of its creditors for a moratorium on debt repayments, which could hamper the process, Kyodo reported.
The company had liabilities of Y108.1 billion on a consolidated basis as of the end of March last year.
President Donald Trump indicated that he might be preparing to ease his “maximum pressure” campaign against Iran, potentially undercutting a central policy dating to his first term and provoking consternation among foreign policy hawks who argue that now is the time to escalate — not lessen — pressure on Tehran.
Maritime Partners, LLC has entered into a definitive agreement to acquire Centerline Logistics, one of the nation’s larger operators of Jones Act-qualified liquid petroleum barges, the company announced yesterday. The...
Class-action litigation law firm Sanford Heisler Sharp McKnight, LLP filed an additional Federal Tort Claims Act (FTCA) administrative complaint against the United States Coast Guard today on behalf of a...
June 25, 2025
Total Views: 1124
Get The Industry’s Go-To News
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
— just like 109,138 professionals
Secure Your Spot
on the gCaptain Crew
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
— trusted by our 109,138 members
Your Gateway to the Maritime World!
Essential news coupled with the finest maritime content sourced from across the globe.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.