Knightsbridge Gets Burned by Capesize Charterers, Damages Sought

Knightsbridge Tankers Limited (Nasdaq:VLCCF) announced today that two of its charterers, Hong Xiang Shipping Holding Co Limited and Sanko Steamship, have canceled long term charter contracts prior to final maturity for two capesize dry bulk carriers, the Golden Zhejiang and the Battersea. The Golden Zhejiang was on charter for a rate of $32,326 per day net, for a minimum … [Read more...]

Sanko Steamship Comes Crashing Down Once Again

Sanko Steamship has had one of the most tumultuous histories of any shipping company in the world. Established in 1934, Sanko Line has its origin in the Sanko Kaiun Kaisha which was an operator of a shipping services on the Japan-Korea/China trade route.   Prior to World War II, Sanko Line was one of Japan's largest carriers in the Asian Shipping routes. After being … [Read more...]

Sanko Steamship Seeks Financial Rehab

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 … [Read more...]

Sanko and Hellespont join offshore forces

The Sanko Steamship Co Ltd and Hellespont Group have entered into a joint venture for manning and/or shipmanagement services to Sanko's and Hellespont's offshore fleets through their Singapore subsidiaries. The Singapore-based joint venture company, Sanko-Hellespont Offshore Management Pte Ltd, owned by Sanko Ship Management (Singapore) Pte Ltd and Hellespont Singapore Pte … [Read more...]