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Bankruptcy petition filed against Murmansk Shipping Company

Murmansk Shipping Company is on the ropes with a bankruptcy petition filed this week against this once powerful name in Arctic shipping.

Gazpromneft Marine Bunker has a demand of RB8.3m ($140,000) against the line.

Murmansk Shipping Company, can trace its roots back to 1939. It was privatised after the collapse of the Soviet Union in the 1990s. Today it operates a fleet of 20 ships, mainly bulkers. The company has struggled to find business in recent years as new entrants have come on the scene.

Earlier this year, global port agent GAC also took the line to court over unpaid dues while last year the ailing shipping firm was involved in another legal tussle with a local miner.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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