AsiaDry Cargo

Daiichi Chuo exiting court rehabilitation

Photo of Sam Chambers Sam ChambersSeptember 5, 2016
1 Less than a minute

Daiichi Chuo, which filed for bankruptcy in Tokyo 11 months ago, is coming out of court rehabilitation, court documents seen by Splash reveal.

The line filed for bankruptcy protection in Tokyo on September 29 last year with 120bn yen ($1bn) in liabilities. At the time it was the fifth largest shipping line in Japan and its demise caused massive ripples across the dry bulk sector.

It was delisted in Tokyo in October last year. By the end of July this year it claimed to have paid back all its debts having slashed its fleet size by around 50%.

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Photo of Sam Chambers Sam ChambersSeptember 5, 2016
1 Less than a minute
Photo of Sam Chambers

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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