Kenneth Koo wins landmark cape demolition case

Kenneth Koo wins landmark cape demolition case

Ships sent for scrap cannot then resurface trading again, a landmark court case has ruled.

The Kenneth Koo-led Tai Chong Cheang (TCC) Group took Anil Sharma’s GMS, the world’s largest cash buyer of ships for recycling, to court after one of its capes it had sold for demolition only was found to be trading via GMS’s shipowning arm.

TCC has succeeded at a court in the UK in obtaining the final injunction to prohibit GMS from operating the ship, thereby enforcing the demolition agreement for the CSK Glory, a 173,000 dwt ship TCC had sold to the Dubai company in April this year.

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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1 Comment

  1. Avatar
    Andrew Craig-Bennett
    December 5, 2019 at 4:15 pm

    Congratulations, Kenneth.

    A very important victory for transparency and for integrity in shipowning.

    Shipping is starting to change; the implications of this decision go beyond sales for breaking and extend into environmental regulation. It’s a big thing.