Sanko exiting the cape sector

Sanko exiting the cape sector

Japan’s Sanko Steamship is exiting the cape sector. Broker sources tell Splash that the one time shipping powerhouse has started circulating its last cape, the 2005-built Euro Fortune, a ship which MSI gives a fair market value of $20.1m.

The outfit will be left with two nine-year-old panamaxes when the sale is completed.

Sanko, famous in shipping for declaring bankruptcy twice in the last 40 years, has not showed any appetite to add ships to its fleet since 2014 when it bought the Euro Fortune.

Sanko shaved off its last two midsize LPG carriers in July to Zodiac.

Sanko is listed selling 120 ships and has now reduced its fleet size similar to when it started out in 1934 as a small coastal player.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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