Sanko left with just six bulkers after LPG pair sold

Japan’s Sanko Steamship has sold its only two LPG vessels according to brokers, leaving it with a fleet of just six bulkers.

The company has offloaded the 2008-built 34,483 cbm LPG carriers Sanko Innovator and Sanko Independence for around $16m each to European buyers.

Both VesselsValue and MSI’s eValuator put the market value of the ships at over $21m each.

Sanko Steamship controlled a fleet of around 185 vessels, around 40 of them owned, when it filed for bankruptcy protection in 2012, its second bankruptcy in its history. The company emerged from a reorganisation under court protection in December 2014.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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