Samho Shipping in receivership

Seoul: Another Korean shipping line has hit the wall, citing poor freight markets plus pirate attacks for its downfall. Chemical tanker owner Samho Shipping has filed for court protection in Seoul joining fellow compatriots Parkroad and Korea Line in receivership. Samho was the victim of two pirate attacks. Chemical tankers have been in the doldrums freight rate wise for a long time. Samho has 12 chemical carriers and a VLCC in its fleet. The court should make a decision on Samho's future in around one month's time. [28/04/11]
Posted 28 April 2011

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Read more stories like this...

Sign up to the Seatrade Maritime Newsletter and get stories like this delivered to your inbox.

Subscribe Now >

ShipTech Storybox

Seatrade ShipTech Middle East

23 – 24 September 2019 | Madinat Jumeirah, Dubai

The knowledge hub of technological advancements for the shipping sector. Learn, discover and experience new technologies and optimise operational efficiencies.

View 2019 programme >