Sponsored By

Italian container line Kalypso files for bankruptcy

Italian startup container line Kalypso has filed for bankruptcy following a collapse in freight rates and the disruption of its services to Israel, reported Italian media.

Michele Labrut, Americas Correspondent

January 3, 2024

1 Min Read
Judge's gavel in court
Photo: Bill Oxford - Unsplash

The freight forwarder Rif Line launched Kalypso in mid-2021 and chartered ships to service the trade between Asia and Italy. It then added a transatlantic service to New York in late 2022. 

Kalypso abandoned its Europe - US East Coast service in early 2023 because of weak demand and low freight rates. 

Kalypso was also hit by disruption of its Asia-Med service enroute to the port of Ashdod, Israel, due to the ongoing conflict between Israel and Hamas.

Kalypso is in financial trouble, said reports: one of its ships has been arrested at Taranto, Italy for unpaid bunker bills, and other creditors are lining up for repayment. A consultancy has been appointed to administer the process of negotiating an orderly resolution.

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like