Vasi Shipping has initiated bankruptcy proceedings on 10 April 2025 with outstanding debt of $19m owed to creditors. The company was established in Singapore in January 2012 and operated primarily in the Southeast Asia, Bay of Bengal, India subcontinent, Red Sea and Middle East Gulf routes. Vasi has ceased to operate any ships since early March 2025.
It operated 3 owned ships previously - the 1,743 teu VASI SUN (built 1990, acquired in Nov 2015 and scrapped in Dec 2018), the 1,730 teu VASI STAR