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
Focus Container Line has become the second casualty of the container market downturn after liquidators were appointed on 14 February 2023 to wind up the company that is based in Brendale in Queensland, Australia. It follows the insolvency of the UK based Allseas Global Project Logistics in October 2022. Both companies suffered from their ill-timed entry into the container shipping markets that have been hit by a collapse in freight rates. Focus Container Line was established in March 2022 but o
An admistrator for Allseas Global Project Logistics has been appointed on 27 October 2022 in the UK courts. The company is part of the Allseas Group that includes Allseas Global Logistics and DKT Allseas that had announced the launch of the Allseas Shipping Company on 13 June 2022 that followed one full year of operations for its China Xpress service that connected Ningbo and Dongguan with Teesport and Rotterdam. The company claimed that Allseas was the first British registered shipping line in