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
Vasi Shipping has introduced a new Southeast Asia feeder service that will cover Singapore, Ho Chi Minh City, Singapore, Belawan, Penang, Singapore. The service turns in 2 weeks starting from 24 October 2022 with the 1,730 teu VASI STAR and followed on 4 November 2022 with the 1,723 teu GREEN HOPE.
Vasi Shipping has launched a new Haiphong Singapore Service (HSS) using the 1,200 teu CAPE FLORES that has just joined Vasi on a 12 month charter at $35,000 per day after ending its previous charter at Rif Line/Kalypso. The HSS started on 13 September 2022 at Haiphong at the Nam Hai Dinh Vu terminal with sailings to be provided every 9-10 days.