Sanko Steamship Prepares to Leave Shipping Industry

Th Japanese flag outside an office buiding
Updated Published

A prominent figure in the annals of Japanese maritime commerce, Sanko Steamship, is on the verge of halting its shipowning activities.

The company is in the process of selling its final vessel, the Sanko Hawking, a bulk carrier launched in 2021 with a deadweight of 82,514 tons. Senior executives have disclosed to the Japan Maritime Daily that this sale will mark the company's departure from the business of shipowning.

Established in 1934, Sanko experienced its most significant downturn in the 1980s, leading to its insolvency. The firm faced bankruptcy once more in 2012, at which point it managed a considerable fleet of approximately 185 vessels, with its directly owned ships often distinguished by their green hulls. Sanko successfully navigated through a restructuring process, culminating in its emergence from court-supervised reorganization in December 2014.