Sanko Steamship Says Goodbye to Last Vessel

Sanko Steamship, a storied name in Japanese maritime ownership, has sold its final vessel. The three-year-old, 82,000 deadweight tonnage, Tsuneishi-built Sanko Hawking was purchased for just below $42 million by a Greek buyer, whose identity remains undisclosed.

In February, Sanko's senior management informed the Japan Maritime Daily of the company's decision to cease its shipowning operations, marking the sale of this last vessel.

Established in 1934, Sanko has experienced significant ups and downs in its history, becoming the most notable shipping bankruptcy of the 1980s. The company faced financial collapse again in 2012, at a time when it managed a fleet of approximately 185 vessels, but it managed to recover after undergoing a court-protected reorganization, concluding in December 2014. Historically, the ships owned by Sanko were recognized for their distinctive green hulls.