Nan Fung Shipping is mulling its options over two massive oil tankers it owns and has on charter to Sanko Steamship, Japan's fourth-largest shipping company which filed for bankruptcy protection on July 2.
Several shipbrokers and tanker operators had already been in contact with Nan Fung Shipping to discuss possible deals, a source close to the company said. 'We are looking at options supposing Sanko allows us to take back the vessels,' the source said, adding that while the company was exploring possible opportunities, no decisions had been made.
One of the most recent meetings was with a representative of US outfit Scorpio Tankers and shipbroker Associated Shipbroking late last week. Scorpio Tankers operates 19 tankers, including 13 in a pool of vessels with other owners.
Nan Fung Shipping, part of the property and hospitality group founded by tycoon Chen Din-hwa, who died last month, said it had not had any contact with Sanko to discuss the ships or the charters.
The source added the company would contact Sanko to understand more about the situation regarding bankruptcy procedures and the ships. He said Nan Fung understood Sanko management was busy dealing with more than 100 clients, including shipowners, banks, shareholders and lawyers. Nan Fung is not taking legal advice about the situation with Sanko.
Sanko Steamship operated 147 vessels totalling more than 10.49 million dwt (deadweight tonnes) before it applied for bankruptcy protection. Most of these were owned by other shipowners and chartered to Sanko.