Vasi Shipping has initiated bankruptcy proceedings on 10 April 2025 with an outstanding debt of US$19 million owed to creditors, according to Linerlytica.
The shipping company was established in Singapore in January 2012 and operated primarily in Southeast Asia, Bay of Bengal, Indian Subcontinent, Red Sea and Middle East Gulf routes.
Vasi has halted all vessel operations since early March 2025, having sold its three owned ships in an effort to repay outstanding debts.
