Lost your password?
Don't have an account? Sign Up

Italian container line Kalypso files for bankruptcy amid ongoing conflict between Israel and Hamas

Share This News Story:

ROME : Italian startup container line Kalypso has filed for bankruptcy following a collapse in freight rates and the disruption of its services to Israel, reported Italian media.

The freight forwarder Rif Line launched Kalypso in mid-2021 and chartered ships to service the trade between Asia and Italy. It then added a transatlantic service to New York in late 2022. 

Kalypso abandoned its Europe – US East Coast service in early 2023 because of weak demand and low freight rates. 

Kalypso was also hit by disruption of its Asia-Med service enroute to the port of Ashdod, Israel, due to the ongoing conflict between Israel and Hamas.

Kalypso is in financial trouble, said reports: one of its ships has been arrested at Taranto, Italy for unpaid bunker bills, and other creditors are lining up for repayment. A consultancy has been appointed to administer the process of negotiating an orderly resolution.

Share This News Story: