Sanko Steamship is saying little following a lengthy meeting with shipowners in London on Friday.

Sanko executives in Tokyo and London say they are not in a position to comment on the meeting which suggests there was not a clear cut outcome.

It is understood there was no immediate response to Sanko’s proposal to cut charter hire payments for the month to 8 April to 20% below the current market rate to reduce total chartering costs by 50%.

Takeshi Matsui
An ongoing cut in hire payments is proposed for at least the following year although the percentage below the market rate on offer will not be disclosed until Sanko comes up with a business rehabilitation plan.

Sanko