Kalypso, an Italian shipping company, declares bankruptcy

Rif Line’s freight forwarder Kalypso, which began operating in mid-2021 with chartered ships servicing trade between Asia and Italy, expanded to include a transatlantic service to New York in late 2022. However, due to weak demand and low freight rates, Kalypso discontinued its Europe-US East Coast service in early 2023. Additionally, the ongoing conflict between Israel and Hamas disrupted Kalypso’s Asia-Med service enroute to the port of Ashdod, Israel.

As a result, Kalypso is facing financial difficulties, with reports indicating that one of its ships has been arrested at Taranto, Italy, for unpaid bunker bills, and other creditors are seeking repayment. To address these challenges, a consultancy has been appointed to oversee the negotiation of an orderly resolution.

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