Several resolutions for Vasi Shipping Pte Ltd, a small Singapore-based containership operator, were made during an extraordinary general meeting held on 28 April at 2pm, according to a notice in the Government Gazette on Monday (5 May).
The following resolutions were duly passed during the meeting:
Special Resolution
That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.
Ordinary Resolution
That Mr. Abuthahir Abdul Gafoor and Ms. Yessica Budiman care of AAG Corporate Advisory Pte Ltd, 11 Collyer Quay, #07-02 The Arcade, Singapore 049317, be appointed as joint and several Liquidators of the Company for the purposes of winding up the affairs of the Company.
According to Lynerlytica on 10 April, Vasi Shipping filed for bankruptcy and has an outstanding debt of $19 million owed to creditors.
The company was established in Singapore in January 2012 and operated primarily in the Southeast Asia, Bay of Bengal, India subcontinent, Red Sea and Middle East Gulf routes.
Vasi has stopped operating any ships since early March 2025.
Photo credit: Benjamin Child
Published: 6 May, 2025
