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Primorsk International Shipping Limited

Sale Process

Case No. 16-10073·New York Southern·Petition date Jan 15, 2016

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OverviewProfessionals

Key professionals

Bankruptcy Counsel

Sullivan & Cromwell LLP

Chief Restructuring Officer

AP Services, LLC

Judge: Martin Glenn
Petition assets: $100M–$500M
Petition liabilities: More than $50 billion
Industry: Transportation
Debtors: 10

Primorsk International Shipping Limited is a Cyprus-organized, Singapore-managed shipping company specializing in the operation of nine modern, ice-classed, double-hulled tankers. Founded in 2004, the company transports crude oil and oil products across Russian, Canadian, United States, and European waters. It maintains long-term time-charter contracts with major oil companies and refiners, generating approximately $16 million in quarterly charter fees. The company utilizes management services from Prisco (Singapore) Pte Ltd and employs approximately 190 crew members.

Case background, summaries, and key terms are generated from the filings on this docket. Docket entries and documents come from the court.

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