World's oldest shipping firm Stephenson Clarke Shipping in liquidation

The Telegraph ^ | 8/9/2012

[bruinbirdman]

The world's oldest shipping firm, UK-based Stephenson Clarke Shipping, has gone into liquidation after nearly 300 years of trading.

Established in 1730, Stephenson Clarke had tried to sell its ships and cut costs in the face of crashing rates for dry bulk shipping on which it relied - transporting cargoes such as coal, grain and iron ore.

High and dry

But liquidator Tait Walker was appointed on August 3, the company and liquidator said in a statement.

"While previous economic downturns have been weathered, the current market is one of the worst experienced for many years with no upturn forecast for at least 12 to 18 months," a spokesman for the company said.

Dry bulk shipping companies ordered large numbers of new vessels between 2007 and 2009, when freight rates hit record highs. But the extra shipping capacity arrived just as economies were turning down, sending rates tumbling.

Known affectionately as Stevie Clarke, the company sold the last of its six ships in July, Reuters reported.

Brothers Ralph and Robert Clarke founded the firm during the reign of King George II when they bought

[DoughtyOne]

Can’t help but feel sad for the loss of this company.

If market forces won’t sustain it, then they won’t.

I think it’s special that men went to work there for over 300 years, and put out ships that went to ports all over the planet.

That’s a span of between 12 and 15 generations. Amazing...

[Gene Eric]

>> Can’t help but feel sad for the loss of this company.

Indeed. Seems like we’re losing our shared heritage.

Artemis, the huntress!!! Daughter of Zeus, sister of Apollo!!!

[piytar]

Imagine the storms this firm has weathered, including two World Wars. Then realize what they have succumbed to: not a shift in technology or markets, but a leftward shift in governments.

This is going to be a rocky ride...

[barmag25]

I wonder how many things that we consider normal procedure for ship life that began in this company?

[DoughtyOne]

Agreed...

Thanks for the response.

[SunkenCiv]

GGG managers are SunkenCiv, StayAt HomeMother & Ernest_at_the_Beach	join list or digest view topics view or post blog bookmark post a topic subscribe
Thanks bruinbirdman. Established in 1730, Stephenson Clarke had tried to sell its ships and cut costs in the face of crashing rates for dry bulk shipping... Known affectionately as Stevie Clarke, the company sold the last of its six ships in July... Brothers Ralph and Robert Clarke founded the firm during the reign of King George II... Ouch. Just adding to the catalog, not sending a general distribution. To all -- please ping me to other topics which are appropriate for the GGG list.