Historic shipping company goes under

by The Canadian Press

LONDON, UK: Liquidators say that Britain’s oldest shipping company has gone bust, another victim of the country’s double-dip recession.

Tait Walker LLP, based in Newcastle, England, said that Stephenson Clarke Shipping Ltd sold off its last vessel in July and has now been placed into liquidation.

Stephenson Clarke boasts of being England’s oldest shipping company, established by a sibling pair of master mariners during the reign of King George II in 1730.

Maritime researcher David Asprey said Thursday that “I don’t believe there’s anyone else in shipping who can claim to be in business any longer.”

Britain is currently in the throes of a double-dip recession, and in a statement Stephenson Clarke said that “the current market is one of the worst experienced for many years.”

The company primarily transported  bulk cargoes including aggregates, alumina, grain, coal, fertilisers and steel throughout Northern Europe, the Mediterranean (including the Black Sea), West Africa, the Atlantic Islands, Scandinavia and the Baltic Sea .