Long-established Tokyo shipbroker Seaservice has closed down its tanker broking business to focus on more profitable business operations such as real estate and cosmetics.
The company informed brokers last week that it would be withdrawing from the market from the end of March, without explanation.
The closure marks the end of 35 years in the tanker broking business since Seaservice was set up in 1983 by two former tanker brokers who worked with Japanese trading houses and were looking to go independent.
