Hamburg and London Maritime Services Ltd (12077247): administration
- Status
- In administration
- Administration began
- 2026-06-01
- Administrators
- Ian Lawrence Goodhew, Abigail Shearing
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2019-07-01
- Location
- London
- Industry
- 52220 Service activities incidental to water transportation
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
3.1. The Company upscaled operations in December 2024, making the decision to start chartering vessels. The Company initially funded the voyages through the drawdown of funds from Goldfish Capitai. However, in 2026 due to geo-political conflict haiting one of the vessels in the Straits of Hormuz and further issues relating to insurance and the dispute of Cargo interests of another chartered vessel, these were halted,
This led to further costs being incurred as the vessels were unable to complete the relevant chartered journeys but incurred significant liabilities. In order to meet the costs of sub-contractors and continue Operations, the Company provided a floating charge to Weybridge Capitai to obtain a loan to continue Operations. However, due to the vessels being unable to complete their charters, the Company was unable to meet its obligations to the floating charge holder. A notice of default was issued by the creditor on 7 April 2026 for failure to pay their loan and the Company was unable to provide the relevant funds.
On 20 May 2026, Voscap Limited were approached by the fixed and floating creditor regarding placing the Company into administration. The issued the relevant proceeding in relation to placing the Company into administration under their floating charge and the Company was placed into administration on 1 June 2026.
Administrators' statement of proposals (2026-08-04) · Companies House register