World's Oldest Shipping Company Closes

The industry continues to suffer

The world's oldest shipping company sold its last vessel and is going out of business, according to the liquidator.

Stephenson Clarke Shipping Ltd., started in 1730, has been placed into liquidation, according to a statement from accounting firm Tait Walker. The Newcastle-Upon-Tyne, England- based shipper, which employed nine people, sold off its final vessel in July, according to the statement.