Team Lines Stops Operations
Hamburg-based feeder operator Team Lines, which belongs to the Belgian Delphis Group, will close down its business.The deteriorating market conditions in Northern Europe combined with the ongoing consolidation process in the maritime sector are said to be the reason why the Hamburg-based container feeder operator Team Lines Deutschland ceases its business operations from February 11, 2019.In a circular, the shipping company announced that In a circular, Team Lines Deutschland GmbH & Co. KG decided to discontinue all activities of Team Lines with effect from February 11th. The feeder shipping company also informed the customers and…
Finnlines Discusses Financial Prospects
The Finnlines Group recorded net sales totalling EUR 450.9 ($402.4) million. was EUR 45.8 ($42.3) million. The profit before extraordinary items was EUR 35.7 ($33.2) million. 2.5%. Imports of unitised cargo, including transit traffic, rose roughly 5%. unitised cargo destined mainly for Russia via Finland increased 31% on the same period last year. In April Finnlines acquired 68.2% of Team Lines GmbH & Co. companies Johannes Ick, Mathies Reederei GmbH and Ernst Russ GmbH & Co. ownership in the company was 31.8%; after this deal Finnlines owns the company 100%. sales of Team Lines in 2000 were EUR 100 million and the operating profit was EUR 1.2 million. balance sheet amounted to EUR 14 million at 31 December 2000. million. Europe. Its time-chartered fleet consists of 22 container vessels.
