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 partners in a letter.
Team Lines Hamburg stated that they will comply with all obligations and perform the settlement in an orderly manner.
Team Lines was founded in 1991 by HM Gehrckens, Ernst Russ, Johannes Ick and Mathies Reederei Schwedendienst GmbH. Finnlines became part owner of Team Lines from 1998 and took over the entire company in 2001. Finnlines sold Team Lines to Belgian Delphis NV 2006.