The Hamburg-based feeder operator will cease operations on 11th February
The announcement was made yesterday (30th January) in Hamburg by the Joint Managers of Team Lines Deutschland GmbH& Co KG, Alexander Saverys (owner) and Benjamin Weinacht (Managing Director).
The decision was made on the basis of "deteriorating market conditions in Northern Europe over recent years, combined with the ongoing consolidation process in the maritime sector which makes a continuation of Team Lines’ activities unsustainable," the managers stated.
As of yesterday, no bookings were being accepted for shipments with sailing or even arrival dates after 11th February.
They stressed that the organisation will be folded in an orderly manner and all commitments to partners will be met.
Team Lines was established in 1991 from the merger of German shipping companies H M Gehrkens, Mathies Reederei, Ernst Russ and Johannes Ick. In 2001 it was sold to Finnlines, which in turn sold the line in 2006 to Delphis in Antwerp, owned by the Saverys Group.
The managers said they wanted to express their appreciation to their long-standing customers and will make themselves available for further information.
The statement did not make clear whether Saverys Group will seek other arrangements for Delphis Logistics, which is the door-to-door short sea arm of Team Lines. However, today a spokesman told worldcargonews online that as Hamburg is the operational centre of all Team Lines’ and affiliated company activities, everything is closing down.