• BIST 109.073
  • Altın 145,075
  • Dolar 3,4999
  • Euro 4,1284
  • İstanbul 25 °C
  • Ankara 25 °C

Demand reduces significantly

Demand reduces significantly
Coastal Bulk Shipping said it had ceased trading after the economic downturn forced a sharp decline in revenues.

Coastal Bulk Shipping said it had ceased trading after the economic downturn forced a sharp decline in revenues.

Britain"s shipping heritage took a further blow last week as Coastal Bulk Shipping said it had ceased trading after the economic downturn forced a sharp decline in revenues.

Coastal Bulk Shipping, which was founded in 1951, said that demand for the company"s fleet of small ships had reduced significantly.

Coastal Bulk Shipping runs a fleet of 13 vessels between 1,200 dwt-2,250 dwt.

A statement by the Kent-based company highlighted problems with non-performance of contracted customers and the weakness of sterling, which had led to reduced imports and more expensive fuel.

?Prospects for recovery in the short term are poor,? the statement said.

In late 2003, the company implemented a new business plan, which had led to a sustained period of improved trading. Despite this, revenues suffered a sharp decline in recent weeks, the statement said.

Coastal Bulk Shipping was not available for comment.

Meanwhile, River Bulk Shipping also said it had ceased trading. Demand for its two ships had fallen below expectation, with cargo volumes failing to materialise, particularly on the river Thames, a company statement said.

Both companies are owned by Fourwind Holdings, an investment holding company that specialises in shipping and logistics. Fourwinds" directors John Yeoman and Tim Lowry have operating subsidiaries based in the UK and Netherlands.

www.TurkishMaritime.com.tr

This news is a total 9254 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
  • Nicaragua Canal confirmed10 Eylül 2014 Çarşamba 12:00
  • Adoption of LNG as fuel10 Eylül 2014 Çarşamba 11:35
  • Maersk Line’s measures09 Eylül 2014 Salı 17:22
  • Vela vessels for Bahri ownership09 Eylül 2014 Salı 13:30
  • Euronav shares to be sold09 Eylül 2014 Salı 12:30
  • 2M ready to launch08 Eylül 2014 Pazartesi 18:26
  • The closing of an acquisition08 Eylül 2014 Pazartesi 17:50
  • Exports to Asia are booming!08 Eylül 2014 Pazartesi 12:00
  • LNG imports of Brazil increases03 Eylül 2014 Çarşamba 10:50
  • Sofrana Surville’s round trip01 Eylül 2014 Pazartesi 14:10
  • All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
    Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |